Renewable Energy In Mining Industry Market is expected to rise at a remarkable CAGR By 2024

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REPORT DESCRIPTION
Renewable Energy In Mining Industry: Overview
The mining industry traditionally relies on the conventional fossil based sources of energy such as diesel, oil and
natural gas to fulfill the energy demand. The industry is now competing with the increased prices of the fuel which
leads the operator to operate on less operating margins. The mining industry is expanding its wings into new remote
locations to meet the emerging demand of the energy. Typically use of large diesel equipments on mining site
resulting in a dependency on the diesel fuel. As maximum locations for mining are in remote areas making it difficult
to provide grid connectivity, increasing its reliability on on-site generation.
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The emerging demand for the energy and volatility in the market price of conventional fuel are the main drivers for
the renewable energy in mining industry. Additional cost of setting equipments for generation from renewable
sources and low capacity utilization factor are the major constraints for the industry. Allocation of new mines,
innovative technologies used in locating resources and rising demand for resources bring new market opportunities
for the new players to invest in the market.
Renewable Energy In Mining Industry: Segmentation
The renewable energy in mining industry can be segmented on the basis of technology used for power generation
on site. Majorly solar and wind technology can be used on mining sites to provide power. Solar power can be directly
converted into electricity through photovoltaic cells and concentrated solar power technique. Today photovoltaic
cells provide 0.1% of the total global electricity production. Photovoltaic is a commercially reliable and viable
technology with a huge potential for the long term growth across all the world regions.
Photovoltaic technology is further segmented into crystalline silicone, thin film and concentrator technologies.
Crystalline silicone technology contributes about 85-90% to the global market for solar. Crystalline silicone is further
divided into multi-crystalline and single-crystalline. Thin film is further divided into amorphous & micromorph
silicone, cooper-indium diselenide, cadmium telluride and copper indium gallium diselenide. Concentrator
technology uses optical concentrator system which focuses solar radiation onto high efficiency solar cells. This
technology is under development phase.
Large wind farms consist of hundreds of wind turbines connected to the power transmission network. The earth’s
surface heats and cools unequally resulting in the creation of atmospheric pressure zones that make air to flow from
high pressure zone to low pressure zone. This wind is used to rotate the turbines of the large wind mills for power
generation. The amount of generation depends on the velocity of the wind where the wind farm is installed. Wind
turbines are majorly classified into horizontal axis and vertical axis turbines. A horizontal axis turbine has its blade
rotating on the axis parallel to the ground whereas vertical axis has its blade rotating on the axis perpendicular to
the ground. The cut in speed for the wind turbines is in the range of 10-16 kmph and is defined as the minimum
speed at which the blades will rotate and generate usable power.
Renewable Energy In Mining Industry: Region-wise Outlook
In the Asia Pacific region China and India are the major countries using above stated technologies for power
generation. In the European region Germany, France and United Kingdom are the major users of the solar and wind
technologies in power generation. In the North American region the United States and Canada are the major
countries generating power from solar and wind.
Key players in providing renewable energy in mining industry are Gamesha, E.ON, Vestas, Siemens,
Iberdrola Renowables, General Electric, NextEra, Suntech Power Holdings Co., Ltd., First Solar and
Hanwha SolarOne among others.
The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical
data, and verifiable projections about market size. The projections featured in the report have been derived using
proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis
and information for every facet of the market, including but not limited to: Regional markets, technology, types, and
applications.
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Renewable Energy In Mining Industry: Overview The mining industry traditionally relies on the conventional fossil based sources of energy such as diesel, oil and natural gas to fulfill the energy demand. The industry is now competing with the increased prices of the fuel which leads the operator to operate on less operating margins. The mining industry is expanding its wings into new remote locations to meet the emerging demand of the energy. Typically use of large diesel equipments on mining site resulting in a dependency on the diesel fuel. As maximum locations for mining are in remote areas making it difficult to provide grid connectivity, increasing its reliability on on-site generation. Download Free exclusive Sample of this report : http://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=12383