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Mining Drill Bits Global Market Report 2024

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    Report

  • 200 Pages
  • February 2024
  • Region: Global
  • The Business Research Company
  • ID: 5766804
The mining drill bits market size has grown strongly in recent years. It will grow from $1.52 billion in 2023 to $1.63 billion in 2024 at a compound annual growth rate (CAGR) of 7.1%. The expansion during the historical era can be credited to the Industrial Revolution and the increase in mining activities. This growth stemmed from the development of extractive industries, advancements in drill bit design technology, the expansion of oil and gas exploration, discoveries in geology, and the exploitation of resources.

The mining drill bits market size is expected to see strong growth in the next few years. It will grow to $2.16 billion in 2028 at a compound annual growth rate (CAGR) of 7.3%. The forecasted growth is driven by rare earth element exploration, geopolitical and economic factors, infrastructure projects, sustainable mining practices, and automated drilling systems. Key trends include material technology advancements, increased demand for automation, expanded exploration, innovative bit designs, and a rise in mineral extraction operations.

The anticipated surge in coal demand is poised to propel the growth of the mining drill bits market in the foreseeable future. Drilling plays a pivotal role in various mining applications, facilitating access to diverse soil samples for research purposes and enabling extraction of valuable minerals from otherwise inaccessible locations. Various drilling techniques cater to specific mining objectives, whether for exploration, production, land clearing, or geotechnical applications. For instance, as highlighted in a July 2022 report by the International Energy Agency (IEA), a Paris-based autonomous intergovernmental organization, projections indicate a 14% increase in the European Union's coal consumption from the previous year, with an additional 7% rise predicted for 2022. India's burgeoning economy has sustained high coal demand since the beginning of 2022, with an anticipated overall increase of 7%. Hence, the escalating need for coal is a driving force behind the heightened demand for mining drill bits, shaping the market's growth trajectory.

The anticipated surge in mining activities is projected to drive the expansion of the mining drill bits market in the forthcoming years. Mining, involving the extraction of valuable minerals or geological resources from the earth's surface, encompasses a range of processes, methodologies, and technologies for locating, extracting, processing, and transporting minerals across various industries. Mining operations rely on mining drill bits to efficiently penetrate and extract minerals from the earth's surface or subsurface. As an illustration, in February 2023, the United States Geological Survey reported that mines in the United States yielded approximately $98.2 billion in nonfuel mineral products in 2022, marking a $3.6 billion increase from the estimated total of $94.6 billion in 2021. Consequently, the escalating mining activities serve as a driving force behind the growth of the mining drill bits market.

Technological advancement stands as a prominent trend gaining traction within the mining drill bits market. Key players in this sector are actively innovating their mining drill bits to fortify and maintain their market presence. For example, in May 2022, Epiroc, a Sweden-based mining and industrial equipment manufacturing company, introduced the Powerbit X - a novel drill bit featuring diamond protection. This advanced tool allows an operator to dig a single hole using only one drill bit, eliminating the need for in-hole bit replacements that lead to substantial productivity losses over time. The incorporation of diamond-protected buttons in this technology has the potential to save hundreds of operational hours. Moreover, compared to standard drill bits, the Powerbit X's exceptionally durable surface enables a remarkable 90% reduction in CO2 emissions per drilled meter. Additionally, its prolonged bit life results in reduced energy and resource consumption. This extended longevity also minimizes the requirement for drill bits in mining operations, subsequently reducing both external and internal transfers within the mine.

Prominent players in the mining drill bits market are directing their efforts toward developing innovative products tailored to better serve their existing clientele, such as the single-seal rotary drill bits. These drill bits, commonly employed in rotary drilling operations, utilize a "seal" component to prevent the ingress of undesired substances such as drilling mud or debris into the drill bit's internal components. In April 2023, Sandvik AB, a Sweden-based company specializing in mining, rock excavation, drilling, and processing equipment, introduced the Sandvik RR340 single-seal roller bearing rotary drill bit. This high-caliber drill bit complements the company's rotary offerings. Its distinctive single-seal roller bearing technology, coupled with optional PowerCarbide inserts, ensures reliable and efficient drilling, extending service life by 45% compared to standard models. The prolonged longevity of the Sandvik RR340 single-seal bit can be attributed to various technologies, including its abrasion-resistant radial seal. This design enhances bearing durability, leading to extended operational hours and heightened reliability compared to traditional seals. Moreover, the low-friction bearing in the Sandvik RR340 minimizes friction and heat generation, two factors that typically contribute to wear and reduced efficiency in drill bits.

In May 2021, Major Drilling Group, a Canadian drilling and mining service corporation, purchased McKay Drilling for a sum of $62 million. This acquisition aims to offer clients comprehensive benefits across the project's entire duration, spanning from defining resources to extending mine life. It seeks to merge McKay Drilling's proficiency in reverse circulation and diamond drilling with Major Drilling's expertise in underground operations and mine services. McKay Drilling is a professional drilling and testing service provider based in the United States.

Major companies operating in the mining drill bits market report are Caterpillar Inc., Schlumberger Limited, Komatsu Ltd., Baker Hughes Company, Halliburton Company, Atlas Copco AB, Mitsubishi Materials Corporation, Sandvik AB, National Oilwell Varco Inc., Epiroc AB, Boart Longyear Corporation, Changsha Heijingang Industrial Co. Ltd., Varel International Energy Services Inc., Ulterra Drilling Technologies LLC, Robit PLC, Brunner and Lay Inc., Bit Brokers International Inc., Rockmore International Inc., Drill King International Inc., Western Drilling Tools Inc., Bart Longyear Company Inc., Center Rock Inc., DATC Group, Drilformance, MICON Drilling GmbH, Numa S.A., ReedHycalog L.L.C., Universal Drilling Technique LLC, Xiamen Prodrill Equipment Co. Ltd.

Asia-Pacific was the largest region in the mining drill bits market in 2023. The regions covered in the mining drill bits market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the mining drill bits market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The primary categories of mining drill bits encompass rotary bits, DTH hammer bits, and diverse alternatives. Rotary tool bits are affixed using chucks, collets, and mandrels, typically employed for refining tasks in woodworking, particularly furniture and cabinet finishing. These bits incorporate various materials such as PDC diamond, tungsten carbide, steel, and others, offered in different sizes ranging from 5 inches to over 14 inches, catering to surface mining as well as underground mining requirements.

The mining drill bits market research report is one of a series of new reports that provides mining drill bits market statistics, including mining drill bits industry global market size, regional shares, competitors with mining drill bits market share, detailed mining drill bits market segments, market trends, and opportunities, and any further data you may need to thrive in the mining drill bits industry. This mining drill bits market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The mining drill bits market consists of revenues earned by drilling hole, surface drilling, blasting, mineral assaying (geochemical and precious metals analysis), sample preparation. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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Table of Contents

1. Executive Summary2. Mining Drill Bits Market Characteristics3. Mining Drill Bits Market Trends and Strategies
4. Mining Drill Bits Market - Macro Economic Scenario
4.1. Impact of High Inflation on the Market
4.2. Ukraine-Russia War Impact on the Market
4.3. COVID-19 Impact on the Market
5. Global Mining Drill Bits Market Size and Growth
5.1. Global Mining Drill Bits Market Drivers and Restraints
5.1.1. Drivers of the Market
5.1.2. Restraints of the Market
5.2. Global Mining Drill Bits Historic Market Size and Growth, 2018-2023, Value ($ Billion)
5.3. Global Mining Drill Bits Forecast Market Size and Growth, 2023-2028, 2033F, Value ($ Billion)
6. Mining Drill Bits Market Segmentation
6.1. Global Mining Drill Bits Market, Segmentation by Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Rotary Bits
  • DTH Hammer bits
  • Other Types
6.2. Global Mining Drill Bits Market, Segmentation by Material, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • PDC Diamond
  • Tungsten Carbide
  • Steel
  • Other Materials
6.3. Global Mining Drill Bits Market, Segmentation by Bit Size, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Below 5”
  • 5”-8”
  • 8”-11”
  • 11”-14”
  • Above 14"
6.4. Global Mining Drill Bits Market, Segmentation by Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
  • Surface Mining
  • Underground Mining
7. Mining Drill Bits Market Regional and Country Analysis
7.1. Global Mining Drill Bits Market, Split by Region, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
7.2. Global Mining Drill Bits Market, Split by Country, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8. Asia-Pacific Mining Drill Bits Market
8.1. Asia-Pacific Mining Drill Bits Market Overview
Region Information, Impact of COVID-19, Market Information, Background Information, Government Initiatives, Regulations, Regulatory Bodies, Major Associations, Taxes Levied, Corporate Tax Structure, Investments, Major Companies
8.2. Asia-Pacific Mining Drill Bits Market, Segmentation by Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8.3. Asia-Pacific Mining Drill Bits Market, Segmentation by Material, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8.4. Asia-Pacific Mining Drill Bits Market, Segmentation by Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
9. China Mining Drill Bits Market
9.1. China Mining Drill Bits Market Overview
9.2. China Mining Drill Bits Market, Segmentation by Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
9.3. China Mining Drill Bits Market, Segmentation by Material, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
9.4. China Mining Drill Bits Market, Segmentation by Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
10. India Mining Drill Bits Market
10.1. India Mining Drill Bits Market, Segmentation by Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
10.2. India Mining Drill Bits Market, Segmentation by Material, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
10.3. India Mining Drill Bits Market, Segmentation by Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11. Japan Mining Drill Bits Market
11.1. Japan Mining Drill Bits Market Overview
11.2. Japan Mining Drill Bits Market, Segmentation by Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11.3. Japan Mining Drill Bits Market, Segmentation by Material, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11.4. Japan Mining Drill Bits Market, Segmentation by Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12. Australia Mining Drill Bits Market
12.1. Australia Mining Drill Bits Market, Segmentation by Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12.2. Australia Mining Drill Bits Market, Segmentation by Material, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12.3. Australia Mining Drill Bits Market, Segmentation by Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13. Indonesia Mining Drill Bits Market
13.1. Indonesia Mining Drill Bits Market, Segmentation by Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13.2. Indonesia Mining Drill Bits Market, Segmentation by Material, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13.3. Indonesia Mining Drill Bits Market, Segmentation by Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14. South Korea Mining Drill Bits Market
14.1. South Korea Mining Drill Bits Market Overview
14.2. South Korea Mining Drill Bits Market, Segmentation by Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14.3. South Korea Mining Drill Bits Market, Segmentation by Material, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14.4. South Korea Mining Drill Bits Market, Segmentation by Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15. Western Europe Mining Drill Bits Market
15.1. Western Europe Mining Drill Bits Market Overview
15.2. Western Europe Mining Drill Bits Market, Segmentation by Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15.3. Western Europe Mining Drill Bits Market, Segmentation by Material, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15.4. Western Europe Mining Drill Bits Market, Segmentation by Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16. UK Mining Drill Bits Market
16.1. UK Mining Drill Bits Market, Segmentation by Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16.2. UK Mining Drill Bits Market, Segmentation by Material, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16.3. UK Mining Drill Bits Market, Segmentation by Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
17. Germany Mining Drill Bits Market
17.1. Germany Mining Drill Bits Market, Segmentation by Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
17.2. Germany Mining Drill Bits Market, Segmentation by Material, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
17.3. Germany Mining Drill Bits Market, Segmentation by Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
18. France Mining Drill Bits Market
18.1. France Mining Drill Bits Market, Segmentation by Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
18.2. France Mining Drill Bits Market, Segmentation by Material, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
18.3. France Mining Drill Bits Market, Segmentation by Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
19. Italy Mining Drill Bits Market
19.1. Italy Mining Drill Bits Market, Segmentation by Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
19.2. Italy Mining Drill Bits Market, Segmentation by Material, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
19.3. Italy Mining Drill Bits Market, Segmentation by Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
20. Spain Mining Drill Bits Market
20.1. Spain Mining Drill Bits Market, Segmentation by Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
20.2. Spain Mining Drill Bits Market, Segmentation by Material, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
20.3. Spain Mining Drill Bits Market, Segmentation by Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
21. Eastern Europe Mining Drill Bits Market
21.1. Eastern Europe Mining Drill Bits Market Overview
21.2. Eastern Europe Mining Drill Bits Market, Segmentation by Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
21.3. Eastern Europe Mining Drill Bits Market, Segmentation by Material, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
21.4. Eastern Europe Mining Drill Bits Market, Segmentation by Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
22. Russia Mining Drill Bits Market
22.1. Russia Mining Drill Bits Market, Segmentation by Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
22.2. Russia Mining Drill Bits Market, Segmentation by Material, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
22.3. Russia Mining Drill Bits Market, Segmentation by Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
23. North America Mining Drill Bits Market
23.1. North America Mining Drill Bits Market Overview
23.2. North America Mining Drill Bits Market, Segmentation by Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
23.3. North America Mining Drill Bits Market, Segmentation by Material, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
23.4. North America Mining Drill Bits Market, Segmentation by Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24. USA Mining Drill Bits Market
24.1. USA Mining Drill Bits Market Overview
24.2. USA Mining Drill Bits Market, Segmentation by Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24.3. USA Mining Drill Bits Market, Segmentation by Material, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24.4. USA Mining Drill Bits Market, Segmentation by Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25. Canada Mining Drill Bits Market
25.1. Canada Mining Drill Bits Market Overview
25.2. Canada Mining Drill Bits Market, Segmentation by Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25.3. Canada Mining Drill Bits Market, Segmentation by Material, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25.4. Canada Mining Drill Bits Market, Segmentation by Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26. South America Mining Drill Bits Market
26.1. South America Mining Drill Bits Market Overview
26.2. South America Mining Drill Bits Market, Segmentation by Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26.3. South America Mining Drill Bits Market, Segmentation by Material, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26.4. South America Mining Drill Bits Market, Segmentation by Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27. Brazil Mining Drill Bits Market
27.1. Brazil Mining Drill Bits Market, Segmentation by Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27.2. Brazil Mining Drill Bits Market, Segmentation by Material, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27.3. Brazil Mining Drill Bits Market, Segmentation by Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28. Middle East Mining Drill Bits Market
28.1. Middle East Mining Drill Bits Market Overview
28.2. Middle East Mining Drill Bits Market, Segmentation by Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28.3. Middle East Mining Drill Bits Market, Segmentation by Material, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28.4. Middle East Mining Drill Bits Market, Segmentation by Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29. Africa Mining Drill Bits Market
29.1. Africa Mining Drill Bits Market Overview
29.2. Africa Mining Drill Bits Market, Segmentation by Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29.3. Africa Mining Drill Bits Market, Segmentation by Material, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29.4. Africa Mining Drill Bits Market, Segmentation by Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
30. Mining Drill Bits Market Competitive Landscape and Company Profiles
30.1. Mining Drill Bits Market Competitive Landscape
30.2. Mining Drill Bits Market Company Profiles
30.2.1. Caterpillar Inc.
30.2.1.1. Overview
30.2.1.2. Products and Services
30.2.1.3. Strategy
30.2.1.4. Financial Performance
30.2.2. Schlumberger Limited
30.2.2.1. Overview
30.2.2.2. Products and Services
30.2.2.3. Strategy
30.2.2.4. Financial Performance
30.2.3. Komatsu Ltd.
30.2.3.1. Overview
30.2.3.2. Products and Services
30.2.3.3. Strategy
30.2.3.4. Financial Performance
30.2.4. Baker Hughes Company
30.2.4.1. Overview
30.2.4.2. Products and Services
30.2.4.3. Strategy
30.2.4.4. Financial Performance
30.2.5. Halliburton Company
30.2.5.1. Overview
30.2.5.2. Products and Services
30.2.5.3. Strategy
30.2.5.4. Financial Performance
31. Mining Drill Bits Market Other Major and Innovative Companies
31.1. Atlas Copco AB
31.2. Mitsubishi Materials Corporation
31.3. Sandvik AB
31.4. National Oilwell Varco Inc.
31.5. Epiroc AB
31.6. Boart Longyear Corporation
31.7. Changsha Heijingang Industrial Co. Ltd.
31.8. Varel International Energy Services Inc.
31.9. Ulterra Drilling Technologies LLC
31.10. Robit plc
31.11. Brunner and Lay Inc.
31.12. Bit Brokers International Inc.
31.13. Rockmore International Inc.
31.14. Drill King International Inc.
31.15. Western Drilling Tools Inc
32. Global Mining Drill Bits Market Competitive Benchmarking33. Global Mining Drill Bits Market Competitive Dashboard34. Key Mergers and Acquisitions in the Mining Drill Bits Market
35. Mining Drill Bits Market Future Outlook and Potential Analysis
35.1 Mining Drill Bits Market in 2028 - Countries Offering Most New Opportunities
35.2 Mining Drill Bits Market in 2028 - Segments Offering Most New Opportunities
35.3 Mining Drill Bits Market in 2028 - Growth Strategies
35.3.1 Market Trend-based Strategies
35.3.2 Competitor Strategies
36. Appendix
36.1. Abbreviations
36.2. Currencies
36.3. Historic and Forecast Inflation Rates
36.4. Research Inquiries
36.5. About the Analyst
36.6. Copyright and Disclaimer

Executive Summary

Mining Drill Bits Global Market Report 2024 provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses on mining drill bits market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

Reasons to Purchase

  • Gain a truly global perspective with the most comprehensive report available on this market covering 50+ geographies.
  • Understand how the market has been affected by the coronavirus and how it is responding as the impact of the virus abates.
  • Assess the Russia-Ukraine war’s impact on agriculture, energy and mineral commodity supply and its direct and indirect impact on the market.
  • Measure the impact of high global inflation on market growth.
  • Create regional and country strategies on the basis of local data and analysis.
  • Identify growth segments for investment.
  • Outperform competitors using forecast data and the drivers and trends shaping the market.
  • Understand customers based on the latest market shares.
  • Benchmark performance against key competitors.
  • Suitable for supporting your internal and external presentations with reliable high quality data and analysis.
  • Report will be updated with the latest data and delivered to you with an Excel data sheet for easy data extraction and analysis.
  • All data from the report will also be delivered in an excel dashboard format.
Description
Where is the largest and fastest growing market for mining drill bits? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? This report answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.
  • The market characteristics section of the report defines and explains the market.
  • The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
  • The forecasts are made after considering the major factors currently impacting the market. These include:
  • The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
  • The impact of higher inflation in many countries and the resulting spike in interest rates.
  • The continued but declining impact of COVID-19 on supply chains and consumption patterns.
  • Market segmentations break down the market into sub markets.
  • The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
  • The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
  • The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.

Report Scope

Markets Covered:
1) By Type: Rotary Bits; DTH Hammer bits; Other Types
2) By Material: PDC Diamond; Tungsten Carbide; Steel; Other Materials
3) By Bit Size: Below 5”; 5”-8”; 8”-11”; 11”-14”; Above 14"
4) By Application: Surface Mining; Underground Mining

Key Companies Mentioned: Caterpillar Inc.; Schlumberger Limited; Komatsu Ltd.; Baker Hughes Company; Halliburton Company

Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain

Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa

Time Series: Five years historic and ten years forecast

Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita

Data Segmentation: Country and regional historic and forecast data, market share of competitors, market segments

Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes

Delivery Format: PDF, Word and Excel Data Dashboard

Companies Mentioned

  • Caterpillar Inc.
  • Schlumberger Limited
  • Komatsu Ltd.
  • Baker Hughes Company
  • Halliburton Company
  • Atlas Copco AB
  • Mitsubishi Materials Corporation
  • Sandvik AB
  • National Oilwell Varco Inc.
  • Epiroc AB
  • Boart Longyear Corporation
  • Changsha Heijingang Industrial Co. Ltd.
  • Varel International Energy Services Inc.
  • Ulterra Drilling Technologies LLC
  • Robit plc
  • Brunner and Lay Inc.
  • Bit Brokers International Inc.
  • Rockmore International Inc.
  • Drill King International Inc.
  • Western Drilling Tools Inc.
  • Bart Longyear Company Inc.
  • Center Rock Inc.
  • DATC Group
  • Drilformance
  • MICON Drilling GmbH
  • Numa S.A.
  • ReedHycalog L.L.C.
  • Universal Drilling Technique LLC
  • Xiamen Prodrill Equipment Co. Ltd.

Methodology

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