Global Mining Drills and Breakers Market is expected to reach USD 17.03 billion by 2025. Mining equipment’s are the tools used in mining industry to carry out the work above or below ground to extract minerals. Minerals are naturally occurring inorganic elements. It is exclusively used for mining of crude oil, gold, coal, or metals. The equipment’s widely used for mining are grinding equipment, drilling machines, crushing machines, and excavators.
High demand for smart mining solutions as use of enhanced technology like data transmission through cloud networks and real-time monitoring of activities. The mining drills and breakers industry is estimated to grow at a significant CAGR over the future period as the scope and its applications are rising enormously across the globe.
Rising exploration around the world, availability of policy and measures to recover the mining sector, and rising use of latest technology like remote controlled or robotic equipment’s are documented as major factors of mining drills and breakers market that are estimated to enhance the growth in the years to come. However, drop in capital spending in mining industry is a factor that may restrain overall market growth in the upcoming years. Mining drills and breakers industry is segmented based on product type, application, and region.
Hydraulic breakers, rotary drills, rock breakers, crawler drills, and others could be explored in mining drills and breakers market in the forecast period. The rock breakers sector accounted for the largest market share of mining drills and breakers in terms of revenue and is estimated to lead the overall market in the coming years. This may be because of high demand for excavators and backhoe loaders, and due to growing mining activities.
The market may be categorized based on applications like coal mining, metal mining, mineral mining, and others that could be explored in foremost period. The metal mining sector accounted for the largest market share of mining drills and breakers and is estimated to lead the overall market in the coming years. This may be because of growing demand for metals like gold, steel, and aluminum and high demand from infrastructure & automobile development. However, coal mining is estimated to grow at fastest pace in the coming years.
Globally, Asia Pacific accounted for the largest market share of mining drills and breakers and is estimated to lead the overall market in the upcoming period. The reason behind the overall market growth could be availability of cost-efficient products, economic development, presence of key manufacturers, and growing automation of mining and construction processes. The developing countries like India and China are the major consumers of mining drills and breakers in this region. Instead, Europe is also estimated to have a positive influence on the future growth. Europe is the second largest region with significant market share.
The key players of mining drills and breakers market are Atlas Copco AB, Metso Corporation, Sandvik AB, Komatsu Ltd., and Caterpillar Inc. These players are concentrating on inorganic growth to sustain themselves amongst fierce competition. As companies all over the world have to believe that alliance with a market would permit them proportional market existence and authority to declare the leadership position.
Mining Drills & Breakers Product Outlook (Revenue, USD Million; 2014 - 2025)
• Rotary drills
• Crawler drills
• Rock breakers
• Hydraulic breakers
Mining Drills & Breakers Application Outlook (Revenue, USD Million; 2014 - 2025)
• Metal mining
• Mineral mining
• Coal mining
Mining Drills & Breakers Regional Outlook (Revenue, USD Million; 2014 - 2025)
• North America
• Asia Pacific
• Latin America
• Middle East & Africa
Research Support Specialist, USA