The global mining drills & breakers market size is expected to reach USD 26.07 Billion by 2028 and register a revenue CAGR of 10.3%, according to the latest report by Reports and Data. Rising demand for energy- and cost-efficient underground mining equipment and increasing exploration activities are key factors expected to drive market growth over the forecast period. In addition, increasing investment in mining industries to expand research and development and to produce more efficient and safer mining equipment to enable more productive mining operations is another key factor expected to drive revenue growth of the market over the forecast period.
Mining drills and breakers are extraction equipment utilized for surface mining operations and to drill below the earth’s surface, while breakers are used to break large stones and rocks during the process. Drilling in mines is primarily to create blastholes for tunneling or mining purposes, but secondary goals can be to place bolts or facilitate exploration activities. Rapid advancements in high-performance drill heads has enhanced feasibility of mining machinery and this is expected to drive market growth over the forecast period. Increasing incorporation of Artificial Intelligence and automated solutions is a key trend major mining companies are following, and this is expected to continue over the forecast period.
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Rapid technological advancements in infrared, sonic drills, and optical micro cameras, and increasing adoption of IoT and automation across the mining industry is further expected to boost market revenue growth over the forecast period. However, stringent regulations regarding impact on the environment and increasing pollution caused by mining operations is expected to restrain market growth to a certain extent over the forecast period. Negative impacts such as erosion, sinkholes, and contamination of groundwater and surface water due to chemicals used or released during mining operations are expected to hamper market growth to a significant extent over the forecast period.
Major companies in the market include:
Komatsu Ltd., Caterpillar, Inc., Sandvik AB, Atlas Copco AB, Geodrill Ltd., Epiroc AB, Metso Corporation, and Boart Longyear Ltd., among others.
Some Key Highlights from the Report:
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For the purpose of this report, Reports and Data has segmented the global mining drills & breakers market based on product, end-use, and region:
Product Outlook (Revenue, USD Billion; 2018-2028)
Application Outlook (Revenue, USD Billion; 2018-2028)
Regional Outlook (Revenue, USD Billion; 2018-2028)
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