USD 14.74 Billion
Mining Drills & Breakers Market Size, Share, Growth Analysis, By Product(Rotary Drills, Crawler Drills, Rock Breakers, Hydraulic Breakers), By Application(Metal Mining, Mineral Mining, Coal Mining), By Business(OEM, Aftersales), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG20I2218 |
Region:
Global |
Published Date: August, 2024
Pages:
202
|Tables:
64
|Figures:
75
Mining Drills & Breakers Market Insights
Global Mining Drills & Breakers Market size was valued at USD 14.74 Billion in 2022 and is poised to grow from USD 15.34 Billion in 2023 to USD 21.16 Billion by 2031, at a CAGR of 4.10% during the forecast period (2024-2031).
The global market for Mining Drills & Breakers has exhibited notable growth in recent years. Factors such as increasing demand for minerals and metals, coupled with technological advancements in mining operations, have been key drivers for this expansion.
Additionally, stringent safety and environmental regulations have prompted mining companies to invest in more efficient and sustainable drilling and breaking equipment. Market players are continuously innovating to develop products with enhanced capabilities, further intensifying competition in the industry.
Moreover, emerging economies are witnessing a surge in mining activities, contributing to the overall market surge. These dynamics collectively indicate a promising outlook for the Mining Drills & Breakers market in the foreseeable future.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Metal Mining
Fastest Growth
Metal Mining
Growth Rate
4.10% CAGR
Mining Drills & Breakers market ($ Bn)
Country Share for Asia Pacific Region (%)
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Mining Drills & Breakers Market Segmental Analysis
The global mining drills & breakers market is segmented on the basis of product, application, business, and region. Based on product, the market is segmented into Rotary drills, crawler drills, rock breakers, hydraulic breakers, and others. Based on application, the market is segmented into Metal Mining, Mineral Mining, and Coal Mining. Based on business, the market is segmented into OEM, and Aftersales. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
Analysis by Product
Rotary drills currently stand out as the dominating product category. Their widespread adoption can be attributed to their versatility and efficiency in a variety of mining applications, including open-pit and underground mining. Rotary Drills offer precise drilling capabilities, making them a preferred choice for many mining operations. Their robust performance and ability to handle diverse geological conditions have solidified their dominance.
However, hydraulic breakers are experiencing the fastest growth in the global market. This can be attributed to their adaptability in various construction and mining tasks, offering efficient rock-breaking capabilities. Hydraulic Breakers are gaining prominence due to their durability, reduced maintenance needs, and compatibility with a wide range of machinery. The growing need for efficient and safe demolition and excavation methods is driving the rapid expansion of the Hydraulic Breakers segment in the market.
Analysis by Application
Metal Mining stands out as the dominating application. This dominance can be attributed to the robust demand for metals such as copper, iron ore, and gold, driven by infrastructure development and the transition to renewable energy sources. Metal mining operations often require specialized drilling and breaking equipment to access valuable ore deposits, which sustains the market's growth.
However, mineral mining is emerging as the fastest-growing application in the global Mining Drills & Breakers market. This growth is fueled by the increasing demand for minerals like lithium, rare earth elements, and other critical materials essential for technologies like electric vehicles and renewable energy systems. As the world transitions towards cleaner energy solutions and advanced technologies, the need for efficient drilling and breaking equipment in mineral mining operations is surging, making it the fastest-growing segment in the market.
Mining Drills & Breakers market by Application
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Mining Drills & Breakers Market Regional Insights
Asia Pacific region is currently dominating the global Mining Drills & Breakers market. This dominance is attributed to the region's substantial mining activities, particularly in countries like China, Australia, and India, which are major contributors to the global mining industry. The increasing demand for minerals and metals, driven by infrastructure development and industrialization, has spurred the adoption of advanced drilling and breaking equipment in this region.
However, Latin America is the fastest-growing region in the global Mining Drills & Breakers market. The region is experiencing significant growth due to the expansion of mining operations in countries like Brazil, Chile, and Peru. Rich in mineral resources, Latin America has attracted substantial investments in mining infrastructure. Additionally, favorable government policies and an increasing focus on sustainable mining practices have boosted the demand for advanced drilling and breaking technologies in this region, driving its rapid growth.
Mining Drills & Breakers Market by Region
- Largest
- Fastest
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Mining Drills & Breakers Market Dynamics
Drivers
Technological Advancements
- Technological advancements are a significant driver in the Mining Drills & Breakers market. Manufacturers are constantly innovating to develop more efficient, automated, and environmentally friendly equipment. These advancements enhance productivity, reduce operational costs, and improve safety, making them highly attractive to mining companies.
Restraints
Environmental Regulations
- Environmental regulations pose a substantial restraint in the market. Stringent environmental standards and regulations require mining operations to minimize their environmental impact. This necessitates the adoption of eco-friendly drilling and breaking equipment, which can be costly to implement. Compliance with these regulations can increase operational expenses and pose challenges for some companies in the industry.
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Mining Drills & Breakers Market Competitive Landscape
The competitive landscape in the Global Mining Drills & Breakers market is characterized by intense rivalry among various manufacturers and suppliers. Companies in this industry are continually striving to gain a competitive edge through product innovation, technological advancements, and strategic partnerships. Market players are focusing on the development of advanced, energy-efficient, and environmentally friendly drilling and breaking equipment to meet evolving customer demands and stringent regulatory requirements. Additionally, global market dynamics, including shifts in commodity prices and geopolitical factors, influence the competitive strategies of companies, leading to a dynamic and competitive marketplace.
Top Player’s Company Profiles
- Komatsu Ltd. (Japan)
- Caterpillar, Inc. (US)
- Sandvik AB (Sweden)
- Atlas Copco AB (Sweden)
- Boart Longyear Ltd. (UK)
- Epiroc AB (Sweden)
- Joy Global (US)
- Hitachi Construction Machinery Co., Ltd. (Japan)
- Liebherr Group (Switzerland)
- Doosan Infracore Co., Ltd. (South Korea)
- J.H. Fletcher & Co. (US)
- Normet Group (Finland)
- FLSmidth & Co. A/S (Denmark)
- Komatsu Mining Corp. (US)
- SANY Group (China)
- Furukawa Co., Ltd. (Japan)
- The Toro Company (US)
- Astec Industries, Inc. (US)
- Sandvik Mining and Rock Technology (Sweden)
- Royal IHC (Netherlands)
Recent Developments
- In March 2023, Komatsu Ltd., a Japanese heavy machinery manufacturer, announced the launch of its new D41EX-22 hydraulic excavator. The excavator is designed for use in underground mining applications.
- In April 2023, Metso Corporation, a Finnish mining equipment manufacturer, announced that it had opened a new service center in Australia. The service center will provide maintenance and repair services for Metso's mining equipment.
- In May 2023, Boart Longyear, an American mining equipment manufacturer, announced the launch of its new Roadheader R35. The roadheader is designed for use in underground mining applications.
Mining Drills & Breakers Key Market Trends
- Automation and Remote Monitoring: Mining companies are embracing automation to decorate operational efficiency and protection. These technologies permit for real-time tracking and manipulate of drilling and breaking gadget, reducing the want for human intervention in probably risky environments.
- As the industry seeks to optimize productivity and minimize downtime, the integration of automation and remote monitoring is becoming a transformative trend.
Mining Drills & Breakers Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to global mining drills & breakers market analysis, the market has been steadily growing, driven by a combination of factors such as increased mineral and metal demand, infrastructure development, and technological advancements in equipment.
However, the market faces challenges, including stringent environmental regulations and volatile commodity prices that can impact investment decisions. Looking ahead, the market is poised for further evolution. Future growth is likely to be fueled by the ongoing drive for sustainability, with a growing emphasis on eco-friendly drilling and breaking technologies. Automation and remote monitoring will continue to gain prominence, enhancing safety and operational efficiency. Moreover, as mining operations expand in emerging economies, regions like Latin America and Africa are expected to play a more significant role in the global market. Market players should remain agile, focusing on innovation and adapting to evolving customer needs and regulatory landscapes. Collaboration between equipment manufacturers and mining companies will be crucial in shaping the future of the industry, ensuring sustainable and efficient mining practices while meeting global resource demands.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 14.74 Billion |
| Market size value in 2031 | USD 21.16 Billion |
| Growth Rate | 4.10% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Mining Drills & Breakers Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Mining Drills & Breakers Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Mining Drills & Breakers Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Mining Drills & Breakers Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Mining Drills & Breakers Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Mining Drills & Breakers Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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