Press release
Key Factor Supporting Diamond Core Drilling Market Development in 2025: Expanding Mining Activities Fuel Growth In The Diamond Core Drilling Market
Diamond Core Drilling
How Large Will the Diamond Core Drilling Market Size By 2025?
There has been a significant expansion in the diamond core drilling market size in the past few years. The market, valued at $2.27 billion in 2024, is projected to increase to $2.44 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 7.4%. Factors such as a surge in mineral exploration, advancements in construction and infrastructure, expansion of the mining industry, environmental legislation, and increased geological surveys and research can explain the growth experienced during the historic period.
How Big Is the Diamond Core Drilling Market Size Expected to Grow by 2029?
Expectations are high for a robust growth in the diamond core drilling market size in the upcoming years. It is projected to reach a valuation of $3.02 billion by 2029, with a compound annual growth rate (CAGR) of 5.5%. The predicted growth in this forecast period is credited to factors such as renewable energy exploration, soaring demand for rare earth elements, urbanization and infrastructure progress, emphasis on deep sea mining, and worldwide water management. The principal trends in this period are anticipated to include technological progression, environmental norms and sustainability, along with automation and robotics.
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Which Key Market Drivers Powering Diamond Core Drilling Market Expansion and Growth?
The diamond core drilling market is projected to grow in response to the advancement of mining operations. Mining refers to the extraction and refinement of precious minerals or other geological elements from the earth, utilized for a range of industrial applications, including energy production, manufacturing, etc. The proliferation of mining activities is driven by the escalating global demand for metals and minerals, a result of economic development, urbanization, and resource necessity. Diamond core drilling offers exact and accurate drilling procedures with clear and well-outlined core samples, proving advantageous for applications requiring high precision, such as mineral exploration, mining, geotechnical and environmental site investigation, among others. For instance, the Australian Bureau of Statistics, a governmental entity based in Australia, reported in May 2023 that in the financial year 2021-22, the mining sector experienced growth in key metrics, with EBITDA surging by 32.7% ($54.3 billion) following a 4.9% ($7.7 billion) increase in 2020-21. Additionally, the value addition in the mining sector (IVA) exhibited significant growth, rising by 29.5% ($64.6 billion) after a 4.4% ($9.2 billion) increase in 2020-21. Hence, the escalating mining operations are fuelling the growth of the diamond core drilling market in the future.
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Which Fast-Growing Trends Are Poised to Disrupt the Diamond Core Drilling Market?
Significant businesses in the diamond core drilling market are concentrating on enhancing drilling products, such as the high-efficiency core drilling system, designed to deliver a robust, effective, and easy-to-use coring solution for large-scale drilling processes. This specialized tool accurately takes cylindrical samples from materials with maximal precision and minimal energy expenditure. For instance, AGP Power Tools, a Taiwan-based power tool manufacturing company, debuted the AGP DM20 High-Frequency Coring Motor and the QS600 Drill Stand in August of 2024. These components incorporate high-frequency motor technology with a digital interface for wide-ranging speed control without gears, and it works on a single-phase power supply for simple jobsite application. The superior efficiency and the quick-release QS600 drill stand make this ideal for large-diameter coring, offering improved convenience and power.
What Are the Emerging Segments in the Diamond Core Drilling Market?
The diamond core drilling market covered in this report is segmented -
1) By Operational Type: Hand Type Drill, Rig-operated
2) By Drilling Type: Rotary Drilling, Wireline Drilling
3) By Drilling Technique: Stitch Drilling, Underwater Diamond Drilling, Surface Drilling, Underground Drilling
4) By End-Use: Construction, Mining
Subsegments:
1) By Hand Type Drill: Manual Handheld Drills, Battery-Operated Handheld Drills
2) By Rig-Operated: Truck-Mounted Rigs, Track-Mounted Rigs, Skid-Mounted Rigs, Portable Rigs
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Who Are the Global Leaders in the Diamond Core Drilling Market?
Major companies operating in the diamond core drilling market are Robert Bosch GmbH, Atlas Copco AB, Sandvik AB, Hilti Corporation, Husqvarna AB, Epiroc AB, Granite Construction Inc., Tyrolit Group, Boart Longyear Ltd., Milwaukee Electric Tool Corporation, Shibuya Company Ltd., Master Drilling Group Ltd., Mincon Group PLC, Ramset, Di-Corp, B+Btec GmbH, Rockdril, Albert Roller GmbH, DUSS Maschinenfabrik GmbH & Co. KG, Eibenstock Positron Elektrowerk Pvt, Geomachine Oy, LISSMAC Maschinenbau GmbH, WEKA Elektrowerkzeuge KG, MASSENZA Drilling Rigs Srl, Controls S.p.A, KERN-DEUDIAM Diamantwerkzeuge und Maschinen GmbH, APC Drilling & Constructions Private Limited, Golz GmbH
Which are the Top Profitable Regional Markets for the Diamond Core Drilling Industry?
Asia-Pacific was the largest region in the diamond core drilling market in 2024. The regions covered in the diamond core drilling market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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