Increasing mineral and metal exploration activities and rising need for energy- and cost-efficient underground mining equipment are key factors driving market growth
Market Size – USD 11.90 Billion in 2020, Market Growth –
at a CAGR of 10.3%, Market Trends – Increasing R&D activities to develop
safer and more efficient mining equipment
The global Mining
Drills & Breakers Market size is expected to reach USD 26.07
Billion by 2028 and register a revenue CAGR of 10.3%, according to the latest
report by Reports and Data. Rising demand for energy- and cost-efficient
underground mining equipment and increasing exploration activities are key
factors expected to drive market growth over the forecast period. In addition,
increasing investment in mining industries to expand research and development
and to produce more efficient and safer mining equipment to enable more
productive mining operations is another key factor expected to drive revenue
growth of the market over the forecast period.
Mining drills and breakers are extraction equipment utilized
for surface mining operations and to drill below the earth’s surface, while
breakers are used to break large stones and rocks during the process. Drilling
in mines is primarily to create blastholes for tunneling or mining purposes,
but secondary goals can be to place bolts or facilitate exploration activities.
Rapid advancements in high-performance drill heads has enhanced feasibility of
mining machinery and this is expected to drive market growth over the forecast
period. Increasing incorporation of Artificial Intelligence and automated
solutions is a key trend major mining companies are following, and this is
expected to continue over the forecast period.
Rapid technological advancements in infrared, sonic drills,
and optical micro cameras, and increasing adoption of IoT and automation across
the mining industry is further expected to boost market revenue growth over the
forecast period. However, stringent regulations regarding impact on the
environment and increasing pollution caused by mining operations is expected to
restrain market growth to a certain extent over the forecast period. Negative
impacts such as erosion, sinkholes, and contamination of groundwater and
surface water due to chemicals used or released during mining operations are
expected to hamper market growth to a significant extent over the forecast period.
Get a sample of the
report @ https://www.reportsanddata.com/sample-enquiry-form/3941
Major companies in the market include Komatsu Ltd.,
Caterpillar, Inc., Sandvik AB, Atlas Copco AB, Geodrill Ltd., Epiroc AB, Metso
Corporation, and Boart Longyear Ltd., among others.
Some Key Highlights from the Report:
- Rock
breakers segment is expected to register significant revenue CAGR over the
forecast period, attributable to increasing mining activities and rising
popularity of breakers that augment safety and productivity of mining
equipment and operations.
- Metal
mining segment is expected to account largest revenue share in the global
market over the forecast period owing to rising demand for metals such as
gold, steel, and aluminum across various industry verticals such as
automotive and building & construction.
- Asia
Pacific market revenue is expected to expand significantly over the
forecast period owing to rapid expansion of building & construction
sector, increasing infrastructure development, rising economic growth, and
increasing implementation of favorable policies that support exploration
activities in the region.
- In
October 2020, Komatsu Mining introduced three new drilling and bolting
products that are designed to cater to consumer demand for safer, more
reliable, and productive mining equipment.
To identify the key
trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/mining-drills-and-breakers-market
For the purpose of this report, Reports and Data has
segmented the global mining drills & breakers market based on product,
end-use, and region:
Product Outlook (Revenue, USD Billion; 2018-2028)
- Rotary
Drills
- Crawler
Drills
- Rock
Breakers
- Hydraulic
Breakers
Application Outlook (Revenue, USD Billion; 2018-2028)
- Metal
Mining
- Coal
Mining
- Mineral
Mining
- Others
Request a customization of the report @ https://www.reportsanddata.com/request-customization-form/3941
Regional Outlook (Revenue, USD Billion; 2018-2028)
- North
America
- Europe
- Asia
Pacific
- Latin
America
- Middle
East & Africa
Thank you for reading
our report. For customization inquiry or further information, please connect
with us and we will ensure you get the report that meets your
requirements.
About Us:
Reports and Data
is a market research and consulting company that provides syndicated research
reports, customized research reports, and consulting services. Our solutions
purely focus on your purpose to locate, target and analyze consumer behavior
shifts across demographics, across industries and help client’s make a smarter
business decision. We offer market intelligence studies ensuring relevant and
fact-based research across a multiple industries including Healthcare,
Technology, Chemicals, Power and Energy. We consistently update our research
offerings to ensure our clients are aware about the latest trends existent in
the market.
Contact Us:
John Watson
Head of Business Development
Direct Line: +1-212-710-1370
E-mail: sales@reportsanddata.com
Reports and Data | Web: www.reportsanddata.com
No comments:
Post a Comment