Mining Drilling Services Market is Expected to Reach US$ 3.6 Billion by 2027 – IMARC Group

According to the latest report by IMARC Group, titled "Mining Drilling Services Market Size: Global Industry Trends, Share, Growth, Opportunity and Forecast 2022-2027," The global mining drilling services market size reached US$ 2.4 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 3.6 Billion by 2027, exhibiting a growth rate (CAGR) of 7.03% during 2022-2027.This report can serve as an excellent guide for investors, researchers, consultants, marketing strategists and all those who are planning to foray into the market in aany form.

Mining Drilling Services Industry Definition and Application:

Mining drilling services involve a range of drilling activities performed on a contract basis to extract various commodities, such as coal, metals, and minerals. Some commonly offered mining drilling services include mine exploration, development, production, and mine closure. They rely on mud motors, autonomous drills, and rotary steerable systems for logging-while-drilling (LWD) and measurement-while-drilling (MWD) operations. They aid in surface and underground blast hole drilling, cabling and dewatering, underground roof bolting, and body characterization. They also assist in enhancing the efficiency of mining operations and improving the safety of workers while offering precise depth tracking. As a result, mining drilling services are gaining immense traction in coal, quarry, mineral, and metal mining.

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Mining Drilling Services Market Trends and Drivers:

The increasing onshore and offshore oil exploration activities represent the primary factor driving the market growth. Additionally, the escalating energy demand across the globe has led to the widespread adoption of efficient mining drilling services in both developed and developing countries for the optimum extraction of oil and gas resources. In line with this, the shifting inclination toward low-emission energy and transportation systems across various industries has catalyzed market growth. This is further supported by the large-scale integration of automobile components that utilize mineral-based fuels instead of fossil fuels by automotive manufacturers to reduce carbon footprints.

Furthermore, the leading players are heavily investing in research and development (R&D) activities to introduce innovative product variants, such as automated and battery-operated drill rigs. Besides this, the rising adoption of directional drilling services that provide higher flexibility and minimal soil contamination, site restoration requirements, and geological abnormalities has propelled the market growth. Other factors, including the rapid expansion of the mining sector, surging coal production, escalating demand for precious metals, advancements in drilling technologies, and supportive government policies, are also creating a favorable market outlook. Looking forward, IMARC Group expects the market value to reach US$ 3.6 Billion by 2027, growing at a CAGR of 7.03% during 2022-2027.

Mining Drilling Services Market Segmentation:

The report has segmented the market on the basis on region and mining type.

Breakup by Mining Type:

• Metal
• Coal
• Mineral
• Quarry

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

Competitive Landscape

• Action Drill & Blast
• Baker Hughes
• Boart Longyear
• Byrnecut Group
• Halliburton Company
• Perenti Global Limited
• PT UNITED TRACTORS TBK
• Schlumberger Limited.

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