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Mining and Construction Drilling Tools Market Size

Report ID: GMI12431
Published Date: Nov 2024
Report Format: PDF

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Mining and Construction Drilling Tools Market Size

The global mining and construction drilling tools market size was valued at USD 13.6 Bn in 2023 and is estimated to grow at a CAGR of over 3.8% from 2024 to 2032. In the mining and construction sectors, automation is revolutionizing drilling operations. A significant growth trend is the rising adoption of automated drilling systems, robotic solutions, and AI-driven tools.

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These technologies aim to optimize drilling operations, lessen human intervention, and boost efficiency. Furthermore, automation plays a crucial role in reducing operational downtime, enhancing productivity, and achieving precise drilling even in harsh and challenging environments.

Mining and Construction Drilling Tools Market Report Attributes
Report Attribute	Details
Base Year:	2023
Mining and Construction Drilling Tools Market Size in 2023:	USD 13.6 Billion
Forecast Period:	2024 - 2032
Forecast Period 2024 - 2032 CAGR:	3.8%
2032 Value Projection:	USD 18.8 Billion
Historical Data for:	2021 - 2023
No. of Pages:	220
Tables, Charts & Figures:	180
Segments covered:	Product Type, Material, Application, End-Use, and Region
Growth Drivers:	Increasing demand for infrastructure development Technological advancements
Pitfalls & Challenges:	High initial costs

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Authors: Avinash Singh, Sunita Singh

Frequently Asked Questions (FAQ) :

The global mining and construction drilling tools industry was valued at USD 13.6 billion in 2023 and is estimated to grow at a CAGR of over 3.8% from 2024 to 2032, driven by the increasing adoption of automated drilling systems.

The drill bits segment recorded USD 4.4 billion in 2023 and is expected to grow at a CAGR of around 4.1% from 2024 to 2032 due to the complexity of terrains in mining and construction projects.

The U.S. mining and construction drilling tools market generated around USD 2.8 billion in 2023 and is projected to grow at a CAGR of about 3.9% from 2024 to 2032, supported by the robust mining industry producing essential minerals.

Key players in the industry include Atlas Copco AB, Boart Longyear Limited, Caterpillar Inc., Diamond Drilling Corporation of America, Epiroc AB, Furukawa Co. Ltd., Herrenknecht AG, Joy Global Inc. (now part of Komatsu Ltd.), Komatsu Ltd., and Massenza Drilling Rigs Srl.