Asteroid Mining Market Size, Share, Growth & Forecast 2022-2027
Market Overview 2022-2027 The latest research study “Asteroid Mining Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” by IMARC Group, finds that the global asteroid mining market size reached US$ 1.34 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 4.75 Billion by 2027 exhibiting a CAGR of 21.70% during 2022-2027.
Covid-19 Impact:
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Industry Definition and Application:
Asteroid mining represents the process of extracting minerals and raw materials, including silver, gold, rhodium, nickel, aluminum, manganese, iron, cobalt, etc., from minor planets and asteroids in outer space. It generally contributes to a sustainable environment as minerals mined in space are utilized as rocket propellants or construction materials. In line with this, asteroid mining is performed in the asteroids to minimize the cost of transporting minerals in the orbit of the Earth. It allows the large-scale exploration of water and platinum.
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Asteroid Mining Market Trends And Drivers:
The rise in active space missions for enhancing public safety, energy and the environment, health and medical, information technology (IT), and industrial productivity is one of the major factors driving the asteroid mining industry.
The increasing use of 3D printing, which enables firms to boost production flow flexibility and reduce costs, is another factor supporting the global industry. Additionally, the development of a number of supportive regulations by governments throughout the world to promote asteroid mining is also boosting the market's growth. This is due to the Earth's declining scarce resources and the rising population.
Additionally, key growth-inducing elements include the increasing private stakeholder investments in asteroid mining and the growing use of in-situ resource utilisation (ISRU) practises in space exploration that aid in gathering, processing, and storing minerals found on asteroids. Additional R&D efforts by top producers to provide improved space mining techniques are anticipated to drive the asteroid mining market in the next years.
| Asteroid Mining Market Report Scope | |
| Report Coverage | Details |
| Market size value in 2021 | US$ 1.34 Billion |
| Market forecast in 2027 | US$ 4.75 Billion |
| Growth Rate | CAGR of 21.70% from 2022 to 2027 |
| Base year for estimation | 2021 |
| Historical data | 2016-2021 |
| Forecast period | 2022-2027 |
| Report coverage | Revenue Forecast, Company Ranking, Competitive Landscape, Growth Factors, And Trends |
| Segments covered | Asteroid Type, Phase, Application, Region. |
| Regional scope | United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico |
| Key companies profiled | Asteroid Mining Corporation Limited, Moon Express Inc., OffWorld, Shackleton Energy Company, SpaceFab.US Inc. and Trans Astronautica Corporation. |
| Market Dynamics | Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for forecast period, |
| Customization purview | If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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Report Segmentation:
The report has been segmented the market into following categories:Breakup by Asteroid Type:
- Type C
- Type S
- Type M
- Others
- Others
Breakup by Phase:
- Spacecraft Design
- Launch
- Operation
- Operation
Market Breakup by Application:
- Construction
- Resource Harvesting
- 3D Printing
- Others
By Geography:
- North America
- United States
- Canada
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
List of Major Key Players: The major players in the market are Asteroid Mining Corporation Limited, Moon Express Inc., OffWorld, Shackleton Energy Company, SpaceFab.US Inc. and Trans Astronautica Corporation.
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