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.
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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.
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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.
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