Global Mining Drilling Services Market Report and Forecast 2024-2032

Global Mining Drilling Services Market Outlook

The global mining drilling services market stood at a value of around USD 2.86 billion in 2023. The market is further expected to grow in the forecast period of 2024-2032 at a CAGR of 6.50% to reach USD 5.06 billion by 2032.

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Increasing Demand for Coal for various Applications is Driving the Global Mining Drilling Services Industry

The increasing demand for coal is propelling the demand for drilling services for coal mining. Over the forecast period, the anticipated rise in demand for coal, due to heightened application in power generation and cement and steel production is likely to bolster the market growth. In addition to this, favourable policies of the government of emerging economies to ramp up the production of coal to bridge the gap between demand and supply of coals is likely to aid the coal mining segment. Moreover, coal is comparatively cheaper to mine and the supplies of this fossil fuel is more than its counterparts such as oil and gas. These advantages of coal mining are anticipated to generate a significant demand for drilling services. Furthermore, the growing research and development activities aimed towards reducing the detrimental impact on environment by coal mining are likely to be a boon for the market over the forecast period.

The Asia Pacific Accounts for a Significant Share in the Market for Mining Drilling Services

The market in this region is being driven by the increasing demand for mining drilling services for the excavation of precious minerals such as gold, silver, and platinum in countries such as India, where the requirement of jewellery and ornaments is high. Over the forecast period, the rapid industrialisation, urbanisation, and infrastructure development in the emerging economies of the continent is anticipated to boost the demand for mining drilling services. Moreover, the rising aerospace and defence expenditure in the military power such as India and China are propelling the demand for durable and strong metals for the manufacture of equipment. This is likely to accelerate the mining processes in the coming years.

Market Segmentation

Mining drilling services refer to the process of extracting valuable minerals and metals for various mining customer bases. These services may include the offering of different samples of soil for analysis purposes, land exploration, and geotechnical applications. The methods of drilling involved in these services differ, and can include auger drilling, aircore, and diamond core, among others.

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Based on mining type, the market can be segmented into:

• Coal
• Metal
• Mineral
• Quarry

The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

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Increasing Application of Mining Drilling Services for the Extraction of Valuable Metals to Boost the Growth of the Mining Drilling Services Industry

The increasing demand for mining drilling services for the extraction of valuable metals owing to the increasing application of these metals in building and construction and automotive industry is driving the market growth. In addition to this, the growing demand for lithium to manufacture lithium-ion batteries is propelling the dependence on mining drilling services. In this regard, an increased adoption of lithium-ion battery powered electronic gadgets in the household is being witnessed. Moreover, drilling techniques for mining applications are extremely reliable and can maximise output even in toughest conditions. Over the forecast period, the increasing preference of mining customers towards drilling services providing equipment capable of carrying out high-capacity rock drilling in quarries and rock excavation projects is anticipated to accelerate the market growth. Furthermore, the market is anticipated to be aided by the technological advancements in the drilling technology which include the penetration of global positioning system (GPS) and wireless communication and sensors, which are likely to bolster the operational efficiency and precision in the drilling process.

Key Players in the Global Mining Drilling Services Market

The report gives a detailed analysis of the following key players in the global mining drilling services market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

• Action Drill & Blast
• Perenti Global Limited
• Boart Longyear
• Byrnecut Australia Pty Ltd
• PT United Tractors TBK
• Others

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.

Key Highlights of the Report

Mining Drilling Services Market Report Snapshots

Mining Drilling Services Market Size

Mining Drilling Services Market Share

Mining Drilling Services Market Growth

Mining Drilling Services Companies