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Mining Drills and Breakers market to Generate $20.67 Bn, Globally, by 2030 at 4.1% CAGR: Allied Market Research
WILMINGTON, DE, UNITED STATES, October 23, 2024 /EINPresswire / -- Drivers, Restraints, and Opportunities
Rise in demand for underground mining equipment and surge in demand for coal, metal, and mineral mine drive the growth of the global mining drills and breakers market . On the other hand, technological advancements in the mining sector and rise in investments in the mining industries present new opportunities in the coming years.
According to the report, the global mining drills and breakers industry generated $13.58 billion in 2020, and is estimated to reach $20.67 billion by 2030, witnessing a CAGR of 4.1% from 2021 to 2030.
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The drills segment to maintain its lead position by 2030
Based on machinery type, the drills segment held the largest market share in 2020, accounting for more than two-thirds of the global mining drills and breakers market, and is expected to maintain its lead position by 2030. This is attributed to development in transport and conveyance sector and increased mineral fertilizers for advancing agriculture activities. However, the breakers segment is estimated to register the highest CAGR of 4.8% during the forecast period, owing to rise in usage of artificial sand in the construction sector and surge in mining operations that need breakers such as tunnel breakers, heat-resistant breakers, and stationary breakers.
The metal mining segment to maintain its leadership status based in terms of revenue by 2030
Based on application, the metal mining segment accounted for nearly half of the global mining drills and breakers market in 2020, and is estimated to maintain its leadership status based in terms of revenue by 2030. Moreover, this segment is expected to manifest the fastest CAGR of 4.5% during the forecast period. This is attributed to surge in demand from the automotive, aerospace, and construction industries along with need for premium metals such as titanium, diamond, and platinum in developing countries. The research analyzes the segments including mineral mining and coal mining.
Asia-Pacific, followed by North America, to maintain its dominance throughout the forecast period
Based on region, Asia-Pacific, followed by North America, contributed to the highest market share in 2020, accounting for nearly half of the total market share of the global mining drills and breakers market, and is estimated to maintain its dominance throughout the forecast period. Moreover, this region is projected to witness the largest CAGR of 4.8% during the forecast period. This is attributed to rise in demand for minerals and precious metals such as gold, diamond, silver, and platinum along with surge in need for coal.
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Leading Market Players
Boart Longyear
Caterpillar, Inc.
Doosan Corporation
Atlas Copco AB
Epiroc AB
Furukawa Co., Ltd.
GEODRILL Limited
Komatsu Ltd.
Metso Outotec Corporation
Sandvik AB
Key Benefits For Stakeholders
The report provides an extensive analysis of the current and emerging mining drills and breakers market trends and dynamics.
In-depth mining drills and breakers market analysis is conducted by constructing market estimations for key market segments between 2021 and 2030.
Extensive analysis of the mining drills and breakers market is conducted by following key product positioning and monitoring of top competitors within the market framework.
A comprehensive analysis of all the regions is provided to determine the prevailing opportunities.
The global mining drills and breakers market forecast analysis from 2021 to 2030 is included in the report.
The key players within mining drills and breakers industry are profiled in this report and their strategies are analyzed thoroughly, which help understand the competitive outlook of the Mining drills and breaker industry.
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About Us:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
David Correa
Allied Market Research
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Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.