Press release
Mining Drilling Services Global Market Report 2024 - By Growth, Report, Size, Share, Forecast To 2033
Mining Drilling Services
The Business Research Company offers in-depth market insights through Mining Drilling Services Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The mining drilling services market size has grown strongly in recent years. It will grow from $2.84 billion in 2023 to $3.04 billion in 2024 at a compound annual growth rate (CAGR) of 7.2%. The growth in the historic period can be attributed to resource demand surge, boom in exploration activities, commodity price fluctuations, mining industry cycles, discovery of new deposits.
The mining drilling services market size is expected to see strong growth in the next few years. It will grow to $4.04 billion in 2028 at a compound annual growth rate (CAGR) of 7.3%. The growth in the forecast period can be attributed to mining infrastructure development, market competition dynamics, global geopolitical stability, energy transition initiatives, economic trends. Major trends in the forecast period include advanced drilling technologies, automation and robotics, data-driven decision making, remote operations and monitoring.
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Market Segmentation:
The mining drilling services market covered in this report is segmented -
1) By Type: Surface Mining, Underground Mining
2) By Application: Metal, Coal, Mineral, Quarry
3) By End-User: Construction, Manufacturing, Technology Industries
Major Driver - Mining Production Boosts Growth In Mining Drilling Services Market
The rise in the production of mining is expected to propel the growth of the mining drilling services market going forward. Mining refers to the method of extracting useful materials from the earth. Mining production is growing due to industries' dependency on the supply of mineral commodities from underground. Thus, these requirements have increased the demand for mining drilling services. For instance, in February 2022, according to the United States Geological Survey, a US-based Government Agency, US mines produced nearly $90.4 billion in mineral commodities in 2021, a $9.7 billion increase over the 2020 revised total of $80.7 billion. Therefore, the rise in the production of mining is driving the growth of the mining drilling services market.
Competitive Landscape:
Major companies operating in the mining drilling services market report are Schlumberger Limited, Quanta Services, Sandvik Mining and Construction, Perenti Group, BoartLongyear, Layne Christensen Company, Major Drilling Group International Inc, Byrnecut Mining Pty. Ltd, Action Drill & Blast, Barminco, Foraco International S.A, Capital Drilling, Orbit Garant Drilling Inc., Geodrill, Master Drilling Group Limited, Ausdrill, Aban Offshore, Geotech Drilling Services Ltd., Gregg Drilling LLC, PAMA SPA, REI Drilling Inc., Viking Drilling LLC, PT United Tractors Tbk, Drillmech Engineering & Hydraulic Services, Boomerang Forestry, Dando Drilling International, Central African Drilling, Drillex International, Xploration Services Limited, Midwest Mineral Exploration Services
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Top Trend - Strategic Partnerships In Mining Drilling Services For Enhanced Drill Hole Data Analysis
Major companies operating in the mining drilling services market are adopting a strategic partnership approach to enhance drill hole data analysis in the mining industry. A strategic partnership is a collaborative agreement or alliance between two or more entities, such as companies, organizations, or governments, with the aim of achieving mutually beneficial objectives. For instance, in December 2023, International Directional Services (IDS) LLC, a US-based drilling services company, partnered with Veracio, a US mining technology company. With this partnership, these companies aim to improve the accuracy and quality of drill hole data analysis, increase productivity, and advance drilling and downhole technologies. By combining expertise in directional drilling and geological data collection, the collaboration seeks to empower clients to reduce drilling costs, mitigate operational errors, minimize waste, and foster sustainable mining practices.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Mining Drilling Services Market Characteristics
3. Mining Drilling Services Market Trends And Strategies
4. Mining Drilling Services Market - Macro Economic Scenario
5. Mining Drilling Services Market Size And Growth
…..
27. Mining Drilling Services Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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About The Business Research Company
The Business Research Company (www.thebusinessresearchcompany.com) is a market intelligence firm that pioneers in company, market, and consumer research. Located globally, TBRC's consultants specialize in various industries including manufacturing, healthcare, financial services, chemicals, and technology. The firm has offices located in the UK, the US, and India, along with a network of proficient researchers in 28 countries.
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