Construction Industry Core Drill Market Size, Share, Growth Analysis, By Type(Wet drill bit and Dry drill bit), By Application(Electricians and Plumbers), By Region - Industry Forecast 2024-2031

Global Construction Industry Core Drill Market size was valued at USD 1.12 billion in 2022 and is poised to grow from USD 1.16 billion in 2023 to USD 1.60 billion by 2031, growing at a CAGR of 3.80% during the forecast period (2024-2031).

Increasing urbanization and construction across the globe are significant driving factors for the global construction industry core drill market growth. Urbanization and increasing demand for goods have increased the demand for new investments in infrastructure construction such as highways and underground construction. A core drill is a drill specifically designed to remove cylinders of material, such as holes. In developed countries, investments in infrastructure construction are increasing. The increasing demand for Tunnels and bridges, underground parking halls, underground municipal water treatment facilities, and oil storage that require special rock excavation and earth piling and underpinning increases the growth of the market. Construction and infrastructure investment increases the demand for minerals and rock materials. Excavation of foundations of buildings and excavation of road cuttings, piling, micro piling, and underpinning are drilling methods used in construction. Core drilling is a quick, and gentle method for drilling holes, and is generally noted as an essential service by most concrete-cutting specialists.

US Construction Industry Core Drill Market is poised to grow at a sustainable CAGR for the next forecast year.