The global mining drills breakers market size is expected to reach USD 26.07 Billion by 2028 and register a revenue CAGR of 10.3%, according to the latest report by Reports and Data. Rising demand for energy- and cost-efficient underground mining equipment and increasing exploration activities are key factors expected to drive market growth over the forecast period. In addition, increasing investment in mining industries to expand research and development and to produce more efficient and safer mining equipment to enable more productive mining operations is another key factor expected to drive revenue growth of the market over the forecast period.
Top Companies Operating in the Global Mining Drills and Breakers Market:
Komatsu Ltd., Caterpillar, Inc., Sandvik AB, Atlas Copco AB, Geodrill Ltd., Epiroc AB, Metso Corporation, and Boart Longyear Ltd.
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Mining drills and breakers are extraction equipment utilized for surface mining operations and to drill below the earth’s surface, while breakers are used to break large stones and rocks during the process. Drilling in mines is primarily to create blastholes for tunneling or mining purposes, but secondary goals can be to place bolts or facilitate exploration activities. Rapid advancements in high-performance drill heads has enhanced feasibility of mining machinery and this is expected to drive market growth over the forecast period. Increasing incorporation of Artificial Intelligence and automated solutions is a key trend major mining companies are following, and this is expected to continue over the forecast period.
Consumers are placing a higher importance on sustainability and, as a result, are choosing items based on factors like circularity and carbon footprint. Furthermore, consumer concern about carbon emissions has prompted increased investment in renewable energy, energy efficiency, and transportation decarbonization. These developments have had considerable impact on chemical end sectors, particularly in the automobile and construction industries. COVID-19 has exacerbated the situation by lowering the automobile and construction industries (as well as many others) and disrupting current supply lines.
Rapid technological advancements in infrared, sonic drills, and optical micro cameras, and increasing adoption of IoT and automation across the mining industry is further expected to boost market revenue growth over the forecast period. However, stringent regulations regarding impact on the environment and increasing pollution caused by mining operations is expected to restrain market growth to a certain extent over the forecast period. Negative impacts such as erosion, sinkholes, and contamination of groundwater and surface water due to chemicals used or released during mining operations are expected to hamper market growth to a significant extent over the forecast period.
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Mining Drills and Breakers Market Segmentation
- Rotary Drills
- Crawler Drills
- Rock Breakers
- Hydraulic Breakers
- Metal Mining
- Coal Mining
- Mineral Mining
The report is written with the aid of industry analysts, market segmentation, and data collection in order to assist readers in making profitable business decisions. The report includes a comprehensive database of technical and product advances. It also provides information on growth rates and market value, as well as a thorough examination of niche market segments. The report provides strategic advice to newcomers and existing businesses about how to make profitable and well-informed business decisions.
The Mining Drills and Breakers market has been segmented into key regions of the world and offers an analysis of growth rate, market share, current and emerging trends, production and consumption ratio, industrial chain analysis, demand and supply, import and export, revenue contribution, and presence of key players in each region. A country-wise analysis of the market is offered in the report to gain a better understanding of the regional spread and progress of the Mining Drills and Breakers market.
The global Mining Drills and Breakers market is segmented into:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Key Questions Addressed in the Report:
- What are the dominating factors that are influencing the growth of the industry?
- In the forecast period, which market segment is expected to rise the most?
- What are the risks and challenges that the industry is facing?
- In the coming years, which area is projected to dominate the market?
- Who are the major players in the market? What kind of strategic business plans have they made?
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