LONDON, June 13, 2018 /PRNewswire/ -- Report Scope:
This research report categorizes the gold market by the type of establishments it caters to, these include jewelry, bars and coins and technology.
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Report Includes:
- 93 tables
- Regional coverage for Eastern Europe, Western Europe, North America, South America, Africa, Middle East, and Asia-Pacific
- Country specific analysis for USA, UK, Germany, France, Italy, Spain, Russia, Brazil, China, India, Japan and Australia
- Information on market growth factors, such as drivers, restraints, and trends along with market characteristics
- Coverage of the future commercial potential for key market segments
- Company profiles of major gold mining companies, providers of gold mining equipment, and marketers and distributors of new gold including AngloGold Ashanti Ltd, Barrick Gold Corp, Kinross Gold Corp, Newmont Mining Corp.
Summary
The global gold market growth outlook is stable with significant growth potential for gold mining.Emerging market growth, government investments in gold, revival of closed mines globally is driving the demand for gold.
At the same time, there is mounting pressure on gold mining companies to reduce costs and improve margins.
The market for gold reached a value of nearly REDACTED billion in 2017 and is expected to grow at a compound annual growth rate (CAGR) of REDACTED to nearly REDACTED by 2022.
The market for gold is somewhat concentrated with a few large players leading the market. Major players in the market are Barrick Gold Corporation, New mont Mining Corporation, Zijin Mining Group, Ango Gold Ashanti, Kinross Gold Corporation and others.
Jewelry accounted for the largest share of the market for gold in 2017 at REDACTED.The highest growth is projected to come from technology, which is forecasted to grow at a CAGR of REDACTED.
Major factors included economic growth and technological advancements.
Asia-Pacific is the largest market for gold, accounting for REDACTED of the global market.It was followed bythe Middle East and North America.
Going forward, North America is expected to witness the fastestgrowth in the gold market, estimated to grow at a CAGR of REDACTED, followed by South America, which isexpected to grow at a CAGR of REDACTED.
China is the largest market in terms of value in the gold market. India and the Japan are forecasted to have the fastest growth, growing at a CAGR of REDACTED and REDACTED, respectively.
The market is challenged by restraints such as depleting gold reserves, shortage of skilled labor, fatal mining accidents and increasing trade protectionism.
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