+1-888-308-5802     
News Contact Us

Borehole equipment market to register increased traction over 2019-2024, North america to emerge as a prominent regional contender

Author : Rahul Varpe | Published Date : 2019-03-28 

North America Borehole Equipment Market 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.

Borehole Equipment Market size is estimated to exceed USD 27 billion by 2024. 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.

Request for a sample copy of this report @ www.gminsights.com/request-sample/detail/2266

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.

Portable borehole equipment market 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 borehole equipment market demand. Supplying constant torque and force during the operation both in mining and infrastructure makes the product highly demanding.

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 borehole equipment market 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 borehole equipment market growth. Growing domestic demand for coal signifies a positive outlook for borehole equipment market demand in China and India.

Browse Report Summery @ www.gminsights.com/industry-analysis/borehole-equipment-market

Some of the key industry manufacturers include Bohrmeister (Pty) Ltd., Dando Drilling International, Borehole Machinery and 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 R&D investments and technological innovations are some of the strategies adopted by the service providers of the market.

About Global Market Insights:
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

Contact Us:
Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone:1-302-846-7766
Toll Free: 1-888-689-0688
Email: [email protected]
Web: www.gminsights.com/

About Author

Rahul Varpe

Rahul Varpe

Rahul Varpe currently writes for fractovia. A communication Engineering graduate by education, Rahul started his journey in as a freelancer writer along with regular jobs. Rahul has a prior experience in writing as well as marketing of services and products online. Apart from being an avid reader, his other hobbies include music and sketching. He can be contacted at- [email protected] | https://twitter.com/varperahul

Related News

Europe High Performance Films Market is estimated to grow significantly by 2024

Published Date: 2019-06-15         Author: Rahul Varpe

Global market Insights add High Performance Films market research report provides the newest industry data and industry future trends, allowing you to identify the products and end users driving Revenue growth and profitability. The surging automotive sector across APAC coupled with reduced manuf... Read More

Asia Pacific Fire Suppression Market for industrial sector is anticipated to grow rapidly over 2019 - 2024

Published Date: 2019-06-15         Author: Rahul Varpe

Global market Insights add Fire Suppression market research report provides the newest industry data and industry future trends, allowing you to identify the products and end users driving Revenue growth and profitability. Rising demand for less toxic, environment friendly, new generation and aut... Read More

Rigid Spray Polyurethane Foam Market to accrue lucrative gains over the forecast timeframe

Published Date: 2019-06-14         Author: Rahul Varpe

Global Market Insights add New Rigid Spray Polyurethane Foam Market report provides in-depth information about market overview, top vendors, Key market highlights, product types, market drivers, challenges, trends, industry landscape, size and forecast, five forces analysis, Key leading countries/Re... Read More

© 2019 Fractovia. All Rights Reserved