Deep-Sea Mining Market Size, Share and Trends 2025 to 2034

What is the Deep-Sea Mining Market Size?

The global deep-sea mining market is witnessing rapid growth as companies and governments explore seabed resources to meet the rising demand for critical minerals essential for renewable energy and advanced technologies.The market is growing due to increasing global demand for critical minerals, such as cobalt, nickel, and rare earth elements, which are used in batteries and high-tech applications.

Deep-Sea Mining Market Key Takeaways

• Asia Pacific dominated the market with the largest market share of 55% in 2024.
• Europe is expected to grow at a notable CAGR during the forecast period.
• By resource type, the polymetallic nodules segment held the biggest market share of 50% in 2024.
• By resource type, the cobalt-rich ferromanganese crusts segment is expected to grow at the fastest CAGR during the forecast period.
• By mining technique, the remotely operated vehicles (ROVs) segment captured the highest market share of 40% in 2024.
• By mining technique, the autonomous underwater vehicles (AUVs) segment is expected to grow at the fastest CAGR during the forecast period.
• By application, the battery metals for the EVs segment contributed the maximum market share of 45% in 2024.
• By application, the used renewable energy storage segment is expected to grow at the fastest CAGR during the forecast period
• By end-use industry, the automotive & electric mobility segment held the largest share of 48% in 2024
• By end-use industry, the energy & power segment is expected to grow at the fastest CAGR during the forecast period.

Strategic Overview of the Global Deep-Sea Mining Industry

The deep-sea mining market is growing due to the increasing demand for rare earth elements, cobalt, nickel, and other essential minerals for high-tech applications, batteries, and renewable energy sources. Deep-sea extraction is becoming increasingly practical due to advancements in autonomous and remotely operated technologies. Regulatory frameworks are striving to strike a balance between resource utilization and environmental preservation. Geopolitical considerations are pushing governments and businesses to protect vital mineral resources.

• In March 2025, the metals company announced plans to apply for U.S. permits to extract ocean floor minerals. The company highlighted its goal to provide a domestic source of critical metals for EV batteries and high-tech industries.(Source: https://apnews.com)

Artificial Intelligence: The Next Growth Catalyst in Deep-Sea Mining

Artificial intelligence is transforming deep-sea mining by improving operational efficiency, safety, and sustainability. Mining vehicle autonomous navigation, predictive maintenance, and real-time environmental monitoring are made possible by machine learning, robotics, and autonomous systems. AI supports ethical and sustainable mining methods by streamlining resource mapping and extraction procedures while reducing environmental impact.

• In April 2025, AZoMining published how AI optimizes equipment usage and enables real-time environmental monitoring in deep-sea mining.(Source: https://www.azomining.com)

Deep-Sea Mining Market Trends

• Industry Growth Overview: The deep-sea mining market is growing due to electric vehicle batteries and renewable energy requiring a lot of essential minerals like nickel, cobalt, and rare earths. Advances in technology, such as ROVs and AUVs, are increasing the safety and efficiency of extraction. North America and Europe are developing as rapidly expanding regions, while the Asia Pacific dominates the market.
• Sustainability Trends: Businesses use baseline ecological surveys and low-impact mining techniques as part of their commitment to environmental responsibility. Sustainable operations are guaranteed by adherence to International Seabed Authority regulations. Technologies for mapping and monitoring driven by AI reduce ecological disturbance while promoting ethical mineral extraction.
• Global Expansions: Through collaboration, joint ventures, and exploration licenses, businesses are growing internationally. While Europe is expanding pilot projects with stringent environmental standards, the Asia Pacific still leads exploration. Initiatives for collaboration among mining companies, academic institutions, and energy companies improve technology deployment and knowledge exchange.
• Major Investors: Investors include private companies, public entities, and strategic partners, focusing on sustainable mining solutions. Key players include The Metals Company, Xerion Advanced Battery Corp., China Minmetals, and Global Sea Mineral Resources. Automakers and renewable energy companies are also investing to secure long-term supply chains for EVs and energy storage.

Market Outlook

• Market Growth Overview: The Deep-Sea Mining market is expected to grow significantly between 2025 and 2034, driven by escalating global demand for critical minerals and the depletion of land-based resources. This expansion is currently constrained by regulatory uncertainty and substantial environmental concerns, with the market remaining in a primary exploration phase.
• Sustainability Trends: Sustainability trends involve the focus on scientific research and environmental baselines, the development of low-impact technologies, and shaping global regulatory frameworks.
• Major Investors: Major investors in the market include The Metals Company (TMC), China Minmetals Corporation, Global Sea Mineral Resources NV (GSR), and Nautilus Minerals Inc.
• Startup Economy: The startup economy is focused on environmental monitoring and mapping, AI and robotics for selective harvesting, and data analysis and resource assessment.

Market Scope

Market Dynamics

Drivers

Rising Demand for Critical Minerals Growing the Deep-Sea Mining Market

The market is expanding due to the growing demand for cobalt, nickel, and rare earth elements in batteries, electric cars, and renewable energy technologies. The global shift to cleaner energy sources and the expanding electronics sector both increase this demand. The growing energy storage and electric mobility projects worldwide continue to fuel demand for minerals.

• In April 2025, Impossible Metals applied for a deep-sea mining lease off the coast of American Samoa to extract critical minerals like nickel and cobalt. The company aims to strengthen the U.S. supply chain for high-tech industries.(Source: https://www.reuters.com)

Sustainability and Environmental Regulations Spur Growth in Deep-Sea Mining Market

Developments in robotics and AI enable more ecologically friendly extraction techniques that support international sustainability objectives. To minimize ecological impact, these technologies enable predictive modeling and ongoing monitoring, allowing for informed decision-making. Green mining practices are being adopted by businesses more frequently to meet public expectations and international standards.

Restraints

High Operational Costs Inhibit the Deep-Sea Mining Market

Due to the requirement for sophisticated machinery, governing systems, and specialized vessels, deep-sea mining entails substantial capital expenditure. These exorbitant prices may deter smaller businesses from entering the market and slow down the adoption of these technologies in general. Underwater machinery maintenance and repairs also increase operating costs.

Market Uncertainty and Investment Risks Are Other Major Obstacles

Global mineral price fluctuations, geopolitical unrest, and environmental resistance all contribute to investor uncertainty. This may limit financial resources and impede the progress of major projects. Companies are wary of expanding when the returns on high capital projects are uncertain. Investor hesitancy may lead to delays in the adoption of new technologies and research projects.

Opportunities

Onshore Processing Facilities

To maximize the value of extracted minerals, processing facilities should be built close to ports or mining centers. This reduces transportation costs, supports regional businesses, and ensures the production of high-purity metals for electronics and batteries. Onshore facilities also create skilled jobs and boost local economies. Additionally, investing in green processing technologies can align with ESG goals and reduce the environmental footprint.

Technological Innovation

Purchasing AI-powered robotics and autonomous underwater vehicles enhances environmental compliance efficiency and safety. Advances in deep-sea mining technology have the potential to drastically lower operating costs and enable extraction in previously unreachable regions. To obtain regulatory approvals, advanced monitoring systems also help reduce environmental impacts. Effects.

Segmental Insights

Resource Type Insights

Why Did the Polymetallic Nodules Segment Dominate the Deep-Sea Mining Market in 2024?

Polymetallic nodules dominated the deep-sea mining market in 2024, driven by their high concentration of vital minerals, including manganese, nickel, copper, and cobalt, as well as their abundance. Due to their widespread distribution on the ocean floor, especially in the Clarison Clipperton Zone, these nodules are desirable for extensive extraction. Its leading position in the industry has been strengthened by its potential to supply essential raw materials for EV batteries and renewable energy applications.

• In June 2024, The Metals Company (TMC) & SGS produced the world's first cobalt sulfate from deep-seafloor polymetallic nodules, demonstrating commercial viability for battery-grade cobalt.(Source: https://www.globenewswire.com)

Cobalt-rich ferromanganese crusts segment is growing rapidly owing to growing cobalt demand in renewable energy storage and EVs. Unlike nodules, these crusts, which are found on seamounts and underwater ridges, provide high cobalt yields. Investments in exploration and mining technologies are increasing due to their potential to meet the world's cobalt needs despite greater extraction challenges.

• In July 2025, Japan Government / JAMSTEC announced it will begin test mining rare-earth-rich seabed mud near Minamitori Island, targeting rare earths like neodymium and dysprosium for renewable energy applications.(Source: https://www.reuters.com)

Mining Technique Insights

What Made the Remotely Operated Vehicles (ROVs) Segment Dominate the Deep-Sea Mining Market in 2024?

The remotely operated vehicles (ROVs) segment dominated the market because of their proven capabilities in underwater exploration and mineral collection. They offer high precision, reliability, and real-time control, making them the preferred choice for large-scale pilot projects.

• In May 2024, The Metals Company's NORI (subsidiary) submitted a large environmental baseline dataset using ROVs, including over 12,000 seafloor images, to the International Seabed Authority (ISA) for its NORI-D exploration area.(Source: https://oceanminingintel.com)

The autonomous underwater vehicles (AUVs) segment is growing fastest in the deep-sea mining market because of developments in autonomous navigation, AI, and sensor technology. Because AUVs can cover larger seabed areas without direct human control and have lower operating costs, they are becoming increasingly appealing for mineral exploration.

Application Insights

What Made Battery Metals for the EVs Segment Dominate the Deep-Sea Mining Market in 2024?

Battery metals for the EV segment dominated the market in 2024 due to increased demand for nickel, cobalt, and manganese worldwide. In terrestrial mining, deep-sea resources are increasingly seen as a strategic way to mitigate supply chain risks. Seabed mining is now a significant source of essential materials due to the growing global targets for EV production.

• In April 2025, Xerion Advanced Battery Corp. launched a pilot-scale cobalt refinement plant in Dayton, Ohio, achieving over 98% recovery and >99% pure cobalt, demonstrating supply potential for EV batteries.(Source: https://www.miningmetalnews.com)

The renewable energy storage segment is growing rapidly as the demand for cobalt and rare earth elements, which are utilized in solar installations, wind turbines, and grid storage, increases. Interest in minerals sourced from the seabed is also fueled by growing government incentives for renewable technologies.

End Use Industry Insights

Why Did the Automotive & Electric Mobility Segment Dominate the Deep-Sea Mining Market?

The automotive & electric mobility segment dominated the market due to the growing demand for EVs. Seabed mining offers a substitute for land-based supply chain risks, which automakers are actively seeking to mitigate. Supply chain security is enhanced when mining companies and automakers collaborate to work together.

The energy & power segment is growing faster in the deep-sea mining market, driven by infrastructure for renewable energy and rising demand for grid storage. Advancements in long-duration energy storage further increase the demand for deep-sea minerals.

Regional Insights

What Made Asia Pacific Dominate the Deep-Sea Mining Market in 2024?

The Asia Pacific dominated the deep-sea mining market due to significant investment, proximity to seabeds rich in resources, and high demand for EV batteries and renewable energy technologies in the region. Countries are also enticing exploration with regulatory incentives. The area's leadership in deep-sea mining is further reinforced by its emphasis on environmental compliance and technological innovation.

Asia Pacific: China Deep-Sea Mining Market Trends

China's market is driven by the strategic national priority of securing critical minerals and reducing reliance on foreign supply chains. The extensive government support, substitutional R&D funding for advanced submersibles, and a focus on long-term geopolitical influence through numerous international seabed authority exploration contracts.

Europe is experiencing rapid growth, driven by the EU's strategic push for critical minerals and its sustainable sourcing initiatives. Investment in research and pilot projects strengthens regional capabilities. Additionally, Europe is implementing strict environmental and regulatory frameworks to ensure responsible deep-sea mining practices, which attracts global partnerships.

Europe: Germany Deep-Sea Mining Market Trends

Germany's market growth is driven by the fully understood and strict regulations are in place. Despite this, Germany remains a key player in scientific exploration, holding International Seabed Authority contracts and developing niche subsea technologies. The market's approach balances the strategic need for critical minerals with a strong commitment to environmental protection and shaping robust global regulations.

Value Chain Analysis of the Deep-Sea Mining Market

• Exploration and Resource Assessment
  This foundational stage involves surveying the deep seabed to identify and quantify mineral resources like polymetallic nodules, cobalt-rich crusts, and polymetallic sulfides.
• Technology Development and Equipment Manufacturing
  This stage focuses on developing and producing the highly specialized equipment required for deep-sea mineral extraction, which must withstand extreme pressure, low temperatures, and corrosive seawater.
  Key Players: Kawasaki Heavy Industries and Soil Machine Dynamics Ltd., and Kongsberg Maritime
• Extraction and Riser Systems
  This is the operational stage where mineral deposits are physically collected from the seabed and transported to a surface vessel via a riser system.
  Key Players: The Metals Company.
• Processing and Beneficiation
  Once on the vessel, the raw ore needs to be processed to separate the target minerals from waste sediment and water.
  Key Players: Glencore, BHP, and Rio Tinto.
• Logistics, Refining, and Product Marketing
  This final stage includes transporting the processed material to refineries, refining the final product to a high purity, and marketing it to end-use industries.
  Key Players: China Minmetals Corporation

Top Companies in the Deep-Sea Mining Market & Their Offerings:

• Nautilus Minerals Inc: Nautilus was an early pioneer in deep-sea mining, focusing on developing equipment to extract seafloor massive sulfides (SMS) from the Papua New Guinea continental shelf.
• DeepGreen Metals / The Metals Company (TMC): TMC is a major player focused on collecting polymetallic nodules from the Clarion Clipperton Zone of the Pacific Ocean to source battery metals like cobalt, nickel, and copper.
• Ocean Minerals, LLC: A subsidiary of Lockheed Martin, Ocean Minerals holds an exploration license from the ISA and is involved in the technology development side of deep-sea mining.
• Lockheed Martin Corporation: As a leading global security and aerospace company, Lockheed Martin provides technical expertise and engineering capabilities relevant to the extreme conditions of the deep sea. Through its subsidiary, Ocean Minerals, it is involved in the research and potential development of deep-sea mining systems.
• Global Sea Mineral Resources NV (GSR, DEME Group): GSR, the deep-sea research arm of the Belgian DEME Group, holds exploration contracts for polymetallic nodules in the Pacific and has conducted extensive environmental impact studies and technology trials. It is a key entity in proving the technical feasibility and understanding the environmental aspects of nodule collection.
• Keppel Corporation Limited: Keppel is a marine and offshore engineering company that could provide the specialized vessels and surface infrastructure required for processing minerals and supporting subsea mining operations.
• Soil Machine Dynamics Ltd.: SMD is an engineering company that manufactures specialized subsea vehicles and trenching machines used in the oil and gas and deep-sea mining exploration industries.
• Odyssey Marine Exploration, Inc.: Known primarily for shipwreck exploration and salvage, Odyssey also holds exploration interests in mineral deposits, particularly polymetallic sulfides. The company's expertise in marine archaeology and data collection is being applied to mineral resource assessment.
• Royal IHC: Royal IHC is a Dutch company that provides vessels and equipment for the dredging industry and potential deep-sea mining applications. Its expertise in material handling systems, including slurry lift pumps and processing equipment, is essential for bringing collected minerals to the surface.
• Kongsberg Gruppen: This Norwegian technology company provides advanced marine technology and systems for subsea operations, including sensors, data acquisition systems, and autonomous underwater vehicles (AUVs) used in deep-sea exploration. Its technology is crucial for mapping the seafloor and monitoring environmental impacts.
• China Minmetals Corporation: A state-owned Chinese metals and trading giant, China Minmetals is involved in the exploration side of the market through affiliated entities holding ISA contracts. The company provides a direct link between the exploration phase and the broader Chinese domestic refining and supply chain for critical minerals.
• Japan Oil, Gas and Metals National Corporation: This government agency is involved in deep-sea mineral exploration to secure Japan's raw material supply, funding R&D and exploration activities. Its mission is critical for ensuring national resource security in the long term.
• Neptune Minerals Inc.: Neptune Minerals was an exploration company focused on developing technologies to mine seafloor massive sulfides before its acquisition by another exploration entity.
• Deep Reach Technology, Inc.: A private company focusing on developing the technology and systems required for deep-ocean mineral recovery.

Deep-Sea Mining Market Companies

• Nautilus Minerals Inc
• DeepGreen Metals / The Metals Company (TMC)
• Ocean Minerals, LLC
• Lockheed Martin Corporation
• Global Sea Mineral Resources NV (GSR, DEME Group)
• Keppel Corporation Limited
• Soil Machine Dynamics Ltd.
• Odyssey Marine Exploration, Inc.
• Royal IHC
• Kongsberg Gruppen
• China Minmetals Corporation
• Japan Oil, Gas and Metals National Corporation
• Neptune Minerals Inc.
• Deep Reach Technology, Inc.

Segments Covered in the Report

By Resource Type

• Polymetallic Nodules (Manganese, Nickel, Cobalt, Copper)
• Cobalt-Rich Ferromanganese Crusts
• Polymetallic Sulfides (Gold, Silver, Copper, Zinc)
• Rare Earth Elements (REEs)

By Mining Technique

• Remotely Operated Vehicles (ROVs)
• Autonomous Underwater Vehicles (AUVs)
• Seabed Dredging & Excavation
• Riser Systems & Lifting Equipment
• Drilling & Cutting Systems

By Application

• Battery Metals for EVs
• Renewable Energy Storage
• Electronics & Semiconductors
• Aerospace & Defense Materials
• Industrial Metallurgy

By End-Use Industry

• Automotive & Electric Mobility
• Energy & Power (Renewables, Storage)
• Electronics & IT
• Aerospace & Defense
• Industrial Manufacturing

By Region

• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East & Africa