Market Research Report
Mining Drills and Breakers Market by Machinery Type (Drills and Breakers), Business (Original Equipment and Aftersales), and Application (Metal Mining, Mineral Mining and Coal Mining): Global Opportunity Analysis and Industry Forecast, 2021-2030
|Mining Drills and Breakers Market by Machinery Type (Drills and Breakers), Business (Original Equipment and Aftersales), and Application (Metal Mining, Mineral Mining and Coal Mining): Global Opportunity Analysis and Industry Forecast, 2021-2030|
Published: February 14, 2022
Allied Market Research
Content info: 267 Pages
Delivery time: 2-3 business days
The global mining drills and breakers market size was valued at $13,582.7 million in 2020, and is projected to reach $20,679.3 million by 2030, registering a CAGR of 4.1% from 2021 to 2030. Drills and breakers are mining machines that drill and crush rock to a specified depth. This procedure aids in the creation of open-pit mines and quarries where mining activity is expected to occur. One of the most important parts of a drill is the bit, which comes in a variety of sizes for drilling holes of various depths and diameters. Mining operations in essential product location are significantly affected by soil erosion, water shortages, biodiversity loss, and others. As a result, the demand for efficient mining solutions and strong equipment have increased.
The machine type consists of drills and breakers. There is a rise in demand for rock breakers as backhoe loaders and excavators become more popular in the market. Infrastructure development, as well as the rise in mining activity, both contribute to the segment's growth in the global market. Quarry operators have various options for selecting breakers matched to a specific application with the introduction of synchronized breakers, which provides a substantial advantage to manufacturers and customers. Manufacturers are now able to attach rock and hydraulic breakers with excavators due to the rise in demands for breakers. Rock breakers with better in-built operating features, which reduce time consumptions and increase safety and efficiency, are now being adopted by quarry operators.
Mining drills and breakers are utilized in application such as metal mining, mineral mining, and coal mining. Manufacturers are able to adapt current equipment to fulfil a variety of industrial needs with rise in demand for coal mining. However, the equipment and its parts are subjected to continual wear and tear during mining and excavation activities. Owning to green excavation efforts, companies have undergone major overhauls and are now providing after-sales services. For instance, in August 2021, Champion Iron signed an agreement with Caterpillar (CAT) of the U.S. for AI-powered drilling technology on Cat equipment at its Bloom Lake Mine in Canada. Champion anticipates that the agreement to help the mine improve operating productivity while lowering energy use.
The mining drills and breaker market is segmented on the basis of machine type, application, business, and region. On the basis of machine type, the market is categorized into drills and breakers. On the basis of application, it is fragmented into metal mining, mineral mining and coal mining. On the basis of business, it is categorized into original equipment and aftersales. On the basis of region, the market analysis is conducted across North America (the U.S., Canada, and Mexico), Europe (UK, France, Germany, Italy, and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and Rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa).
Key companies profiled in the mining drills and breaker market report include Boart Longyear, Caterpillar, Inc., Doosan Corporation, Atlas Copco AB, Epiroc AB, Furukawa Co., Ltd., GEODRILL Limited, Komatsu Ltd., Metso Outotec Corporation and Sandvik AB.