Allied Market Research
Increase in the demand for electric vehicles and rise in penetration of advanced technologies drive the growth of the global market.
PORTLAND, OREGON, UNITED STATES, July 25, 2022 /EINPresswire.com/ — The demand for drilling services is expected to increase in metal mining. As rise in production of electric vehicles fuels the adoption of lithium, which is used in the manufacturing of batteries. Increase in the demand for electric vehicles and rise in penetration of advanced technologies drive the growth of the global mining drilling services market.
The demand for drilling services majorly depends on the exploration, production, and development activities conducted by mining companies, specifically with respect to commodities such as gold, copper, and other metals. Drilling services also comprise wide range of drilling technologies such as surface &underground diamond coring, reverse circulation, sonic drilling, and others.
According to the report published by Allied Market Research “Mining Drilling Services Market by Mining Type (Metal, Coal, Mineral, and Quarry): Global Opportunity Analysis and Industry Forecast, 2020–2030.” The global mining drilling services market generated $2.5 billion in 2019, and is estimated to reach $4.4 billion by 2030, registering a CAGR of 6.7% from 2020 to 2030.
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The report offers a detailed segmentation of the global mining drilling services market based on product type and region.
Based on product type, the mineral segment contributed to the largest share in 2019, accounting for nearly two-thirds of the total share, and is estimated to maintain its dominant position during the forecast period. Moreover, the same segment is expected to register the highest CAGR of 6.9% from 2020 to 2030. Furthermore, the metal segment is expected to register the CAGR of 6.3% during the forecast period.
On the basis of mining type, the mineral segment accounted for the highest share in the market, more than half of market, in 2019. In addition, the metal segment accounted for one fourth market share. This is attributed to increase in the demand for lithium, and cobalt owing to rise in adoption of lithium from battery manufacturers.
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Based on region, Asia-Pacific contributed the highest share, accounting for nearly three-fifths of the total market share in 2019, and will maintain its dominance throughout the forecast period. However, LAMEA is expected to grow at the highest CAGR of 7.7% from 2020 to 2030.
The major player studied and profiled in the global mining drilling services Market are BoartLongyear, Ausdrill, Action D&B, PAMA, and Byrnecut Australia.
Get detailed COVID-19 impact analysis on the Mining Drilling Services Market @ https://www.alliedmarketresearch.com/request-for-customization/6668?reqfor=covid
• During the coronavirus pandemic, the mining operations are carried out with the guidelines that have been issued on health screening, personal protective equipment, and social distancing.
• The operations in the mining industry are carried out with minimum numbers of workers as lockdown restrictions ease off. Moreover, the supply chain has been impacted negatively during the lockdown.
Key Market Segments
• By Mining Type
• By Region
o North America
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