IMARC Group, a leading market research company, has recently releases report titled “Mining Drills and Breakers Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global mining drills and breakers market report, growth, size, share, trends, and forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
Industry Overview of Mining Drills and Breakers
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.
How Big Is the Mining Drills and Breakers 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.
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What are the growth prospects and trends in the mining drills and breakers industry?
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.
What is included in market segmentation?
The report has segmented the market into the 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 Region:
- North America: (United States, Canada)
- Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
Who are the key players operating in the industry?
The report covers the major market players including:
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.
If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.
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