Market Overview:
The global rock formation drilling rig market is expected to grow at a CAGR of 5.5% during the forecast period from 2018 to 2030. The market growth can be attributed to the increasing demand for oil and gas, mineral resources, and coal across the globe. In addition, the growing infrastructure development in emerging economies is also propelling the demand for rock formation drilling rigs. The global rock formation drilling rig market can be segmented on the basis of type into rotary drills, impact drills, and others. Rotary drills are expected to hold a major share of the market owing to their ability to drill through hard rocks with high precision and accuracy. On the basis of application,the market can be segmented into coal field mining, oil & gas exploration & production (E&P), metallurgy mining & quarrying,, mineral mining,,and others segments including construction industry,. The coal field mining segment is estimatedto hold a major shareof th emarket in 2018 owingto th egrowing demandforcoal acrossthe globe . However , t he oi l an d ga s ex ploratio n Segment i s expec tedt o gro w ata hig herCAGR dueto t he risin gdemandfo roil an dga sin developedan demergingeconomies .
Product Definition:
A rock formation drilling rig is a piece of machinery used to drill into the earth in order to extract oil or gas. The importance of these rigs is that they allow for the extraction of these resources in an efficient and cost effective manner.
Rotary:
Rotary is a type of drilling rig that uses a spinning rotor to create a high-pressure vacuum and drill cuttings are sent to the surface through pipes. The main components of rotary rigs include base, mast, head, and pipes.
Impact:
The impact is the measure of force that is applied to the rock and soil during drilling. It helps in gaining information about internal resistance of rocks and soils. The higher the number, greater will be the penetration into rock formation.
Soaring need for oil & gas exploration has led to an increase in drilling activities globally which have further propelled demand for impact tools in recent years.
Application Insights:
The demand for the global rock formation drilling rig market is categorized on the basis of application into coal field, oil & gas, metallurgy, and others. The coal field segment dominated the overall market in terms of revenue in 2017. This can be attributed to increasing demand from China and India coupled with stable supply from Australia and Indonesia.
Regional Analysis:
North America dominated the global market in 2017 owing to the presence of a large number of exploration and production companies. The U.S., which is at the forefront, holds a major share in this region due to easy availability of funds from investors and banks for R&D activities related to drilling techniques.
The Asia Pacific regional market is expected to grow at an exponential rate over the forecast period owing to increasing government spending on infrastructure development projects coupled with rising energy demand from developing economies such as China and India. These factors are anticipated to drive industry growth across this region during the forecast period.
Growth Factors:
- Increasing demand for energy due to population growth and industrialization in developing countries
- Rising investment in oil & gas exploration and production
- Proliferation of unconventional hydrocarbon resources such as shale gas and tight oil
- Stringent environmental regulations for drilling operations that promote the use of more efficient rigs and technologies
- Technological advancements that improve the safety, efficiency, and productivity of drilling rigs
Scope Of The Report
Report Attributes
Report Details
Report Title
Rock Formation Drilling Rig Market Research Report
By Type
Rotary, Impact, Others
By Application
Coal Field, Oil, Metallurgy, Mineral, Others
By Companies
Dynatech, Mobile Drill International, Drillmec, Schramm, Veristic Technologies, STI, Service King Mfg, Spiradrill, Hess Services, Ez Bore, Dynatech
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
155
Number of Tables & Figures
109
Customization Available
Yes, the report can be customized as per your need.
Global Rock Formation Drilling Rig Market Report Segments:
The global Rock Formation Drilling Rig market is segmented on the basis of:
Types
Rotary, Impact, Others
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Coal Field, Oil, Metallurgy, Mineral, Others
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Dynatech
- Mobile Drill International
- Drillmec
- Schramm
- Veristic Technologies
- STI
- Service King Mfg
- Spiradrill
- Hess Services
- Ez Bore
- Dynatech
Highlights of The Rock Formation Drilling Rig Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Rotary
- Impact
- Others
- By Application:
- Coal Field
- Oil
- Metallurgy
- Mineral
- Others
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Rock Formation Drilling Rig Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
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- Consumer Insights
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- Product & Brand Management
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
A rock formation drilling rig is a large machine that is used to drill into the earth. It has a number of different parts, including the drill bit, the motor, and the controls. The drill bit is inserted into the ground and rotated around until it reaches its target. The motor then drives the drill bit further down into the ground until it comes to a stop.
Some of the major companies in the rock formation drilling rig market are Dynatech, Mobile Drill International, Drillmec, Schramm, Veristic Technologies, STI, Service King Mfg, Spiradrill, Hess Services, Ez Bore, Dynatech.
The rock formation drilling rig market is expected to register a CAGR of 5.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Rock Formation Drilling Rig Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Rock Formation Drilling Rig Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Rock Formation Drilling Rig Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Rock Formation Drilling Rig Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Rock Formation Drilling Rig Market Size & Forecast, 2018-2028
4.5.1 Rock Formation Drilling Rig Market Size and Y-o-Y Growth
4.5.2 Rock Formation Drilling Rig Market Absolute $ Opportunity
Chapter 5 Global Rock Formation Drilling Rig Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Rock Formation Drilling Rig Market Size Forecast by Type
5.2.1 Rotary
5.2.2 Impact
5.2.3 Others
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Rock Formation Drilling Rig Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Rock Formation Drilling Rig Market Size Forecast by Applications
6.2.1 Coal Field
6.2.2 Oil
6.2.3 Metallurgy
6.2.4 Mineral
6.2.5 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Rock Formation Drilling Rig Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Rock Formation Drilling Rig Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Rock Formation Drilling Rig Analysis and Forecast
9.1 Introduction
9.2 North America Rock Formation Drilling Rig Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Rock Formation Drilling Rig Market Size Forecast by Type
9.6.1 Rotary
9.6.2 Impact
9.6.3 Others
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Rock Formation Drilling Rig Market Size Forecast by Applications
9.10.1 Coal Field
9.10.2 Oil
9.10.3 Metallurgy
9.10.4 Mineral
9.10.5 Others
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Rock Formation Drilling Rig Analysis and Forecast
10.1 Introduction
10.2 Europe Rock Formation Drilling Rig Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Rock Formation Drilling Rig Market Size Forecast by Type
10.6.1 Rotary
10.6.2 Impact
10.6.3 Others
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Rock Formation Drilling Rig Market Size Forecast by Applications
10.10.1 Coal Field
10.10.2 Oil
10.10.3 Metallurgy
10.10.4 Mineral
10.10.5 Others
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Rock Formation Drilling Rig Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Rock Formation Drilling Rig Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Rock Formation Drilling Rig Market Size Forecast by Type
11.6.1 Rotary
11.6.2 Impact
11.6.3 Others
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Rock Formation Drilling Rig Market Size Forecast by Applications
11.10.1 Coal Field
11.10.2 Oil
11.10.3 Metallurgy
11.10.4 Mineral
11.10.5 Others
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Rock Formation Drilling Rig Analysis and Forecast
12.1 Introduction
12.2 Latin America Rock Formation Drilling Rig Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Rock Formation Drilling Rig Market Size Forecast by Type
12.6.1 Rotary
12.6.2 Impact
12.6.3 Others
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Rock Formation Drilling Rig Market Size Forecast by Applications
12.10.1 Coal Field
12.10.2 Oil
12.10.3 Metallurgy
12.10.4 Mineral
12.10.5 Others
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Rock Formation Drilling Rig Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Rock Formation Drilling Rig Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Rock Formation Drilling Rig Market Size Forecast by Type
13.6.1 Rotary
13.6.2 Impact
13.6.3 Others
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Rock Formation Drilling Rig Market Size Forecast by Applications
13.10.1 Coal Field
13.10.2 Oil
13.10.3 Metallurgy
13.10.4 Mineral
13.10.5 Others
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Rock Formation Drilling Rig Market: Competitive Dashboard
14.2 Global Rock Formation Drilling Rig Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Dynatech
14.3.2 Mobile Drill International
14.3.3 Drillmec
14.3.4 Schramm
14.3.5 Veristic Technologies
14.3.6 STI
14.3.7 Service King Mfg
14.3.8 Spiradrill
14.3.9 Hess Services
14.3.10 Ez Bore
14.3.11 Dynatech
