Dublin, Dec. 04, 2025 (GLOBE NEWSWIRE) -- The "Mining Drilling Services Market Report 2025" has been added to ResearchAndMarkets.com's offering.
The mining drilling services market is experiencing a steady upward trajectory, projected to grow from $3.01 billion in 2024 to $3.12 billion in 2025 at a CAGR of 3.5%. By 2029, the market is expected to reach $3.78 billion with an enhanced CAGR of 4.9%. This increase is driven by the development of mining infrastructure, dynamics of market competition, global geopolitical stability, and energy transition initiatives. Key trends include advancements in drilling technologies, automation, data-driven decision-making, and remote operations.
The US tariffs imposed on imported drill bits and rigs are anticipated to impact exploration costs, affecting global economic stability and trade. A modest reduction of 0.2% in growth forecasts reflects these challenges. However, increased mining production is predicted to fuel the market. For instance, the Australian Bureau of Statistics reported record export earnings of $455 billion for the financial year 2022-23, highlighting Australia's strong capabilities in mineral extraction and processing.
Growing electricity consumption, a significant factor in driving the mining drilling services market, relies heavily on essential raw materials extracted through these services. According to Enerdata, US electricity consumption rose by 1.8% in 2022, emphasizing the escalating demand. Meeting this need will propel market expansion.
Technological advancements are pivotal, with companies investing in innovative solutions to strengthen market presence. In September 2024, New Concept Mining launched a Hydraulic Rock Drill manufacturing plant, demonstrating commitment to producing cutting-edge mining equipment.
Partnerships have emerged as strategic moves to enhance drill hole data analysis. In December 2023, International Directional Services LLC partnered with Veracio to improve precision and operational efficiency, emphasizing sustainable practices. Drilling Tools International's acquisition of European Drilling Projects B.V. in October 2024 bolstered its European presence, expanding its advanced drilling solutions for oil and gas sectors.
Major industry players include Schlumberger Limited, Sandvik Mining and Construction, Perenti Group, BoartLongyear, among others. The Asia-Pacific region leads in market size, with significant activity in Australia, Brazil, China, and other countries.
The market is influenced by global trade tensions, notably the rapid escalation of US tariffs in spring 2025, which impact equipment acquisition and supply chain stability. These pressures particularly affect mid-sized mining companies, prompting a focus on domestic supply chains and mineral recycling programs.
This market research report provides a comprehensive view of the mining drilling services sector, offering insights into market size, regional shares, competitor analysis, and emerging trends. The report delivers an in-depth analysis of both current scenarios and future projections, equipping stakeholders with critical information needed to thrive in this evolving industry.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 250 |
| Forecast Period | 2025 - 2029 |
| Estimated Market Value (USD) in 2025 | $3.12 Billion |
| Forecasted Market Value (USD) by 2029 | $3.78 Billion |
| Compound Annual Growth Rate | 4.9% |
| Regions Covered | Global |
Companies Featured
- Schlumberger Limited
- Sandvik Mining and Construction
- Perenti Group
- BoartLongyear
- Major Drilling Group International Inc
- Byrnecut Mining Pty. Ltd
- Action Drill & Blast
- Barminco
- Foraco International S.A
- Capital Drilling
- Orbit Garant Drilling Inc.
- Geodrill
- Master Drilling Group Limited
- Ausdrill
- Geotech Drilling Services Ltd.
- Gregg Drilling LLC
- REI Drilling Inc.
- Viking Drilling LLC
- Drillmech Engineering & Hydraulic Services
- Dando Drilling International
- Central African Drilling
- Drillex International
- Xploration Services Limited
- Midwest Mineral Exploration Services
For more information about this report visit https://www.researchandmarkets.com/r/iciq79
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