The global diamond core drilling market is holding a valuation of USD 2 Billion as of 2023. The market is expected to grow at a CAGR of 6.3% from 2023 to 2033, and the market is expected to reach USD 3.7 Billion by 2033.
Several Aspects that are Anticipated to Accelerate Market Expansion Include
One of the key elements driving up demand for diamond core drilling systems is population expansion. A rise in construction activities has been brought on by an increase in population.
Countries are carrying out infrastructural activities which have led to a positive diamond core drilling impact on the construction industry. In addition, people move from rural sections of countries to urban ones because of the opportunities there.
Furthermore, an increase in the number of mining activities is also being witnessed. Sales of diamond core drilling may increase if non-renewable energy sources are increasingly used and other commodities such as zinc, diamond, and gold are increasingly used.
Governments across the world are making massive investments which are expected to have a massive impact on the market. For example, in January 2022, Drillmec decided to invest USD 200 Million in Hyderabad for setting up an oil rig manufacturing hub. In July 2022, the US government was in a process of developing a plan which could allow offshore drilling in the Gulf of Mexico.
Apart from that, there are a number of projects which are being implemented for the exploratory wells. Furthermore, the diamond core drilling machine offers excellent mechanical properties as compared to other forms of drilling machines. In addition to reducing the risk of fractures, this machine also assures sharp and accurate holes. These are one-stop effective replacements for chisels, drilling tools, hammer drills, etc.
The rising adoption of automation across sectors is expected to open a plethora of opportunities for the market. Companies have now started thinking beyond diamond core drilling traditional tools. The ability to sort diamonds based on color and clarity makes work a lot easier.
AI-powered diamond core drillers operate with higher efficiency and demand less interference. The ability to track specific stones through blockchain and other cloud-based programs might surge the market share of diamond core drilling machines.
Based on the regional analysis, Asia Pacific is expected to hold the largest market share during the forecast period. Government initiatives that mainly focus on infrastructural development and increase in disposable income are the main factors driving this market. North America and Europe are expected to be crucial markets during the forecast period.
| Attributes | Value |
|---|---|
| Diamond Core Drilling Market Value (2022) | USD 1.9 Billion |
| Diamond Core Drilling Market Value (2023) | USD 2 Billion |
| Diamond Core Drilling Market Forecast Value (2033) | USD 3.7 Billion |
| Diamond Core Drilling Market Expected CAGR (2023 to 2033) | 6.3% |
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The historical CAGR for the market was 5.5%, while the anticipated CAGR is 6.3%. The increase in the CAGR is attributed to the increase in construction activities worldwide. Furthermore, technological developments in the mechanical sector ensure that diamond core drilling devices operate at greater efficiency.
Growing mineral production activities across the globe are projected to aid the growth of mining equipment in the global market. According to the World Mining Data report, global mineral production rose to USD 17.7 Billion metric tons in 2020 from 16.9 Billion metric tons in 2016.
With India producing over 95 minerals, demand for automated drilling machines is expected to bolster market growth over the coming years. Underground mining activities might increase the mineral production rate, especially across the USA and Germany. These factors would certainly surge the adoption of diamond core drilling machines.
The expansion of the mining industry across developing economies is increasing the production of materials such as diamond, coal, tin, copper, etc. This will spur the growth of the underground mining segment, driving the demand for diamond core drilling machines.
Principal Consultant
The high cost of automated and customized drilling machines is expected to act as an entry barrier for the new players in the market. Additionally, the expansion of underground mining activities is resulting in an increased rate of fatalities and illness among workers.
Due to the growing rate of accidents and fatalities in the mining industry, production and work efficiency are affected, indirectly affecting sales. Due to the increased number of illnesses, workers in developing economies are delaying starting new jobs. This has increased the demand for complete automation in the mining industry.
Precision and efficiency achieved with the help of hand-held drilling machines are not the same as with rig-operated drilling machines. Apart from that, the application of these machines leads to a lot of noise pollution, which might as well challenge the market growth
| Region | North America |
|---|---|
| Country | USA |
| CAGR (2023 to 2033) | 3.1% |
| Region | Europe |
|---|---|
| Country | UK |
| CAGR (2023 to 2033) | 7.5% |
| Region | Asia Pacific |
|---|---|
| Country | China |
| CAGR (2023 to 2033) | 10.5% |
| Region | Asia Pacific |
|---|---|
| Country | Japan |
| CAGR (2023 to 2033) | 5.4% |
| Region | Asia Pacific |
|---|---|
| Country | South Korea |
| CAGR (2023 to 2033) | 7.6% |
The USA market is anticipated to dominate the North American region, estimated by FMI. Given the high adoption of drilling machines in the USA construction industry, the market is expected to register healthy growth.
The adoption of technologically advanced and automated drilling machines to improve the infrastructure will accelerate the demand. The USA is the world’s second-leading producer of coal, accounting for nearly 17% of world production, as per National Mining Association.
| Attributes | Details |
|---|---|
| USA Market Expected Size (2033) | USD 324.3 Million |
| USA Market Absolute Dollar Growth (USD Million/Billion) | USD 86.3 Million |
| CAGR % 2017 to 2022 | 3.7% |
With increasing mining activities in the country, demand for automated drilling machines is expected to increase in the coming years. Every year around 1 Billion tons of coal is produced in the USA
Results from polls released by National Mining Association find that the production of raw minerals and materials is expected to increase in the next ten years. With the rising application of diamond core drilling machines in the mining industry, sales are expected to increase in the forthcoming years.
Over the next few years, the automation industry is anticipated to experience growth due to technological advancements. The country's building and mining industries should resume since this will raise the use of diamond core drilling equipment and boost output.
| Attributes | Details |
|---|---|
| UK Market Expected Size (2033) | USD 110.5 Million |
| UK Market Absolute Dollar Growth (USD Million/Billion) | USD 56.9 Million |
| CAGR % 2017 to 2022 | 7.9% |
The UK remains an important mining country within Europe. The majority of mineral resources mined in the country are diamonds, hard coal, and crude oil. Given that Russia was one of the major oil suppliers, it is now anticipated that mining operations will increase as a result of escalating tensions with Russia. With the increasing application of diamond core drilling machines in the mining industry across the UK, growth is expected to drive growth over the coming years.
China is estimated to hold significant shares in the diamond core drilling market, opines Future Market Insights. Rapid development in underground mining activities across China will propel the growth of the market.
The Advent of COVID-19 halted the production and mining activities in the country, which affected the sales of diamond core drilling machines significantly. However, the current economic conditions are steady in China.
| Attributes | Details |
|---|---|
| China Market Expected Size (2033) | USD 605 Million |
| China Market Absolute Dollar Growth (USD Million/Billion) | USD 382.9 Million |
| CAGR % 2017 to 2022 | 8.6% |
The recommencement of the construction and mining industry is expected to turn the growth of the diamond core drilling market into an upward trajectory. To recover from the economic loss, the government in China is increasingly investing in mineral production, construction, and infrastructural activities.
Rising construction and infrastructural activities, albeit with all the safety protocol against COVID-19, is expected to directly impact sales.
In 2022, the Japanese metals and mining industry had a total revenue of close to USD 91 Billion. After two years of gap, the market is expected to increase at a massive growth rate owing to huge investment in this sector.
| Attributes | Details |
|---|---|
| Japan Market Expected Size (2033) | USD 168.5 Million |
| Japan Market Absolute Dollar Growth (USD Million/Billion) | USD 68.7 Million |
| CAGR % 2017 to 2022 | 5.9% |
Apart from investing in their own country, the key players from Japan are investing huge sums of money in Congo. In December, Congo and Japan closed a deal to cooperate in rare earth mineral mining.
The focus would be mainly on the extraction of Cobalt, which is used in Lithium-ion batteries. Just before this move, the Japanese government called for a USD 24 Billion investment for boosting battery competitiveness. All in all, the Japanese market seems to be following a balanced approach and is expected to post an above-average growth rate.
The South Korean market is expected to grow owing to a massive investment in the oil and gas sector. There has been a burgeoning demand for petrochemicals in particular.
| Attributes | Details |
|---|---|
| South Korea Market Expected Size (2033) | USD 98.5 Million |
| South Korea Market Absolute Dollar Growth (USD Million/Billion) | USD 51.2 Million |
| CAGR % 2017 to 2022 | 6.3% |
The downstream sector has been witnessing rapid growth over the past few years. This is owing to the rise in demand for gasoline and diesel, especially in the transportation sector. In August 2022, Kumho Petrochemical told that it had planned to invest close to KRW 3 trillion for expanding the capacity of NB latex. Apart from that, even LG Chem announced that it plans to spend close to KRW 2.6 trillion for PBAT and POE plants.
India is home to 1,531 operating mines and produces 95 minerals every year, as per the Make In India report. Increasing underground mining activities and the production of minerals across the country are expected to bolster the growth of the diamond core drilling market.
With the unprecedented outbreak of COVID-19, the construction and mining industry suffered major losses which directly impacted the sales of the diamond core drilling market. However, with relaxations in restrictions and the resumption of the construction and mining industry, the market is expected to witness growth.
Despite the halt in construction and production activities, coal production in India increased by 7.4% in June 2021 over June 2020. With surging mining activities across India, the adoption of diamond core drilling machines might increase.
Alongside this, the presence of steel and coal companies in India is expected to bolster the adoption of diamond-core drilling machines. Favorable government policies to improve the infrastructure and increase the mineral production rate, which would aid in market growth.
In June 2021, Energy Efficiency Services Ltd (EESL) signed an MoU with MECON Ltd. to support energy efficiency in the steel and mining industry. Also, the government reduced customs duty to 7.5% to provide relief to medium and small-sized industries.
These initiatives are expected to aid the adoption of rig-operated drilling machines which are efficient but expensive. Furthermore, increasing construction activities across India to improve the infrastructure in rural areas will spur the growth of the diamond core drilling market.
According to National Investment and Promotional Agency report, the real estate industry might reach USD 1 Tn by 2030, contributing 13% of GDP. With increasing construction activities and demand for automated drilling machines from the construction industry, sales of diamond core drilling machines might increase.
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| Segment | Operation Type |
|---|---|
| Attributes | Rig Operated |
| CAGR % 2017 to 2022 | 5.4% |
| CAGR % 2023 to End of Forecast(2033) | 6.2% |
| Segment | Drilling Technique |
|---|---|
| Attributes | Stitch Drilling |
| CAGR % 2017 to 2022 | 6.2% |
| CAGR % 2023 to End of Forecast(2033) | 6.9% |
Stitch drilling is one of the most significant drilling techniques used by contractors and end-users in the construction and mining industries. Implementation of stitch drilling techniques provides high precision and efficiency even in inaccessible areas.
Diamond drilling can easily be accomplished with the help of stitch drilling techniques as it is crucial for creating precise and bigger openings. It is an excellent option for confined spaces and is considered as one of the most indispensable drilling techniques. According to Future Market Insights, the stitch drilling segment is expected to consume a majority value share of the global diamond core drilling market.
With increasing fatalities during mining across the globe, governments worldwide are forcing the business-owners to work on the safety aspect.
According to International Labor Organization, over 1 Million work-related deaths occur annually from accidents and exposure to hazardous substances. Due to stringent safety regulations for underground and surface mining, rig-operated drilling machines are gaining popularity among workers.
Besides the workplace safety norms, automation and customization in rig-operated drilling machines are increasing their adoption within end-use industries. Additionally, improved quality and enhanced drilling capability with precision are furthering the adoption.
However, due to the high-cost barrier, handhold drilling machine sales are expected to outgrow that of rig-operated machines in developing economies.
In terms of end-user, the construction industry will exhibit the highest growth rate during the forecast period. Growth is driven by increasing building innovation and government-proposed policies and plans to connect rural areas to urban in developing economies.
Increased spending on building and infrastructure by the government in developing nations is expected to create growth opportunities for manufacturers in the upcoming years.
However, with an upsurge in mineral production rate, the application of diamond core drilling in the mining industry, especially in developing nations, will spur sales. An increase in the demand for minerals such as diamond, gold, zinc, lead, and uranium will continue to aid the adoption of diamond core drilling machines.
Consequently, as reused diamond core drilling machines offer huge cost benefits, end users are hesitating to invest heavily in brand-new machines. Due to this, manufacturers of diamond core drilling machines are compelled to integrate advanced technology and customization to generate sales.
With the surging application of automated diamond core drilling machines in the mining industry, sales are expected to increase in the forthcoming years. As per FMI, the open pit mines segment is expected to lead the market, growing at over 6.4% CAGR during the forecast period.
The start-ups associated with the diamond core drilling market are working towards developing innovative drilling techniques, like directional drilling. They are providing diamond core drilling power tools and real-time monitoring for all kinds of drilling, including offshore projects. Using this technology, they are enabling savings for oil and gas companies by reducing AFE.
Raptor Rig has been offering fully automated drilling rigs for the oil and gas industry. The start-up has developed a style jointed pipe rig that maintains simultaneous connections with the oil rig. Furthermore, the rig platform developed by the start-up reduces drilling time and eliminates the need for workers on the drilling rig floor. In April 2019, CellCube announced Enercube's sale to Raptor Rig.
The key players working in the diamond core drilling market are working on technology that enhances tool park management. This would help in driving the performance levels of the company and also improves overall health protection. For example, Hilti launched Nuron which is a cordless platform that simplifies the work on construction sites and ensures safe health for workers.
Some of the Recent Developments are
| Company | Description |
|---|---|
| Hilti | Hilti has always laid a lot of emphasis on quality, innovation, and direct customer relationships. Having a presence in over 120 countries, and employing more than 32,000 workers, they believe in making work on construction sites simpler and safer. They make use of products, system solutions, software, and services that provide value. The company invests 6% of its sales revenue in Research and Development. From product development to manufacturing, logistics, sales, and services, the company covers the entire value chain. Hilti’s strategic objective is to create sustainable value creation through market leadership and differentiation. |
| Atlas Copco | Atlas Copco has been delivering lasting results in a way that is economically, environmentally, and socially responsible. Their innovative products and solutions enable everything from food production to space travel. Atlas Copco serves customers across 180 countries. They are pioneers in technology and engineering, with expertise relied upon by all industries. Their industrial ideas enable customers to grow and drive society forward. Their market-leading products and services help customers optimize their full productivity, reduce their costs, and lower carbon emissions as well. |
| WEKA Elektrowerkzeuge KG | WEKA Elektrowerkzeuge KG has been serving the sector for more than three decades. The company has the image of producing high-quality electric tools, which include diamond core drills, diamond saws, diamond drill rigs, etc. Their core competencies lie in the development and design, motor production, and manufacturing of electronic controls. The products are sold by distributors worldwide. Their aim is to be ahead of machines off the shelf. The company is closely connected to Black Forest Nature, is traditionally economical, and works on the idea of sustainability. |
The global diamond core drilling market holds a valuation of USD 2 Billion as of 2023.
The diamond core drilling market is expected to grow at 6.3% CAGR during 2023 to 2033.
The global diamond core drilling market is forecasted to surpass USD 3.7 Billion by 2033.
Asia Pacific is the largest diamond core drilling market.
The main drivers are: ability to work with high precision and surging construction sector.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2017 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Operation Type 5.1. Hand Held 5.2. Rig Operated 6. Global Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Drilling Technique 6.1. Stitch Drilling 6.2. Underwater Diamond Drilling 6.3. Surface Drilling 6.4. Underground Drilling 7. Global Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Drilling Type 7.1. Rotary Drilling 7.2. Wireline Drilling 8. Global Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By End Use 8.1. Construction Industry 8.2. Mining Industry 8.2.1. Open Pit Mines 8.2.2. Closed Pit Mines 9. Global Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Region 9.1. North America 9.2. Latin America 9.3. Europe 9.4. East Asia 9.5. South Asia 9.6. Oceania 9.7. Middle East and Africa (MEA) 10. North America Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Country 11. Latin America Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Country 12. Europe Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Country 13. East Asia Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Country 14. South Asia Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Country 15. Oceania Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Country 16. MEA Market Analysis 2017 to 2022 and Forecast 2023 to 2033, By Country 17. Key Countries Market Analysis 18. Market Structure Analysis 19. Competition Analysis 19.1. Hilti Corporation 19.2. Atlas Copco 19.3. WEKA Elektrowerkzeuge KG 19.4. Robert Bosch GmbH 19.5. Boart Longyear 19.6. Elektrowerkzeuge GmbH Eibenstock 19.7. MASSENZA Drilling Rigs Srl 19.8. Milwaukee Tool 19.9. Controls S.p.A 19.10. Epiroc Mining India Limited 19.11. KERN-DEUDIAM Diamantwerkzeuge und Maschinen GmbH 19.12. Shibuya Company, Ltd. 19.13. APC Drilling & Constructions Private Limited 19.14. ROCKDRIL (INDIA) 19.15. Husqvarna AB 20. Assumptions & Acronyms Used 21. Research Methodology
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Diamond Core Drilling Market
