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Surface Drilling Rigs Market Is Expected To Generate Huge Profits by 2017 - 2027

05-30-2017 10:34 AM CET | Advertising, Media Consulting, Marketing Research

Press release from: Future Market Insights

Surface Drilling Rigs Market Is Expected To Generate Huge

Surface drilling rigs are exclusively used in quarrying, surface mining, and the construction industry. In order to meet the demands from these sectors, surface drilling rigs are designed in such a way that they can be utilized in tough conditions and hazards areas. Rapid rise of industrialization and flourishing construction and mining activities drive growth of the surface drilling rigs market. Construction and mining industries have seen sluggish growth after the global economy crisis of 2008-2009. After a short while, both industries recovered and saw stabilized growth.

To lay down the bore wells, surface drilling rigs are used in a part of drilling. To lay depth foundations of high raised buildings in construction, small-split holes are needed; surface drilling rigs are used widely in construction sites to drill these holes. Surface drilling rigs are also used for rock cutting and rock blasting in the quarrying industry.

Surface drilling rigs combine the power of mechanical and hydraulic processes for energy transmission while drilling. Drilling is the process of cutting out a circular cross-sectional area in a solid rock or surface. In order to create this hole, hammering action is applied from the top. There are two types of drillings in the mining industry for locating minerals and checking their quality. Production drilling is used to drill large-split holes for the production cycle of minerals. To explore minerals found in the earth, solid rocks need to be cut down by rock blasting. Surface mining can be done in different fragmented sizes, such as with small splits and large production holes. Independent modules are available to optimize the interaction between the downhole drilling system and the subsurface for selected drilling processes.

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To deliver constant power and high precision, surface drilling rigs offer two drilling methods, namely top-hammer method, and down-the-hole. The surface top hammer drill offers reliability and high penetration rate in the toughest conditions. The down-the-hole drill, referred to as DTH, is similar to a small jack hammer, and can drill up to 500 feet or 150 meters per day.

APAC holds a relatively large share in the global surface drilling rigs market. This can be attributed to the presence of rapidly growing economies, such as China and India in this region. With a large number of investments and huge infrastructure developments in both, industrial and commercial sectors, the Middle East holds the second spot in terms of market share. Another key contributing factor to this region’s share is rising construction activities in countries, such as Qatar and Saudi Arabia. Also, increased production of iron, copper, and bauxite in the mining industry has boosted demand for these rigs globally. North America and Europe are anticipated to witness prominent growth in the surface drilling rigs market, due to steady growth of the mining industry and rising investments in construction.

Surface Drilling RigsMarket: Segmentation

Segmentation of the surface drilling rigs market on the basis of drilling method:

Top-hammer

Down-the-hole

Segmentation of the surface drilling rigs market on the basis of application type:

Mining

Quarrying

Dimension stone industry

Construction

Segmentation of the surface drilling rigs market on the basis of hole diameter:

27 mm – 90 mm

90.01 mm – 153 mm

153.01 mm – 216 mm

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Surface Drilling RigsMarket: Key Trends and Drivers

Increasing investment in construction and mining industries is anticipated to be a key driver for this market, since surface drilling rigs find applications in emerging projects. The development of surface drilling rigs with latest advancements in drilling technology is also expected to drive growth of the market. Surface drilling rigs with low operating cost and high fuel economy are expected to witness prominent growth in the coming future. High performance surface drilling rigs are used in the mining industry to meet the demand from production cycles, which in turn is forecasted to drive growth of the market. Drilling rigs with high safety and comfort are key trends identified in this market. The operational cost of surface drilling rigs is high, as compared to other rotary drilling rigs, which acts as a restraint for the market.

Surface Drilling RigsMarket: Market Participants

Examples of some of the market participants in the surface drilling rigs market, identified across the value chain include Bauer AG, Atlas Copco, Sany Group Co. Ltd., Schramm Inc., and Beijing Sinovo International.

Browse Full Report: http://www.futuremarketinsights.com/reports/surface-drilling-rigs-market

ABOUT US:
Future Market Insights (FMI) is a leading market intelligence and consulting firm. We deliver syndicated research reports, custom research reports and consulting services, which are personalized in nature. FMI delivers a complete packaged solution, which combines current market intelligence, statistical anecdotes, technology inputs, valuable growth insights, an aerial view of the competitive framework, and future market trends.

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Email: sales@futuremarketinsights.com
Website: http://www.futuremarketinsights.com/

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