Surface Drilling Rig Market By Type (Rotary Drills, Boom Drills), By Application (Mining, Quarrying, Construction, Others), By Commodity (Gold, Copper, Coal, Iron Ore, Bauxite, Limestone, Granite, Infrastructure, Others), By Sales Type (New Sales, Afterma

Surface Drilling Rig Market By Type (Rotary Drills, Boom Drills), By Application (Mining, Quarrying, Construction, Others), By Commodity (Gold, Copper, Coal, Iron Ore, Bauxite, Limestone, Granite, Infrastructure, Others), By Sales Type (New Sales, Aftermarket): Global Opportunity Analysis and Industry Forecast, 2023-2032

The surface drilling rig market was valued at $1,981.41 million in 2020, $2,228.5 million in 2022, and is estimated to reach $3,590.70 million by 2032, exhibiting a CAGR of 4.8% from 2023 to 2032. Moreover, the unit sold in 2020 were 2,872 units and is estimated to reach 4,870 units by 2032, exhibiting a CAGR of 4.3% from 2023 to 2032.

Surface drilling rig is an industrial machinery used for drilling holes on the land, deep down in the earth’s surface containing soft and hard rock. It is available in four types: rotary drill, and boom drill. The rotary surface drilling rig are commonly used for drilling holes, typically, down to a few meters. However, boom drills are used for drilling holes in walls of the mines, typically underground. These machineries are widely used in industries such as mining, construction, quarrying, and others.

The growing population across the world, especially in countries of Asia-Pacific such as China, India, Vietnam, and Indonesia, is driving the growth of the construction industry. This is driving the demand for various construction materials such as sand, stones, aggregate, and other quarry materials. This in turn, positively impacts the growth of the surface drilling rig market. Moreover, the surge in need for metals and minerals such as iron, coal, nickel, zinc, and others which are mined utilizing surface drill rigs along with many other mining equipment is also driving the surface drilling rig market growth. However, the high cost of operation, safety concerns, and carbon emissions restrain the market growth. In addition, gradual decline in the demand for coal is anticipated to have a negative impact on the market growth.

Furthermore, due to COVID-19, the surface drilling rig market witnessed a halt, which led to a small-term decline in the market. However, the market has fully recovered, as the number of COVID-19 cases dropped to a significant number.

Contrarily, the development of technologically advanced and automated surface drilling rigs is anticipated to provide lucrative growth opportunities to the key players in the market. The surface drilling rig market is segmented on the basis of type, application, commodity, sales type and region. By type, the market is categorized rotary drills, and boom drills.

By type, it categorized into rotary drills and boom drills. By application, it is divided into mining, quarrying, construction, and others. By commodity, the market is classified on the basis of gold, copper, coal, iron ore, bauxite, limestone, granite, infrastructure, and others. By sales type, the market is bifurcated into new sales, and aftermarket. Region wise, it is analyzed across North America (U.S., Canada, and Mexico), Europe (Germany, France, Italy, UK, and rest of Europe), Asia-Pacific (China, India, Japan, South Korea, and rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa).

Competition Analysis

Competitive analysis and profiles of the major players in the surface drilling rig market are provided in the report. Major companies in the report include, Arctic Drilling Company Oy Ltd, BARKOM GROUP, Boart Longyear Group Ltd., Epiroc AB, Gill Rock Drill Co., Inc., HARDAB AB, HAWE Hydraulik SE, Revathi Equipment Limited, Sandvik AB, Sunward Intelligent Equipment Co., Ltd., Caterpillar Inc., and Komatsu.

Key benefits for stakeholders

The report provides an extensive analysis of the current and emerging surface drilling rig market trends and dynamics. 
In-depth market analysis is conducted by constructing market estimations for the key market segments between 2022 and 2032.
Extensive analysis of the surface drilling rig market is conducted by following key product positioning and monitoring of the top competitors within the market framework.
A comprehensive analysis of all regions is provided to determine the prevailing opportunities.
The global surface drilling rig market forecast analysis from 2023 to 2032 is included in the report.
Key market players within the surface drilling rig market are profiled in this report and their strategies are analyzed thoroughly, which help understand the competitive outlook of the surface drilling rig industry.

Key Market Segments

By Sales Type

New Sales
Aftermarket

By Type

Rotary Drills
Category
DTH
Others
Boom Drills
Category
DTH
TH

By Application

Mining
Quarrying
Construction
Others

By Commodity

Limestone
Granite
Infrastructure
Others
Gold
Copper
Coal
Iron Ore
Bauxite

By Region

North America
U.S.
Canada
Mexico
Europe
Germany
France
UK
Italy
Rest of Europe
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
LAMEA
Latin America
Middle East
Africa
Key Market Players
Arctic Drilling Company Oy Ltd.
BARKOM GROUP
Boart Longyear Group Ltd.
Caterpillar Inc.
Epiroc AB
Gill Rock Drill Co., Inc.
HARDAB AB
HAWE Hydraulik SE
Komatsu Ltd.
Revathi Equipment Limited
Sandvik AB
Sunward Intelligent Equipment Co., Ltd.

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