The marine mining market is expected to increase at a compound annual growth rate (CAGR) of 33.7% from 2024 to 2034, from its estimated USD 2.8 billion in 2023 to USD 68.33 million by 2034. In addition to delivering economic opportunities, it gives access to vital minerals required for technological advancement and sustainable energy solutions.
The process of extracting valuable mineral resources from the ocean floor is referred to as marine mining, or deep-sea mining. Since key minerals like copper, nickel, cobalt, lithium, and rare earth elements are needed to produce electrical devices and technology that enable renewable energy systems, it is imperative that the world's expanding demand for these resources be met.

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GROWTH DRIVERS
The global transition to modern technologies, particularly in electronics, renewable energy, and electric vehicles (EVs), has raised demand for rare earth elements. These components are necessary for the manufacturing of high-performance magnets, batteries, and other components. For instance, more effective usage of REEs—which are frequently found in polymetallic nodules on the ocean floor—is required as electronic gadgets get smaller.
In practically every industry, including mining, consumer desire is growing for sustainable and ecologically friendly practices. Establishing a balance between environmental protection and commercial exploitation in marine mining operations is the aim of regulatory organizations like the International Seabed Authority (ISA). The regulatory framework promotes the adoption of sustainable techniques to address ecological issues related to deep-sea mining and guarantee long-term profitability.
MARKET SEGMENTATION:
By Technology -
· Remotely Operated Vehicles (ROVs)
· Sonar
· Marine Seismic Methods
By Elements -
· Polymetallic Nodules
· Polymetallic Sulphides
· Cobalt-Rich Ferromanganese Crusts
· Others
By Target Minerals -
· Copper
· Zinc
· Nickel
· Cobalt
· Manganese
By Application -
· Automotive
· Precious Metals
· Construction
· Electronics
· Other Applications
By Region -
· North America
· Europe
· Asia Pacific
· Latin America
· Middle East & Africa
Key Players:
· Loke Marine Minerals
· Royal IHC
· Ocean Minerals LLC
· Okeanus Science Technology
· De Beers Group
· Seabed Minerals Authority
· Nauru Ocean Resources Inc.
· JSC Yuzhmorgeologiya
· China Minmetals Corporation
· Other Key & Niche Players
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