IMARC Group has recently released a new research study “Mining Drills & Breakers Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, offers a detailed analysis of the market drivers, segmentation, growth opportunities, trends, and competitive landscape to understand the current and future market scenarios.
At 6.20% CAGR, Global Mining Drills & Breakers Market Size to Surpass US$ 21.2 Billion by 2027 | Industry Trends, Growth, Share, Opportunities, Statistics, Analysis & Forecast Report by IMARC
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.
What is a the Mining Drills & Breakers Market ?
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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What are the major 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.
The major players in the market Atlas Copco AB
Furukawa Co. Ltd.
and Soosan Heavy Industries Co. Ltd.
|Mining Drills & Breakers Market Report Scope|
|Market size value in 2021||US$ 14.63 Billion|
|Market forecast in 2027||US$ 21.2 Billion|
|Growth Rate||CAGR of 6.20% from 2022 to 2027|
|Base year for estimation||2021|
|Report coverage||Revenue Forecast, Company Ranking, Competitive Landscape, Growth Factors, and Trends|
|Segments covered||Type, Product, Application And Sales Channel|
|Regional scope||Asia Pacific, Europe, North America, Latin America, Middle East and Africa|
|Key companies profiled||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.|
|Market Dynamics||Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for forecast period,|
|Customization purview||If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.|
The report has been segmented the market into following categories:
Breakup by Type:
Breakup by Product:
- Rotary Drills
- Crawler Drills
- Rock Breakers
- Hydraulic Breakers
Breakup by Application:
- Metal Mining
- Mineral Mining
- Coal Mining
Breakup by Sales Channel:
- Original Equipment Manufacturer (OEM)
Breakup by End-Use Sector:
- 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.
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