According to the latest report by IMARC Group, titled “Mining Drills & Breakers Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” offers a comprehensive analysis of the industry, which comprises insights on the global mining drills & breakers market forecast.The report also includes competitor and regional analysis, and contemporary advancements in the market.
The global mining drills & breakers market size reached US$ 15.7 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 22.3 Billion by 2028, exhibiting a growth rate (CAGR) of 6.2% during 2023-2028.
Mining drills & breakers refer to mining equipment utilized for drilling holes or crushing rocks on the surface of a coalbed. They can be categorized into rotary drills, crawler drills, rock breakers, hydraulic breakers, etc. These mining drills & breakers are used for extracting new mineral deposits, including rock, clay, limestone, sulfur, salts, and fertilizer minerals. They even aid in obtaining detailed information about rock fabric, rock types, mineral content, and the relationship between the rock layers and the surface. As a result, mining drills & breakers machines find extensive applications across numerous sectors, such as coal, metal, mining, etc.
Market Trends
The rising mineral exploration activities and the expanding mining industry across countries are among the key factors driving the mining drills & breakers market. In addition to this, the increasing need for efficient mining solutions and powerful machinery to withstand various challenges, including water shortages, loss of biodiversity, soil erosion, etc., is acting as another significant growth-inducing factor.
Moreover, the inflating investments by leading market players in research and development (R&D) activities to introduce new equipment integrated with advanced technologies such as cognitive computing and artificial intelligence (AI) are also positively influencing the market growth. In line with this, the emerging trend of automation and the elevating incorporation of the internet of things (IoT) technologies in mining and drilling operations are further catalyzing the global market. Apart from this, the escalating adoption of backhoe loaders and excavators for digging trenches and holes, transportation of building material, small demolitions, excavation, breaking asphalt, land scaring, paving roads, etc., is expected to stimulate the mining drills & breakers market in the coming years.
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For The Competitor Segment, The Report Includes Global Key Players Of The Mining Drills & Breakers Market.
- Atlas Copco AB
- Boart Longyear
- Casagrande S.p.A.
- Caterpillar Inc.
- Doosan Corporation
- Epiroc AB, Furukawa Co. Ltd.
- Geodrill Limited, Komatsu Ltd.
- Sandvik AB
- and Soosan Heavy Industries Co. Ltd.
- Drills
- Breakers
- Rotary Drills
- Crawler Drills
- Rock Breakers
- Hydraulic Breakers
- Others
- Metal Mining
- Mineral Mining
- Coal Mining
- Original Equipment Manufacturer (OEM)
- Aftersales
- Utility
- Residential
- Commercial and Industrial
- Asia Pacific
- North America
- Europe
- Middle East and Africa
- Latin America
