Underground Mining Diamond Drilling - Global Market Outlook (2019-2027)
According to Stratistics MRC, the Global Underground Mining Diamond Drilling Market is accounted for $414.00 million in 2019 and is expected to reach $691.00 million by 2027 growing at a CAGR of 6.6% during the forecast period. Increasing investment in metal mining and growing demand for intelligent drill bits are the major factors propelling the market growth. However, difficulty in the evacuation of waste is hampering the growth of the market.
Underground mining diamond drilling is the process of extracting core samples from the earth. This is an exploratory process that determines the structural strength of mineral composition for construction projects or potential mining. A diamond carries out drill bit is employed in diamond drilling. Diamond coring bits are majorly used in the exploration phase of the mining industry. Rock samples are analyzed by geologists to understand the sub-surface geology. Diamond core drill bits are reliable, as they are made from industrial strength diamonds. These drill bits are unlikely to break or get damaged.
Based on the type, the wireline drilling segment is going to have a lucrative growth during the forecast period owing to the constant demand for these drilling solutions among underground mine operators.
By geography, South America is going to have a lucrative growth during the forecast period due to the increase in investments in the extraction of underground minerals. Countries in South America are beginning to shift to underground mining from open-pit mining. In underground mining, the ore is extracted and the waste rock is left behind. This limits the environmental impact by avoiding the removal of waste rock that has no economic value. The Government of Chile has started investing in underground mining. The country accounts for the largest underground copper deposits in the world.
Some of the key players profiled in the Underground Mining Diamond Drilling Market include Atlas Copco, Boart Longyear, Epiroc AB, FORDIA, Geomachine Oy, Sandvik AB, Sinocoredrill Group Co, VersaDrill Canada, Wuxi Geological Drilling Equipment Co., Ltd, and Zinex Mining Corp.
• Rotary Drilling
• Wireline Drilling
• Hard Rock
• Soft Rock
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
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