IMARC Group has recently released a new research study βMining Drills & Breakers Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027β, offers a detailed analysis of the market drivers, segmentation, growth opportunities, trends, and competitive landscape to understand the current and future market scenarios.
What are the growth prospects of Mining Drills & Breakers market?
The global mining drills & breakers market size reached US$ 14.63 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 21.2 Billion on by 2027, exhibiting a growth rate (CAGR) of 6.20% during 2022-2027.
Covid-19 Impact:
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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What is a the Mining Drills & Breakers Market ?
Mining drills & breakers refer to mining equipment utilized for drilling holes or crushing rocks on the surface of a coalbed. They can be categorized into rotary drills, crawler drills, rock breakers, hydraulic breakers, etc. These mining drills & breakers are used for extracting new mineral deposits, including rock, clay, limestone, sulfur, salts, and fertilizer minerals.
They even aid in obtaining detailed information about rock fabric, rock types, mineral content, and the relationship between the rock layers and the surface. As a result, mining drills & breakers machines find extensive applications across numerous sectors, such as coal, metal, mining, etc.
What are the major market drivers in a Mining Drills & Breakers market ?
The rising mineral exploration activities and the expanding mining industry across countries are among the key factors driving the mining drills & breakers market. In addition to this, the increasing need for efficient mining solutions and powerful machinery to withstand various challenges, including water shortages, loss of biodiversity, soil erosion, etc., is acting as another significant growth-inducing factor.
Moreover, the inflating investments by leading market players in research and development (R&D) activities to introduce new equipment integrated with advanced technologies such as cognitive computing and artificial intelligence (AI) are also positively influencing the market growth. In line with this, the emerging trend of automation and the elevating incorporation of the internet of things (IoT) technologies in mining and drilling operations are further catalyzing the global market.
Apart from this, the escalating adoption of backhoe loaders and excavators for digging trenches and holes, transportation of building material, small demolitions, excavation, breaking asphalt, land scaring, paving roads, etc., is expected to stimulate the mining drills & breakers market in the coming years.
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Who are the major players in Mining Drills & Breakers Market?
Atlas Copco AB, Boart Longyear, Casagrande S.p.A., Caterpillar Inc., Doosan Corporation, Epiroc AB, Furukawa Co. Ltd., Geodrill Limited, Komatsu Ltd., Sandvik AB and Soosan Heavy Industries Co. Ltd.
Report Segmentation:
The report has been segmented the market into following categories:
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β’ Market Performance (2016-2021)
β’ Market Outlook (2022- 2027)
β’ Porter's Five Forces Analysis
β’ Market Drivers and Success Factors
β’ SWOT Analysis
β’ Value Chain
β’ Comprehensive Mapping of the Competitive Landscape If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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