Underground Mining Diamond Drilling Market (Type - Rotary Drilling, and Wireline Drilling; Application - Hard Rock, and Soft Rock): Global Industry Analysis, Trends, Size, Share and Forecasts to 2025

A recent report published by Infinium Global Research on the underground mining diamond drilling market provides an in-depth analysis of segments and sub-segments in the global as well as regional underground mining diamond drilling market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional underground mining diamond drilling market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of the global underground mining diamond drilling market. According to the report, the global underground mining diamond drilling market is projected to grow at a CAGR of 5.7% over the forecast period of 2019-2025.

Market Insight

Underground mining diamond drilling extracts the core samples from the earth. It determines the structural strength of mineral composition for construction projects. Diamond coring bits are used in the exploration phase of the mining industry. In 2019, Epiroc acquired Fordia which is a manufacturer of exploration drilling tools. The acquisition strengthens the mining and drilling tools manufacturing of Epiroc.

The surge in demand for base metals such as nickel, copper, lead, and zinc led to a rise in investments in metal mining. The increased investments in metal mining augment the growth of the underground mining diamond drilling market. The growing demand for intelligent drill bits will augment the demand for underground mining diamond drilling. The development of clean coal technologies is one of the factors for the increased growth of the underground mining diamond drilling market. Clean coal technology reduces the negative impact of coal energy generation on the environment and mitigates climate change globally. In addition, diamond core drill bits are made from industrial strength diamonds and are not easily damaged. The reliability of diamond core drills is the reason for the leading demand for underground mining diamond drilling. On the other side, in underground mining, the mineral is extricated whereas the waste is deserted that evades the evacuation of waste shake which does not have any financial worth. This is one of the restraints for the growth of the market. Moreover, the research and development encourage innovative product launches creating several opportunities for the growth of the underground mining diamond drilling market.

North America is anticipated to hold the largest share in the global underground mining diamond drilling market. The rising investments in the underground mining industry in North America drive the growth of the underground mining diamond drilling market in North America. Asia-Pacific is expected to grow in the global underground mining diamond drilling market with a significant CAGR over the forecast period. Rapid development in the underground mining activities in countries such as Japan and China augment the growth of the underground mining diamond drilling market in Asia-Pacific.

Segment Covered

The report on the global underground mining diamond drilling market covers segments such as type and application. On the basis of type, the sub-markets include rotary drilling, and wireline drilling. On the basis of application, the sub-markets include hard rock, and soft rock.

Companies Profiled:

The report provides profiles of the companies in the market such as Atlas Copco AB, Zinex Mining Corp., Epiroc AB, Sandvik AB, Boart Longyear, Geomachine Oy, Wuxi Geological Drilling Equipment Co. Ltd., VersaDrill Canada, Sinocoredrill Group Co. Ltd., Indium Corporation, and other companies.

Report Highlights:

The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of the underground mining diamond drilling market. Moreover, the study highlights current market trends and provides forecast from 2019-2025. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.