Global Drilling Machine Market Growth 2023-2029

Global Drilling Machine Market Growth 2023-2029

Drilling Machine is a complex machine consisting of a machine, a crew, and a mechanism. Drilling rigs are mechanical devices that drive drilling tools to drill underground and obtain physical geological data in the exploration or development of mineral resources such as solid ore, liquid ore and gas ore. Also known as drilling machine. The main role is to drive the drilling tool to crush the rock at the bottom of the hole, and to drill or raise the drill in the hole. It can be used to drill cores, cores, cuttings, gas samples, liquid samples in order to explore underground geological and mineral resources.

LPI (LP Information)' newest research report, the “Drilling Machine Industry Forecast” looks at past sales and reviews total world Drilling Machine sales in 2022, providing a comprehensive analysis by region and market sector of projected Drilling Machine sales for 2023 through 2029. With Drilling Machine sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world Drilling Machine industry.

This Insight Report provides a comprehensive analysis of the global Drilling Machine landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyzes the strategies of leading global companies with a focus on Drilling Machine portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms' unique position in an accelerating global Drilling Machine market.

This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Drilling Machine and breaks down the forecast by type, by application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global Drilling Machine.

The global Drilling Machine market size is projected to grow from US$ 15200 million in 2022 to US$ 20240 million in 2029; it is expected to grow at a CAGR of 20240 from 2023 to 2029.

First of all, increasing demand for Drilling Machine Market is expected to result in the growth of the market. Rapid industrialization in the Asia-Pacific region drives the demand of drilling machine in this region. Venezuela, Kuwait, Saudi Arabia, UAE, Canada, Iran and Iraq are to witness a significant growth over the forecast period owing to discovery of new oil reserves in these areas. Second, this industry research report identifies the exponential increase in the demand for fabricated metal products to be one of the major factors that will have a positive impact on the growth of this market in the coming years. This is because fabricated metals are mainly used in manufacturing and construction. The rise in demand for fabricated metals across the globe will boost the growth of the drilling equipment market. APAC is expected to witness rise in demand for drilling equipment, and China and South Korea is estimated to dominate this market in forecast period year.

This report presents a comprehensive overview, market shares, and growth opportunities of Drilling Machine market by product type, application, key manufacturers and key regions and countries.

Market Segmentation:

Segmentation by type
Portable Drilling Machine
Hand Drilling Machine
Sensitive Drilling Machine
Bench Drilling Machine
Upright Drilling Machine
Radial Drilling Machine
Gang Drilling Machine
Multiple Spindle Drilling Machine
Deep Hole Drilling Machine

Segmentation by application
Wood Working
Metal Working
Oil Well Drilling

This report also splits the market by region:
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries

The below companies that are profiled have been selected based on inputs gathered from primary experts and analyzing the company's coverage, product portfolio, its market penetration.
NewTech Drilling Products
GE(Baker Hughes)
Cheston
National Oilwell Varco
Halliburton
Atlas Copco
Torquado Drilling Accessories
DATRON
DMTG
DMG MORI
SMTCL

Key Questions Addressed in this Report

What is the 10-year outlook for the global Drilling Machine market?

What factors are driving Drilling Machine market growth, globally and by region?

Which technologies are poised for the fastest growth by market and region?

How do Drilling Machine market opportunities vary by end market size?

How does Drilling Machine break out type, application?

What are the influences of COVID-19 and Russia-Ukraine war?

Please note: The report will take approximately 2 business days to prepare and deliver.