Diamond Core Drilling Market

2021 Analysis and Review: Diamond Core Drilling Market by Drilling Type – Rotary Drilling and Wireline Drilling for 2021-2031

Diamond Core Drilling Market Snapshot

According to Future Market Insights (FMI), the global diamond core drilling market will witness healthy growth at 6% CAGR, surpassing market value of US$ 1.8 Bn. Sales of diamond core drilling are expected to increase as key manufacturers extensively focus on product customization and automation.

As per the report, the market is expected to register healthy year-on-year (YoY) growth of 5.2%, with shipments forecast to top 42,000 unit by 2031.

Key Points Covered in Diamond Core Drilling Market Study

  • Market estimates and forecast 2021-2031
  • Key drivers and restraints impacting market growth
  • Segment-wise, Country-wise, and Region-wise Analysis
  • Competition Mapping and Benchmarking
  • Brand share and Market Share Analysis
  • Key Product Innovations and Regulatory Climate
  • COVID-19 Impact on Diamond Core Drilling Market and How to Navigate
  • Recommendation on Key Winning Strategies

Diamond Core Drilling Market Analysis from 2016 to 2020 Vs Demand Outlook for 2021 to 2031

As per Future Market Insights (FMI), over the last 5 years the global diamond core drilling market expanded at a steady CAGR of 4%, clocking a valuation exceeding US$ 1.6 Bn by 2020.

With increasing construction and mining activities worldwide, demand for diamond core drilling machines increased by 2%, registering growth at healthy 6% CAGR through 2021 & beyond.

Need for customization and automation among end-users have paved the way for novel automated rig-operated drilling machines to enhance productivity. Growth prospects were downplayed with the outbreak of COVID-19, as supply-chain dynamics experienced disruptions in FQ-20.

Halt in production and mining activities resurfaced amidst the outbreak of the second wave, especially in developing nations such as India, which impacted the market negatively. However, thanks to the commencement of vaccination drive, market is expected to witness growth over the coming years as mining and construction activities will gain traction.

Alongside this, favorable government policies to improve infrastructure in East Asia will significantly aid the growth of diamond core drilling machines, especially in China, India, and Japan.

According to Future Market Insights, with increasing mineral production rate across the globe, sales of diamond core drilling machines are expected to spur, reaching a shipment of 42,000 units by 2031-end.

Will Growing Mineral Production Rate Worldwide Aid the Market Growth?

Growing mineral production activities across the globe is projected to aid the growth of mining equipment in the global market. According to World Mining Data report, the global mineral production rose to 17.7 Bn metric tons in 2020 from ~16.9 Bn metric tons in 2016.

With India producing over 95 minerals annually, demand for automated rig-operated drilling machines is expected to bolster the market growth over the coming years. Also, underground mining activities to increase the mineral production rate, especially across the U.S. and Germany, the adoption of drilling machines will increase.

Moreover, expansion of mining industry across developing economies such as India, China, and Japan is increasing the production of materials such as diamond, coal, tin, copper and other minerals. This will spur the growth of underground mining segment, driving the demand for diamond core drilling machines.

What are the Factors Restraining the Growth of Diamond Core Drilling Market?

With need for technological advancements in the growing construction and mining industry, key manufacturers of diamond core drilling machines are incorporating cutting-edge technologies.

High cost of these automated and customized drilling machines is expected to act as an entry barrier for the new players in the market. Additionally, expansion of underground mining activities is resulting in increased rate of fatalities and illness among the workers.

Due to the growing rate of accidents and fatalities in the mining industry, production and work efficiency is affected, indirectly affecting the sales. Workers in developing economies due to rising rate of illness are hesitating to work, which has increased the demand for automation in the mining industry.

Precision and efficiency achieved with the help of hand-held drilling machines is not the same as with rig-operated drilling machines.

Country-wise Insights

What is the Demand Outlook in the U.S. Market?

With North America accounting for over 21% of global diamond core drilling market share, the U.S. is anticipated to dominate the market, estimates FMI. Given the high adoption of drilling machines in the U.S. construction industry, the market is expected to register healthy growth during the forecast period.

Adoption of technologically advanced and automated drilling machines to improve the infrastructure will accelerate the demand. The U.S. is the world’s second leading producer of coal, accounting for nearly 17% of world production, as per National Mining Association.

With increasing mining activities in the country, demand for automated drilling machines is expected to increase in the coming years. Every year around 1 billion tons of coal is produced in the U.S.

New polling released by National Mining Association finds that production of raw minerals and materials is expected to increase in the next ten years to improve the country’s infrastructure. With rising application of diamond core drilling machines in mining industry, sales are expected to increase in the forthcoming years.

What is Driving Diamond Core Drilling Market Growth in India?

India is home to 1,531 operating mines and produces 95 minerals every year, as per Make In India report. Increasing underground mining activities and production of minerals across the country is expected to bolster the growth of diamond core drilling market.

With unprecedented outbreak of COVID-19, construction and mining industry suffered major loss which directly impacted the sales of diamond core drilling market. However, with slight relaxations in lockdown restrictions and resumption of construction and mining industry, the market is expected to witness positive growth outlook.

Despite the halt in construction and production activities, coal production in India increased by 7.4% in June 2021 over June 2020 and is expected to increase over the coming years. With surging mining activities across India, adoption of diamond core drilling machines will increase.

Alongside this, presence of steel and coal companies in India is expected to bolster the adoption of diamond core drilling machines, spurring sales. Favourable government policies to improve the infrastructure and increase mineral production rate will aid the market growth.

For instance, in June 2021, Energy Efficiency Services Ltd (EESL) signed a memorandum of understanding (MoU) with MECON Ltd. to support energy efficiency in steel, mining industry. Also, government reduced customs duty to 7.5% to provide relief to medium and small sized industries.

These initiatives are expected to aid the adoption of rig-operated drilling machines which are efficient but expensive. Furthermore, increasing construction activities across India to improve the infrastructure in rural areas will spur the growth of diamond core drilling market.

According to National Investment and Promotional Agency report, real estate industry in India is expected to reach US$ 1 Tn by 2030 and contributes to 13% of gross domestic product (GDP). With increasing construction activities and demand for automated drilling machines from construction industry, sales of diamond core drilling machines are expected to increase.

How Big is the Opportunity in China?

China is estimated to hold significant shares in diamond core drilling market, opines Future Market Insights. Rapid development in the underground mining activities across China will propel the demand.

Advent of COVID-19 halted the production and mining activities in the country, which affected the sales of diamond core drilling machines significantly. However, with the commencement of vaccination drive across the globe, economic conditions are steady in China.

Recommencement of construction and mining industry is expected to turn the growth of diamond core drilling market in upward trajectory. To recover from the economic loss, government in China is increasingly investing in mineral production, construction, and infrastructural activities.

Rising construction and infrastructural activities, albeit with all the safety protocol against COVID-19, is expected to directly impact the sales of diamond core drilling machines.

How is Germany Leading the Europe’s Diamond Core Drilling Market?

As per Future Market Insights, Germany is expected to spearhead the growth of Europe’s diamond core drilling market. Growth is attributed to the presence of leading players in the region.

Technological advancement in the automation industry is expected to spur the growth over the coming years. Recommencement of construction and mining industry in the country will increase the adoption of diamond core drilling machines, increasing the production.

Increasing mineral production across developing nations such as India, China, and Japan have improved the manufacturing of drilling machines. Increasing export and production of automated and customized drilling machines will drive the market growth across Germany.

Germany remains an important mining country within Europe. Majority of mineral resources mined in the country are diamond, hard coal, and crude oil. According to the report of Thomson Reuters Practical Law, Germany is one of the largest producers of mineral resources across the globe.

With increasing application of diamond core drilling machines in mining industry across Germany, growth is expected to bolster over the coming years.

Category-wise Insights

Why is Stitch Drilling Technique Acquiring Popularity?

Stitch drilling is one of the most significant drilling techniques used by the contractors and end-users in construction and mining industries. Implementation of stitch drilling techniques provides high precision and efficiency even in inaccessible areas.

Diamond drilling can easily be accomplished with the help of stitch drilling technique as it is crucial for creating precise and bigger opening. It is an excellent option for confined spaces and is considered as one of the most indispensable drilling technique.

According to Future Market Insights, stitch drilling segment is expected to consume a majority value share of the global diamond core drilling market.

Will Rig-Operated Diamond Core Drilling Machines Gain Popularity over Handheld Machines?

With increasing fatalities during the mining across the globe, governments in numerous countries are pushing the industrialists in construction and mining industry to improve safety.

According to International Labor Organization, over 1 million work-related deaths occur annually worldwide from accidents and occupational exposure to hazardous substances. Due to stringent safety regulations for underground and surface mining, rig operated drilling machines are gaining popularity among workers.

Besides the workplace safety norms, automation and customization in rig operated drilling machines is increasing their adoption within end-use industries. Additionally, improved quality and enhanced drilling capability with precision is furthering the adoption.

However, due to high cost barrier, hand-held operated drilling machines sales are expected to outgrow that of rig-operated machines in developing economies.

Which are the Key Areas of Application of Diamond Core Drilling?

In terms of end-use, construction industry will exhibit highest growth rate during the forecast period. Growth is driven by increasing building innovation and government-proposed policies and plans to connect rural areas to urban in developing economies.

Increased spending on building and infrastructure by government in developing nations such as India and China are expected to create growth opportunities for manufacturers in upcoming years.

However, with an upsurge in mineral production rate, application of diamond core drilling in mining industry, especially in developing nations, will spur the sales. Increase in the demand for minerals such as diamond, gold, zinc, lead, and uranium will continue to aid the adoption of diamond core drilling machines.

Consequently, as reused diamond core drilling machines offer huge cost-benefits, end users are hesitating to invest heavily in brand new machines. Due to this, manufacturers of diamond core drilling machines are compelled to integrate advanced technology and customization to generate sales.

With surging application of automated diamond core drilling machines in mining industry, sales are expected to increase in the forthcoming years. As per FMI, open pit mines segment is expected to lead the market, growing at over 6.1% CAGR during the forecast period.

Competitive Landscape

The global diamond core drilling market represents a consolidated competition landscape with key players focusing on acquisitions and product launches. Surging application within construction industry is expected to provide lucrative growth opportunities for key players.

As per Future Market Insights, Bogart Longyear and Hilti Corporation are dominating the global market, accounting for 7% and 3% of market share, respectively. Technological advancement and dire need of automation in the industry has compelled the key players to come with new product launches, spurring sales.

Following the outbreak of COVID-19, with new relaxation in emerging economies, manufacturers are announcing new exploration programs to increase their production capabilities and sales.

For instance, in June 2021, Adyton Resources Corporation announced the launch of its drilling program for its Feni Island Copper Gold Project, which hosts a number of spectacular targets such as Simberi, Lihir, and Panguna gold and copper projects. The program at Feni Island is planned to comprise approximately 10 diamond drill holes for 3,000 meters, with the first holes expected to average around 500 meters each.

Another player, Hanstone Gold Corporation, in July 2021, announced the commencement of its HQ diamond core drill rig set up on its high grade Doc property located in British Columbia’s mining district known as Golden Triangle.

Scope of Report

Attribute

Details

Forecast Period

2021-2031

Historical Data Available for

2016-2020

Market Analysis

USD Million for Value

Key Regions Covered

North America, Latin America, Europe, Europe, East Asia, South Asia, Oceania, and Middle East & Africa (MEA)

 

Key Countries Covered

US, Canada, Germany, U.K., France, Italy, Spain, Russia, China, Japan, South Korea, India, Thailand, Malaysia, Indonesia, Australia, New Zealand, GCC Countries, Turkey, Northern Africa, and South Africa

Key Segments Covered

Operation type, Drilling type, Drilling technique, End Use, and Regions

Key Companies Profiled

  • Hilti Corporation
  • Atlas Copco
  • 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)
  • Husqvarna AB
  • Others

Report Coverage

Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives

Customization & Pricing

Available upon Request

Key Questions Answered in the Report

  • What is the current diamond core drilling market value?

    The diamond core drilling market is expected to surpass a valuation of US$ 1.8 Bn in 2021

  • At what rate did the diamond core drilling market grow between 2016 and 2020?

    The diamond core drilling market witnessed positive growth at over 4% CAGR between 2016 and 2020.

  • What are the key trends driving diamond core drilling sales?

    Sales of diamond core drilling are expected to soar as manufacturers focus on customized and automated drilling to cater surging demand within construction industry.

  • Who are the leading players of diamond core drilling?

    Hilti Corporation, Epiroc AB, Bogart Longyear, Robert Bosch GmbH and Husqvarna AB are the top players leading the diamond core drilling market.

  • What will be the demand outlook for North America diamond core drilling market?

    Demand for diamond core drilling across North America is projected to rise at a steady pace with 4% CAGR during the forecast period.

  • At what rate is Europe’s diamond core drilling market projected to grow during forecast period?

    Sales of diamond core drilling across Europe are set to rise at nearly 7.6% CAGR during 2021 and 2031.

  • Which are the top countries driving the diamond core drilling market demand?

    According to Future Market Insights, the U.S., NORDICS, Germany, and Japan are the key producers of global diamond core drilling market.

  • What is the market share of leading players in diamond core drilling market?

    Leading players of global diamond core drilling market is expected to contribute around 13.6% of total market share.

  • What is the current market share of Japan and South Korea in the global diamond core drilling market?

    South Korea and Japan, collectively, will account for over 5% of global diamond core drilling market share in 2021.

Diamond Core Drilling Market by Category

By Operation Type:

  • Hand Held
  • Rig Operated

By Drilling Technique:

  • Stitch Drilling
  • Underwater Diamond Drilling
  • Surface Drilling
  • Underground Drilling

By Drilling Type:

  • Rotary Drilling
  • Wireline Drilling

By Region:

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia
  • Oceania
  • Middle East & Africa

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