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Global Excavator Drill Market Expected to Have a Great Growth Rate in the Coming Years 2018-2026 // Multi-Power Products Ltd, PRM Australia, Selix Equipment Inc, TEI Rock Drills, WORD International, Inc
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Excavator drill is a specialized drill equipment mounted on an excavator used to drill holes for a wide range of applications like coring, geotechnical investigation, push tubes, micropiling and earthing. Excavator drill provide flexibility and ease of access where use of conventional drilling equipment is not feasible due to confined space or limited headroom. Excavator drill is used across various industries like oil & gas, construction, quarry, mining, railway and agriculture.
With inflation on rise and procuring raw materials getting costly, the cost of building excavator drill equipment may pose a challenge for the market. However, given excavator drill’s various advantages and market opportunities across industries, the drivers will trump the challenges faced, leading to significant growth of the market.
Excavator Drill Market: Regional Overview
In Venezuela, Chile and other Latin American countries, mining activities are the main source of economic development for their respective countries. This presents a key market potential for excavator drill. In developing economies like China and India, industrialization and urbanization is on rise, which in turn increases the demand for excavator drill given its application for foundation drills, micropiling and earthing. Given the increase in oil and gas exploration (especially in Coal Bed Methane), mining and rock drilling industry across many Asia-Pacific countries like Australia, Indonesia and Malaysia, where there is a need for drill equipment with compact size and versatility to operate in confined spaces, excavator drill market is expected to have great market growth in the region. North America is witnessing increased infrastructure projects due to increased demand and need for innovative infrastructure.
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Western Europe is expected to register moderate growth in the excavator drill market given its already developed infrastructure. Middle East region is experiencing huge growth in construction sector to meet the demand for modern, innovative infrastructure to cater to its commercial and tourism sectors. Hence, excavator drill market will have a huge growth rate in the region. Africa region is not experiencing industrialization on the same scale as other regions, but urbanization and mining is expected to grow in the region, which means the excavator drill market is expected to register low to moderate growth in the forecast period.
Excavator Drill Market: Key Players
Examples of some of the market participants in the global Excavator Drill market identified across the value chain include: AUGER TORQUE EUROPE LIMITED, Drilltechniques, Foothills Drilling Equipment Inc. Hammer & Steel, Inc. MOVAX Oy, Multi-Power Products Ltd, PRM Australia, Selix Equipment Inc, TEI Rock Drills, WORD International, Inc.
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