A new market research report by Future Market Insights on the diamond core drilling market includes a global industry analysis 2014–2018 and opportunity assessment 2019–2029. The report investigates the diamond core drilling market and provides critical insights for the forecast period of 2019-2029. As per the findings of the report, the global diamond core drilling market is projected to experience moderate growth over the forecast period, on the account of increasing mining and construction activities across the globe.
The global diamond core drilling market is projected to be valued at ~US$ 1.6 Bn in 2019, and is expected to increase at a CAGR of ~6% during the forecast period 2019-2029. This growth is majorly driven by the growing mineral production rate and rising construction industry worldwide.
As industries focus on ‘efficiency’, not only of cost but also of time and resources, two trends are likely to be the mainstay of the diamond core drilling market – Automation and Customization. The current stream of innovation in stitch, underwater, surface, and underground drilling is projected to advance with automation, as it will act as a twofer to suffice the dire need for safety and greater productivity for construction and mining operations.
East Asia Market to Gain Traction over the Forecast Period
Europe and South Asia regions are estimated to hold significant shares in the global diamond core drilling market. However, East Asian market is anticipated to witness lucrative growth in the global diamond core drilling market over the forecast period of 2019-2029. This growth is propelled by rapid development in the underground mining activities in countries such as China and Japan.
In view of steady economic conditions, the governments in East Asia are increasingly investing in mineral production, mining exploration, and construction and infrastructural activities. As a consequence, the construction industry of East Asia has gained a significantly positive momentum over the past years. This is expected to result in robust growth in the adoption of diamond core drilling in the East Asia region.
Manufacturers Inclined Towards the Development of Customized Products in Diamond Core Drilling Market
The global market of diamond core drilling has been segmented on the basis of different types considering the regions such as North America, Latin America, Europe, East Asia, South Asia, Oceania, and the Middle East and Africa.
- By operation type, the diamond core drilling market is segmented into handheld and rig operated. The rig operated segment is expected to hold a significant market value share in the global diamond core drilling market
- By drilling technique, the diamond core drilling market is segmented into four types such as stitch drilling, underwater diamond drilling, and surface drilling, and underground drilling. Stitch drilling segment is expected to consume a majority value share of the global diamond core drilling market. Whereas the surface drilling technique is expected to have healthy market share in overall forecast period
- By drilling type, the diamond core drilling market is segmented into rotary drilling and wireline drilling. The rotary drilling segment is expected to hold a high market share of the global diamond core drilling market in value as compared to wireline drilling
- Furthermore, on the basis of end users, the construction industry segment is expected to gain majority value share of the global diamond core drilling market. The mining industry segment is again classified into open pit mines and closed pit mines.
Diamond Core Drilling Market: Vendor Insights
The report highlights some of the market players in the global diamond core drilling market are Hilti Corporation, Atlas Copco (India) Ltd., WEKA Elektrowerkzeuge KG, Robert Bosch GmbH, Boart Longyear, Elektrowerkzeuge GmbH Eibenstock, MASSENZA Drilling Rigs Srl, Milwaukee Tool, Controls S.p.A., Epiroc Mining India Limited, KERN-DEUDIAM Diamantwerkzeuge und Maschinen GmbH, Shibuya Company, Ltd., APC Drilling & Constructions Private Limited, ROCKDRIL (INDIA), and Husqvarna AB.
The manufacturers of diamond core drilling motor are focusing on technological advancement, which is expected to increase the sales in the upcoming years.
The global diamond core drilling market is consolidated with some players holding prominent shares of the market. Top four market players is expected to hold the significant share in the global diamond core drilling market.
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