Global Surface Drilling Rig Market Size study & Forecast, by Type (Rotary Drills, Boom Drills), by Application (Mining, Quarrying, Construction, Others), by Commodity (Gold, Copper, Coal, Iron Ore, Bauxite, Limestone, Granite, Infrastructure and Others),

Global Surface Drilling Rig Market Size study & Forecast, by Type (Rotary Drills, Boom Drills), by Application (Mining, Quarrying, Construction, Others), by Commodity (Gold, Copper, Coal, Iron Ore, Bauxite, Limestone, Granite, Infrastructure and Others), by Sales Type (New Sales, Aftermarket) and Regional Analysis, 2023-2030

Global Surface Drilling Rig Market is valued at approximately USD 2.2 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 4.8% over the forecast period 2023-2030. Industrial drills that are land-based and used to drill deep holes in the earth's crust are called surface drilling rigs. These drills' drilling heads pierce the earth’s surface while stationary on it. Surface drilling rigs are employed for a variety of tasks, including drilling boreholes for water wells, creating pile foundations, mine blasting, geotechnical studies and oil exploration. These drills are used in a variety of fields, including building, dimension stone, mining, and quarrying. Additionally, due to an increase in demand for quarry products such as stones, aggregates, sand, and other materials brought on by an increase in construction activities such as building and infrastructure projects, the surface drilling rig market has experienced substantial expansion over the past several years. Additionally, surface drilling rigs are frequently employed in the mining industry.

Surface drilling rig demand is being driven by an increase in demand for metals and minerals. Due to the increase in industrialization brought on by an economic expansion in many countries, minerals including copper, iron ore, gold, zinc, nickel, silver, bauxite, and other mineralsare highly demanded. According to the International Copper Association India, during the fiscal year 2022, the demand surged from 0.978 million tonnes in the fiscal year 2021 to 1.25 million tonnes in India in the year 2022.. The Silver Institute also claims that between 2021 and 2022, the demand for silver climbed by 17%. According to the Mineral Commodity summaries, the expected recoverable copper content of the output from U.S. mines in 2021 was 1.2 million tons, unchanged from that in 2020, and valued at USD 12 billion, up 58% from USD 7.61 billion in 2020. Moreover, For market participants, technological advancements in the surface drilling rig sector present opportunities. To reduce operating costs and increase safety during drilling operations, a number of surface drilling rig manufacturing businesses have been creating automated surface drilling rigs. However, the expansion of the surface drilling rig market is predicted to be constrained by elements such as high operating costs and carbon emission standards related to surface drilling rigs.

The key regions considered for the Global Surface Drilling Rig Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. Asia Pacific dominated the market in 2022. A sizable mining industry, which extracts bauxite, coal, manganese, iron ore, limestone, nickel, gold, zinc and other materials in nations such as China, Australia, and India, is responsible for this rise. In addition, the rapidly expanding population in nations such as China, India, Vietnam, and Indonesia are a significant driver of the expansion of the construction industry in this region. Also, Asia Pacific is expected to grow significantly during the forecast period. The regions quick economic development is having a significant impact on the development of the mining and construction industries, which is in turn helping the market for surface drilling rigs flourish.

Major market player included in this report are:
Arctic Drilling Company
Barkom Group Inc
Boart Longyear Group Ltd.
Epiroc AB
Gill Rock Drill Co., Inc.
Revathi Equipment Limited
Sandvik AB
Sunward Intelligent Equipment Co., Ltd.
Caterpillar Inc.
Komatsu Ltd.

Recent Developments in the Market:
 In March 2023, Epiroc AB. introduced both the radio remote SmartROC T25 R surface drilling rig and the top hammer SmartROC T40 rig for quarrying and construction. SmartROC T25 R and the top hammer SmartROC T40 rigs provide powerful and reliable drilling solutions that enhance productivity, safety, and operational efficiency.
 In September 2021, Sandvik AB, a manufacturer of high-tech surface drill rigs with headquarters in Sweden, introduced AutoMine® Surface Drilling AutoCycleto enhance the performance of automated surface drill rigs and mining machinery. Companies that already sell ""LeopardTM DI650i iDrill rigs"" can use the AutoMine®. It improves operational efficiency by reducing manual intervention, minimizing human errors, and streamlining drilling operations. This leads to increased productivity and cost savings for mining and construction companies using surface drill rigs.

Global Surface Drilling Rig Market Report Scope:
 Historical Data – 2020 - 2021
 Base Year for Estimation – 2022
 Forecast period - 2023-2030
 Report Coverage - Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
 Segments Covered – Type, Application, Commodity, Sales Type, Region
 Regional Scope - North America; Europe; Asia Pacific; Latin America; Middle East & Africa

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.

The detailed segments and sub-segment of the market are explained below:

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
By Region:

North America
U.S.
Canada

Europe
UK
Germany
France
Spain
Italy
ROE

Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC

Latin America
Brazil
Mexico

Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

Companies Mentioned
Arctic Drilling Company
Barkom Group Inc
Boart Longyear Group Ltd.
Epiroc AB
Gill Rock Drill Co., Inc.
Revathi Equipment Limited
Sandvik AB
Sunward Intelligent Equipment Co., Ltd.
Caterpillar Inc.
Komatsu Ltd.

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