Mining Drills & Breakers Market Size, Share & Industry Analysis, By Type (Drills (Rotatory Drills, Crawler Drills), Breakers (Rock Breakers,Hydraulic Breakers)), By Application(Coal Mining, Mineral Mining, Metal Mining, Others (Gem Stone, Chalk etc.)) Others and Regional Forecast, 2024-2032
KEY INDUSTRY INSIGHTS
Mining drills refer to the equipment that are utilized to drill the surface of earth for mining operations. Breakers are used to demolish and break stones or rocks for mining. Mining drills include blast-hole drills, rotary drills, and percussive drills. The technological developments including infrared, sonic, optical micro-cameras, and IoT and increase in investments related to mining industries are expected to create new opportunities in the market. The global mining equipment market is expected to cross USD 165 Bn by 2025, which would boost the growth of mining drill and breakers market during the forecast period 2019-2026.
Key Market Driver -
• Expansion of underground and surface mining operations globally. • Increasing mining companies collaborations with customers and competitors to share development costs and introduce new products.
Key Market Restraint -
• Government regulations related to the environment and mining operations to control the pollution.
The emergence of Internet of Things (IoT) technologies is a significant trend followed by competitors to provide services to customers, such as purchase-to-pay automation and sensing techniques. The key mining companies are also increasing their R&D investments to offer enhanced efficiency and safer mining operations. These factors are anticipated to fuel the growth of the global mining drills and breakers market during the forecast period 2019-2026.
Key Players Covered:
The key players in global mining drills and breakers market include Caterpillar Inc., Boart Longyear Ltd., Sandvik AB, Geodrill Ltd., Komatsu Ltd., Epiroc AB, Metso Corporation, Energold Drilling Corporation, Doosan Corporation, Furukawa Co. Ltd. etc.
Regional Analysis:
Asia Pacific is expected to dominate the mining drills & breakers market during the forecast period 2019-2026, owing to economic expansion in the region combined with growing automation of construction and mining processes. Regional players in Asia Pacific are stressing on providing cost-effective products over energy-efficient equipment, primarily in price-sensitive markets. Additionally, the increasing government focus and support for exploration activities in the emerging economies is also expected to contribute to the Asia Pacific mining drills and breakers market. For instance, economies such as India, Japan, and Australia are playing a noteworthy role to increase their market share in global minerals trade by incrementally meeting the growing demand for metals and minerals.
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Europe, being a viable resource base, the demand for raw materials in the region is continuously increasing. Additionally, lack of investments and high-energy cost in activities to cut down the cost associated with metal value and deep deposits is hampering the regional industry growth.
Segmentation
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Key Industry Developments
- June 2018- Boart Longyear launched TruShot downhole survey technology. This new technology aims to provide various mining clients with high quality and beneficial geological data.
- July 2018- Komatsu Ltd. established partnership with UMW Corporation to start a joint-venture sales company. The collaboration aims to strengthen marketing and product support operations, and further expand the mining equipment business.
- Ongoing
- 2023
- 2019-2022
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