Marine Mining Market - Global Marine Mining Industry Analysis, Size, Share, Growth, Trends, and Forecast 2025-2032 - (By Technology, By Extraction Method, By Element, By Geographic Coverage and By Company)

Description

The global marine mining market is experiencing rapid growth, with its value expected to increase from US$ 3.9 billion in 2024 to US$ 25.8 billion by 2032. This expansion, at a remarkable CAGR of 31%, is fueled by rising demand for critical minerals essential for clean energy technologies and electric vehicles (EVs). As traditional terrestrial resources become increasingly limited, deep-sea mining is emerging as a promising solution for mineral extraction.

Market Insights

Over the last few years, marine mining has transitioned from research and development to operational testing. Between 2019 and 2024, more than 22 exploration licenses were issued by the International Seabed Authority (ISA), especially in the Clarion-Clipperton Zone (CCZ). This shift was enabled by advancements in technology, such as Remotely Operated Vehicles (ROVs) and Autonomous Underwater Vehicles (AUVs), which allow exploration at extreme depths with increased precision.

ROVs have become integral due to their ability to execute underwater tasks with high accuracy, making them ideal for the extraction of polymetallic nodules and sulphides. AUVs, on the other hand, offer cost-effective, tether-free operation, ideal for large-scale surveying of mineral-rich zones.

Key Market Drivers

One of the primary drivers of the marine mining market is the growing need for critical minerals. The International Energy Agency (IEA) projects that demand for these materials, especially lithium, nickel, cobalt, and manganese, will rise significantly by 2040. These minerals are vital for manufacturing batteries, wind turbines, and solar panels.

For instance, lithium demand is expected to jump from 500 kilotonnes in 2021 to 3,200 kilotonnes by 2030. Nickel faces a projected 10% supply gap by the end of the decade, while cobalt, mostly sourced from the Democratic Republic of Congo, raises ethical and geopolitical concerns. Even manganese is at risk, with key supply sources concentrated in countries like South Africa and Gabon.

The decline of land-based ore grades further intensifies the urgency to explore alternative sources like the ocean floor, which holds immense reserves of these valuable elements.

Business Opportunity

Deep-sea mining presents a vast and relatively untapped opportunity. The seabed is rich in resources such as cobalt, nickel, lithium, and copper-all essential for the growing demand from electric vehicles and renewable energy technologies. With rising global interest in sustainability, accessing these underwater reserves can help countries diversify their supply chains and reduce dependence on imports.

Regions like the Clarion-Clipperton Zone have become hotspots for mineral exploration. International permits are being actively pursued, and pilot projects are already underway, providing a roadmap for larger-scale operations in the near future.

The evolving regulatory Analysis also presents a business opportunity. As the ISA works toward a comprehensive framework for marine mining, early movers who comply with forthcoming guidelines can gain a strategic edge.

Region Analysis

In North America, policy shifts are signaling openness toward marine mining. In 2025, the U.S. administration considered an executive order to permit stockpiling of critical minerals from the Pacific Ocean floor. This move aims to secure essential materials for technologies like EVs and clean energy while reducing reliance on foreign sources. Companies such as The Metals Company are at the forefront of this initiative, although environmental concerns remain significant.

Europe is fostering marine mining growth through industry-academia collaborations. Norway, for example, has approved seabed exploration on its continental shelf. Institutions like the Norwegian University of Science and Technology (NTNU) are leading efforts in developing autonomous technologies, such as AUVs, to facilitate efficient and sustainable seabed mining.

Asia Pacific is emerging as a major player in marine mining. Japan's JOGMEC is leading multinational efforts in regions like the Okinawa Trough. The Cook Islands have partnered with China for five-year seabed exploration agreements, while Papua New Guinea's Solwara 1 project represents successful collaboration between local governments and international firms to extract valuable minerals such as copper, gold, and zinc.

Competitive Analysis

The marine mining industry is increasingly competitive as global firms race to secure access to seabed resources. Companies like DeepGreen Metals, rebranded as The Metals Company, are expanding operations in the Pacific Ocean, focusing on environmentally responsible extraction.

Ocean Infinity, a UK-based marine robotics firm, is collaborating with industry leaders to develop monitoring technologies that align with sustainability goals. Meanwhile, Loke Marine Minerals, a Norwegian firm, acquired UK Seabed Resources in 2023, securing significant mineral licenses in the CCZ with plans to begin extraction by 2030.

India is also joining the race by seeking exploration licenses in the CCZ to secure raw materials critical for energy transition technologies. However, experts suggest the country may require several years to fully develop its deep-sea mining capabilities.

Recent developments include:

February 2022: Ocean Infinity announced the expansion of its robotic vessel fleet and acquired Geowynd to strengthen its offshore geotechnical capabilities.
March 2023: Loke Marine Minerals acquired UK Seabed Resources and a stake in Ocean Mineral Singapore, positioning itself as a major license holder in the CCZ.

Key Players

Nautilus Minerals Inc.
Loke Marine Minerals
Keppel Ltd.
Soil Machine Dynamics Ltd.
Royal IHC
Ocean Minerals LLC
China Minmetals Corporation
The Metals Company
De Beers Group
Deep Ocean Engineering
DEME Group
RJE International Inc.
Odyssey Marine Exploration
Acteon Group
Debmarine Namibia
Teledyne Marine Technologies Incorporated

Market Segmentation

By Technology

Remotely Operated Vehicles (ROVs)
Autonomous Underwater Vehicles (AUVs)
Subsea Mining Vehicles (SMVs)

By Extraction Method

Mechanical Collection
Hydraulic Systems

By Element

Polymetallic Nodules
Polymetallic Sulphides
Cobalt-rich Ferromanganese Crusts
Others

By Region

North America
Europe
Asia Pacific
Latin America
Middle East & Africa

1. Executive Summary

1.1. Global Marine Mining Market Snapshot
1.2. Future Projections
1.3. Key Market Trends
1.4. Regional Snapshot, by Value, 2025
1.5. Analyst Recommendations

2. Market Overview

2.1. Market Definitions and Segmentations
2.2. Market Dynamics
- 2.2.1. Drivers
- 2.2.2. Restraints
- 2.2.3. Market Opportunities
2.3. Value Chain Analysis
2.4. COVID-19 Impact Analysis
2.5. Porter's Fiver Forces Analysis
2.6. Impact of Russia-Ukraine Conflict
2.7. PESTLE Analysis
2.8. Regulatory Analysis
2.9. Price Trend Analysis
- 2.9.1. Current Prices and Future Projections, 2025-2032
- 2.9.2. Price Impact Factors

3. Global Marine Mining Market Outlook, 2019-2032

3.1. Global Marine Mining Market Outlook, by Technology, Value (US$ Bn), 2019-2032
- 3.1.1. Remotely Operated Vehicles (ROVs)
- 3.1.2. Autonomous Underwater Vehicles (AUVs)
- 3.1.3. Subsea Mining Vehicles (SMVs)
3.2. Global Marine Mining Market Outlook, by Extraction Method, Value (US$ Bn), 2019-2032
- 3.2.1. Mechanical collection
- 3.2.2. Hydraulic systems
3.3. Global Marine Mining Market Outlook, by Element, Value (US$ Bn), 2019-2032
- 3.3.1. Polymetallic Nodules
- 3.3.2. Polymetallic Sulphides
- 3.3.3. Cobalt-rich ferromanganese crusts
- 3.3.4. Others
3.4. Global Marine Mining Market Outlook, by Region, Value (US$ Bn), 2019-2032
- 3.4.1. North America
- 3.4.2. Europe
- 3.4.3. Asia Pacific
- 3.4.4. Latin America
- 3.4.5. Middle East & Africa

4. North America Marine Mining Market Outlook, 2019-2032

4.1. North America Marine Mining Market Outlook, by Technology, Value (US$ Bn), 2019-2032
- 4.1.1. Remotely Operated Vehicles (ROVs)
- 4.1.2. Autonomous Underwater Vehicles (AUVs)
- 4.1.3. Subsea Mining Vehicles (SMVs)
4.2. North America Marine Mining Market Outlook, by Extraction Method, Value (US$ Bn), 2019-2032
- 4.2.1. Mechanical collection
- 4.2.2. Hydraulic systems
4.3. North America Marine Mining Market Outlook, by Element, Value (US$ Bn), 2019-2032
- 4.3.1. Polymetallic Nodules
- 4.3.2. Polymetallic Sulphides
- 4.3.3. Cobalt-rich ferromanganese crusts
- 4.3.4. Others
4.4. North America Marine Mining Market Outlook, by Country, Value (US$ Bn), 2019-2032
- 4.4.1. U.S. Marine Mining Market Outlook, by Technology, 2019-2032
- 4.4.2. U.S. Marine Mining Market Outlook, by Extraction Method, 2019-2032
- 4.4.3. U.S. Marine Mining Market Outlook, by Element, 2019-2032
- 4.4.4. Canada Marine Mining Market Outlook, by Technology, 2019-2032
- 4.4.5. Canada Marine Mining Market Outlook, by Extraction Method, 2019-2032
- 4.4.6. Canada Marine Mining Market Outlook, by Element, 2019-2032
4.5. BPS Analysis/Market Attractiveness Analysis

5. Europe Marine Mining Market Outlook, 2019-2032

5.1. Europe Marine Mining Market Outlook, by Technology, Value (US$ Bn), 2019-2032
- 5.1.1. Remotely Operated Vehicles (ROVs)
- 5.1.2. Autonomous Underwater Vehicles (AUVs)
- 5.1.3. Subsea Mining Vehicles (SMVs)
5.2. Europe Marine Mining Market Outlook, by Extraction Method, Value (US$ Bn), 2019-2032
- 5.2.1. Mechanical collection
- 5.2.2. Hydraulic systems
5.3. Europe Marine Mining Market Outlook, by Element, Value (US$ Bn), 2019-2032
- 5.3.1. Polymetallic Nodules
- 5.3.2. Polymetallic Sulphides
- 5.3.3. Cobalt-rich ferromanganese crusts
- 5.3.4. Others
5.4. Europe Marine Mining Market Outlook, by Country, Value (US$ Bn), 2019-2032
- 5.4.1. Germany Marine Mining Market Outlook, by Technology, 2019-2032
- 5.4.2. Germany Marine Mining Market Outlook, by Extraction Method, 2019-2032
- 5.4.3. Germany Marine Mining Market Outlook, by Element, 2019-2032
- 5.4.4. Italy Marine Mining Market Outlook, by Technology, 2019-2032
- 5.4.5. Italy Marine Mining Market Outlook, by Extraction Method, 2019-2032
- 5.4.6. Italy Marine Mining Market Outlook, by Element, 2019-2032
- 5.4.7. France Marine Mining Market Outlook, by Technology, 2019-2032
- 5.4.8. France Marine Mining Market Outlook, by Extraction Method, 2019-2032
- 5.4.9. France Marine Mining Market Outlook, by Element, 2019-2032
- 5.4.10. U.K. Marine Mining Market Outlook, by Technology, 2019-2032
- 5.4.11. U.K. Marine Mining Market Outlook, by Extraction Method, 2019-2032
- 5.4.12. U.K. Marine Mining Market Outlook, by Element, 2019-2032
- 5.4.13. Spain Marine Mining Market Outlook, by Technology, 2019-2032
- 5.4.14. Spain Marine Mining Market Outlook, by Extraction Method, 2019-2032
- 5.4.15. Spain Marine Mining Market Outlook, by Element, 2019-2032
- 5.4.16. Russia Marine Mining Market Outlook, by Technology, 2019-2032
- 5.4.17. Russia Marine Mining Market Outlook, by Extraction Method, 2019-2032
- 5.4.18. Russia Marine Mining Market Outlook, by Element, 2019-2032
- 5.4.19. Rest of Europe Marine Mining Market Outlook, by Technology, 2019-2032
- 5.4.20. Rest of Europe Marine Mining Market Outlook, by Extraction Method, 2019-2032
- 5.4.21. Rest of Europe Marine Mining Market Outlook, by Element, 2019-2032
5.5. BPS Analysis/Market Attractiveness Analysis

6. Asia Pacific Marine Mining Market Outlook, 2019-2032

6.1. Asia Pacific Marine Mining Market Outlook, by Technology, Value (US$ Bn), 2019-2032
- 6.1.1. Remotely Operated Vehicles (ROVs)
- 6.1.2. Autonomous Underwater Vehicles (AUVs)
- 6.1.3. Subsea Mining Vehicles (SMVs)
6.2. Asia Pacific Marine Mining Market Outlook, by Extraction Method, Value (US$ Bn), 2019-2032
- 6.2.1. Mechanical collection
- 6.2.2. Hydraulic systems
6.3. Asia Pacific Marine Mining Market Outlook, by Element, Value (US$ Bn), 2019-2032
- 6.3.1. Polymetallic Nodules
- 6.3.2. Polymetallic Sulphides
- 6.3.3. Cobalt-rich ferromanganese crusts
- 6.3.4. Others
6.4. Asia Pacific Marine Mining Market Outlook, by Country, Value (US$ Bn), 2019-2032
- 6.4.1. China Marine Mining Market Outlook, by Technology, 2019-2032
- 6.4.2. China Marine Mining Market Outlook, by Extraction Method, 2019-2032
- 6.4.3. China Marine Mining Market Outlook, by Element, 2019-2032
- 6.4.4. Japan Marine Mining Market Outlook, by Technology, 2019-2032
- 6.4.5. Japan Marine Mining Market Outlook, by Extraction Method, 2019-2032
- 6.4.6. Japan Marine Mining Market Outlook, by Element, 2019-2032
- 6.4.7. South Korea Marine Mining Market Outlook, by Technology, 2019-2032
- 6.4.8. South Korea Marine Mining Market Outlook, by Extraction Method, 2019-2032
- 6.4.9. South Korea Marine Mining Market Outlook, by Element, 2019-2032
- 6.4.10. India Marine Mining Market Outlook, by Technology, 2019-2032
- 6.4.11. India Marine Mining Market Outlook, by Extraction Method, 2019-2032
- 6.4.12. India Marine Mining Market Outlook, by Element, 2019-2032
- 6.4.13. Southeast Asia Marine Mining Market Outlook, by Technology, 2019-2032
- 6.4.14. Southeast Asia Marine Mining Market Outlook, by Extraction Method, 2019-2032
- 6.4.15. Southeast Asia Marine Mining Market Outlook, by Element, 2019-2032
- 6.4.16. Rest of SAO Marine Mining Market Outlook, by Technology, 2019-2032
- 6.4.17. Rest of SAO Marine Mining Market Outlook, by Extraction Method, 2019-2032
- 6.4.18. Rest of SAO Marine Mining Market Outlook, by Element, 2019-2032
6.5. BPS Analysis/Market Attractiveness Analysis

7. Latin America Marine Mining Market Outlook, 2019-2032

7.1. Latin America Marine Mining Market Outlook, by Technology, Value (US$ Bn), 2019-2032
- 7.1.1. Remotely Operated Vehicles (ROVs)
- 7.1.2. Autonomous Underwater Vehicles (AUVs)
- 7.1.3. Subsea Mining Vehicles (SMVs)
7.2. Latin America Marine Mining Market Outlook, by Extraction Method, Value (US$ Bn), 2019-2032
- 7.2.1. Mechanical collection
- 7.2.2. Hydraulic systems
7.3. Latin America Marine Mining Market Outlook, by Element, Value (US$ Bn), 2019-2032
- 7.3.1. Polymetallic Nodules
- 7.3.2. Polymetallic Sulphides
- 7.3.3. Cobalt-rich ferromanganese crusts
- 7.3.4. Others
7.4. Latin America Marine Mining Market Outlook, by Country, Value (US$ Bn), 2019-2032
- 7.4.1. Brazil Marine Mining Market Outlook, by Technology, 2019-2032
- 7.4.2. Brazil Marine Mining Market Outlook, by Extraction Method, 2019-2032
- 7.4.3. Brazil Marine Mining Market Outlook, by Element, 2019-2032
- 7.4.4. Mexico Marine Mining Market Outlook, by Technology, 2019-2032
- 7.4.5. Mexico Marine Mining Market Outlook, by Extraction Method, 2019-2032
- 7.4.6. Mexico Marine Mining Market Outlook, by Element, 2019-2032
- 7.4.7. Argentina Marine Mining Market Outlook, by Technology, 2019-2032
- 7.4.8. Argentina Marine Mining Market Outlook, by Extraction Method, 2019-2032
- 7.4.9. Argentina Marine Mining Market Outlook, by Element, 2019-2032
- 7.4.10. Rest of LATAM Marine Mining Market Outlook, by Technology, 2019-2032
- 7.4.11. Rest of LATAM Marine Mining Market Outlook, by Extraction Method, 2019-2032
- 7.4.12. Rest of LATAM Marine Mining Market Outlook, by Element, 2019-2032
7.5. BPS Analysis/Market Attractiveness Analysis

8. Middle East & Africa Marine Mining Market Outlook, 2019-2032

8.1. Middle East & Africa Marine Mining Market Outlook, by Technology, Value (US$ Bn), 2019-2032
- 8.1.1. Remotely Operated Vehicles (ROVs)
- 8.1.2. Autonomous Underwater Vehicles (AUVs)
- 8.1.3. Subsea Mining Vehicles (SMVs)
8.2. Middle East & Africa Marine Mining Market Outlook, by Extraction Method, Value (US$ Bn), 2019-2032
- 8.2.1. Mechanical collection
- 8.2.2. Hydraulic systems
8.3. Middle East & Africa Marine Mining Market Outlook, by Element, Value (US$ Bn), 2019-2032
- 8.3.1. Polymetallic Nodules
- 8.3.2. Polymetallic Sulphides
- 8.3.3. Cobalt-rich ferromanganese crusts
- 8.3.4. Others
8.4. Middle East & Africa Marine Mining Market Outlook, by Country, Value (US$ Bn), 2019-2032
- 8.4.1. GCC Marine Mining Market Outlook, by Technology, 2019-2032
- 8.4.2. GCC Marine Mining Market Outlook, by Extraction Method, 2019-2032
- 8.4.3. GCC Marine Mining Market Outlook, by Element, 2019-2032
- 8.4.4. South Africa Marine Mining Market Outlook, by Technology, 2019-2032
- 8.4.5. South Africa Marine Mining Market Outlook, by Extraction Method, 2019-2032
- 8.4.6. South Africa Marine Mining Market Outlook, by Element, 2019-2032
- 8.4.7. Egypt Marine Mining Market Outlook, by Technology, 2019-2032
- 8.4.8. Egypt Marine Mining Market Outlook, by Extraction Method, 2019-2032
- 8.4.9. Egypt Marine Mining Market Outlook, by Element, 2019-2032
- 8.4.10. Nigeria Marine Mining Market Outlook, by Technology, 2019-2032
- 8.4.11. Nigeria Marine Mining Market Outlook, by Extraction Method, 2019-2032
- 8.4.12. Nigeria Marine Mining Market Outlook, by Element, 2019-2032
- 8.4.13. Rest of Middle East Marine Mining Market Outlook, by Technology, 2019-2032
- 8.4.14. Rest of Middle East Marine Mining Market Outlook, by Extraction Method, 2019-2032
- 8.4.15. Rest of Middle East Marine Mining Market Outlook, by Element, 2019-2032
8.5. BPS Analysis/Market Attractiveness Analysis

9. Competitive Landscape

9.1. Company Vs Segment Heatmap
9.2. Company Market Share Analysis, 2025
9.3. Competitive Dashboard
9.4. Company Profiles
- 9.4.1. Nautilus Minerals Inc.
  - 9.4.1.1. Company Overview
  - 9.4.1.2. Product Portfolio
  - 9.4.1.3. Financial Overview
  - 9.4.1.4. Business Strategies and Developments
- 9.4.2. Loke Marine Minerals
  - 9.4.2.1. Company Overview
  - 9.4.2.2. Product Portfolio
  - 9.4.2.3. Financial Overview
  - 9.4.2.4. Business Strategies and Developments
- 9.4.3. Keppel Ltd.
  - 9.4.3.1. Company Overview
  - 9.4.3.2. Product Portfolio
  - 9.4.3.3. Financial Overview
  - 9.4.3.4. Business Strategies and Developments
- 9.4.4. Soil Machine Dynamics Ltd.
  - 9.4.4.1. Company Overview
  - 9.4.4.2. Product Portfolio
  - 9.4.4.3. Financial Overview
  - 9.4.4.4. Business Strategies and Developments
- 9.4.5. Royal IHC
  - 9.4.5.1. Company Overview
  - 9.4.5.2. Product Portfolio
  - 9.4.5.3. Financial Overview
  - 9.4.5.4. Business Strategies and Developments
- 9.4.6. Ocean Minerals LLC
  - 9.4.6.1. Company Overview
  - 9.4.6.2. Product Portfolio
  - 9.4.6.3. Financial Overview
  - 9.4.6.4. Business Strategies and Developments
- 9.4.7. China Minmetals Corporation
  - 9.4.7.1. Company Overview
  - 9.4.7.2. Product Portfolio
  - 9.4.7.3. Financial Overview
  - 9.4.7.4. Business Strategies and Developments
- 9.4.8. The Metals Company
  - 9.4.8.1. Company Overview
  - 9.4.8.2. Product Portfolio
  - 9.4.8.3. Financial Overview
  - 9.4.8.4. Business Strategies and Developments
- 9.4.9. De Beers Group
  - 9.4.9.1. Company Overview
  - 9.4.9.2. Product Portfolio
  - 9.4.9.3. Financial Overview
  - 9.4.9.4. Business Strategies and Developments
- 9.4.10. Deep Ocean Engineering
  - 9.4.10.1. Company Overview
  - 9.4.10.2. Product Portfolio
  - 9.4.10.3. Financial Overview
  - 9.4.10.4. Business Strategies and Developments
- 9.4.11. DEME Group
  - 9.4.11.1. Company Overview
  - 9.4.11.2. Product Portfolio
  - 9.4.11.3. Financial Overview
  - 9.4.11.4. Business Strategies and Developments
- 9.4.12. The Metals Company
  - 9.4.12.1. Company Overview
  - 9.4.12.2. Product Portfolio
  - 9.4.12.3. Financial Overview
  - 9.4.12.4. Business Strategies and Developments
- 9.4.13. Odyssey Marine Exploration
  - 9.4.13.1. Company Overview
  - 9.4.13.2. Product Portfolio
  - 9.4.13.3. Financial Overview
  - 9.4.13.4. Business Strategies and Developments
- 9.4.14. Acteon Group
  - 9.4.14.1. Company Overview
  - 9.4.14.2. Product Portfolio
  - 9.4.14.3. Financial Overview
  - 9.4.14.4. Business Strategies and Developments
- 9.4.15. Debmarine Namibia
  - 9.4.15.1. Company Overview
  - 9.4.15.2. Product Portfolio
  - 9.4.15.3. Financial Overview
  - 9.4.15.4. Business Strategies and Developments

10. Appendix

10.1. Research Methodology
10.2. Report Assumptions
10.3. Acronyms and Abbreviations