(MENAFN- GlobeNewsWire - Nasdaq)
New York, Sept. 23, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report 'Lead Global Market Report 2022' -
28 billion in 2021 to $7.85 billion in 2022 at a compound annual growth rate (CAGR) of 7.7%. The lead mining market is expected to grow to $8.95 billion in 2026 at a compound annual growth rate (CAGR) of 3.4%.
The lead mining market consists of sales of lead ores and concentrates by entities (organizations, sole traders, and partnerships) that mine lead ore.
The main types of lead mining are automotive, electronics, and other types.Automotive refers to the design, operation, manufacture, or sale of automobiles.
The production is primary and secondary. The mining type includes underground mining, and surface mining.
Asia-Pacific was the largest region in the lead mining market in 2021. The regions covered in this lead mining market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
The growth in the Lead mining market is due to an increase in automotive, and construction projects in rapidly developing countries such as China and India owing to rising population and infrastructure.Population refers to the whole number of people or inhabitants in a country or region.
The chemical properties of lead allow this element to be used in power storage and delivery applications.For instance, In June 2022, according to Worldometer, a US-based reference website that provides counters and real-time statistics for diverse topics, The current population of China is 1,450,341,718.
Therefore, the rising population is driving the growth of the lead mining market.
The implementation of IoT in the lead mining industry is enhancing decision-making capabilities and reducing production costs. IoT enables the sensors to pick up real-time data, analyze the data, facilitate equipment communication, identify faulty equipment and derive insights from the data generated, as the major trends witnessed in the lead mining market.
The countries covered in the lead mining market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.
Read the full report:
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.
Legal Disclaimer: MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.