Borehole Equipment Market 2019 – 2024 | Trends and Growth Report by Regional Manufacturers: Dando Drilling International, Getech International, Boart Longyear, Major Drilling, Foraco

A collective analysis on Borehole Equipment Market by Global Market Insights offers an exhaustive study based on current trends influencing this vertical throughout assorted geographies. Key information regarding market size, market share, statistics, application, and revenue are compiled in the research to develop an ensemble prediction. In addition, this research offers a detailed competitive analysis focusing on business outlook emphasizing expansion strategies accepted by market majors.

North America accounted for more than 30% of the industry share in 2016. Upcoming large-scale mining projects coupled with increase in construction of high-rise buildings in New York will positively influence the North America borehole equipment market growth.

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Increasing mineral extraction in the U.S., Venezuela, Indonesia, Nigeria, China, and Canada are among the major factor contributing product penetration. Rising onsite processing necessities coupled with huge untapped hydrocarbon reserves in Mexico are projected to propel borehole equipment market growth.

Increased metal consumption including steel, aluminum, copper, nickel, lead, zinc and tin in several industries will propel the industry growth in APAC region. Strong demand for metal, particularly steel in numerous end-use industries including construction, energy, transport, packaging and appliances in emerging economies will stimulate business growth. Growing domestic demand for coal signifies a positive outlook for borehole equipment demand in China and India.

Borehole Equipment Market, by Product
• Portable borehole equipment
• Fixed borehole equipment

Borehole Equipment Market, by Application
• Mining
• Infrastructure

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Global borehole equipment market share is highly fragmented owing to strong presence of regional as well as multinational service providers. Some of the key industry players include:
• Bohrmeister (Pty) Ltd.
• Getech International
• Dando Drilling International
• Major Drilling
• Boart Longyear
• Energold
• Foraco
• Orbit Garant

Companies are anticipated to increase R&D investments and technological innovations to gain competitive advantage.

Mining will hold more than 60% of the industry share by 2024. Depletion of natural resources including minerals, coal and oil has encouraged the exploration, thus driving borehole equipment market demand. Extensive excavation for geologically deposited substances, diamond, uranium and stones will propel the product demand in this segment.

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