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Global Mining Drilling Services Market to Reach US$ 3.6 Billion by 2027, Fostered by Increasing Onshore and Offshore Oil Exploration Activities

Published on Nov 10, 2022

IMARC Group’s latest report, titled “Mining Drilling Services Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2022-2027,” finds that the global mining drilling services market reached US$ 2.4 Billion in 2021. Mining drilling services involve a range of drilling activities performed on a contract basis to extract various commodities, such as coal, metals, and minerals. Some commonly offered mining drilling services include mine exploration, development, production, and mine closure. They rely on mud motors, autonomous drills, and rotary steerable systems for logging-while-drilling (LWD) and measurement-while-drilling (MWD) operations. They aid in surface and underground blast hole drilling, cabling and dewatering, underground roof bolting, and body characterization. They also assist in enhancing the efficiency of mining operations and improving the safety of workers while offering precise depth tracking. As a result, mining drilling services are gaining immense traction in coal, quarry, mineral, and metal mining.

We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.                                          

Global Mining Drilling Services Market Trends:

The increasing onshore and offshore oil exploration activities represent the primary factor driving the market growth. Additionally, the escalating energy demand across the globe has led to the widespread adoption of efficient mining drilling services in both developed and developing countries for the optimum extraction of oil and gas resources. In line with this, the shifting inclination toward low-emission energy and transportation systems across various industries has catalyzed market growth. This is further supported by the large-scale integration of automobile components that utilize mineral-based fuels instead of fossil fuels by automotive manufacturers to reduce carbon footprints. Furthermore, the leading players are heavily investing in research and development (R&D) activities to introduce innovative product variants, such as automated and battery-operated drill rigs. Besides this, the rising adoption of directional drilling services that provide higher flexibility and minimal soil contamination, site restoration requirements, and geological abnormalities has propelled the market growth. Other factors, including the rapid expansion of the mining sector, surging coal production, escalating demand for precious metals, advancements in drilling technologies, and supportive government policies, are also creating a favorable market outlook. Looking forward, IMARC Group expects the market value to reach US$ 3.6 Billion by 2027, growing at a CAGR of 7.03% during 2022-2027.

Market Summary:

  • Based on the mining type, the market has been classified into metal, coal, mineral, and quarry.
  • Region-wise, the market has been segmented into North America (the United States and Canada), Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and the Middle East and Africa.    
  • The competitive landscape of the market has also been analyzed, with some of the key players being Action Drill & Blast (NRW Holdings Limited), Baker Hughes Group, Boart Longyear, Byrnecut Group, Halliburton Energy Services, Inc., Perenti Limited, PT UNITED TRACTORS TBK, and Schlumberger Limited.
     

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