Global Mining Drills Market 2017-2021
About Mining Drills
A mining drill is a tool used for digging, drilling, and breaking rocky and hard surfaces for mining purposes. Mining is the method of extracting valuable metals, minerals, rocks or other geological materials from the earth in the form of vein, seam, reef, lode, orebody or placer deposits. These extracted materials form a mineralized packaged, which is profitable for the miner. Mining is done with the help of mining equipment, such as dozers, loaders, borers, mining drills, stationary and portable crushers, hydraulic pumps, dryers, feeders, conveyor belts, and compressors.
Technavio’s analysts forecast the global mining drills market to grow at a CAGR of 3.16% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global mining drills market for 2017-2021. The report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global MIning Drills Market 2017-2021
Technavio recognizes the following companies as the key players in the global mining drills market: Atlas Copco, Boart Longyear, Caterpillar, Komatsu, and Sandvik.
Other Prominent Vendors in the market are: AARD Mining Equipment, CME, FURUKAWA, Guizhou Sinodrills Equipment, Mindrill Systems & Solutions, REVATHI EQUIPMENT, Rockdrill Services Australia, Rockmore International, Sulzer, and TEI Rock Drills.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is automation in mining. Mining companies are exploring ways to reduce the cost and time associated with mining activities. The mining industry is transitioning toward automation. Automation not only helps in reducing the cost and time involved in mining operations, but also improves productivity and safety in mining sites, and helps streamline operations. With the help of automation, mine owners can collect data related to the performance of the mining equipment.”
According to the report, one driver in the market is expected increase in demand for precious metals. The demand for precious metals, such as platinum, gold, and diamond, is anticipated to rise during the forecast period. According to the World Bank estimates, crude oil prices are expected to reach pre-crisis levels, which is likely to result in a strong global economy. The strong global economy will drive the employment rate across various countries, resulting in an increase in disposable incomes globally. Increasing disposable incomes are anticipated to drive the demand for gold and silver, especially among the growing middle-class urban population. Most of this demand is expected to arise from developing nations, such as China and India, where the middle-class population is expected to grow substantially.
Further, the report states that one challenge in the market is environmental regulations for mining activities. Mining has many negative impacts on the environment, such as the formation of sinkholes, loss of biodiversity, soil erosion, land pollution, and erosion of exposed hillsides. In addition, mining affects the health of people residing near mining sites and leads to the contamination of groundwater and surface water. Also, mining activities disturb the wilderness area surrounding the mining site by causing disturbance and destruction to the ecosystem and habitats. Hence, mining companies worldwide are forced to comply with strict environmental regulations or even ban mining activities during a certain period of the year.
Atlas Copco, Boart Longyear, Caterpillar, Komatsu, Sandvik, AARD Mining Equipment, CME, FURUKAWA, Guizhou Sinodrills Equipment, Mindrill Systems & Solutions, REVATHI EQUIPMENT, Rockdrill Services Australia, Rockmore International, Sulzer, and TEI Rock Drills.