Iron Market Demand And Growth Prediction 2019 To 2025

Iron ore mining industries include companies carrying out activities such as developing mine sites, mining and beneficiating iron ores and manganiferous ores valued chiefly for their iron content. It includes producing sinter iron ore, except iron ore produced in iron and steel mills. It also includes producing other iron ore agglomerates.

The global iron ore mining market was valued at $163 billion in 2017. Asia Pacific was the largest geographic region accounting for $129.1 billion or 79.2% of the global market. And China was the largest country accounting for $79.9 billion or 49% of the global iron ore mining market.

The use of autonomous hauling systems (AHS) trucks in the iron ore mining industry is significantly enhancing production efficiency and reducing turnaround time. AHS control and track mining vehicle movements, coordinates and autonomously drives off-highway haul trucks operating in a mine. 

(Image by Erdenebayar from PixaBay)