Deep Sea Mining Equipments and Technology Market

Market Overview

According to Reed Intelligence the Global Deep Sea Mining Equipments and Technology Market Size will approximately grow at a CAGR of 62.2% during the forecast period.

Deep sea mining is the extraction of mineral resources from ocean floor. This is done to extract the minerals and metals present deep at the floor of the ocean. The minerals extracted are mainly copper, gold, silver, manganese, cobalt etc. There is need of deep-sea mining as demand for minerals as traditional terrestrial sources are getting depleted and have become harder to access. The minerals are found in the form of polymetallic nodules, massive sulphides, cobalt rich crusts etc.

To make it convenient and efficient various technologies have been introduced in the deep sea mining equipments. Remotely Operated vehicles, Seafloor production tools, pumping systems, Lifting and transport system, support vehicles are some of the dep sea mining equipment’s used. Deep sea mining equipment’s are used by mining companies, research institutes, manufacturers and suppliers of the equipment.

As the global demand for mining is increasing due to increase in demand of metals, minerals such as copper, cobalt manganese and rare earth elements is rising due to industrial development, renewable energy technology. The private mining companies are primary users of deep-sea mining. The equipment manufacturing industry is innovating new technologies make the tasks and operations easier for mining. The demand of deep-sea mining is increasing due to various reasons and the demand for technological innovations is driving the market in various regions globally.

Market Dynamics

Market Drivers

• Increasing Demand For Metals And Minerals

The Deep Sea mining equipments and technology market majorly affected by the increasing demand of the metals and minerals. Deep Sea mining is much needed now a days due to increase in the demand of metals and minerals as the paying capacity of the propel in urban areas is increasing. Deep sea mining is a major source of the metals and minerals. Polymetallic nodules are found on the seabed at depth contain high concentrations of cobalt, nickel, copper, and manganese. These metals are essential for a wide range of products, including electronics, batteries, and construction materials. Using the Remotely operated vehicles (ROVs) and autonomous underwater vehicles (AUVs) have mad ethe mining operations effective and efficient. Thus, the business has started investing in the deep sea mining equipments with technological advancements.

• Technological Advancements

Technological advance mints in the equipment’s used for deep sea mining are making all the operations in deep sea mining easy, efficient and productive. The new remotely operated vehicles are underwater vehicles that are used in mining of ocean floor. They help in various tasks as collecting samples, deploying mining equipment and repairing damaged equipment. The Autonomous underwater vehicles are underwater vehicles that can operate without any human intervention. They used in various operations like mapping ocean floor, searching of mineral deposits, and collecting samples. Numerous numbers of other equipment’s are used for deep sea mining now a days to improve the efficiency so as to meet the demand of the minerals and metals globally, which drives the market of technological advanced deep sea mining equipment’s.

Market Restraints

• High Cost

The cost of deep-sea mining is very high as it has no easy operations to be performed. The equipment’s which are used for deep sea mining are too costly due to the costly components used in it. These may restraint the companies with low financial resources to invest in the deep sea mining equipments. The companies with significant financial resources can only invest in the deep-sea mining innovations. This may also restraint from making any innovative solutions or equipment’s used in deep sea mining which may affect the deep-sea mining operations. Thus, the high cost may affect the market of deep sea mining equipments and technology.

Market Scope

Segmental Analysis

Segment by Type

• Equipment

Deep sea mining requires various equipment’s to carry out the operations efficiently. Remotely operated Vehicles are the robotic vehicles used to perform tasks in the mining operations. They have cameras, lights manipulators arms and tools. They controlled remotely from surface and can be operated at depths which allows to survey the seabed, collect the samples and operate mining. Seafloor tools are used to cut, excavate cand mainly used for collection of mineral deposits from the ocean floor. They are generally attached with ROVs which are deploys from the surface level. The lifting and transport systems are used to bring the material to the surface for further processing. Pumping systems are also used to transport the material to the seabed. These equipment’s used in the deep-sea mining operations make the process more efficient and faster due to inbuilt technology.

• Services

Deep sea mining operations need an extensive logistical support. It makes transportation of personal equipment’s and supplies at the site of mining. The services like vessel chartering, port operations, custom clearance and supply chain management are required for smooth operations in deep sea mining. The services for operational support are also provided to the personal who are the workers on site of deep-sea mining. The training programs for technicians and operators are arranged so that they can work efficiently and there is no loss due to lack of knowledge. The first ate before carrying out the mining operations are exploration and surveying which is carried out to identify the potential mining sites based on the quality and quantity of the mining deposits. These services make the mining operations easier, convenient and faster.

Segment by Application

• Cobalt Rich Crusts

Cobalt rich crusts are generally found on seamounts and underwater ridges. Different mining equipment’s are required to cut the crusts from the floor. Mechanical cutters or high-pressure water jets are used to remove the crusts from the substrate and suction devices or situated to gather the detached crusts. The first step is seafloor mapping where the areas of high concentrations of cobalt rich crusts. This is done by using sonar systems, side scan sonar and multibeam bathymetry to create detailed maps of the sea floor. Followed to this the mining. The sea floor cutting is carried out using cutting technologies such as mechanical cutters and high-pressure water jets used to remove the crusts. Once the Cobalt rich crusts are cut, they are brought to the surface using cranes or winches. After bringing it to the surface they are processes using the processing equipments.

• Manganese Nodules

Manganese nodule mining requires remote operating vehicles with suction or cutting devices to collect nodules from seabed. The nodules can scoop up from the sediment. Manganese nodules contain manganese iron, nickel and other base metals. Remote sensing, sonar systems and underwater mapping is done by use of technology but locating the map at the sea bed. Hydraulic suction or mechanical cutting systems are used for the preparation of the mining activities. The Remote operating vehicles are used to collect the nodules from sea floor. The systems such as lifting platforms, winches cranes and hoisting equipment’s are used for collection. The processing unit then carries out the separation methods to remove the impurities and get pure form of Manganese nodules.

• Seafloor Massive Sulphides

Seafloor massive sulphides (SMS) are hydrothermal deposits that are formed on the ocean floor. They are composed of metals such as copper, zinc, lead, and gold. Seafloor Massive Sulphides are mined using a variety of equipment and technologies. Remotely operated vehicles (ROVs) are used to explore and mine the ocean floor. They have a variety of tools, such as manipulator arms, cameras, and samplers. Autonomous underwater vehicles (AUVs) are self-powered underwater vehicles which allow to operate without human intervention. They are used to map the ocean floor, search for mineral deposits, and collect samples. After collection they are brought out of the water and processed to remove the impurities from it.

Regional Analysis

North America

The Mining Equipments market in North America is increasing due to the demand of metals and minerals in the region due to high paying capacity of the people in the region. Canada is the leading country for production of equipments required for mining. North America is the largest automated mining equipment producer. The US market of automated mining equipment market is driven by the increased use of Artificial Intelligence, Machine learning, Robotics etc. The Automated mining equipment market is expected to grow in upcoming years as the paying capacity of the population in the region is increasing there is need of efficient mining practices in the region. So, the deep-sea mining technologies and equipment market is growing in the region.

Europe

The deep-sea Mining Equipment market in Europe is expected to grow at a CAGR OF 62.2%. In 2021, the European Union adopted a regulation on deep sea mining. This regulation was adopted to ensure that deep sea mining is conducted in a sustainable manner. The regulation included provisions on environmental impact assessment, the use of marine resources, and the sharing of benefits. The French government announced the investment of about 10 million in the research and development of the deep-sea mining due to increasing demand. France is the leading country for production of advanced mining equipment in the region.

Asia Pacific

The government of China is investing heavily in deep sea mining operations due to increasing demand. China has made technological advancements and has introduced the seabed mining crawler, Riser system, processing equipment used for the mining operations in the region. China has been conducting deep sea mining research since 2000.It has held 5 out of 31 exploration contracts issued by the International Seabed Authority yet. This has given a right to China to explore one day of mining of 23800 Km of the seabed in Romania. India has approved a Deep Ocean Mission to explore the ocean for resources and develop deep sea technologies for sustainable use of ocean resources. In 2023, the Indian government approved two exploration contracts for deep sea mining in the Indian Ocean. It is the joint venture between the Indian Government and UK based company Deep Green Metals. According to the contract the Ocean Mineral India limited has the right to explore the polymetallic nodules in area of 100,000 square kilometres. This drives the market of the deep-sea mining equipment and technology in the region of Asia Pacific.

South America

Latin America has a long coastline and a deep-water port infrastructure, and it is home to several companies developing deep-sea mining technologies. In 2023, the company The Metals Company (formerly known as Deep Green Metals) announced that it had signed an agreement with the Mexican government to explore polymetallic nodules in the Clarion-Clapperton Zone, which is an area of the Pacific Ocean that is located between Mexico and Hawaii. The agreement gives The Metals Company the right to explore for polymetallic nodules in an area of about 75,000 square kilometres. Considering the above facts, the deep-sea mining equipment and technology market is expected to grow in the upcoming years.

Key Players

1. 2H Offshore (Acteon Group)
2. Bauer Machine
3. Beijing Deepsea Pioneer
4. Cellular Robotics
5. Deep Reach Technology
6. Era met Group
7. Hydril Pressure Control
8. Keppel Corporation
9. Kongsberg Maritime
10. Nordic Ocean Resources
11. Odyssey Marine Exploration
12. Robert Bosch
13. Saab Seaeye
14. SEAS Offshore
15. Seatech Solutions International
16. Soil Machine Dynamics
17. Teledyne Technologies
18. UK Seabed Resources

Recent Developments

2023: The International Seabed Authority (ISA) approved the first two exploration contracts for deep-sea mining. The contracts were awarded to Canada-based company Deep Green Metals and UK-based company UK Seabed Resources.

2022: The European Union announced that it will be funding a research project to develop new deep sea mining technologies. The project, called DeepSeaMining2030, is expected to run for five years which will focus on developing technologies that are more environmentally friendly and sustainable in nature.