Mining Drill Bit Market Statistics 2020: Showcases Promising Growth by 2026
LAMEA to register fastest CAGR, followed by North America
The market across LAMEA is estimated the fastest CAGR of 6.6% during the forecast period, owing to increasing demand for mining drill bits as Peru and Brazil have huge reserve of minerals. Moreover, North America is expected to register a CAGR of 4.2% during the forecast period.
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Underground drilling to portray fastest CAGR by 2026
The underground drilling is estimated to register the fastest CAGR of 5.7% through 2026, owing to increase in number of metal mining projected in Africa. However, the surface drilling segment accounted the highest share in 2018, contributing more than three-fifths of the global mining drill bit market
Key Findings of the Mining Drill Bits Market :
o Based on type, the rotary drill bits segment dominated the market, in terms of revenue in 2018 and is projected to grow at a CAGR 6.4% during the forecast period.
o Based on material, the diamond segment dominated the mining drill bits market in 2018.
o Asia-Pacific is projected to register the highest growth rate in the coming years.
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Major market players
o Brunner and Lay
o Changsha Heijingang Industrial Co., Ltd
o Caterpillar Inc.
o Mitsubishi Materials Corporation
o Epiroc AB
o Rockmore International, Sandvik
o Robit Plc
o Xiamen Prodrill Equipment Co., Ltd.
o Western Drilling Tools Inc
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