Mining Drill Bits Market

Mining drill bits are the cutting or drilling tools that are used to dig or drill earth surfaces for the mining operations. Basically, drill bits are deployed to remove debris or rock materials to create different sizes of holes. There are multiple specialized mining drill bits that could drill holes with a non-circular cross-section. These drill bits are available in multiple shapes and sizes with various kinds of body materials such as tungsten and diamond.

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Increasing demand for underground mining drill equipment, rising blast hole drilling for open-pit mining, and an increase in mining activities due to advanced technologies are some of the key factors responsible for the growth of the global mining drill bits market. Implementation of digital technologies such as the Industrial Internet of Things (IIoT) and automation is transforming mining by making it more productive, safer, efficient, sustainable, and profitable. IIoT allows mining organizations to collect large quantities of data about their operations remotely and in real-time through internet-connected sensors. This data is further used to enhance on-site efficiency, ensure a safe environment for miners, and monitors the operational status of machinery. All these advancements in technology is increasing mining activities. Moreover, increasing mining activities is directly proportional to the accelerating usage of drill bits in mining. Thus, increasing mining activities would enhance the growth of mining drill bits globally. On the other end, the increasing prices of raw materials and multiple government regulations related to mining activities might hinder the growth of the global mining drill bit market.

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Based on type, the market is segmented into rotary bits, fixed cutter bits, roller cone bits, DTH hammers bits, and others. Among these, the DTH hammers bits segment is expected to witness a higher CAGR during the forecast period. This is attributed to the enhanced features of the technology, including robust design, enhance performance at low pressure, high reliability and robustness, ease in service, and high penetration rate.

On the basis of material, the market is segmented into steel, diamond, thermally stable diamond bits, PCD, surface set diamond bits, and tungsten carbide. Among these, the diamond drill bits would witness a higher CAGR during the forecast period. Diamond drill bits are used to extract core samples from the hard concrete environment as compared to conventional drilling methods.

Based on operation, the market is segmented into underground drilling and surface drilling. Among these, underground drilling is expected to lead the market during the forecast period. This is due to the high demand for the extraction of petroleum, natural, gas, salt, and water. Such requirements are increasing the demand for enhanced mining drill bits in order to reduce environmental effects and safe working environment, which boosts the growth of mining drill bits in underground mining.

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On the basis of region, the Asia-Pacific is projected to dominate the market during the forecast period. This is due to the presence of crude oil in countries such as Australia, China, Indonesia, Philippines, and others. This will lead to an increasing number of mining activities in the region, which further drives the growth of the market in the region.

The key players in the market include Caterpillar Inc, Brunner and Lay Inc, Changsha Heijingang Industria Co. Ltd, Epiroc AB, Mitsubishi Materials Corporation, Robit Plc, Rockmore International, Sandvik AB, Western Drilling Tools Inc, and Xiamen Prodrill Equipment Co., Ltd.

The global mining drill bits market has been segmented on the basis of type, material, operation, bit size, and region. Based on type, the market is segmented into rotary bits, fixed cutter bits, roller cone bits, DTH hammers bits, and others. Based on material, the market is segmented into steel, diamond, thermally stable diamond bits, pcd, surface set diamond bits, and tungsten carbide. Based on operation, the market is segmented into underground drilling, and surface drilling. Based on bit size, the market is segmented into up to 150mm, 151–200 mm, 201–250 mm, 251–300 mm, and above 300 mm.

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Key questions answered in this research report:

• • At what pace is global mining drill bits market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in mining drill bits market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the global mining drill bits market?
  • Which type generated maximum revenues in 2019 and identify the most promising types during the forecast period?
  • What are the various materials in global mining drill bits market and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Market Segmentation

Global Mining Drill Bits Market by Type

• • Rotary Bits
    • Fixed Cutter Bits
    • Roller Cone Bits
  • DTH Hammers Bits
  • Others

Global Mining Drill Bits Market by Material

• • Steel
  • Diamond
    • Thermally Stable Diamond Bits
    • PCD
    • Surface Set Diamond Bits
  • Tungsten Carbide

Global Mining Drill Bits Market by Operation

• • Underground Drilling
  • Surface Drilling

Global Mining Drill Bits Market by Bit Size

• • Up to 150 mm
  • 151–200 mm
  • 201–250 mm
  • 251–300 mm
  • Above 300 mm

Global Mining Drill Bits Market by Region

• • North America Mining Drill Bits Market (Option 1: As a part of the free 25% customization)
    • North America Mining Drill Bits Market by Type
    • North America Mining Drill Bits Market by Material
    • North America Mining Drill Bits Market by Operation
    • North America Mining Drill Bits Market by Bit Size
    • US Mining Drill Bits Market All-Up
    • Canada Mining Drill Bits Market All-Up
  • Europe Mining Drill Bits Market (Option 2: As a part of the free 25% customization)
    • Europe Mining Drill Bits Market by Type
    • Europe Mining Drill Bits Market by Material
    • Europe Mining Drill Bits Market by Operation
    • Europe Mining Drill Bits Market by Bit Size
    • UK Mining Drill Bits Market All-Up
    • Germany Mining Drill Bits Market All-Up
    • France Mining Drill Bits Market All-Up
    • Spain Mining Drill Bits Market All-Up
    • Rest of Europe Mining Drill Bits Market All-Up
  • Asia-Pacific Mining Drill Bits Market (Option 3: As a part of the free 25% customization)
    • Asia-Pacific Mining Drill Bits Market by Type
    • Asia-Pacific Mining Drill Bits Market by Material
    • Asia-Pacific Mining Drill Bits Market by Operation
    • Asia-Pacific Mining Drill Bits Market by Bit Size
    • China Mining Drill Bits Market All-Up
    • India Mining Drill Bits Market All-Up
    • Japan Mining Drill Bits Market All-Up
    • Rest of APAC Mining Drill Bits Market All-Up
  • RoW Mining Drill Bits Market (Option 4: As a part of the free 25% customization)
    • RoW Mining Drill Bits Market by Type
    • RoW Mining Drill Bits Market by Material
    • RoW Mining Drill Bits Market by Operation
    • RoW Mining Drill Bits Market by Bit Size
    • Brazil Mining Drill Bits Market All-Up
    • South Africa Mining Drill Bits Market All-Up
    • Saudi Arabia Mining Drill Bits Market All-Up
    • UAE Mining Drill Bits Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Mining Drill Bits Market All-Up

Global Mining Drill Bits Leading Market Players (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • Caterpillar Inc
  • Brunner and Lay Inc
  • Changsha Heijingang Industria Co. Ltd
  • Epiroc AB
  • Mitsubishi Materials Corporation
  • Robit Plc
  • Rockmore International
  • Sandvik AB
  • Western Drilling Tools Inc
  • Xiamen Prodrill Equipment Co., Ltd