Core Drill Market: Current Analysis and Forecast (2021-2027)

Report Description

Global Core Drill Market is anticipated display a CAGR of more than 8% over the forecast period (2021-2027). 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. 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. The world’s largest projects under construction today span the globe, and even beyond. For instance: The construction sector is one of the largest in the world economy, with about Euro 8.58 trillion (US$ 10 trillion) spent on construction-related goods and services every year.

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Insights Presented in the Report

“Amongst Product, Hand-held Core Drill segment dominated the market in 2020”

Based on product, the Core Drill Market is segmented into Hand-held Core Drill, Core Drill Rig. Currently, Hand-held Core Drill dominates the market, however, Core Drill Rig is expected to witness highest CAGR growth during the forecast period.

“Amongst Bits type, Dry Core Bits segment is expected witness significant growth”

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.

“Amongst Coating material, Diamond Coated segment dominated the market in 2020”

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.

“Amongst Size, Large Core drills segment dominated the market in 2020”

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.

“Amongst Application, Construction & Infrastructure segment dominated the market in 2020”

Based on application, the Core Drill Market is segmented into Residential, Building and Mines, Construction & Infrastructure. Currently, Construction & Infrastructure segment dominates the market and is expected to maintain its dominance through the forecast period. The value of global construction industry stood at Euro 8.6 or (US$ 10) trillion in 2020.

“North America (United States) represents as the largest market.”

For a better understanding of the market adoption 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. US is considered as the most mature market for Core Drill globally owing to the presence of renowned brands operating in the market. United States has always been one of the world’s largest markets for the oil & gas industry. With that market once again picking up steam, and global projects set to triple, US industry executives are said to be growing in optimism, with 85% of them expecting to see an increase in drilling activities in the last few years. 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.

Reasons to buy this report:

• The study includes market sizing and forecasting analysis validated by authenticated key industry experts
• The report presents a quick review of overall industry performance at one glance
• The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments
• Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry
• The study comprehensively covers the market across different segments
• Deep dive regional & country-level analysis of the industry

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Research Methodology

Analyzing the historical market, estimation of the current market, and forecasting the future of the Global Core Drill market were the three major steps undertaken to create and analyze the demand of Core Drill tools across major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were conducted, with industry experts across the value chain of the industry. Post assumption and validation of market numbers through primary interviews, we employed a bottom-up approach to forecast the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments the industry pertains to. Detailed methodology is explained below.

Analysis of Historical Market Size

Step 1: In-Depth Study of Secondary Sources:

Detailed secondary study was conducted to obtain the historical market size of the Core Drill through company internal sources such as annual report & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.

Step 2: Market Segmentation:

After obtaining the historical market size of the Core Drill, we conducted a detailed secondary analysis to gather historical market and share for different segments & sub-segments for major regions. Major segments included in the report are product, bits type, coating material, size, and application. Further regional & country-level analyses were conducted to evaluate the overall demand of Core Drill tolls in the global context.

Step 3: Factor Analysis:

After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size. Further, we conducted factor analysis using dependent and independent variables such as growing investment in construction and infrastructure projects globally, technological advancement in the construction sector etc. Historical trends and their year-on-year impact on the market size and share was analyzed. Demand and supply side scenario was also thoroughly studied.

Current Market Size Estimate & Forecast

Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the Market, and market shares of the segments and company. All the required percentage split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.

Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., bottom-up approach was applied to arrive at the market forecast to 2027 for different segments and subsegments across the major regions globally. The research methodology adopted to estimate the market size encompasses:

• The industry’s market size, in terms of value (Euro) and the demand of Core Drill across the major markets
• All percentage shares, splits, and breakdowns of market segments and sub-segments
• Key players in the Core Drill Market in terms of products offered. Also, the growth strategies adopted by these players to compete in the fast-growing market.

Market Size and Share Validation

Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, and Regional Head, Country Head, etc.) across major countries. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.

Split of Primary Participants in Different Regions

Market Engineering

Data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers of each segment and sub-segment of the Core Drill market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of product, bits type, coating material, size, and application for major country/region globally.

The main objective of the Core Drill Market Study

The current & future market trends of the Core Drill Market are pinpointed in the study. Investors can gain strategic insights to base their discretion for investments from the qualitative and quantitative analysis performed in the study.  Current and future market trends would determine the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit as a first-mover advantage. Other quantitative goals of the studies include:

• The current & future market trends of the Core Drill Market are pinpointed in the study. Investors can gain strategic insights to base their discretion for investments from the qualitative and quantitative analysis performed in the study. Current and future market trends would determine the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit as a first-mover advantage. Other quantitative goals of the studies include:
• Analyze the current and forecast market size of Core Drill in terms of value (EURO). Also, analyze the current and forecast market size of different segments and sub-segments of the industry
• Segments in the study include product, bits type, coating material, size, application, and Regions
• Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors pertaining to the industry
• Analyze the current and forecast market size of the Core Drill across the globe. Major regions analyzed in the report include North America (US, Canada, Rest of North America), Europe (Germany, UK, France, Italy, Rest of Europe), Asia-Pacific (China, India, Japan, Australia, Rest of Asia-Pacific), & Rest of World
• Define and analyze the competitive landscape of the Core Drill sector and the growth strategies adopted by the market players to sustain in the fast-growing market