PUBLISHER: The Business Research Company | PRODUCT CODE: 1929399
PUBLISHER: The Business Research Company | PRODUCT CODE: 1929399
A surface drilling rig is a heavy-duty piece of equipment utilized in mining, construction, quarrying, and exploration activities to drill holes into the earth's surface. These rigs are equipped with advanced technology to operate effectively in rugged environments, ensuring precision, efficiency, and operator comfort during drilling operations.
The main types of surface drilling rigs are rotary drills and boom drills. Rotary drills utilize rotational motion to bore through surfaces efficiently, making them essential in surface drilling rigs for tasks such as exploration and construction. Various commodities, including limestone, granite, infrastructure materials, gold, copper, coal, iron ore, bauxite, and others, are involved in surface drilling operations. These rigs find applications in mining, quarrying, construction, and other industries.
Tariffs are impacting the surface drilling rig market by increasing costs of imported steel structures, hydraulic systems, engines, control electronics, and drilling components used in rotary and boom drills. Mining and construction operators in North America and Europe are most affected due to reliance on imported heavy equipment and components, while Asia-Pacific faces pricing pressure on export-oriented manufacturing. These tariffs are raising capital costs and delaying equipment replacement cycles. However, they are also encouraging localized manufacturing, regional supplier development, and investment in domestically assembled drilling rigs.
The surface drilling rig market research report is one of a series of new reports from The Business Research Company that provides surface drilling rig market statistics, including surface drilling rig industry global market size, regional shares, competitors with a surface drilling rig market share, detailed surface drilling rig market segments, market trends and opportunities, and any further data you may need to thrive in the surface drilling rig industry. This surface drilling rig market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The surface drilling rig market size has grown strongly in recent years. It will grow from $2.63 billion in 2025 to $2.77 billion in 2026 at a compound annual growth rate (CAGR) of 5.5%. The growth in the historic period can be attributed to expansion of mining and quarrying activities, growth in infrastructure construction projects, increasing demand for efficient drilling operations, availability of advanced hydraulic drilling technologies, rising investments in surface mining equipment.
The surface drilling rig market size is expected to see strong growth in the next few years. It will grow to $3.43 billion in 2030 at a compound annual growth rate (CAGR) of 5.5%. The growth in the forecast period can be attributed to increasing adoption of autonomous drilling solutions, rising demand for productivity optimization in mining, expansion of smart construction sites, growing focus on emission reduction in heavy equipment, increasing use of data-driven drilling optimization. Major trends in the forecast period include increasing adoption of automated and remote-controlled drilling rigs, rising demand for high-precision surface drilling equipment, growing integration of telematics and monitoring systems, expansion of fuel-efficient and low-emission drill rigs, enhanced focus on operator safety and comfort.
The growth of the surface drilling rig market is anticipated to be driven by the increasing demand for oil and gas. Oil and gas, crucial sources of energy for various industrial, commercial, and residential applications globally, are naturally occurring hydrocarbon compounds found underground. This sector is witnessing growth due to rising demand for transportation, electricity generation, heating, and industrial processes. Surface drilling rigs play a vital role in drilling wells to access underground hydrocarbon reserves and are utilized for exploration, production, and maintenance operations within the oil and gas industry. For instance, the International Energy Agency (IEA) projects global oil demand to reach 105.7 million barrels per day (mb/d) by 2028, reflecting a cumulative increase of 6% from 2022. Consequently, the escalating demand for oil and gas is fueling the expansion of the surface drilling rig market.
Major companies in the surface drilling rig market are developing new products, such as battery electric surface drilling rigs, to strengthen their competitive position. A battery electric surface drilling rig is a type of surface mining and quarrying equipment powered mainly by batteries, offering reduced emissions, lower noise, and flexible deployment without dependence on diesel engines or continuous tethered power. For example, in November 2023, Sandvik introduced its second battery electric concept surface drill rig capable of down-the-hole drilling up to 229 mm in diameter, combining battery autonomy with tethered cable endurance, providing up to one hour of battery-powered drilling, extended tramming capability, and simplified cable handling for flexible operations. This advanced concept rig highlights post-2023 momentum toward electrified surface drilling solutions that enhance sustainability and operational efficiency, although battery energy density and charging infrastructure continue to affect adoption timelines.
In July 2023, Epiroc AB acquired the assets of Schramm Inc. to bolster its presence in the surface mining industry. This strategic move expands Epiroc's product offerings, enhances its global infrastructure, and integrates Schramm's reverse circulation drilling technology into its portfolio. Schramm Inc., a US-based oilfield machinery manufacturing company, specializes in rotary drilling rigs, top-head drive drill rigs, and automated pipe handling systems.
Major companies operating in the surface drilling rig market are Caterpillar Inc., Komatsu Ltd., Atlas Copco AB, Sandvik AB, Epiroc AB, Boart Longyear Group Ltd., Vermeer Corporation, Sunward Intelligent Equipment Co Ltd., Drillmec Inc., Barkom Group Inc., Revathi Equipment Limited, Mobile Drill Operating Company LLC, Sinocoredrill Group Co Ltd., Terramac LLC, Gill Rock Drill Co Inc., Bohrmeister, Soilmec S P A, Furukawa Co Ltd, XCMG Group, Liebherr Group
Europe was the largest region in the surface drilling rig market in 2025. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the surface drilling rig market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the surface drilling rig market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain
The surface drilling rig market consists of sales of drill rigs, drill bits, drill pipes, downhole tools, telemetry systems, and safety equipment. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Surface Drilling Rig Market Global Report 2026 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses surface drilling rig market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for surface drilling rig ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward, including technological disruption, regulatory shifts, and changing consumer preferences? The surface drilling rig market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, total addressable market (TAM), market attractiveness score (MAS), competitive landscape, market shares, company scoring matrix, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
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