Mining Drills and Breakers Market Witness Steady Growth by 2025 at 7.4% CAGR

mining drills

Mining Drills and Breakers Market Growth, Share, Demand, Global Production with Revenue Share, and Applications Forecast to 2025

PORTLAND, OR, UNITES STATES, August 10, 2021 / -- Global mining drills and breakers market size was valued at $1,223.8 million in 2017, and is projected to reach $2,172.8 million by 2025, growing at a CAGR of 7.4% from 2018 to 2025. In 2017, Asia-Pacific dominated the global market, in terms of revenue, accounting for around 55.6% share of the global market, followed by LAMEA.

Factors such as expansion of underground and surface mining operations over the globe, increase in demand for underground mining equipment, and rise in mining activities for coal and metal drive the market growth. However, government regulations related to the mining operations restrain the market growth. Conversely, technological innovations such as sonic, infrared, IoT, and optical micro cameras and increase in investments in mining industries create new opportunities for growth of the market.

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Key players of the industry

Leading market players analyzed in the research include Boart Longyear, Caterpillar, Inc, Doosan Corporation, Energold Drilling Corp, Epiroc AB, Furukawa Co., Ltd., Geodrill Limited, Komatsu Ltd, Metso Corporation, and Sandvik AB. These market players have adopted various strategies including collaborations, joint ventures, partnerships, expansions, and others to gain a strong position in the industry.

Mining Drills And Breakers Key Market Segments:

By Machinery Type
• Drills
• Breakers

By Business
• Original Equipment(OE)
• After Sales

By Application
• Metal Mining
• Mineral Mining
• Coal Mining

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Asia-Pacific to be lucrative through 2025
Among regions, the market in Asia-Pacific grabbed more than half of the market share and is likely to dominate the market through 2025. It would also achieve the fastest CAGR of 8.0% during the forecast period. Asia-Pacific is estimated to be the largest and fastest growing market, owing to rapid growth of mining industries in countries, such as China, Australia, and India.

Key Findings Of The Study:

• In 2017, drills segment dominated the global mining drills and breakers market, in terms of revenue, and is projected to grow at a CAGR 7.5% during the forecast period.
• The after sales segment is projected to grow at a CAGR of 7.5% during the forecast period.
• Asia-Pacific is projected to register the highest growth rate in the coming years.

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David Correa
Allied Analytics LLP
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