PUBLISHER: IMARC | PRODUCT CODE: 1541634
PUBLISHER: IMARC | PRODUCT CODE: 1541634
The global rotary blasthole drilling rig market 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.
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.
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.
IMARC Group provides an analysis of the key trends in each sub-segment of the global rotary blasthole drilling rig market 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.
Large-range Drilling Rig
Mid-range Drilling Rig
Others
Electric
Diesel
Hybrid
Quarries
Open-Pit Mining
Others
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
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.