The global mining drills and breakers market is expected to reach USD 17.03 billion by 2025, according to a new report by Grand View Research, Inc. Factors such as changes in manufacturing techniques, including the development of infrared, sonic, and optical micro cameras, to measure parameters in a borehole; development of high-performance drill heads and core bits have increased the feasibility of the mining equipment, thereby propelling the industry growth.
The increase in demand for underground mining equipment owing to proactive changes in energy efficiency regulations by various governments across the globe is contributing to the industry growth. Mining solutions based on the ongoing requirements for energy efficiency, improved safety, and reduced environmental impact are expected to positively affect the industry growth.
The growing focus of consumers on their core processes and the increasing demand for services are contributing to the growth of mining drills and breakers market. Additionally, automation has gained prominence in the industrial manufacturing and process industries, which is leading to reliable product quality, effective processes, and high production volume. In an attempt to increase efficiency, drilling contractors are also seeking to automate their process with the help of remote controlling, automation, and robotics.
Furthermore, mining companies are focusing on improving their safety and environmental records, transferring the standards governing these aspects of production to the equipment suppliers. These changes are expected to enhance productivity and the quality of drills & breakers. Mine operators are seeking opportunities for equipment that can operate in remote, deeper mines and efficiently handle the declining ore grades, thereby placing emphasis on availability, enhanced productivity, and cost optimization.
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Further key findings from the report suggest:
The hydraulic breakers segment is expected to grow the fastest, registering a CAGR of over 10% from 2017 to 2025.
The metal mining application is expected to grow at a CAGR of over 9.5% owing to continuous growth and developments in the construction, infrastructure, and automotive sectors.
Asia Pacific is expected to be the fastest-growing region. Favorable mining policies regarding exports of metals and minerals are expected to impact the regional growth positively over the next few years.
The Middle East and Africa (MEA) region is expected to contribute over 5% to the total revenue share by 2025. The provision of incentives to investors in mineral-based manufacturing is expected to further drive regional growth.
Key players in the industry include Metso Corporation, Komatsu Ltd., Caterpillar Inc., Sandvik AB, and Atlas Copco AB.
Grand View Research has segmented the mining drills & breakers market into product, application, and region.
Mining Drills & Breakers Product Outlook (Revenue, USD Million; 2014 - 2025)
Mining Drills & Breakers Application Outlook (Revenue, USD Million; 2014 - 2025)
Mining Drills & Breakers Regional Outlook (Revenue, USD Million; 2014 - 2025)
Middle East & Africa
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