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GLOBAL ROTARY BLASTHOLE DRILLING RIG MARKET FORECAST 2024-2032

SCOPE OF THE REPORT

Global Rotary Blasthole Drilling Rig Market by Type (Large-range Drilling Rig, Mid-range Drilling Rig, Other Types) Market by Application (Quarries, Open-pit Mining, Other Applications) by Geography

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MARKET OVERVIEW

The global rotary blasthole drilling rig market is forecasted to grow at a CAGR of 4.16% during the forecast period 2024-2032. 

Rotary blasthole drill rigs are instrumental in excavating holes in the earth, enabling the strategic placement of explosives for efficient rock clearing in mining operations. Renowned for their accuracy and depth, these rigs substantively enhance productivity by simplifying and optimizing blasthole drilling processes, thereby reducing costs. Alongside surface mining drill rigs, an extensive range of underground drill rigs is also available, meeting the stringent safety and logistical demands unique to underground mining operations.

The rotary blasthole drilling market prospers as these specialized rigs revolutionize mining efficiency, ensuring precision in creating blastholes for effective rock removal. With a comprehensive range of surface and underground drilling rigs available, this market provides diverse mining needs, promoting safety, productivity, and cost-effectiveness in mining operations globally.

Rotary Blasthole Drilling Rig Market

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GROWTH ENABLERS

Key growth enablers of the global rotary blasthole drilling rig market:

  • Innovation in drilling rig technology
  • Increasing demand for minerals and metals across industries
    • According to the International Energy Agency (IEA), the increasing adoption of clean energy technologies is positioned to significantly boost the need for essential minerals. As the world shifts towards renewable energy sources like solar, wind, and electric vehicles, these technologies rely heavily on specific minerals and metals such as lithium, cobalt, nickel, rare earth elements, and others. Further, these critical minerals are integral components in batteries, solar panels, and various components of clean energy systems.
    • The demand for minerals in the context of clean energy technologies is projected to see a considerable increase by 2040, with electric vehicles (EVs) and battery storage systems emerging as substantial drivers. It is anticipated that approximately half of the growth in mineral demand within the clean energy sphere will stem from these specific areas. This upsurge in demand is primarily powered by the escalating need for materials used in batteries used in electric vehicles.
    • Electricity networks stand as a significant catalyst, responsible for 70% of the mineral demand stemming from energy technologies in the year 2023.
  • Surge in application in infrastructural projects

GROWTH RESTRAINTS

Key growth restraining factors of the global rotary blasthole drilling rig market:

  • Technological complexity and high cost of advanced drilling technologies
  • Compliance with the safety standards in the mining industry
  • Hazards associated with mining activities
    • The heavy machinery involved in drilling operations sets risks of equipment malfunctions, unexpected movements, or structural failures, leading to serious injuries or fatalities if proper safety protocols are not followed.
    • Additionally, the drilling process generates noise, vibrations, and dust, exposing workers to health risks such as hearing loss, respiratory problems, and musculoskeletal disorders.
    • According to the World Health Organization (WHO), lead exposure from soil and dust contaminated with lead in battery recycling and mining activities has led to widespread lead poisoning, resulting in multiple fatalities among young children in nations such as Nigeria and Senegal, among others.

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KEY MARKET TRENDS

Global Rotary Blasthole Drilling Rig market | Top Market Trends

  • Remote monitoring and control systems have become increasingly meaningful, enabling the streamlined supervision of drilling activities from distant locations, thereby improving the flexibility and cost-efficiency of operations. Likewise, XCMG in China achieved successful testing of its XKY270E rotary blasthole rig in September 2023. This rig marks a significant milestone as it is touted as China’s inaugural ‘intelligent’ surface mining drill rig with remote control capabilities. This development underscores the market’s trend towards integrating advanced technology, exemplified by the introduction of innovative, remotely operable rigs aimed at enhancing operational efficiency and control.
  • The rotary blasthole drilling rig market is witnessing a trend toward embracing sustainable solutions, notably the adoption of electric-powered machinery. This shift reflects a collective industry effort to curtail environmental impact and operational emissions. Sandvik Mining & Rock Solutions recently introduced a pioneering development within this course by launching a fully electric concept rig based on their compact CommandoTM DC300Ri top hammer drill rig. This innovation represents a major step towards sustainability in the rotary blasthole drilling rig market. Sandvik’s initiative demonstrates the ongoing trend of transitioning to electric-powered equipment, aligning with the market’s commitment to eco-friendly practices and a decrease in carbon footprints.

MARKET SEGMENTATION

Market Segmentation – Type and Application –

Market by Type: 

  • Large-Range Drilling Rig
    • Large-range drilling rigs are heavy-duty rigs designed for excavating larger-diameter blastholes at greater depths. Designed to meet the needs of mining operations requiring extensive drilling capabilities for larger-scale excavation, these rigs typically feature powerful engines, increased torque, and robust drilling mechanisms. They are capable of boring holes ranging from several inches to over a foot in diameter, penetrating deep into the earth to access valuable mineral deposits.
    • As mining operations explore deeper reserves, the need for larger and more powerful drills capable of reaching greater depths becomes essential. Large-range drills are equipped to handle deeper drilling requirements efficiently.
    • When mining projects involve bulk excavation or larger-scale operations, large-range drills prove more cost-effective due to their ability to cover more ground and handle extensive drilling needs in a shorter time frame.
  • Mid-Range Drilling Rig
  • Other Types

Market by Application:

  • Quarries
    • Quarries refer to specific mining operations focused on extracting stone, rock, aggregates, minerals, and construction materials from open-pit excavations. These sites are typically smaller in scale compared to large-scale open-pit mines and are often closer to urban areas or construction projects where the extracted materials are utilized.
    • The increasing demand for construction materials due to urbanization and infrastructure development stimulates the growth of quarries. These quarries provide materials like aggregates, limestone, and granite for construction projects, road building, and infrastructure expansion.
    • Quarry products are versatile and utilized in various applications such as concrete production, road construction, landscaping, and building materials. The versatility of materials extracted from quarries increases their demand and market growth.
  • Open-Pit Mining
  • Other Applications

GEOGRAPHICAL STUDY

Geographical Study based on Four Major Regions: 

  • North America – The United States and Canada
  • Europe – The United Kingdom, France, Germany, Spain, Italy, and Rest of Europe
  • Asia-Pacific – China, Japan, India, South Korea, Indonesia, Australia & New Zealand, and Rest of Asia-Pacific
    • According to Fitch Ratings, there’s an anticipated sustained increase in China’s demand for aluminum in 2024, buoyed by a more robust growth projection of 3.7% in 2023 than initially anticipated. The expected rise in aluminum demand signifies heightened industrial and construction activities, indicating an increased need for raw materials and the expansion of infrastructure projects. In mining operations, aluminum is a crucial component for various applications, driving the necessity for efficient drilling equipment like rotary blasthole drill rigs to facilitate the extraction of materials essential for aluminum production.
    • India is expected to spearhead the upsurge in demand for metallurgical coal, which is important in achieving market equilibrium in 2024. The envisaged leadership in demand growth for metallurgical coal by India hints at substantial developments in its industrial and manufacturing sectors. Metallurgical coal, crucial for steel production, is integral to various industries, including construction, infrastructure, and manufacturing.
    • The Philippines has taken strides to boost its infrastructure by inviting foreign investment and allowing foreign ownership of utilities. With the Philippines Development Plan prioritizing modernization, a substantial portion, equating to 5.6% of the GDP, has been earmarked for infrastructure.
  • Rest of World: Latin America, the Middle East & Africa

MAJOR PLAYERS

Major players in the global rotary blasthole drilling rig market:

  • Bauer AG
  • Caterpillar Inc
  • Epiroc AB
  • Furukawa Co Ltd
  • Komatsu Ltd

Key strategies adopted by some of these companies:

  • Epiroc, in March 2022, launched the DM30 XC blasthole drill, personalized to handle a range of multi-pass rotary and down-the-hole (DTH) drilling requirements across multiple applications.
  • Hexagon’s Mining division entered into an exclusive partnership deal with Phoenix Drill Control on autonomous drill technology in February 2022.
  • Sandvik, in June 2021, has entered into an acquisition deal to purchase Tricon Drilling Solutions Pty Ltd, a privately-owned provider of rock tools serving the mining sector and headquartered in Perth, Australia. Following the acquisition, Tricon will function as a separate, autonomous business entity under the Rock Tools division within Sandvik Mining and Rock Solutions.

REPORT SYNOPSIS

REPORT SCOPEDETAILS
Market Forecast Years2024-2032
Base Year2023
Market Historical Years2018-2022
Forecast UnitsRevenue ($ Million)
Segments AnalyzedType and Application
Geographies AnalyzedNorth America, Europe, Asia-Pacific, and Rest of World
Companies AnalyzedBauer AG, Caterpillar Inc, Epiroc AB, Furukawa Co Ltd, Komatsu Ltd, Sandvik AB, Schramm Inc, Sunward, Atlas Copco, Kaiser AG, Hyundai Everdigm, TAIYE Drill
TABLE OF CONTENTS
  1. RESEARCH SCOPE & METHODOLOGY
    1. STUDY OBJECTIVES
    2. METHODOLOGY
    3. ASSUMPTIONS & LIMITATIONS
  2. EXECUTIVE SUMMARY
    1. MARKET SIZE & ESTIMATES
    2. MARKET OVERVIEW
    3. SCOPE OF STUDY
    4. CRISIS SCENARIO ANALYSIS
      1. IMPACT OF COVID-19 ON ROTARY BLASTHOLE DRILLING RIG MARKET
    5. MAJOR MARKET FINDINGS
      1. INCREASING MINING ACTIVITIES IN EMERGING ECONOMIES
      2. SURGE IN ENVIRONMENTAL CONCERNS
      3. BURGEONING DEMAND FOR LARGE-RANGE RIGS
  3. MARKET DYNAMICS
    1. KEY DRIVERS
      1. INNOVATION IN DRILLING RIG TECHNOLOGY
      2. INCREASING DEMAND FOR MINERALS AND METALS ACROSS INDUSTRIES
      3. SURGE IN APPLICATION IN INFRASTRUCTURAL PROJECTS
    2. KEY RESTRAINTS
      1. TECHNOLOGICAL COMPLEXITY AND HIGH COST OF ADVANCE DRILLING TECHNOLOGIES
      2. COMPLIANCE WITH THE SAFETY STANDARDS IN MINING INDUSTRY
      3. HAZARDS ASSOCIATED WITH MINING ACTIVITIES
  4. KEY ANALYTICS
    1. KEY MARKET TRENDS
      1. INCREASING ADOPTION OF REMOTE MONITORING AND CONTROL SYSTEMS
      2. ADOPTION OF VERSATILE AND HYBRID RIGS
      3. RISE IN EXPLORATION ACTIVITIES
    2. PORTER’S FIVE FORCES ANALYSIS
      1. BUYERS POWER
      2. SUPPLIERS POWER
      3. SUBSTITUTIONS
      4. NEW ENTRANTS
      5. INDUSTRY RIVALRY
    3. GROWTH PROSPECT MAPPING
    4. MARKET MATURITY ANALYSIS
    5. MARKET CONCENTRATION ANALYSIS
    6. KEY BUYING CRITERIA
    7. VALUE CHAIN ANALYSIS
  5. MARKET BY TYPE
    1. LARGE-RANGE DRILLING RIG
    2. MID-RANGE DRILLING RIG
    3. OTHER TYPES
  6. MARKET BY APPLICATION
    1. QUARRIES
    2. OPEN-PIT MINING
    3. OTHER APPLICATIONS
  7. GEOGRAPHICAL ANALYSIS
    1. NORTH AMERICA
      1. MARKET SIZE & ESTIMATES
      2. COUNTRY ANALYSIS
        1. UNITED STATES
        2. CANADA
    2. EUROPE
      1. MARKET SIZE & ESTIMATES
      2. COUNTRY ANALYSIS
        1. UNITED KINGDOM
        2. GERMANY
        3. FRANCE
        4. ITALY
        5. SPAIN
        6. REST OF EUROPE
    3. ASIA-PACIFIC
      1. MARKET SIZE & ESTIMATES
      2. COUNTRY ANALYSIS
        1. CHINA
        2. JAPAN
        3. INDIA
        4. SOUTH KOREA
        5. INDONESIA
        6. AUSTRALIA & NEW ZEALAND
        7. REST OF ASIA-PACIFIC
    4. REST OF WORLD
      1. MARKET SIZE & ESTIMATES
      2. REGIONAL ANALYSIS
        1. LATIN AMERICA
        2. MIDDLE EAST & AFRICA
  8. COMPETITIVE LANDSCAPE
    1. KEY STRATEGIC DEVELOPMENTS
      1. MERGERS & ACQUISITIONS
      2. PRODUCT LAUNCHES & DEVELOPMENTS
      3. PARTNERSHIPS & AGREEMENTS
      4. BUSINESS EXPANSIONS & DIVESTITURES
    2. COMPANY PROFILES
      1. BAUER AG
      2. CATERPILLAR INC
      3. EPIROC AB
      4. FURUKAWA CO LTD
      5. KOMATSU LTD
      6. SANDVIK AB
      7. SCHRAMM INC
      8. SUNWARD
      9. ATLAS COPCO
      10. KAISER AG
      11. HYUNDAI EVERDIGM
      12. TAIYE DRILL

LIST OF TABLES

TABLE 1: MARKET SNAPSHOT – ROTARY BLASTHOLE DRILLING RIG

TABLE 2: GLOBAL ROTARY BLASTHOLE DRILLING RIG MARKET, BY TYPE, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)

TABLE 3: GLOBAL ROTARY BLASTHOLE DRILLING RIG MARKET, BY TYPE, FORECAST YEARS, 2024-2032 (IN $ MILLION)

TABLE 4: GLOBAL LARGE-RANGE DRILLING RIG MARKET, BY REGION, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)

TABLE 5: GLOBAL LARGE-RANGE DRILLING RIG MARKET, BY REGION, FORECAST YEARS, 2024-2032 (IN $ MILLION)

TABLE 6: GLOBAL SMALL-RANGE DRILLING RIG MARKET, BY REGION, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)

TABLE 7: GLOBAL SMALL-RANGE DRILLING RIG MARKET, BY REGION, FORECAST YEARS, 2024-2032 (IN $ MILLION)

TABLE 8: GLOBAL OTHER TYPES MARKET, BY REGION, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)

TABLE 9: GLOBAL OTHER TYPES MARKET, BY REGION, FORECAST YEARS, 2024-2032 (IN $ MILLION)

TABLE 10: GLOBAL ROTARY BLASTHOLE DRILLING RIG MARKET, BY APPLICATION, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)

TABLE 11: GLOBAL ROTARY BLASTHOLE DRILLING RIG MARKET, BY APPLICATION, FORECAST YEARS, 2024-2032 (IN $ MILLION)

TABLE 12: GLOBAL QUARRIES MARKET, BY REGION, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)

TABLE 13: GLOBAL QUARRIES MARKET, BY REGION, FORECAST YEARS, 2024-2032 (IN $ MILLION)

TABLE 14: GLOBAL OPEN-PIT MINING MARKET, BY REGION, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)

TABLE 15: GLOBAL OPEN-PIT MINING MARKET, BY REGION, FORECAST YEARS, 2024-2032 (IN $ MILLION)

TABLE 16: GLOBAL OTHER APPLICATIONS MARKET, BY REGION, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)

TABLE 17: GLOBAL OTHER APPLICATIONS MARKET, BY REGION, FORECAST YEARS, 2024-2032 (IN $ MILLION)

TABLE 18: GLOBAL ROTARY BLASTHOLE DRILLING RIG MARKET, BY GEOGRAPHY, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)

TABLE 19: GLOBAL ROTARY BLASTHOLE DRILLING RIG MARKET, BY GEOGRAPHY, FORECAST YEARS, 2024-2032 (IN $ MILLION)

TABLE 20: NORTH AMERICA ROTARY BLASTHOLE DRILLING RIG MARKET, BY COUNTRY, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)

TABLE 21: NORTH AMERICA ROTARY BLASTHOLE DRILLING RIG MARKET, BY COUNTRY, FORECAST YEARS, 2024-2032 (IN $ MILLION)

TABLE 22: KEY PLAYERS OPERATING IN NORTH AMERICA ROTARY BLASTHOLE DRILLING RIG MARKET

TABLE 23: EUROPE ROTARY BLASTHOLE DRILLING RIG MARKET, BY COUNTRY, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)

TABLE 24: EUROPE ROTARY BLASTHOLE DRILLING RIG MARKET, BY COUNTRY, FORECAST YEARS, 2024-2032 (IN $ MILLION)

TABLE 25: KEY PLAYERS OPERATING IN EUROPE ROTARY BLASTHOLE DRILLING RIG MARKET

TABLE 26: ASIA-PACIFIC ROTARY BLASTHOLE DRILLING RIG MARKET, BY COUNTRY, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)

TABLE 27: ASIA-PACIFIC ROTARY BLASTHOLE DRILLING RIG MARKET, BY COUNTRY, FORECAST YEARS, 2024-2032 (IN $ MILLION)

TABLE 28: KEY PLAYERS OPERATING IN ASIA-PACIFIC ROTARY BLASTHOLE DRILLING RIG MARKET

TABLE 29: REST OF WORLD ROTARY BLASTHOLE DRILLING RIG MARKET, BY REGION, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)

TABLE 30: REST OF WORLD ROTARY BLASTHOLE DRILLING RIG MARKET, BY REGION, FORECAST YEARS, 2024-2032 (IN $ MILLION)

TABLE 31: KEY PLAYERS OPERATING IN REST OF WORLD ROTARY BLASTHOLE DRILLING RIG MARKET

TABLE 32: LIST OF MERGERS & ACQUISITIONS

TABLE 33: LIST OF PRODUCT LAUNCHES & DEVELOPMENTS

TABLE 34: LIST OF PARTNERSHIPS & AGREEMENTS

TABLE 35: LIST OF BUSINESS EXPANSIONS & DIVESTITURES

LIST OF FIGURES 

FIGURE 1: KEY MARKET TRENDS

FIGURE 2: PORTER’S FIVE FORCES ANALYSIS

FIGURE 3: GROWTH PROSPECT MAPPING 

FIGURE 4: MARKET MATURITY ANALYSIS

FIGURE 5: MARKET CONCENTRATION ANALYSIS

FIGURE 6: KEY BUYING CRITERIA

FIGURE 7: VALUE CHAIN ANALYSIS

FIGURE 8: GLOBAL ROTARY BLASTHOLE DRILLING RIG MARKET, GROWTH POTENTIAL, BY TYPE, IN 2023

FIGURE 9: GLOBAL ROTARY BLASTHOLE DRILLING RIG MARKET, BY LARGE-RANGE DRILLING RIG, 2024-2032 (IN $ MILLION)

FIGURE 10: GLOBAL ROTARY BLASTHOLE DRILLING RIG MARKET, BY SMALL-RANGE DRILLING RIG, 2024-2032 (IN $ MILLION)

FIGURE 11: GLOBAL ROTARY BLASTHOLE DRILLING RIG MARKET, BY OTHER TYPES, 2024-2032 (IN $ MILLION)

FIGURE 12: GLOBAL ROTARY BLASTHOLE DRILLING RIG MARKET, GROWTH POTENTIAL, BY APPLICATION, IN 2023

FIGURE 13: GLOBAL ROTARY BLASTHOLE DRILLING RIG MARKET, BY QUARRIES, 2024-2032 (IN $ MILLION)

FIGURE 14: GLOBAL ROTARY BLASTHOLE DRILLING RIG MARKET, BY OPEN-PIT MINING, 2024-2032 (IN $ MILLION)

FIGURE 15: GLOBAL ROTARY BLASTHOLE DRILLING RIG MARKET, BY OTHER APPLICATIONS, 2024-2032 (IN $ MILLION)

FIGURE 16: NORTH AMERICA ROTARY BLASTHOLE DRILLING RIG MARKET, COUNTRY OUTLOOK, 2023 & 2032 (IN %)

FIGURE 17: UNITED STATES ROTARY BLASTHOLE DRILLING RIG MARKET, 2024-2032 (IN $ MILLION)

FIGURE 18: CANADA ROTARY BLASTHOLE DRILLING RIG MARKET, 2024-2032 (IN $ MILLION)

FIGURE 19: EUROPE ROTARY BLASTHOLE DRILLING RIG MARKET, COUNTRY OUTLOOK, 2023 & 2032 (IN %)

FIGURE 20: UNITED KINGDOM ROTARY BLASTHOLE DRILLING RIG MARKET, 2024-2032 (IN $ MILLION)

FIGURE 21: GERMANY ROTARY BLASTHOLE DRILLING RIG MARKET, 2024-2032 (IN $ MILLION)

FIGURE 22: FRANCE ROTARY BLASTHOLE DRILLING RIG MARKET, 2024-2032 (IN $ MILLION)

FIGURE 23: ITALY ROTARY BLASTHOLE DRILLING RIG MARKET, 2024-2032 (IN $ MILLION)

FIGURE 24: SPAIN ROTARY BLASTHOLE DRILLING RIG MARKET, 2024-2032 (IN $ MILLION)

FIGURE 25: REST OF EUROPE ROTARY BLASTHOLE DRILLING RIG MARKET, 2024-2032 (IN $ MILLION)

FIGURE 26: ASIA-PACIFIC ROTARY BLASTHOLE DRILLING RIG MARKET, COUNTRY OUTLOOK, 2023 & 2032 (IN %)

FIGURE 27: CHINA ROTARY BLASTHOLE DRILLING RIG MARKET, 2024-2032 (IN $ MILLION)

FIGURE 28: JAPAN ROTARY BLASTHOLE DRILLING RIG MARKET, 2024-2032 (IN $ MILLION)

FIGURE 29: INDIA ROTARY BLASTHOLE DRILLING RIG MARKET, 2024-2032 (IN $ MILLION)

FIGURE 30: SOUTH KOREA ROTARY BLASTHOLE DRILLING RIG MARKET, 2024-2032 (IN $ MILLION)

FIGURE 31: INDONESIA ROTARY BLASTHOLE DRILLING RIG MARKET, 2024-2032 (IN $ MILLION)

FIGURE 32: AUSTRALIA & NEW ZEALAND ROTARY BLASTHOLE DRILLING RIG MARKET, 2024-2032 (IN $ MILLION)

FIGURE 33: REST OF ASIA-PACIFIC ROTARY BLASTHOLE DRILLING RIG MARKET, 2024-2032 (IN $ MILLION)

FIGURE 34: REST OF WORLD ROTARY BLASTHOLE DRILLING RIG MARKET, REGIONAL OUTLOOK, 2023 & 2032 (IN %)

FIGURE 35: LATIN AMERICA ROTARY BLASTHOLE DRILLING RIG MARKET, 2024-2032 (IN $ MILLION)

FIGURE 36: MIDDLE EAST & AFRICA ROTARY BLASTHOLE DRILLING RIG MARKET, 2024-2032 (IN $ MILLION)

FAQ’s

FAQs

The efficiency, productivity, and safety of mining operations are significantly influenced by the market for rotary blasthole drill rigs. Advanced rigs are crucial in enhancing drilling precision, increasing depth capacity, and reducing operational downtime, ultimately improving overall mining processes.

Manufacturers are increasingly focusing on eco-friendly designs, incorporating features that reduce emissions, minimize environmental impact, and adhere to stringent regulatory standards, aligning with industry sustainability goals.

The market anticipates continued advancements in rig technology, increased focus on sustainability, further integration of automation, and a greater emphasis on safety features to meet evolving industry needs.

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