Portable Borehole Equipment Market to generate revenue over USD 6 billion by 2024
SELBYVILLE, Del., June 25, 2018 /PRNewswire-iReach/ -- Fixed borehole equipment market will witness over 5% CAGR up to 2024. Increased demand from industrial sector including oil & gas and mining have positively fuelled demand. Global Borehole Equipment Market size is estimated to exceed USD 27 billion by 2024. Increase in infrastructure spending due to positive economic growth will drive overall borehole equipment market growth. Large scale infrastructure investment projects in Europe and MEA will influence industry demand.
Increasing mineral extraction in the U.S., Venezuela, Indonesia, Nigeria, China, and Canada are among the major factor contributing product penetration. Rising onsite processing necessities coupled with huge untapped hydrocarbon reserves in Mexico are projected to propel borehole equipment market growth.
North America accounted for more than 30% of the industry share. Upcoming large-scale mining projects coupled with increase in construction of high-rise buildings in New York will positively influence the North America borehole equipment market growth.
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Portable borehole equipment is projected to generate over USD 6 billion in revenue by 2024. Rising demand for mobile construction & mining equipment has enhanced the product demand. Benefits including easy transportability and performing task in remote locations are among the major influencing properties.
Mining will hold more than 60% of the industry share by 2024. Depletion of natural resources including minerals, coal and oil has encouraged the exploration, thus driving industry demand. Extensive excavation for geologically deposited substances, diamond, uranium and stones will propel the product demand in this segment.
Increased metal consumption including steel, aluminum, copper, nickel, lead, zinc and tin in several industries will propel the industry growth in APAC region. Strong demand for metal, particularly steel in numerous end-use industries including construction, energy, transport, packaging and appliances in emerging economies will stimulate business growth. Growing domestic demand for coal signifies a positive outlook for borehole equipment demand in China and India.
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Some of the key industry manufacturers include Bohrmeister (Pty) Ltd., Dando Drilling International, Borehole Machinery and Getech International. Global industry share is highly fragmented owing to the presence of many service providers. Major services provided by the company include core logging, well logging and mud logging. Boart Longyear, Major Drilling, Foraco, Energold and Orbit Garant are some of the dominating industry players. Heavy R&D investments and technological innovations are some of the strategies adopted by the service providers of the market.
Chapter 2. Executive Summary
2.1. Borehole equipment industry 3600 synopsis, 2013 - 2024
2.1.1. Business trends
2.1.2. Product trends
2.1.3. Operation trends
2.1.4. Application trends
2.1.5. Regional trends
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Chapter 3. Borehole Equipment Industry Insights
3.1. Industry segmentation
3.2. Industry landscape, 2013 - 2024
3.3. Industry ecosystem analysis
3.3.1. Distribution channel analysis
3.3.2. Profit margin trends
3.3.3. Vendor matrix
3.3.3.1. Key player's role
3.3.3.2. Product portfolio
3.3.3.3. Global presence
3.4. Technology landscape
3.4.1. Key drilling techniques
3.4.1.1. Auger drilling
3.4.1.2. Rotary air blast(RAB) drilling
3.4.1.3. Air core drilling
3.4.1.4. Cable tool drilling
3.4.1.5. Reverse circulation(RC) drilling
3.4.1.6. Others (Direct push rigs, hydraulic rotary drilling)
3.5. Borehole equipment, by components
3.5.1. Drill bits
3.5.2. Pumps & cables
3.5.3. Augers
3.5.4. Supply pipe
3.5.5. Others
3.6. Regulatory landscape
3.6.1. U.S.
3.6.2. Europe
3.6.3. China
3.6.4. MEA
3.6.5. Australia
3.7. Industry best practices & key buying criteria
3.8. Pricing analysis, by region
3.8.1. North America
3.8.2. Europe
3.8.3. Asia Pacific
3.8.4. Latin America
3.8.5. MEA
3.8.6. Cost structure analysis
3.9. Innovation & sustainability
3.10. Industry impact forces
3.10.1. Growth drivers, by region
3.10.1.1. North America
3.10.1.2. Europe
3.10.1.3. Asia Pacific
3.10.1.4. Latin America
3.10.1.5. MEA
3.10.2. Industry pitfalls & challenges
3.11. Global construction industry overview
3.11.1. Overview of infrastructure spending, by region
3.11.1.1. Europe
3.11.1.2. LATAM
3.11.1.3. Australia
3.11.2. Key upcoming infrastructure projects
3.12. Growth potential analysis, 2016
3.13. Competitive landscape, 2016
3.13.1. Market share analysis, 2016
3.13.2. Key stakeholders
3.13.3. R&D trends
3.13.4. Strategy dashboard
3.13.4.1. Expansion through supply agreements, mergers, and joint ventures
3.14. Porter's analysis
3.15. PESTEL analysis
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