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Rotary Blasthole Drilling Rig Market to Reach $3.49 Billion by 2025 with 3.7% CAGR

06-10-2019 05:04 PM CET | Industry, Real Estate & Construction

Press release from: Allied Market Research

Rotary Blasthole Drilling Rig Market to Reach $3.49 Billion

Rotary Blasthole Drilling Rig Market: Global Opportunity Analysis and Industry Forecast, 2018 – 2025”. According to the report, the global rotary blasthole drilling rig market accounted for $2.60 billion 2017 and is expected to reach $3.49 billion by 2025, registering a CAGR of 3.7% during the period 2018–2025.

The market is segmented on the basis of type, application, and geography. Based on type, the market is divided into mid-range drilling rig, large-range drilling rig, and other. The large-range drilling rig segment held the largest share in 2017, contributing more than two-thirds of the market share. However, the mid-range drilling rig segment is expected to register the fastest CAGR of 4.1% during the forecast period.

Rise in demand for metal and minerals, surge in construction activities, and expansion of existing mines have boosted the growth of the global rotary blasthole drilling rig market. However, expensive pricing hinders market growth. On the contrary, rapid technological advancements through AI and IoT are expected to create lucrative opportunities in the near future.

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On the basis of application, the market is segmented into quarries, open-pit mining, and others. The quarries segment is projected to manifest the fastest CAGR of 3.9% during the forecast period. However, the open-pit mining segment accounted for about two-fifths of the total market in 2017.

Based on geography, the market is divided into North America, LAMEA, Asia-Pacific, and Europe. Moreover, the Asia-Pacific region dominated the market in terms of revenue in 2017, contributing nearly one-third of the total market share. However, LAMEA is projected to portray the fastest CAGR of 4.7% during the forecast period.

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The major market players are analyzed in the report, including BAUER, Epicor, Komatsu Ltd., Sandvick, Schramm, Sunward, Caterpiller- CAT, FURUKAWA, Nanchang Kama Co., Ltd., and Sinosteel HYMC.

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Allied Market Research, a market research and advisory company of Allied Analytics LLP, provides business insights and market research reports to large as well as small- & medium-scale enterprises. The company assists its clients to strategize business policies and achieve sustainable growth in their respective market domain.

Allied Market Research provides one-stop solution right from data collection to investment advice. The analysts at Allied Market Research dig out factors that help clients understand the significance and impact of market dynamics. The company applies client’s insight on the factors such as strategies, future estimations, growth or fall forecasting, opportunity analysis, and consumer surveys among others. As follows, the company offers consistent business intelligence support to help clients transform into a prominent business firm.

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