Mining Drills & Breakers Market Size 2022, Share, Growth, Industry Trends and Forecast Till 2027

Mining Drills & Breakers Market

According to the latest report by IMARC Group, titled “Mining Drills & Breakers Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” offers a comprehensive analysis of the industry, which comprises insights on the global mining drills & breakers market growth.The report also includes competitor and regional analysis, and contemporary advancements in the market.

The global mining drills & breakers market size reached US$ 14.63 Billion in 2021.Looking forward, IMARC Group expects the market to reach a value of US$ 21.2 Billion on by 2027, exhibiting a growth rate (CAGR) of 6.20% during 2022-2027.

Covid-19 Impact:

We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

Mining Drills & Breakers Market Overview

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.

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Market drivers in a Mining Drills & Breakers market

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.

Competitive Landscape

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.

Report Segmentation:

The report has been segmented the market into following categories:

Breakup by Type:

  • Drills
  • Breakers

Breakup by Product:

  • Rotary Drills
  • Crawler Drills
  • Rock Breakers
  • Hydraulic Breakers
  • Others

Breakup by Application:

  • Metal Mining
  • Mineral Mining
  • Coal Mining

Breakup by Sales Channel:

  • Original Equipment Manufacturer (OEM)
  • Aftersales

Breakup by End-Use Sector:

  • Utility
  • Residential
  • Commercial and Industrial

Based on the end-use sector, the report finds that the utility sector dominates the market. There are many ongoing development projects undertaken by various nations, which require a continuous flow of electricity. Owing to this, there is a rising demand for power inverters in this sector.

Regional Insights:

  • Asia Pacific
  • North America
  • Europe
  • Middle East and Africa
  • Latin America

On the geographical front, Asia Pacific enjoys the leading position in the market. This can be attributed to the rising establishment of international companies in the region, on account of low manufacturing costs and cheap labor.

If you want latest primary and secondary data (2022-2027) with Cost Module, Business Strategy, Distribution Channel, etc. Click request free sample report, published report will be delivered to you in PDF format via email within 24 to 48 hours of receiving full payment.

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About Us:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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