Global Spare Parts for Construction and Mining Drilling Rigs Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Spare Parts for Construction and Mining Drilling Rigs Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Market Overview:

The latest research study on the global Spare Parts for Construction and Mining Drilling Rigs market finds that the global Spare Parts for Construction and Mining Drilling Rigs market reached a value of USD 2554.42 million in 2022. It’s expected that the market will achieve USD 3130.02 million by 2028, exhibiting a CAGR of 3.44% during the forecast period.

Drivers

Construction and mining activities have increased in recent years, and new projects requiring surface drilling have been implemented, and this factor is the main driver of the contribution to the surface rig market growth over the forecast period. With the increase in the use of rigs in the construction and mining industry, and the rapid replacement of rig equipment, the development of the rig accessory market has been promoted.
The mine industry basically uses a more economical split rig, and the integrated rig and fully automatic integrated rig technology will definitely be the development trend of the industry because of its excellent performance in efficiency, energy saving, environmental protection and safety. At the same time, large-scale blasting mining in the mining industry is more conducive to economical and large-scale production, and it is also a future development trend.
Recently, rigs with the latest technology have been manufactured. These rigs have high performance and can meet the needs of the production cycle, and are expected to promote the growth of the rig market, which will promote the development of the rig accessory market.

Region Overview:

North America had the highest growth rate of all regions.

Company Overview:

National Oilwell Varco is one of the major players operating in the Spare Parts for Construction and Mining Drilling Rigs market, holding a share of 19.45% in 2019.

National Oilwell Varco is an American multinational corporation based in Houston, Texas. It is a leading worldwide provider of equipment and components used in oil and gas drilling and production operations, oilfield services, and supply chain integration services to the upstream oil and gas industry.

Vallourec S.A. is a multinational manufacturing company headquartered in Boulogne-Billancourt, Paris, France. Vallourec specializes in hot rolled seamless steel tubes, expandable tubular technology, automotive parts, and stainless steel, which it provides to energy, construction, automotive, and mechanical industries.

Segmentation Overview:

Among different product types, Rotary System segment is anticipated to contribute the largest market share in 2028.

Application Overview:

By application, the Construction segment occupied the biggest share from 2018 to 2022.

Key Companies in the global Spare Parts for Construction and Mining Drilling Rigs market covered in Chapter 3:

Hubei Longyu Machinery Co., Ltd.
Drilling Technologies Factory
Vallourec
Naseem Bukhari
Rig Source Inc.
Drill Rigs Spares
Evdanco OGC SRL
National Oilwell Varco
General Electric
Tratec
Forum Energy Technologies
Swedish Lorry Parts
Altifort Group
Triumph International LLC

In Chapter 4 and Chapter 14.2, on the basis of types, the Spare Parts for Construction and Mining Drilling Rigs market from 2018 to 2029 is primarily split into:

Lifting System
Rotary System
Circulatory System
Power System
Transmission System
Control System
Others

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Spare Parts for Construction and Mining Drilling Rigs market from 2018 to 2029 covers:

Construction
Underground Mine
Open-Pit Mines

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)