About Mining Drills and Breakers
Mining drills and breakers, the most common component of heavy machinery, plays a significant role in underground mining operations. Drills and breakers are utilized to drill earth surface and demolish stones or rock for mining operation respectively. The growth in the demand for underground mining equipment owing to rapid changes in energy efficiency and environmental regulations by several countries government is contributing to the industry growth globally. Of late, increasing investments in the development of advanced technologies that offer enhanced efficiency, improved automation and safer mining operations by various mining organizations across the world.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Billion) |
CAGR | 5.9% |
The global market is highly competitive and consists of a limited number of providers who compete with each other. The intense competition, changing consumer spending patterns, demographic trends, and frequent changes in consumer preferences pose significant opportunities for market growth. Analyst at AMA Research estimates that Global Manufacturers will contribute the maximum growth to Global Mining Drills and Breakers market throughout the forecasted period. Established and emerging Manufacturers should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Boart Longyear (United States), Caterpillar Inc. (United States), Doosan Corporation (South Korea), Energold Drilling Corp (Canada), Epiroc AB (Sweden), Furukawa Co. Ltd (Japan), Geodrill Limited (Isle of Man), Komatsu Ltd (Japan), Metso Corporation (Finland) and Sandvik AB (Sweden) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research coverage are Volvo Construction Equipment (Sweden) and Sany Group (China).
Segmentation Overview
AMA Research has segmented the market of Global Mining Drills and Breakers market by Type (Drills (Rotary Drills, Crawler Drills and Other) and Breakers (Rock Breakers, Hydraulic Breakers and Others)), Application (Metal Mining, Mineral Mining, Coal Mining and Others Mining Applications) and Region.
On the basis of geography, the market of Mining Drills and Breakers has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Business Type, the sub-segment i.e. Original Equipment Manufacturers (OEMs) will boost the Mining Drills and Breakers market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
The Advent of Autonomous Mining Equipment Globally
Market Growth Drivers:
Continuously Growth in the Demand for Metals and Commodities Across the World to Boost the Demand for Mining Drills and Breakers
Challenges:
Environmental and Human Rights Concerns and Government Regulations Related to the Mining Operations
Restraints:
The Dearth of Standardization and High Production Cost, High Cost of Mining Drills and Breakers and Presence Local or Unorganized Players in Several Geographic Regions
Opportunities:
Upcoming Emission Regulations and Technological Advancement and Increasing Mining Activities for Coal and Other Precious Metals across the World
Market Leaders and their expansionary development strategies
In September 2023, MACA has selected Sandvik Mining and Rock Solutions to supply nine new surface drill rigs as a complete replacement for an aging mixed fleet at the Gruyere open pit gold mine in the Western Australian Goldfields, where it was recently awarded a five-year contract extension.
In November 2023, Sandvik Mining and Rock Solutions is introducing AutoMine® for Underground Drills, a cutting-edge tele-remote solution that enables operators to remotely and simultaneously control and supervise multiple automated Sandvik underground drills, increasing efficiency, safety and overall productivity in mining operations.
"The first layer of environmental regulation imposed on mining operations is the mandatory possession of a government-approved permit for all new and ongoing mining operations in the United States, including strictly exploratory missions. The impetus for this first layer is to ensure that all environmental laws are being followed from the beginning of the mining process until the end. Moreover, various states have developed their own mining regulatory statutes, but they are usually as or more stringent than the federal laws."
Key Target Audience
Mining Drills and Breakers Manufacturers, Technology Providers, Component Manufacturers, Mining Companies, Government Bodies and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.