IMARC Group, a leading market research company, has recently releases report titled “Mining Drilling Services Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global mining drilling services market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
Report Highlights
How big is the mining drilling services market?
The global mining drilling services market size reached US$ 2.5 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 3.8 Billion by 2028, exhibiting a growth rate (CAGR) of 7.46% during 2023-2028.
What are mining drilling services?
Mining drilling services involve a range of drilling activities performed on a contract basis to extract various commodities, such as coal, metals, and minerals. Some commonly offered mining drilling services include mine exploration, development, production, and mine closure. They rely on mud motors, autonomous drills, and rotary steerable systems for logging-while-drilling (LWD) and measurement-while-drilling (MWD) operations. They aid in surface and underground blast hole drilling, cabling and dewatering, underground roof bolting, and body characterization. They also assist in enhancing the efficiency of mining operations and improving the safety of workers while offering precise depth tracking. As a result, mining drilling services are gaining immense traction in coal, quarry, mineral, and metal mining.
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What are the growth prospects and trends in the mining drilling services industry?
The increasing onshore and offshore oil exploration activities represent the primary factor driving the market growth. Additionally, the escalating energy demand across the globe has led to the widespread adoption of efficient mining drilling services in both developed and developing countries for the optimum extraction of oil and gas resources. In line with this, the shifting inclination toward low-emission energy and transportation systems across various industries has catalyzed market growth. This is further supported by the large-scale integration of automobile components that utilize mineral-based fuels instead of fossil fuels by automotive manufacturers to reduce carbon footprints.
What is included in market segmentation?
The report has segmented the market into the following categories:
Breakup by Mining Type:
- Metal
- Coal
- Mineral
- Quarry
Breakup by Region:
- North America (U.S. & Canada)
- Europe (Germany, United Kingdom, France, Italy, Spain, Russia, and Others)
- Asia Pacific (China, India, Japan, South Korea, Indonesia, Australia, and Others)
- Latin America (Brazil, Mexico)
- Middle East & Africa
Who are the key players operating in the industry?
The report covers the major market players including:
- Action Drill & Blast
- Baker Hughes
- Boart Longyear
- Byrnecut Group
- Halliburton Company
- Perenti Global Limited
- PT UNITED TRACTORS TBK
- Schlumberger Limited.
Note: If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.
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