Mining Drills and Breakers Market Expected to Reach $20.6 billion by 2030

According to a new report published by Allied Market Research, titled, “Mining Drills and Breakers Market by Machinery Type, Business, and Application: Global Opportunity Analysis and Industry Forecast, 2021–2030,”

The global mining drills and breakers market size was valued at $13,582.7 million in 2020, and is projected to reach $20,679.3 million by 2030, registering a CAGR of 4.1% from 2021 to 2030. Mining drills are the most common equipment used to dig the earth's surface for mining. During mining, breakers are used to break rocks or stones. Organic materials and minerals such as coal, crude oil, gold, and variety of other metals are extracted from the earth soil using mining equipment. Drilling equipment are of two types, which include rotary and crawler. Hydraulic and rock breakers are the most common types of breakers. Breakers provide manufacturers a considerable benefit, since they allow them to pick individual breakers that are compatible with the application.

In 2020, the Asia-Pacific region dominated the global market in terms of revenue and is expected to continue this trend during the forecast period, owing to increase of coal and metal mining activities in the region. In comparison to other regions, Asia-Pacific is the most productive, with a wide range of industrial verticals spending heavily in the mining drills and breakers market. Furthermore, due to the deployment of mining drills and breakers in the mining sector, the aftersales market in emerging nations is predicted to increase rapidly throughout the projection period. In addition, a number of local businesses invest in the metal and coal mining industries, which is expected to increase the demand for mining drills and breakers.

Various mining drills and breakers are available in the market, which include top hammer long hole drill rigs, secondary breakers drill rigs, surface down-hole drill rigs, rotary blasthole drill rigs, secondary breaking drill rigs, rock pulse, and hydraulic breakers. It is also employed in a variety of construction-related procedures. The growth in mining activities to fulfil the demand for metals and minerals drives the mining drills and breakers. Furthermore, the Asia-Pacific region's economy has risen in recent years in comparison to other regions globally, which boosts the mining industry's expansion. This, in turn, is likely to propel the mining drills and breakers market growth forward during the forecast period.

Moreover, key players in the market get contracts and offer their advanced mining drills and breakers equipment in the mining sector globally. For instance, in December 2021, Sandvik Mining and Rock Solutions received an order from Newcrest in Canada for surface mining equipment that will improve reliability and production. Surface and rotary drills that are automation ready will be employed in an open pit copper and gold mine that is already in production. Similarly, in October 2021, Epiroc received a major mining equipment contract in Sweden. Face drill rigs, Simba production drilling rigs, and boltec rock reinforcing rigs were ordered by Europe's largest iron ore producer for use at its Kiruna and Malmberget underground iron ore mines in north Sweden. As a result, such factors create growth opportunities in the market .  

However, during the COVID-19 pandemic lockdown, various manufacturers in the mining drills and breakers market had to stop their business in countries such as China, the U.S., and India. This break directly impacted sales of mining drills and breaker. In addition, lack of manpower and raw materials also constricted the supply of equipment of mining drills and breakers, which has negatively influenced the growth of the market. However, reopening of production facilities and introduction of vaccines for COVID-19 are anticipated to lead to re-opening of mining drills and breaker companies.

Competition Analysis

Key companies profiled in the mining drills and breakers market report include Boart Longyear, Caterpillar, Inc., Doosan Corporation, Atlas Copco AB, Epiroc AB, Furukawa Co., Ltd., GEODRILL Limited, Komatsu Ltd., Metso Outotec Corporation and Sandvik AB.

Key Findings Of The Study

• The report provides an extensive analysis of the current and emerging mining drills and breakers market trends and dynamics. 
• Depending on machinery type, the drills segment dominated the mining drills and breakers market share, in terms of revenue in 2020 and the breakers segment is projected to grow at a significant CAGR during the forecast period.
• By application type, the metal mining segment has registered highest revenue in 2020.
• Asia-Pacific is projected to register highest growth rate in the coming years.
• Depending on business, the OEM segment dominated the market, in terms of revenue in 2020, and aftersales segment is projected to grow at a significant CAGR during the forecast period.
• The key players within the mining drills and breakers are profiled in this report, and their strategies are analyzed thoroughly, which help understand competitive outlook of the mining drills and breakers industry.
• The report provides an extensive analysis of the current trends and emerging opportunities of the market. 
• In-depth mining drills and breakers market analysis is conducted by constructing estimations for the key segments between 2021 and 2030.