Mining Drilling Services Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027

Mining Drilling Services Market: Global Industry Trends, Share, Size, 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. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor.

Mining drilling services refer to the drilling operations carried out on a contractual basis for the extraction of coal, metals and minerals. They involve services for mine exploration, development, production and mine closure. These services are also used for body characterization, surface and underground blast hole drilling, underground roof bolting and cabling and dewatering. They use autonomous drills, rotary steerable systems and mud motors for logging-while-drilling (LWD), measurement-while-drilling (MWD) operations. Mining drilling services provide accurate and precise depth tracking and aid in improving the efficiency of mining operations and enhancing the safety of the workforce. As a result, they find extensive applications for mineral, coal, quarry and metal mining.

Mining Drilling Services Market Trends:
Significant growth in the mining industry across the globe, along with increasing off-shore and on-shore oil exploration activities, is one of the key factors creating a positive outlook for the market. To meet the growing energy requirements, both developed and emerging economies are increasingly adopting effective mining and drilling services to ensure optimum extraction of oil and gas resources. Moreover, widespread adoption of low-emission energy and transportation systems across industries is providing a thrust to the market growth. Automobile manufacturers are integrating components that use mineral-based fuels in place of fossil fuels to minimize the carbon footprints. In line with this, the increasing utilization of directional drilling services is also contributing to the growth of the market. These services offer enhanced flexibility and minimal site restoration requirements, soil contamination and geological abnormalities. Additionally, various advancements in the drilling technologies, such as the development of battery-operated drill rigs, are favoring the market growth. Other factors, including the implementation of favorable government policies, along with extensive research and development (R&D) activities, are anticipated to drive the market toward growth.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global mining drilling services market report, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on 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:
The competitive landscape of the industry has also been examined along with the profiles of the key players being Action Drill & Blast, Baker Hughes, Boart Longyear, Byrnecut Group, Halliburton Company, Perenti Global Limited, PT UNITED TRACTORS TBK and Schlumberger Limited.

Key Questions Answered in This Report:
How has the global mining drilling services market performed so far and how will it perform in the coming years?
What has been the impact of COVID-19 on the global mining drilling services market?
What are the key regional markets?
What is the breakup of the market based on the mining type?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the industry?
What is the structure of the global mining drilling services market and who are the key players?
What is the degree of competition in the industry?