What is the current market size and future outlook for the mining drilling services market?
The mining drilling services market size has grown strongly in recent years. It will grow from $3.01 billion in 2024 to $3.23 billion in 2025 at a compound annual growth rate (CAGR) of 7.1%. The growth in the historic period can be attributed to resource demand surge, boom in exploration activities, commodity price fluctuations, mining industry cycles, discovery of new deposits.
The mining drilling services market size is expected to see strong growth in the next few years. It will grow to $4.3 billion in 2029 at a compound annual growth rate (CAGR) of 7.5%. The growth in the forecast period can be attributed to mining infrastructure development, market competition dynamics, global geopolitical stability, energy transition initiatives, economic trends. Major trends in the forecast period include advanced drilling technologies, automation and robotics, data-driven decision making, remote operations and monitoring.
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What are the key drivers behind the rapid expansion of the mining drilling services market?
The rise in the production of mining is expected to propel the growth of the mining drilling services market going forward. Mining refers to the method of extracting useful materials from the earth. Mining production is growing due to industries’ dependency on the supply of mineral commodities from underground. Thus, these requirements have increased the demand for mining drilling services. For instance, in June 2024, according to the Australian Bureau of Statistics, an Australia-based government agency reported that Australia’s mining sector achieved a record-breaking $455 billion in export earnings for the 2022-23 financial year. This underscores the country’s exceptional ability in mineral extraction and processing, positioning the industry as a crucial global supplier to meet the surging demand for resources. Therefore, the rise in mining production is driving the growth of the mining drilling services market.
What is the segmentation for the mining drilling services market?
The mining drilling services market covered in this report is segmented –
1) By Type: Surface Mining, Underground Mining
2) By Application: Metal, Coal, Mineral, Quarry
3) By End-User: Construction, Manufacturing, Technology Industries
Subsegments:
1) By Surface Mining: Open-Pit Drilling, Blast Hole Drilling, Geological Exploration Drilling, Auger Drilling
2) By Underground Mining: Diamond Core Drilling, Reverse Circulation Drilling, Raise Boring, Longhole Drilling
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Who are the most influential companies in the mining drilling services market?
Major companies operating in the mining drilling services market include Schlumberger Limited, Sandvik Mining and Construction, Perenti Group, BoartLongyear, Major Drilling Group International Inc, Byrnecut Mining Pty. Ltd, Action Drill & Blast, Barminco, Foraco International S.A, Capital Drilling, Orbit Garant Drilling Inc., Geodrill, Master Drilling Group Limited, Ausdrill, Geotech Drilling Services Ltd., Gregg Drilling LLC, REI Drilling Inc., Viking Drilling LLC, Drillmech Engineering & Hydraulic Services, Dando Drilling International, Central African Drilling, Drillex International, Xploration Services Limited, Midwest Mineral Exploration Services
What are the most influential trends expected to drive the mining drilling services market forward?
Technological advancement is a key trend gaining popularity in the mining drilling services market. Major companies operating in the mining drilling services market are focused on developing new technological solutions to strengthen their position in the market. For instance, in September 2024, New Concept Mining, a South Africa-based company provider of ground support solutions for the mining industry, launched Hydraulic Rock Drill (HRD) manufacturing plant in Johannesburg. This new facility is dedicated to producing state-of-the-art hydraulic rock drills, which are essential for hard-rock mining operations. The launch of this plant strengthens New Concept Mining’s position as a key player in providing advanced mining equipment and highlights its ongoing commitment to innovation and the development of high-quality, locally manufactured products for the global mining market.
What are the major regional insights for the mining drilling services market, and which region holds the top position?
The countries covered in the mining drilling services market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
What Does The Mining Drilling Services Market Report 2025 Offer?
The mining drilling services market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
The mining drilling services is a process of extracting stones, minerals, and resources from different levels beneath the surface. It is a process that required very heavy equipment to complete mining drilling work processes. These services are used in providing geologists with different samples of soil for analysis and facilitating the extraction of precious minerals.
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