Rotary Blasthole Drilling Rig Market Overview:
The global rotary blasthole drilling rig market was valued at $ 2.60 billion in 2017 and is projected to reach $ 3.50 billion in 2025, growing at a CAGR of 3.7% from 2018 to 2025. Rotary blasthole drilling rigs are surface mining equipment used to drill the rock to a certain depth and create blast holes to load the explosives. This process helps in creating quarries and open-pit mines where mining activity can be initiated further. One of the main components of blasthole rigs are "bit", which varies in range for creating the depth and hole diameter.
Rotary Blasthole Drilling Rigs acts as a reliable means to carry mining operations. The initial phase of mining requires blasting the surface to facilitate the deep drilling process. The blasting process creates debris of rocks that are powdered or crushed coarsely to extract the metal or mineral. This process requires rotary blasthole drilling rigs to create blast holes of certain depths to load the explosives. Hence, the demand for these rigs is on the rise at the mining areas.
However, high purchasing, and repair & maintenance cost of rotary blasthole drilling rig is a challenge faced by vendors that affect the market growth.
The global rotary blasthole drilling rig market is segmented based on type, application, and region. Based on type, the market is categorized into mid-range drilling rig, large-range drilling rig, and others. The large-range drilling rig segment is anticipated to dominate the global rotary blasthole drilling rig market throughout the study period. Based on application, the market is divided into quarries, open pit mining, and others. The open pit mining segment is projected to dominate the global rotary blasthole drilling rig market in future owing to higher demand for rotary blasthole drilling rig.
The global rotary blasthole drilling rig market is analyzed across four geographical regions, which include North America (the U.S., Canada, and Mexico), Europe (Eastern Europe, and Western Europe), Asia-Pacific (China, India, Australia, and rest of Asia-Pacific), and LAMEA (Latin America, and the Middle East & Africa). Asia-Pacific is expected to dominate the market throughout the forecast period.
The key players profiled in this report include BAUER, Caterpiller- CAT, Epicor, FURUKAWA, Komatsu Ltd., Nanchang Kama Co., Ltd, Sandvick, Schramm, Sinosteel HYMC, and Sunward.
Key Benefits for Rotary Blasthole Drilling Rig Market:
The study provides an in-depth analysis of the global Rotary blasthole drilling rig market, and current & future trends to elucidate the imminent investment pockets.
Information about the key drivers, restraints, and opportunities and their impact on the market is provided.
Porter's five forces analysis illustrates the potency of buyers and suppliers operating in the industry.
The quantitative analysis of the global rotary blasthole drilling rig market from 2017 to 2025 is provided to determine the market potential.
Rotary Blasthole Drilling Rig Key Market Segment:
Mid-range drilling rig
Large-range Drilling Rig
Open Pit Mining
Rest of Asia-Pacific
Middle East and Africa
Key Market Players Profiled in the Report
Nanchang Kama Co., Ltd