Demand for Precious Metals to Boost the Global Mining Drills Market | Technavio

By , in PR PR Economy on .

LONDON–()–The global mining drills market is expected to grow at a CAGR of close of over 3% during the period 2017-2021, according to a new market research study by Technavio.

The report categorizes the global mining drills market by application (surface mining drills and underground mining drills) and by product (hydraulic breakers, rotary drills, crawler drills, and rock breakers). The report also determines the geographic breakdown of the market in terms of detailed analysis and impact, which includes key geographies such as APAC, the Americas, and EMEA.

This report is available at a USD 1,000 discount for a limited time only: View market snapshot before purchasing

Buy 1 Technavio report and get the second for 50% off. Buy 2 Technavio reports and get the third for free.

Market driver: expected increase in demand for precious metals

The demand for precious metals, such as platinum, gold, and diamond, is anticipated to rise during the forecast period. According to the World Bank estimates, crude oil prices are expected to reach pre-crisis levels, which is likely to result in a strong global economy. The strong global economy will drive the employment rate across various countries, resulting in an increase in disposable incomes globally.

According to Gaurav Mohindru, a lead analyst at Technavio for construction research, “Increasing disposable incomes are anticipated to drive the demand for gold and silver, especially among the growing middle-class urban population. Most of this demand is expected to arise from developing nations, such as China and India, where the middle-class population is expected to grow substantially.”

Looking for more information on this market? Request a free sample report

Technavio’s sample reports are free of charge and contain multiple sections of the report including the market size and forecast, drivers, challenges, trends, and more.

Market trend: eco-efficient mining process

Mining can be made environment-friendly by developing new strategies and mining practices, and integrating these practices in mining sites to reduce the harmful environmental impacts of mining operations. The main strategy to reduce the negative environmental impacts of mining is the introduction of mining equipment that emits less harmful particles into the environment. The demand for energy-efficient mining equipment will arise from end-user industries seeking to adhere to stringent emission norms and rein in costs.

Market challenge: increasing popularity of rental mining equipment

The increased use of rental mining equipment can be a potential threat to the demand for new mining drills. The rental practice will prevent mine owners from buying new mining drills and will impact the overall sales of new mining drills. Increased penetration of the rental mining equipment market in emerging markets such as China and India, where mining activities are expected to grow exponentially, will severely impact market growth.

Is your business on track for a successful future? Learn how Technavio can help

Technavio helps businesses anticipate changes in their marketplace, make proactive adjustments, and develop effective strategies to optimize their market positions.

Key vendors in the market

  • Atlas Copco
  • Boart Longyear
  • Caterpillar
  • Komatsu
  • Sandvik

The global mining drills market is fragmented, with the clear dominance of large international players. Manufacturing mining drills require significant initial investments, especially in R&D. Thus, the market is capital-intensive and poses a stiff challenge to local players. Vendors operating in the market experience the maximum demand from the mining sector. Thus, the growth of the mining sector is expected to drive the demand from mining drills during the forecast period.

Get a sample copy of the global mining drills market report free of cost

Access Technavio’s continuously growing construction research library and find expert analysis on hundreds of markets.

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

If you are interested in more information, please contact our media team at [email protected].

The following two tabs change content below.
Maria Burns

Maria Burns

Maria is a Viral News Editor who graduated from the University Of California. She likes social media trends, being semi-healthy, Buffalo Wild Wings and vodka with lime. When she isn’t writing, Maria loves to travel. She last went to Thailand to play with elephants and is planning a trip to Bali.
%d bloggers like this: