Borehole Equipment Market by Product, Application, Region 2017-2024

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Borehole Equipment Market to grow at 5.5 CAGR
over 2017-2024
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Key Insights from Borehole Equipment Market

• 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.
• High demand for boring and exploration along with
  growing developments in mining sector are key
  factors supporting market growth. Machine
  upgradation along with shifting mining companies
  focus towards maximum productivity will offer
  lucrative business opportunities in the coming
  years.
• 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.

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Continued...

• North America accounted for more than 30 of the
  industry share in 2016. 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.
• 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.
• Hydraulic operations will witness growth over 6
  up to 2024. High load carrying capacities along
  with accuracy and ease in controlling are key
  properties driving product demand. Supplying
  constant torque and force during the operation
  both in mining and infrastructure makes the
  product highly demanding.

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Continued...

• 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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U.S. Borehole Equipment Market, By Product, 2016
2024 (USD Million)

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Major Companies in Borehole Equipment Market

• Bohrmeister (Pty) Ltd.
• Dando Drilling International
• Borehole Machinery
• 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 RD investments and technological
  innovations are some of the strategies adopted by
  the service providers of the market.

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Regional Insights in Borehole Equipment Market

• Europe accounted for over 15 of the industry
  share in 2016. Rapid urbanization in Germany,
  UK, France Russia will propel the industry
  demand. As per analysis, urban population in UK
  is expected to surpass 80 by 2030. Urban
  population growth enhancing the construction will
  fuel regional industry growth.
• Asia Pacific is the fastest growing region with
  CAGR over 6 up to 2024. Changing demographic
  trends including rapid growth in global
  population has enhanced the construction
  necessity.

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