What’s driving the Borehole Equipment Market Trends? Boart Longyear, Major Drilling, Foraco, Energold, Orbit Garant, Bohrmeister

New report of Global Borehole Equipment Market Report communicates about the manufacturing process. The process is analyzed thoroughly with respect three points, viz. raw material and equipment suppliers, various manufacturing associated costs and the actual process. The Borehole Equipment industry research report is a resource, which provides technical and financial details of the Global Borehole Equipment Market (Volume and Value).

Increasing adoption of modern technologies and solutions as well as emphas on high production volume fostering borehole equipment market growth. Global mining industry is volatile in nature and drilling companies face various challenges such as shortage of skilled labor or technological expertise. Thus, exploration companies are focusing on techniques to reduce the cost and time associated with mining activities to meet government revenue expectation.

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North America Borehole Equipment Market will register growth over 5% up to 2024. Improved economic condition and rising investment in mining sector will significantly fuel product demand. As of 2015, the industrial minerals, coal and metals mined in U.S. was valued at USD 109.6 billion. Institutional investors are likely to raise their exposure to metals and mining exploration partially through co-investments with private equity, offering lower risk and greater transparency.

Portable borehole equipment market is expected witness growth over 6.5% up to 2024. Factors such as ease of exploration and convenient transportation at most remote areas are driving product demand. Increasing oil & gas exploration activities at untapped places is anticipated to provide lucrative opportunities for this segment growth.

Rapid urbanization coupled with increased in construction spending will drive borehole equipment market growth. Increasing concern for regular water supplies, energy consumption and environmental aspects will propel product penetration. As per industry experts, global infrastructure spending is anticipated to surpass USD 9 trillion by 2024.

Borehole Equipment Market, By Application:
1. Mining
2. Infrastructure

Borehole Equipment Market, By Operation
1. Hydraulic
2. Pneumatic
3. Others (Electric, Mechanical)

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Hydraulic operations estimated to hold over 60% of the global borehole equipment market share in 2016. Rapid construction of roads, underground railways and sewerage contributed in growing demand for hydraulic equipment's, thereby fostering the segment growth. In addition, shift in focus toward efficient and economic operations in deep and hard geological formations will further support market growth.

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:

1. Bohrmeister (Pty) Ltd.
2. Getech International
3. Dando Drilling International
4. Major Drilling
5. Boart Longyear
6. Energold
7. Foraco
8. Orbit Garant

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

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