Rotary Blasthole Drilling Rig Market Report by Type (Large-range Drilling Rig, Mid-range Drilling Rig, and Others), Power (Electric, Diesel, Hybrid), Application (Quarries, Open-Pit Mining, and Others), and Region 2024-2032
The global rotary blasthole drilling rigmarket size reached US$ 2.8 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 3.9 Billion by 2032, exhibiting a growth rate (CAGR) of 3.61% during 2024-2032.
Report Attribute
Key Statistics
Base Year
2023
Forecast Years
2024-2032
Historical Years
2018-2023
Market Size in 2023
US$ 2.8 Billion
Market Forecast in 2032
US$ 3.9 Billion
Market Growth Rate (2024-2032)
3.61%
A rotary blasthole drilling rig is a machine that creates holes in the surface of the earth. It is a massive structure housing equipment used to drill water, oil, and natural gas extraction wells. It is easy to install and relocate while allowing greater operational flexibility due to its lightweight modular design. It is self-propelled and equipped with computer operating systems to enhance productivity. It is more eco-friendly and generates lesser vibrations and noise compared to conventional drilling rigs. It is employed to install sub-surface fabrications, such as underground utilities, instrumentation, tunnels, or wells. It assists in drilling mud, controlling hole pressures, stabilizing the hole wall, and removing drill cuttings.
Rotary Blasthole Drilling Rig Market Trends:
At present, the growing utilization of rotary blasthole drilling rigs in rotary drilling at large quarries, open pit mines, petroleum extraction, and other fields represents one of the key factors driving the market. Besides this, rising construction activities in commercial and residential sectors across the globe, along with the expanding construction industry, are contributing to the growth of the market. In addition, the growing employment of diesel or gasoline-powered rotary blasthole drilling rigs to mine coal, gold, and other minerals is offering a positive market outlook. Moreover, the increasing demand for rotary blasthole drilling rigs in the mining sector due to their low cost and high operational speed is offering lucrative growth opportunities to industry investors. Apart from this, key players currently operating in the industry are extensively investing in research and development (R&D) activities to introduce autonomous rotary drill rigs for offering optimum mining output within a short timeline and with low labor costs. Additionally, governments of several countries are focusing on developing road and railway infrastructure, which is bolstering the growth of the market.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global rotary blasthole drilling rigmarket report, along with forecasts at the global, regional and country level from 2024-2032. Our report has categorized the market based on type, power and application.
Breakup by Type:
Large-range Drilling Rig
Mid-range Drilling Rig
Others
Breakup by Power:
Electric
Diesel
Hybrid
Breakup by Application:
Quarries
Open-Pit Mining
Others
Breakup by Region:
North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being Bauer AG, Caterpillar Inc., Epiroc AB, Komatsu Ltd., Liebherr Group, Nanchang Kamach Mining Co. Ltd., Sandvik AB, Schramm Inc. and Sunward Intelligent Equipment Co. Ltd.
Report Coverage:
Report Features
Details
Base Year of the Analysis
2023
Historical Period
2018-2023
Forecast Period
2024-2032
Units
US$ Billion
Segment Coverage
Type, Power, Application, Region
Region Covered
Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered
United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
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10-12 Weeks
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PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)
Key Questions Answered in This Report
The global rotary blasthole drilling rig market was valued at US$ 2.8 Billion in 2023.
We expect the global rotary blasthole drilling rig market to exhibit a CAGR of 3.61% during 2024-2032.
The increasing demand for rotary blasthole drilling rigs, as they are more eco-friendly and generate lesser vibrations and noise as compared to conventional drilling rigs, is primarily driving the global rotary blasthole drilling rig market.
The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across several nations, resulting in the temporary closure of numerous end-use industries for rotary blasthole drilling rigs.
Based on the type, the global rotary blasthole drilling rig market has been segmented into large-range drilling rig, mid-range drilling rig, and others. Among these, large-range drilling rig currently holds the majority of the total market share.
Based on the application, the global rotary blasthole drilling rig market can be divided into quarries, open-pit mining, and others. Currently, open-pit mining exhibits a clear dominance in the market.
On a regional level, the market has been classified into North America, Asia-Pacific, Europe, Latin America, and Middle East and Africa, where Asia-Pacific currently dominates the global market.
Some of the major players in the global rotary blasthole drilling rig market include Bauer AG, Caterpillar Inc., Epiroc AB, Komatsu Ltd., Liebherr Group, Nanchang Kamach Mining Co. Ltd., Sandvik AB, Schramm Inc., and Sunward Intelligent Equipment Co. Ltd.
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