CATEGORY
Drilling Equipment and Consumables
Drilling equipment and consumables are used in mining sites to drill holes and consumables are used for uninterrupted drilling activity.
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Drilling Equipment and Consumables Industry Benchmarks
Savings Achieved
(in %)
The average annual savings achieved in Drilling Equipment and Consumables category is 6.30%
Payment Terms
(in days)
The industry average payment terms in Drilling Equipment and Consumables category for the current quarter is 52.5 days
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Category Strategy and Flexibility
Engagement Model
Supply Assurance
Sourcing Process
Supplier Type
Pricing Model
Contract Length
SLAs/KPIs
Lead Time
Supplier Diversity
Targeted Savings
Risk Mitigation
Financial Risk
Sanctions
AMEs
Geopolitical Risk
Cost Optimization
Price per Unit Competitiveness
Specification Leanness
Minimum Order Quality
Payment Terms
Inventory Control
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Drilling Equipment and Consumables market report transcript
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
Market Size and Trend
- Gold, silver, and copper mining, along with exploration projects, were among the key commodities that continued to recover from impact of the pandemic, which drive the demand for mining equipment and consumables market.
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 mining 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
Drilling Tools Market Overview
- Mining drilling equipment components are sourced from multiple vendors and supplier power towards equipment is medium due to the fragmented nature of the supply nature.
- The global drilling tools market is highly concentrated with Atlas Copco and Sandvik controlling around 54 percent of the drilling equipment market.
- Many Tier-2 and 3 brands are available but performance is suspect.
- High intensity of rivalry due to the presence of large number of global and domestic players.
- Since high capital investment is required, new entrants find it difficult to enter the market.
- The mining drilling equipment market is a consolidated one and the new suppliers will take years to be on par with performance and product portfolio of Tier-1 brands.
- The mining drilling equipment cannot be replaced by others due to the (highly) specific nature of operations, which demand usage of sophisticated drilling equipment to suit the mining conditions.
- The future of mining consumables and equipment lies in automation and technological developments centered around reducing man-power and improving productivity. Only a few suppliers have this advanced capability.
- Many Tier-2 and 3 brands are available but performance is suspect.
- High intensity of rivalry due to the presence of large number of global and domestic players in the drilling tools market.
- Mining drilling equipment cost structure pricing by suppliers is done based on raw material prices and demand of the drilling equipment.
Why Should You Buy This Report
- Information about mining drilling equipment market size and trends, regional overview, outlook, drivers and constraints, market driver analysis, etc.
- Porter’s five force analysis of the global mining consumables and drilling tools market.
- Supply trends, market share and SWOT analysis of major players like Atlas Copco, Sandvik, Caterpillar, etc.
- Cost structure analysis, cost and price drivers analysis.
- Best procurement models, sourcing channels best practices in the mining drilling equipment industry and risk analysis.