Rise in demand for underground mining equipment and surge in demand for coal, metal, and mineral mine drive the growth of the global mining drills and breakers market
PORTLAND, Ore., Feb. 24, 2022 /PRNewswire/ -- Allied Market Research published a report, titled, "Mining Drills and Breakers Market by Machinery Type (Drills and Breakers), Business (Original Equipment and Aftersales), and Application (Metal Mining, Mineral Mining and Coal Mining): Global Opportunity Analysis and Industry Forecast, 2021–2030." According to the report, the global mining drills and breakers industry generated $13.58 billion in 2020, and is estimated to reach $20.67 billion by 2030, witnessing a CAGR of 4.1% from 2021 to 2030.
Drivers, Restraints, and Opportunities
Rise in demand for underground mining equipment and surge in demand for coal, metal, and mineral mine drive the growth of the global mining drills and breakers market. However, strict government regulations related to mining operations hinder the market growth. On the other hand, technological advancements in the mining sector and rise in investments in the mining industries present new opportunities in the coming years.
Download Sample PDF: https://www.alliedmarketresearch.com/request-sample/5267
Covid-19 Scenario
- Production activities of different machinery types of drills and breakers stopped completely or partially due to lockdown restrictions. Moreover, shortage of raw materials and disruptions in the supply chain led to halt in production activities.
- The demand from construction and industrial sectors reduced considerably due to disruptions in daily activities. These sectors began operations with full capacities post-lockdown and the demand for drillers and breakers rose steadily.
The drills segment to maintain its lead position by 2030
Based on machinery type, the drills segment held the largest market share in 2020, accounting for more than two-thirds of the global mining drills and breakers market, and is expected to maintain its lead position by 2030. This is attributed to development in transport and conveyance sector and increased mineral fertilizers for advancing agriculture activities. However, the breakers segment is estimated to register the highest CAGR of 4.8% during the forecast period, owing to rise in usage of artificial sand in the construction sector and surge in mining operations that need breakers such as tunnel breakers, heat-resistant breakers, and stationary breakers.
Get detailed COVID-19 impact analysis on the Mining Drills and Breakers Market: https://www.alliedmarketresearch.com/request-for-customization/5267
The metal mining segment to maintain its leadership status based in terms of revenue by 2030
Based on application, the metal mining segment accounted for nearly half of the global mining drills and breakers market in 2020, and is estimated to maintain its leadership status based in terms of revenue by 2030. Moreover, this segment is expected to manifest the fastest CAGR of 4.5% during the forecast period. This is attributed to surge in demand from the automotive, aerospace, and construction industries along with need for premium metals such as titanium, diamond, and platinum in developing countries. The research analyzes the segments including mineral mining and coal mining.
Asia-Pacific, followed by North America, to maintain its dominance throughout the forecast period
Based on region, Asia-Pacific, followed by North America, contributed to the highest market share in 2020, accounting for nearly half of the total market share of the global mining drills and breakers market, and is estimated to maintain its dominance throughout the forecast period. Moreover, this region is projected to witness the largest CAGR of 4.8% during the forecast period. This is attributed to rise in demand for minerals and precious metals such as gold, diamond, silver, and platinum along with surge in need for coal.
Leading Market Players
- Boart Longyear
- Caterpillar, Inc.
- Doosan Corporation
- Atlas Copco AB
- Epiroc AB
- Furukawa Co., Ltd.
- GEODRILL Limited
- Komatsu Ltd.
- Metso Outotec Corporation
- Sandvik AB
Interested in Procure Data? Visit: https://www.alliedmarketresearch.com/purchase-enquiry/5267
Access AVENUE- A Subscription-Based Library (Premium on-demand, subscription-based pricing model) at: https://www.alliedmarketresearch.com/library-access
Avenue is a user-based library of global market report database, provides comprehensive reports pertaining to the world's largest emerging markets. It further offers e-access to all the available industry reports just in a jiffy. By offering core business insights on the varied industries, economies, and end users worldwide, Avenue ensures that the registered members get an easy as well as single gateway to their all-inclusive requirements.
Avenue Library Subscription | Request for 14 days free trial of before buying: https://www.alliedmarketresearch.com/avenueTrial
Similar Reports We Have:
Construction Equipment Market - Global construction equipment market growing at a CAGR of 4.3% from 2020 to 2027.
Mining Equipment Market - Global mining equipment market is expected to reach $182,119 million by 2030, growing at a CAGR of 4.6% from 2021 to 2030.
Cranes Market - The cranes market size is expected to reach $41,186.63 million in 2027, growing at a CAGR of 4.8% from 2020 to 2027.
Tunnel Boring Machine Market - Global tunnel boring machine market is expected to reach $7,552.1 million by 2027, growing at a CAGR of 6.0% from 2020 to 2027.
Mining Drill Bits Market - Global mining drill bits market is projected to reach $1,711,800 thousand by 2026, growing at a CAGR of 5.1% from 2019 to 2026.
Pre-Book Now with 10% Discount:
Construction and Mining Equipment Market - Global Opportunity Analysis and Industry Forecast, 2020-2030.
About Allied Market Research:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
Contact us:
David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
Toll Free (USA/Canada): +1-800-792-5285,
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1-855-550-5975
help@alliedmarketresearch.com
Web: https://www.alliedmarketresearch.com
Follow Us on | Facebook | Twitter | LinkedIn
Logo: https://mma.prnewswire.com/media/636519/Allied_Market_Research_Logo.jpg
Share this article