Ore-grade analyzers – Business overview
A significant portion of mineral commodities, like copper and limestone, is extracted from open pits in the ground. Mineral prospectors perform detailed sampling to determine if the concentration of the mineral in a potential deposit is high enough to be profitably extracted. The design, construction, and expansion of a mine is a costly affair. So, sampling has little to no room for error since it is the basis on which millions of dollars change hands. Therefore, many mining businesses use state-of-the-art analyzers supplied by our client to arrive at preliminary estimates of the concentration of various elements in mineral deposits.
Client’s business situation in the ore-grade analyzers industry
Most handheld analyzers are fast, accurate, and convenient, so the client felt this line of scientific instruments held great potential with open-pit mining companies. The business had plans to strengthen its commitment to this group of analyzers. Even so, the client was keen on picking promising new market segments for aggressive forays. Before making big moves, naturally, the client wanted facts and information to confirm its assumptions about the market.
In early fall 2021, after careful consideration, the client decided to work with our market intelligence experts on an in-depth study of the open-pit ore-grade analyzer market. The scope of the study, covering the period 2022 to 2026, included:
- Aggregation of deep, accurate, and up-to-date data on the open-pit ore-grade analyzer market
- Incisive analysis of the above data
- Estimation of the addressable market and product adoption forecasts for the target period
Our market intelligence solution
The research employed a prudent mix of primary and secondary research techniques that have proved effective. The primary data collection involved talking to a balanced pool of respondents who are hands-on with elemental analysis in the mining sector. Meanwhile, the secondary research drew on proprietary databases and public datasets without inaccuracies and over-representations. After multiple reviews and quality checks, the final report is shared with our clients over a PowerPoint presentation.
The study provides insights into the demand and supply forces shaping the market for open-pit ore-grade analyzers. A key finding was that the global appetite for copper and limestone is likely to rise sharply by 2027, spurred by energy, automotive, and construction demand. Already, mining companies are under pressure to boost output to slake demand from upcoming projects. There is no sign of demand easing anytime during the target period.
In 2020, copper mining fell into contraction as Covid-19 shut down mines and transportation infrastructure. However, copper mines struggle to keep up with pent-up demand in the post-pandemic world. The speedy expansion of copper mines will influence top miners’ agenda during the projection period. Limestone extraction is also likely to grow at a different rate than copper. Furthermore, this will result in an inevitable demand for copper and limestone ore-grade analyzers during the target period.
Our upcoming market research study takes a deep-dive assessment of every segment-level data on the open-pit ore-grade analyzer industry. The report features estimates and projections of the market size for analyzers. The market segments vary by type of mineral (copper, limestone), the process employed in elemental analysis (cross belt, drill cutting, drill core), as well, and analyzer type (mobile, stationary). Portable and mobile analyzers are handy for a range of elemental analyses, and the reason behind their increasing popularity in the open-pit mining sector, most notably in two African states.
Furthermore, let us relook at the client’s competitor landscape, the report profiles up to 10 competitors, five of whom account for nearly a third of the target market. The profile parameters include revenue, staff strength, production throughput, and relative strengths. The report lists key mining sites that have deployed competitors’ ore-grade analyzers. Reducing analyzer downtime and improving accuracy are key considerations for most analyzer manufacturers. The report indicates that ease of use is uppermost for copper mining companies when choosing fundamental analysis processes.
Benefits for our client in the ore-grade analyzers industry
The client uses the study as a baseline to firm up plans to grow its line of open-pit ore-grade analyzers in a hypercompetitive market.
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