The Global Mining Drills & Breakers Market is projected to reach USD 23.89 billion by 2028, growing at a CAGR of 7.5% during the forecast period.
Mining Drills & Breakers Market
Mining drills are equipment that is utilized to drill holes in the earth's surface for mining operations. Breakers are used to break or demolish stones or rock for mining. Mining drills include rotary drills, blast-hole drills, and percussive drills. The different types of breakers include mobile and stationary hydraulic breakers and other rock breakers. The drills are primarily used to drill holes in the earth's surface to place the explosive for blasting. The drills consist of the mast, rod changer, rotary head, air compressor, drill pipes, and dust ducting. Breakers consist of side rods, chambers, main valve, piston, and front cap. These breakers are employed in mining applications such as trenching, rock demolition, and quarrying.
Factors such as the expansion of underground and surface mining operations over the globe have increased the demand for a variety of drills and breakers. In addition, an increase in demand for underground mining equipment fuels the mining drills and breakers' growth. For ore and mineral mining, the surface is dug and debris is removed, rocks are broken into smaller pieces and further crushed. Such mining operations need breakers for the primary rock mining process, thereby driving the demand for breakers in the mining industries. In addition, the rise in mining activities for coal and metal acts as a major driver for the mining drills & breakers market across the globe. However, government regulations related to the mining operations restrict the growth of the mining drills and breakers mining drills & breakers market. For instance, China has approved the Environmental Protection Tax Law, which came into effect on 1 January 2018 for mining and mineral processing. The aim of the law is to control the pollution that could impact commodities production in China. The new law cover mining of metals and mineral such as tin, copper, lead, and calcium carbonate. Technological innovations such as sonic, infrared, IoT, and optical micro cameras are expected to fuel the growth of the drills and breakers mining drills & breakers market in the future. Similarly, artificial intelligence can also facilitate drills to dig holes safely and efficiently, which is crucial for performing mining operations. For instance, in June 2018, Boart Longyear launched TruShotdownhole survey technology. This new technology aims to provide various mining clients with high quality and beneficial geological data. It also helps the drillers to capture three dimensional and high-quality hole path data, which in turn enables the mining clients to target various mineral resources.
Based on type, the mining drills & breakers market is divided into drills and breakers. The drills segment is expected to hold the largest share due to an increase in demand from new mining activities to fulfill the need for metals in the automotive industries. Also, this is due to a rise in demand for mineral fertilizers in the agriculture activities and rises in the pace of mining activities for various minerals including potash. However, the breakers segment is estimated to register the highest CAGR during the forecast period, owing to the rise in the focus of manufacturers on advancing new technologies along with rising in the adoption of hydraulic breakers for carrying out mining activities.
Based on the application, the mining drills & breakers market is classified into metal mining, mineral mining, and coal mining. The metal mining segment is expected to account for the largest share due to the expansion of metal mining industries in developing countries.
Asia-Pacific accounted for the highest share and is anticipated to secure the leading position during the forecast period. This is attributed to growth in metal and coal mining industry in the developing countries such as India, Australia, and China. China is a pioneer in the mining drills and breakers market. Also, the availability of cost-efficient products, economic development, presence of key manufacturers, and growing automation of mining and construction processes is augmenting the demand for mining drills & breakers market in the region.
Key Factors Impacting Growth of Mining Drills & Breakers Market:
- Increase in the demand for metals and minerals from various industries.
- Expansion of underground and surface mining operations over the globe.
- Technological innovations such as sonic, infrared, IoT, and optical micro cameras.
- Government regulations related to mining operations.
Key Developments in Mining Drills & Breakers:
- In July 2018, Komatsu Ltd (Japan) established a partnership with UMW Corporation Sdn. Bhd. (Malaysia) to start a joint-venture sales company. This new company will be a subsidiary of UMW and Komatsu will have a 26% equity stake. The collaboration aims to strengthen marketing and product support operations, and further expand the mining equipment business.
- In July 2018, Sandvik (Sweden) has acquired a private company In rock (US), one of the leading suppliers of drilling tools for the mining industry. Hence, the acquisition of this company has benefited Sandvik to help its mining business grow.
What Does This Report Provide?
This report provides a detailed understanding of the global mining drills & breakers market from qualitative and quantitative perspectives during the forecast period. The report also provides dynamic indicators with a potential impact on the mining drills & breakers market during the forecast period and an in-depth analysis of the leading companies operating in the mining drills & breakers market.
- Metal Mining
- Mineral Mining
- Coal Mining
- North America
- By Country (US, Canada, Mexico)
- By Country (Germany, UK, France, Spain, Rest of Western Europe)
- By Country (Russia, Turkey, Rest of Eastern Europe)
- By Country (China, Japan, India, Rest of Asia Pacific)
- By Country (UAE, Qatar, Iran, Saudi Arabia, Rest of Middle East)
- By Region (South America, Africa)
Companies Covered: Major Companies profiled in the report which are key players in the global mining drills & breakers market. Boart Longyear, Caterpillar Inc, Doosan Corporation, Energold Drilling Corp, Epiroc AB, Furukawa Co. Ltd, Geodrill Limited, Komatsu Ltd, Metso Corporation, and Sandvik AB.
Years Considered In The Study
Reasons to Buy This Report:
- Market size estimation of the global mining drills & breakers market on a regional and global basis.
- The unique research design for mining drills & breakers market size estimation and forecast.
- Profiling of major companies operating in the mining drills & breakers market with key developments.
- Broad scope to cover all the possible segments helping every stakeholder in the mining drills & breakers market.
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