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Mining Drilling Services Global Market Report 2024 - By Demand, Size, Share, Growth, Forecast To 2033
Mining Drilling Services Market
Mining Drilling Services Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.
The Market Size Is Expected To Reach $4.04 billion In 2028 At A CAGR Of 7.3% :
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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Mining Drilling Services Market Major Segments
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
Key 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.
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Prominent Trend - Mining Drilling Services Market Embraces Technological Advancement
Technological advancement is a key trend gaining popularity in the mining drilling services market. Major companies operating in the mining drilling services market are focused on developing new technological solutions to strengthen their position in the market. For instance, in July 2021, Perenti, an Australia-based company operating in mining drilling services, launched idoba, a new technology-driven service offering for the mining industry, that leverages in-house technology and data expertise to add value to the global mining services activities. The idoba technology is the culmination of Perenti's strategic technological growth which, in addition to supporting the Perenti business, would provide digital product and technology services to clients with revenue and earnings that are generated from these services.
Mining Drilling Services Market Players
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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Largest And Fastest Growing Region In The Market
Asia-Pacific was the largest region in the mining drilling services market in 2023. The regions covered in the mining drilling services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Mining Drilling Services Market Report Structure
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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The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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