Drilling Equipment and Consumables Market Intelligence

Drilling Equipment and Consumables Market Description

The global demand for drilling equipment is anticipated to be driven by factors such as an elevated demand in exploration activities coupled with robust technology-based effective drilling solutions. The global drill equipment market consolidated with major OEMs such as Atlas Copco, Sandvik, and Caterpillar, thus capturing 80 percent of the market share, while the remaining is constituted by other service providers such as Boart Longyear. The shift of market focus on consumer preferences such as partnering equipped with technology suppliers has witnessed an emerging trend in regions such as Canada and Australia to optimize the total cost of buyers’ ownership.

The report also provides an overview of the drilling equipment and consumables market in regions such as North America, South America, Africa, APAC, and Australia, followed by major trends impacting the industry. It also provides an overview of the market drivers and constraints impacting the industry, followed by an overview of the exploration spend across different regions. It also provided Porter’s five forces analysis on factors such as supplier power, buyer power, barriers to new entrants, the intensity of rivalry, and the threat of substitutes.

Beroe gathers intelligence through primary sources that include industry experts, researchers, and consultants, as well as current suppliers, producers and distributors. Secondary sources can include business journals, newsletters, magazines, market research data, company sources, and industry associations. Following data collation, analysis, and strategic review, the Final Research Report is published on Beroe LiVE.

Report Coverage

Global Drilling Equipment - Industry Trends
Market Driver Analysis - Exploration Spend
Supply Trends and Insights
Key Global Suppliers

Drilling Equipment and Consumables Market Trend, Analysis & Forecast

Category Intelligence on Drilling Equipment and Consumables covers the following

Information relating to market, supply, cost, and pricing analysis
Hard to find data on cost and TCO models, supplier details, and performance benchmarks
Macroeconomic and regional trends impacting cost, supply, and other market dynamics
Category-specific negotiation and sourcing advice

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Executive Summary

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Market Analysis

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Supply Analysis

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Cost & Pricing Analysis

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Best Practices

Global Market Outlook on Drilling Equipment and Consumables

Commodity price increase coupled with declining ore heads are the key market drivers
Shift of market focus in consumers preference in partnering equipped with best technology suppliers have been witnessed as an emerging trend in major regions such as Australia, Canada to optimize the buyer’s total cost of ownership

drilling-equipment-and-consumables-market-size

Market Size and Trend

Global demand for drill equipment is expected to grow at a moderate CAGR of 1.8–2.2 percent until 2019, driven by increase in exploration activities owing to elevated commodity price. The elevated demand in exploration activities coupled with robust technology-based effective drilling solutions are expected to impact the drill equipment industry positively over the forecast period
Asia Pacific is expected to account for 55–60 percent of the drill equipment market in 2016 in terms of revenue. China, a major mining country is expected to dominate the production drill equipment market with growth rate of around 3-4 percent until 2018; and other emerging economies of South East Asia is expected to grow at a CAGR of around 6 percent during the same period
The global drill equipment market consolidated with major OEMs such as Atlas Copco, Sandvik, and Caterpillar capturing 80 percent of the market share while remaining is constituted by other service providers such as Boart Longyear

Global Drilling Equipment - Market Drivers and Constraints

Drivers

Increase in Commodity Demand/Price:

Commodity demand is a result of the global economic situation. The average commodity price is expected to grow between 5 percent and 6 percent until 2017. Increase in commodity demand will drive up the market for production and exploration drilling equipment.

Decrease in ore grades at mine (surface and underground mining):

Falling in ore grades results in increased exploration activity, which in turn, acts as a driver for the rise in demand from the drilling equipment segment. In South America, a key mining region, copper and gold head grades are expected to decline by 21 percent and 18 percent, respectively, during 2014–2024

Constraints

Mining Slowdown:

Reduction in mineral output from mines and closure of high cost mining operations due to the current mining industry slow down is adversely impacting drilling equipment and consumables demand

Reducing Exploration Spend:

Reduction is exploration spend in new mining activities across all major mining regions has severely impacted the demand for exploration drilling equipment. The spend in mineral exploration has decreased by 19 percent in Asia and around 12 percent in Australia in 2016

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