Rock Drilling Equipment Market Report 2025

This Rock Drilling Equipment Market report delivers an in-depth analysis of the market’s key characteristics, including size, growth potential, and segmentation. It provides a detailed breakdown of the market across major regions and leading countries, highlighting historical data and future growth projections. The report also examines the competitive landscape, market share insights, emerging trends, and strategic developments shaping the market.

The rock drilling equipment market size has grown steadily in recent years. It will grow from $2.28 billion in 2024 to $2.39 billion in 2025 at a compound annual growth rate (CAGR) of 4.8%. The growth during the historic period can be attributed to improved durability with diamond-tipped bits, increased adoption of renewable technology, growing demand for remote-controlled tools, a rise in global housing projects, and a focus on smart mining practices.

The rock drilling equipment market size is expected to see steady growth in the next few years. It will grow to $2.87 billion in 2029 at a compound annual growth rate (CAGR) of 4.7%. The growth during the forecast period can be attributed to the demand for 3D-printed drill bits, the growth of multi-blade configurations, efforts to reduce the environmental impact of drilling, the expansion of geothermal energy projects, and the increasing demand for steel. Key trends in the forecast period include the development of energy-efficient drilling machines, technological advancements, the creation of automated drilling systems, the digitalization of drilling equipment, and improvements in remotely operated drilling equipment.

The increasing number of mining projects is expected to drive the growth of the rock drilling equipment market. Mining projects involve planned operations for the exploration, extraction, and processing of minerals or other geological materials from the Earth's surface or subsurface. This rise in mining projects is primarily due to the growing global demand for minerals and raw materials, spurred by industrialization, urbanization, renewable energy initiatives, and technological advancements. Rock drilling equipment plays a crucial role in these projects by enabling the precise creation of holes for blasting, exploration, and tunneling. This equipment boosts productivity, ensures safety, lowers operational costs, and facilitates the extraction of valuable minerals with higher precision and reduced environmental impact. For example, in October 2024, a report from the US Energy Information Administration revealed that in 2022, U.S. coal production increased by 2.9%, reaching 594.2 million short tons (MMst). The number of active mines rose to 548, compared to 512 in 2021. As a result, the expanding number of mining projects is driving the demand for rock drilling equipment.

Companies in the rock drilling equipment market are focusing on enhancing drilling efficiency through advancements in down-the-hole (DTH) drilling. DTH drilling is a method used in mining, construction, and water well industries where the drill bit is positioned at the bottom of the drill string, allowing drilling to take place directly at the hole's base. In January 2023, for example, Sweden-based Epiroc AB launched its new Epiroc DTH drill bits, designed to provide a longer service life and reduce operational interruptions for more continuous drilling. The new drill bits feature optimized flushing and handling of drill cuttings and an increased number of buttons that enhance overall energy during drilling. These improvements extend the drill bits' lifespan by up to 20% compared to previous models, resulting in more consistent drilling performance and higher productivity.

In May 2023, Argonaut Private Equity, a U.S.-based private equity firm, acquired Center Rock Inc. for an undisclosed amount. This acquisition was aimed at expanding Argonaut's portfolio in the rock drilling and mining sectors. By leveraging Center Rock Inc.'s expertise in innovative down-the-hole drilling technologies, Argonaut aims to improve operational efficiency, broaden its market reach, and position itself to capitalize on the rising demand for advanced mining equipment and solutions. Center Rock Inc. is a U.S.-based manufacturer of rock drilling equipment.

Major players in the rock drilling equipment market are Caterpillar Inc., Sandvik AB, Epiroc AB, Xuzhou Construction Machinery (XCMG) Group, Weir Group, Atlas Copco AB, Boart Longyear Pty Ltd., Boart Longyear Group Ltd., Herrenknecht AG, Mincon Group plc, Shanghai Hardrock Drills Co. Ltd., Rockmore International Inc., Furukawa Rock Drill Co. Ltd., Numa Tool Company, Drill King International Lp, Gill Rock Drill Company, Mindrill System Solutions Pvt. Ltd., Holte Drilling Manufacturing Co., Rock-Tech International Inc., Sunward Equipment Group.

Asia Pacific was the largest region in the rock drilling equipment market in 2024. North America is expected to be the fastest-growing region in the forecast period. The regions covered in rock drilling equipment report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the rock drilling equipment market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Rock drilling equipment refers to machinery and tools designed to create holes or tunnels in rock surfaces. These tools are equipped with high-strength drill bits and utilize mechanical force, pneumatic pressure, or hydraulic power to break through tough rock layers. They ensure precision and efficiency in rock penetration, adapting to various geological conditions.

The primary products in rock drilling equipment include rotary drilling tools, down-the-hole drilling tools, horizontal drilling tools, handheld drilling tools, and others. Rotary drilling tools are a key component, enhancing versatility, durability, stability, shock absorption, and overall productivity across different drilling applications. These tools are manufactured by original equipment manufacturers (OEMs) and aftermarket providers and are used in industries such as mining, construction, quarrying, oil and gas, and more.

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

The rock drilling equipment market consists of sales of percussion drills, and top hammer drills. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods 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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