NEW YORK, United States, May 24, 2023 (GLOBE NEWSWIRE) -- Zion Market Research has published a new research report titled “Mining Drilling Services Market By Application (Minerals, Coal, Metal, And Quarry), By Type (Underground Mining And Surface Mining), And By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030” in its research database.
“According to the latest research study, the demand of global Mining Drilling Services Market size & share in terms of revenue was valued at USD 2.41 billion in 2022 and it is expected to surpass around USD 4.41 billion mark by 2030, growing at a compound annual growth rate (CAGR) of approximately 6.71% during the forecast period 2023 to 2030.”
The report analyzes the global mining drilling services market drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the mining drilling services market.
What are Mining Drilling Services? How big is the Mining Drilling Services Industry?
Report Overview:
A segment of the wider ministry sector that deals with services connected to drilling operations with the goal of removing ores and minerals from the soil is the mining drilling services industry. Production drilling, exploratory drilling, environmental drilling, directional drilling, and geotechnical drilling are some of the services it covers. These operations are crucial for the mining industry's smooth operation since they help identify mineral resources and facilitate the extraction of those resources. With a wide variety of enterprises operating at various intersections of the mining process, the industry is extremely competitive. Each company sub-segment has a unique set of responsibilities and services it must provide in order to meet the changing needs of the mining sector. During the forecast period, a number of elements are anticipated to fuel industry expansion, but it may also encounter some severe obstacles and limitations.
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Our Free Sample Report Consists of the Following:
- Introduction, Overview, and in-depth industry analysis are all included in the 2023 updated report.
- Provide detailed chapter-by-chapter guidance on Request
- Updated Regional Analysis with Graphical Representation of Size, Share, and Trends for the Year 2023
- Includes Tables and figures have been updated
- The most recent version of the report includes the Top Market Players, their Business Strategies, Sales Volume, and Revenue Analysis
- Zion Market Research Methodology
Global Mining Drilling Services Market: Growth Factors
- Growing demand for minerals will be one of the main factors of growth
The enormous need for minerals that are retrieved from the earth's core is anticipated to be one of the primary drivers of the market for mining drilling services worldwide. Minerals like iron and copper are the foundation of the contemporary world, including the residential and commercial sectors. The mining sector is experiencing surges in demand due to rampant industrialization and increased end-user demand, which in turn increases the need for related services.
Restraints
- Increasing environmental concerns could limit market expansion
Mining operations are thought to pose a long-term threat to the earth's ability to survive. This is particularly relevant to irresponsible mining practices or profit-driven firms who solely focus on the bottom line without taking into account the permanent harm these practices cause to the ecosystem. Drilling operations for mining can seriously harm the environment by causing soil erosion, water pollution, and air pollution. Because of this, the mining drilling services industry is subject to tight regulation on a global scale, and world leaders are attempting to mitigate the negative effects that company operations have on the environment.
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Report Scope:
| Report Attribute | Report Details |
| Market Size in 2022 | USD 2.41 Billion |
| Market Forecast in 2030 | USD 4.41 Billion |
| Growth Rate | CAGR of 6.71% |
| Base Year | 2022 |
| Forecast Years | 2023- 2030 |
| Key Companies Covered | Helmerich & Payne, Boart Longyear, NRW Holdings, Schlumberger, Epiroc, Caterpillar, Ausdrill, Sandvik, HMR Drilling Services, Foraco, Atlas Copco, Orica Mining Services, Major Drilling, Layne Christensen Company, DDH1 Drilling, Orbit Garant Drilling, JS Redpath Corporation, Dando Drilling International, Boodee Drilling, and others. |
| Segments Covered | By Application, By Type, and By Region |
| Regions Covered | North America, Europe, Asia Pacific, Latin America, and the Middle East &, Africa |
| Customization Scope | Avail customized purchase options to meet your exact research needs. Request For Customization |
Mining Drilling Services Market: Segmentation Analysis
The global mining drilling services market is segmented based on application, type, and region.
Based on application, the global market segments are minerals, coal, metal, and quarry. The industry's minerals section experienced the biggest growth in 2022, and it is anticipated that it will keep dominating, followed by metal and coal. Since minerals are collected from the earth's core, services employed in this segment require the usage of specialized procedures and equipment. The majority of drilling procedures involve digging wells or boreholes in the earth from which minerals can be collected. The sort of drilling method utilized depends on the mineral being sought after as well as the regional geography. Saudi Arabia produced more than 5.8 metric tons of gold in 2020.
Based on type, the global market segments are underground mining and surface mining. In 2022, the industry's surface mining segment experienced the highest CAGR. According to the US Geological Survey, 26% of mining operations are carried out underground, compared to 74% that are surface-based globally. In order to access the minerals hidden underground, surface mining involves clearing away plants and soil from the surrounding area. This kind of mining is done to remove coal, iron ore, copper, and gold reserves.
The global Mining Drilling Services market is segmented as follows:
By Application
- Minerals
- Coal
- Metal
- Quarry
By Type
- Underground Mining
- Surface Mining
Competitive Landscape:
Some of the main competitors dominating the global mining drilling services market include -
- Helmerich & Payne
- Boart Longyear
- NRW Holdings
- Schlumberger
- Epiroc
- Caterpillar
- Ausdrill
- Sandvik
- HMR Drilling Services
- Foraco
- Atlas Copco
- Orica Mining Services
- Major Drilling
- Layne Christensen Company
- DDH1 Drilling
- Orbit Garant Drilling
- JS Redpath Corporation
- Dando Drilling International
- Boodee Drilling
Key Insights from Primary Research:
- According to the analysis shared by our research analyst, the Mining Drilling Services market is likely to expand at a CAGR of around 6.71% during the forecast period (2023-2030).
- In terms of revenue, the Mining Drilling Services market size was valued at around US$ 2.41 billion in 2022 and is projected to reach US$ 4.41 billion by 2030.
- The market is projected to grow at a significant rate due to the growing demand for minerals
- Based on application segmentation, minerals were predicted to show maximum market share in the year 2022
- Based on type segmentation, surface mining was the leading type in 2022
- On the basis of region, North America was the leading revenue generator in 2022.
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Key questions answered in this report:
- What is the market size and growth rate forecast for Mining Drilling Services industry?
- What are the main driving factors propelling the Mining Drilling Services Market forward?
- What are the leading companies in the Mining Drilling Services Industry?
- What segments does the Mining Drilling Services Market cover?
- How can I receive a free copy of the Mining Drilling Services Market sample report and company profiles?
Key Offerings:
- Market Size & Forecast by Revenue | 2023−2030
- Market Dynamics – Leading Trends, Growth Drivers, Restraints, and Investment Opportunities
- Market Segmentation – A detailed analysis By Application, By Type, and By Region
- Competitive Landscape – Top Key Vendors and Other Prominent Vendors
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Regional Analysis:
Asia-Pacific to dominate the market growth
The global mining drilling services market is anticipated to witness the highest growth in Asia-Pacific mainly owing to the exhaustive mining activities conducted in several parts of the region. Australia is home to one of the largest service providers in the industry. NRW Holdings has a world reputation for being honoured with several multi-billion dollar assignments across blasting and drilling segments. In addition to this, the mining exports of the country currently account for 75% of the global market share and are an essential segment of Australia’s economic growth.
North America is also registering a significant CAGR in the last few years due to immense exploration activities conducted by the US and Canadian governments for natural gas and different types of minerals. Increasing investment in the segment is a crucial growth propeller.
By Region
- North America
- U.S.
- Canada
- Rest of North America
- Europe
- France
- UK
- Spain
- Germany
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Rest of Asia Pacific
- The Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Brazil
- Argentina
- Rest of Latin America
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Recent Developments:
- In February 2023, NRW Holdings, a construction and mining contractor giant based out of Australia, announced bagging an AUD 300 million contract for drilling and blast services
- In March 2023, NRW Holdings announced that 2 of its subsidiaries were awarded an AUD 30 million contract from DIAB Engineering. The funds will be used over the course of the next three years and will be directed toward maintaining crushing and supporting infrastructure of the new Iron Bridge magnetite mine
- In November 2022, Action Drill & Blast Pty Ltd (Action), a wholly owned subsidiary of NRW Holdings Limited was awarded by Talison Lithium Australia Pty Ltd (Talison Lithium) for its services in the Drill and Blast activities in Greenbushes Mine
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