Growing Number Of Mining Projects Propels Market Growth Owing To Rising Global Demand For Minerals: Transformative Forces Shaping the Rock Drilling Equipment Market Landscape in 2025

Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.

What Will the Rock Drilling Equipment Industry Market Size Be by 2025?
The market size for rock drilling equipment has experienced slight growth in recent years. Expected to increase from $2.28 billion in 2024 to $2.29 billion in 2025, the compound annual growth rate (CAGR) stands at 0.5%. Factors such as improved durability due to diamond-tipped bits, increased uptake of renewable technology, a higher demand for remote-operated tools, worldwide growth in housing projects, and a shift towards intelligent mining practices have contributed to the growth during the historic period.

What's the Long-Term Growth Forecast for the Rock Drilling Equipment Market Size Through 2029?
In the upcoming years, the rock drilling equipment market is projected to experience a slight increase in growth. It's predicted to reach a market value of $2.41 billion in 2029, with a compound annual growth rate (CAGR) of 1.3%. Factors like increased demand for 3D-printed drill bits, expanded multi-blade configurations, emphasis on lessening the environmental effects of drilling, growth of geothermal energy projects, and surging demand for steel contribute to the predicted growth for the forecasted period. Major anticipated trends include the production of energy-efficient drilling machines, technological progress, automation of drilling systems, digital transformation of drilling equipment and progress in remotely controlled drilling equipment.

View the full report here:
https://www.thebusinessresearchcompany.com/report/rock-drilling-equipment-global-market-report

What Are the Key Growth Drivers Fueling the Rock Drilling Equipment Market Expansion?
The expansion of the rock drilling equipment market is anticipated to be fueled by the rising number of mining projects. These projects, which are meticulously planned for the inspection, extraction, and handling of minerals or other geological materials from the Earth's surface or subsurface, are increasing due to factors like escalating worldwide demand for minerals and raw materials. This demand is driven by industrialization, urbanization, renewable energy endeavors, and innovation in technology. Rock drilling equipment plays a crucial role in these mining projects, creating accurate holes needed for blasting, exploration, and tunneling. This not only enhances productivity and ensures safety but also cuts operational costs, facilitates the extraction of precious minerals with higher precision, and minimizes environmental damage. For example, the US Energy Information Administration reported that U.S. coal production in 2022 escalated by 2.9%, reaching a total of 594.2 million short tons (MMst). Moreover, the count of active mines grew to 548 from 512 in 2021. Hence, the increasing number of mining projects is stimulating the growth of the rock drilling equipment market.

Get your free sample here:
https://www.thebusinessresearchcompany.com/sample.aspx?id=21563&type=smp

What Are the Key Trends Driving Rock Drilling Equipment Market Growth?
Significant players in the rock drilling equipment market are directing their innovations towards the advancement of down-the-hole drilling, with the end goal of augmenting drilling efficiency, minimizing operation expenses, reinforcing safety measures, and enhancing the resilience and performance of their machinery in arduous mining conditions. Down-the-hole (DTH) drilling is a renowned procedure adopted across mining, construction, and water well industries, wherein the drill bit is fitted on the extremity of the drill string, culminating the drilling right at the hole's basis. For instance, Epiroc AB, a mining enterprise based in Sweden, introduced the Epiroc DTH drill bits in January 2023. These drill bits offer extended service life, translating to fewer disruptions and prolonged periods of uninterrupted drilling. Epiroc has perfected the flush and management of drill waste. The bits are now equipped with a greater number of buttons, amplifying the overall drilling energy. The fresh drill bits come with an improved design that enables them to last nearly 20% longer than older models, leading to a steady drilling output and elevated productivity for their operators.

How Is the Rock Drilling Equipment Market Segmented?
The rock drilling equipment market covered in this report is segmented -

1) By Product: Rotary Drilling Tools; Down-The Hole Drilling Tools; Horizontal Drilling Tools; Handheld Drilling Tools; Other Products
2) By Manufacturer: Original Equipment Manufacturer (OEM); Aftermarket
3) By Application: Mining Industry; Construction Industry; Quarrying; Oil And Gas; Other Applications

Subsegments:
1) By Rotary Drilling Tools: Tricone Drill Bits; Drag Bits; Roller Cone Bits; Polycrystalline Diamond Compact (PDC) Bits
2) By Down-The-Hole (DTH) Drilling Tools: DTH Hammers; DTH Drill Bits; DTH Pipes; DTH Shock Absorbers
3) By Horizontal Drilling Tools: Horizontal Directional Drilling (HDD) Rigs; Mud Motors; Drill Pipes; Reamers
4) By Handheld Drilling Tools: Pneumatic Rock Drills; Hydraulic Rock Drills; Electric Handheld Drills; Manual Core Drills
5) By Other Products: Auger Drills; Sonic Drilling Equipment; Casing Drilling Tools; Percussion Drilling Equipment

Tailor your insights and customize the full report here:
https://www.thebusinessresearchcompany.com/customise?id=21563&type=smp

Which Companies Are Leading the Charge in Rock Drilling Equipment Market Innovation?
Major companies operating in the rock drilling equipment market are Caterpillar Inc., Sandvik AB, Epiroc AB, Xuzhou Construction Machinery (XCMG) Group, Weir Group, Atlas Copco AB, Boart Longyear Pty Ltd., Boart Longyear Group Ltd., Herrenknecht AG, Mincon Group plc, Shanghai Hardrock Drills Co. Ltd., Rockmore International Inc., Furukawa Rock Drill Co. Ltd., Numa Tool Company, Drill King International Lp, Gill Rock Drill Company, Mindrill System Solutions Pvt. Ltd., Holte Drilling Manufacturing Co., Rock-Tech International Inc., Sunward Equipment Group

Which Regions Are Leading the Global Rock Drilling Equipment Market in Revenue?
Asia-Pacific was the largest region in the rock drilling equipment market in 2024. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the rock drilling equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Purchase the full report today:
https://www.thebusinessresearchcompany.com/purchaseoptions.aspx?id=21563

This Report Supports:
1.Business Leaders & Investors - To identify growth opportunities, assess risks, and guide strategic decisions.
2.Manufacturers & Suppliers - To understand market trends, customer demand, and competitive positioning.
3.Policy Makers & Regulators - To track industry developments and align regulatory frameworks.
4.Consultants & Analysts - To support market entry, expansion strategies, and client advisory work.

Connect with us on:
LinkedIn: https://in.linkedin.com/company/the-business-research-company,
Twitter: https://twitter.com/tbrc_info,
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ.

Contact Us
Saumya Sahey
Europe: +44 7882 955267,
Asia: +44 7882 955267 & +91 8897263534,
Americas: +1 310-496-7795
Email: saumyas@tbrc.info

Learn More About The Business Research Company
With over 15,000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Our flagship product, the Global Market Model delivers comprehensive and updated forecasts to support informed decision-making.

This release was published on openPR.