Overview and Scope
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.
Sizing and Forecast
The mining drilling services market size has grown strongly in recent years. It will grow from $2.84 billion in 2023 to $3.04 billion in 2024 at a compound annual growth rate (CAGR) of 7.2%. 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 $4.04 billion in 2028 at a compound annual growth rate (CAGR) of 7.3%. 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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Segmentation & Regional Insights
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
Asia-Pacific was the largest region in the mining drilling services market in 2023. The regions covered in the mining drilling services 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 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 February 2022, according to the United States Geological Survey, a US-based Government Agency, US mines produced nearly $90.4 billion in mineral commodities in 2021, a $9.7 billion increase over the 2020 revised total of $80.7 billion. Therefore, the rise in the production of mining is driving the growth of the mining drilling services market.
Key Industry Players
Major companies operating in the mining drilling services market report are Schlumberger Limited, Quanta Services, Sandvik Mining and Construction, Perenti Group, BoartLongyear, Layne Christensen Company, 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, Aban Offshore, Geotech Drilling Services Ltd., Gregg Drilling LLC, PAMA SPA, REI Drilling Inc., Viking Drilling LLC, PT United Tractors Tbk, Drillmech Engineering & Hydraulic Services, Boomerang Forestry, Dando Drilling International, Central African Drilling, Drillex International, Xploration Services Limited, Midwest Mineral Exploration Services
The mining drilling services market report table of contents includes:
1. Executive Summary
2. Mining Drilling Services Market Characteristics
3. Mining Drilling Services Market Trends And Strategies
4. Mining Drilling Services Market – Macro Economic Scenario
5. Global Mining Drilling Services Market Size and Growth
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32. Global Mining Drilling Services Market Competitive Benchmarking
33. Global Mining Drilling Services Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Mining Drilling Services Market
35. Mining Drilling Services Market Future Outlook and Potential Analysis
36. Appendix
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