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Blasthole Drills Market Share

Report ID: GMI12525
Published Date: Dec 2024
Report Format: PDF

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Blasthole Drills Market Share

Blasthole Drills Market Company Share Analysis, (2023)

In 2023, key companies like Komatsu, Caterpillar, Sandvik, Kennametal, and Epiroc held a combined market share of 35%-40%. These companies are actively engaging in mergers, acquisitions, facility expansions, and collaborations to enhance their product portfolios, reach more customers, and strengthen their market positions.

Manufacturers using IoT technologies, data analytics, and real-time performance monitoring in their blasthole drills gain a competitive edge. These innovations enable predictive maintenance, higher productivity, and precise drilling. Companies like Caterpillar and Komatsu, with their global service networks, play a crucial role in securing long-term customers. After-sales services, including training, technical support, and spare parts availability, are essential for customer satisfaction and loyalty.

Blasthole Drills Market Companies

Major players operating in the blasthole drills industry are:

Atlas Copco
Bauer
Caterpillar
Epiroc
Furukawa Rock Drill
Kennametal
KGR Rigs
KLR Universal
Komatsu
PRD Rigs
Revathi Equipment
Sandvik
Servotechnik
Taiye Drilling Machinery
Velson

Authors: Avinash Singh, Sunita Singh

Frequently Asked Questions (FAQ) :

The global market size for blasthole drills was valued at USD 2.5 billion in 2023 and is projected to reach USD 4 billion by 2032, driven by a CAGR of over 5.7% from 2024 to 2032.

The automatic segment held around 59% of the total market share in 2023 and is anticipated to grow at a CAGR of 6.1% from 2024 to 2032, driven by the increasing adoption of automation to boost productivity, safety, and cost efficiency.

The U.S. market was valued at USD 300 million in 2023 and is estimated to grow at a CAGR of over 4.8% from 2024 to 2032, driven by its strong mining industry and growing focus on rare-earth minerals and lithium.

Major players in the industry include Atlas Copco, Bauer, Caterpillar, Epiroc, Furukawa Rock Drill, Kennametal, KGR Rigs, KLR Universal, Komatsu, PRD Rigs, Revathi Equipment, and Sandvik.