Overview and Scope
Diamond core drilling is a method of extracting cylindrical rock samples from the earth’s subsurface using a diamond-tipped drill bit. The process involves rotating the bit to cut through the rock, while the diamond edges facilitate efficient penetration. This technique is widely used in geology, and exploration to obtain accurate and intact core samples for geological analysis.
Sizing and Forecast
The diamond core drilling market size has grown strongly in recent years. It will grow from $2.11 billion in 2023 to $2.27 billion in 2024 at a compound annual growth rate (CAGR) of 7.5%. The growth in the historic period can be attributed to mineral exploration boom, construction and infrastructure development, mining industry expansion, environmental regulations, geological surveys and research.
The diamond core drilling market size is expected to see strong growth in the next few years. It will grow to $2.87 billion in 2028 at a compound annual growth rate (CAGR) of 6%. The growth in the forecast period can be attributed to renewable energy exploration, increased demand for rare earth elements, urbanization and infrastructure development, focus on deep sea mining, global water management. Major trends in the forecast period include technological advancements, environmental regulations and sustainability, automation and robotics.
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Segmentation & Regional Insights
The diamond core drilling market covered in this report is segmented –
1) By Operational Type: Hand Type Drill, Rig-operated
2) By Drilling Type: Rotary Drilling, Wireline Drilling
3) By Drilling Technique: Stitch Drilling, Underwater Diamond Drilling, Surface Drilling, Underground Drilling
4) By End-Use: Construction, Mining
Asia-Pacific was the largest region in the diamond core drilling market in 2023. The regions covered in the diamond core drilling market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The expanding mining activities are expected to propel the growth of the diamond core drilling market going forward. Mining activities refer to the extraction and processing of valuable minerals or other geological materials from the earth for various industrial purposes such as energy production, manufacturing and others. Mining activities are expanding to meet the rising global demand for metal and minerals which is driven by economic growth, urbanization, and the need for resources. Diamond core drilling provides precise and accurate drilling operations with clean and well-defined core samples, making them useful for applications demanding high levels of accuracy such as mineral exploration and mining, geotechnical and environmental site investigation and others. For instance, in May 2023, according to the Australian Bureau of Statistics, an Australia-based government agency, in the fiscal year 2021–22, the mining industry witnessed growth across essential metrics, with EBITDA rising by 32.7% ($54.3 billion) after a 4.9% ($7.7 billion) increase in 2020–21. Additionally, mining industry value-added (IVA) showed substantial growth, increasing by 29.5% ($64.6 billion) following a 4.4% ($9.2 billion) upturn in 2020–21. Therefore, the expanding mining activities are driving the growth of the diamond core drilling market going forward.
Key Industry Players
Major companies operating in the diamond core drilling market are Robert Bosch GmbH, Atlas Copco AB, Sandvik AB, Hilti Corporation, Husqvarna AB, Epiroc AB, Granite Construction Inc., Tyrolit Group, Boart Longyear Ltd., Milwaukee Electric Tool Corporation, Shibuya Company Ltd., Master Drilling Group Ltd., Mincon Group PLC, Ramset, Di-Corp, B+Btec GmbH, Rockdril, Albert Roller GmbH, DUSS Maschinenfabrik GmbH & Co. KG, Eibenstock Positron Elektrowerk Pvt, Geomachine Oy, LISSMAC Maschinenbau GmbH, WEKA Elektrowerkzeuge KG, MASSENZA Drilling Rigs Srl, Controls S.p.A, KERN-DEUDIAM Diamantwerkzeuge und Maschinen GmbH, APC Drilling & Constructions Private Limited, Golz GmbH
The diamond core drilling market report table of contents includes:
1. Executive Summary
2. Diamond Core Drilling Market Characteristics
3. Diamond Core Drilling Market Trends And Strategies
4. Diamond Core Drilling Market – Macro Economic Scenario
5. Global Diamond Core Drilling Market Size and Growth
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32. Global Diamond Core Drilling Market Competitive Benchmarking
33. Global Diamond Core Drilling Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Diamond Core Drilling Market
35. Diamond Core Drilling Market Future Outlook and Potential Analysis
36. Appendix
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