Core Drill Market is expected to foresee significant growth. Asia-Pacific to witness highest growth, owing to growing construction and infrastructure industry!
- Himanshu Patni
- November 19, 2021
- MINING & MACHINERY, NEWS
- Core Drill Market, Core Drill Market growth, Core Drill Market share, Core Drill Market size, Core Drill Market trends
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Core Drill Market is expected to grow at a CAGR of around 8% during the forecast period 2021-2027. Core drilling is a fast, accurate and clean way to drill holes in concrete and is usually listed as a basic service by most concrete-cutting experts. As technology, machinery, and methods have steadily improved over time, the size and scope of what builders can create has rapidly accelerated. Core drilling is the process of drilling below the earth’s surface to obtain a core of soil or rock sample to determine its properties. Core drilling is an important part of geotechnical site investigation that is carried out for the planning and construction of sub-surface structures such as tunnels and pipelines. Any construction project will inevitably require crews to core drill concrete.
The core drilling market is projected to display upward revenue graph over the forecast period. The core drilling market gains from a slew of applications of diamond core drilling including plumbing, drainage, electrical, manholes, structural testing, and HVAC. Core drilling is preferred as it is a more accurate, faster, and efficient method of drilling concrete, masonry, asphalt, and steel structures. Large projects for exploration of exploratory wells for their mineral compositions is providing immense growth opportunities to the core drilling market, such initiatives are expected to increase with ever-growing energy needs. For instance: there are more than 65,000 oil and gas fields of all sizes in the world. Further, the construction market is also expected to boost the core drilling market over the analyzed period.
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Based on product, the Core Drill Market is segmented into Hand-held Core Drill, Core Drill Rig. Need for customization and automation among end-users have paved the way for novel automated rig-operated drilling machines to enhance productivity. Some of the benefits of the Rotary Drilling Rigs include increased flexibility, higher automation, faster drilling, among others. Based on Bits type, Dry Core Bits, Wet Core Bits. Dry Core Bits is expected to witness significant growth during the analyzed period. Drill bits are one of the important tools for any drilling operation. They are used for cutting the rocks for drilling of any oil and gas well. The drill bit has a rotating apparatus which cuts the rock.
Based on Coating material, the market is bifurcated into Diamond Coated, Carbide Coated. Diamond Coated drilling tools owing to its hardness nature is expected to witness significant growth during coming years. Based on Size, the market is segmented into Small Core drill, Medium-sized Core drill, Large Core drills. Residential end-user can use a small core drill at home, while a powerful, medium-sized drill can be used for buildings and mines. Large drills are usually used for the cutting of concrete on massive construction projects. Based on application, the Core Drill Market is segmented into Residential, Building and Mines, Construction & Infrastructure. The value of global construction industry is projected to reach nearly EURO 8.6 (US$ 10) trillion by the end of 2020. Interestingly, East Asia and Europe cumulatively hold a noteworthy share in the same.
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For a better understanding of the demand of Core Drill, the market is analyzed based on its worldwide presence in the countries such as North America (United States, Canada, Rest of North America), Europe (Germany, UK, France, Italy, Rest of Europe), Asia-Pacific (China, Japan, India, Australia, Rest of APAC), and Rest of World. North America dominated the market in 2020. For instance: Alaska LNG: The Alaska LNG Mega-project will be one of the world’s biggest natural gas developments. Located in the industrial town of Nikiski, on Alaska’s Kenai Peninsula, the project includes a full LNG liquefaction plant, a storage and shipping terminal, an 800mile pipeline running from the North Slope to the facility and a gas treatment plant. Some of the major players operating in the market include Husqvarna AB, Hilti Corporation, Makita Corporation, Pentruder UK Ltd, Milwaukee Electric Tool Corporation, Tyrolit, B+BTec, WEKA Elektrowerkzeuge KG, Ramset, LISSMAC Maschinenbau etc.
Global Core Drill Market Segmentation
Market Insight, by Product
- Hand-held Core Drill
- Core Drill Rig
Market Insight, by Bits Type
- Dry Core Bits
- Wet Core Bits
Market Insight, by Coating Material
- Diamond Coated
- Carbide Coated
Market Insight, by Size
- Small Core drill
- Medium-sized Core drill
- Large Core drills
Market Insight, by Application
- Building and Mines
- Construction & Infrastructure
Market Insight, by Region
- North America Core Drill Market
- United States
- Rest of North America
- Europe Core Drill Market
- United Kingdom
- Rest of Europe
- Asia Pacific Core Drill Market
- Rest of Asia-Pacific
- Rest of World Core Drill Market
Top Company Profiles
- Husqvarna AB
- Hilti Corporation
- Makita Corporation
- Pentruder UK Ltd
- Milwaukee Electric Tool Corporation
- WEKA Elektrowerkzeuge KG
- LISSMAC Maschinenbau