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Technological advancements such as the usage of more efficient drilling rigs, advanced diamond drill bit designs, and real-time monitoring systems are expected to drive the market growth. Technological advancements improve drilling efficiency and safety. Automated drilling systems reduce dependency on manual labor, improve operational efficiency, enhance safety and also allow operators to monitor and control tasks from a single location.
Data analytics and digitalization have also made its way into the diamond core drilling industry and deliver real-time data monitoring and analysis for better decision-making, predictive maintenance, and optimization of drilling parameters. Digital technologies such as artificial intelligence and machine learning are used to optimize drilling processes.
The stitch drilling segment accounted for a market share of about 52% in 2023, as this technique can be employed for longer-duration projects, making it well-suited in infrastructure development projects.
The market size of diamond core drilling reached USD 912 million in 2023 and is set to witness 4.7% CAGR between 2024 and 2032, backed by the rising demand for precious metals and minerals, along with increasing exploration & mining activities.
Albert Roller GmbH, Atlas Copco, Boart Longyear, Bosch, DUSS, Eibenstock, Epiroc AB, Fordia Group, Geomachine OY, Golz, and Hilti.
Asia Pacific market generated over USD 291 million revenue in 2023, attributed to the growing need for drilling machines across industries like mining and construction.