Mining Drills & Breakers Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Mining Drills & Breakers Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Market Overview:

The global mining drills & breakers market size reached US$ 15.7 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 22.3 Billion by 2028, exhibiting a growth rate (CAGR) of 6.2% during 2023-2028.

Mining drills and breakers are mining equipment used to drill holes or crush rocks on the surface of a coalbed. These drills comprise an air compressor, rod changer, mast, rotatory head, dust ducting, and drill pipes, while breakers comprise chambers, side rods, main valve, front cap, and piston. They are used to extract new mineral deposits, such as clay, rock, limestone, sulfur, salts, and fertilizer minerals. They are also employed to obtain detailed information about rock types, rock fabric, mineral content, and the relationship between the rock layers and the surface.

Mining Drills & Breakers Market Trends:
At present, there is a rise in mineral exploration activities due to the presence of several mineral reserves across the globe. This, along with the burgeoning mining industry, represents one of the key factors driving the market. Besides this, the growing demand for efficient mining solutions and powerful equipment to withstand various challenges, such as water shortages, soil erosion, and loss of biodiversity, is offering a positive market outlook. In addition, key market players are extensively investing in research and development (R&D) activities to integrate advanced technologies in mining equipment, such as cognitive computing and artificial intelligence (AI). They are also focusing on offering enhanced efficiency, improved automation, and safer mining operations, which is positively influencing the market. Moreover, the increasing integration of the internet of things (IoT) technology in mining drills and breakers to provide services, such as purchase-to-pay automation and sensing techniques, is contributing to the growth of the market. Apart from this, the rising utilization of backhoe loaders and excavators for transportation of building material, construction, small demolitions, excavation, digging trenches and holes, breaking asphalt, paving roads, and land scaring is bolstering the growth of the market.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global mining drills & breakers market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on type, product, application and sales channel.

Breakup by Type:

Drills
Breakers

Breakup by Product:

Rotary Drills
Crawler Drills
Rock Breakers
Hydraulic Breakers
Others

Breakup by Application:

Metal Mining
Mineral Mining
Coal Mining

Breakup by Sales Channel:

Original Equipment Manufacturer (OEM)
Aftersales

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 Atlas Copco AB, Boart Longyear, Casagrande S.p.A., Caterpillar Inc., Doosan Corporation, Epiroc AB, Furukawa Co. Ltd., Geodrill Limited, Komatsu Ltd., Sandvik AB and Soosan Heavy Industries Co. Ltd.

Key Questions Answered in This Report

1. What was the size of the global mining drills & breakers market in 2022?
2. What is the expected growth rate of the global mining drills & breakers market during 2023-2028?
3. What are the key factors driving the global mining drills & breakers market?
4. What has been the impact of COVID-19 on the global mining drills & breakers market?
5. What is the breakup of the global mining drills & breakers market based on the type?
6. What is the breakup of the global mining drills & breakers market based on the product?
7. What is the breakup of the global mining drills & breakers market based on the application?
8. What is the breakup of the global mining drills & breakers market based on the sales channel?
9. What are the key regions in the global mining drills & breakers market?
10. Who are the key players/companies in the global mining drills & breakers market?