Press Release
Press Release
The air core drilling industry is driven by the increasing energy demands worldwide owing to the surge in global population and rising disposable incomes. The expansion of food processing, industrial, automotive, and construction industry in the developing countries is likely to provide impetus to the market growth in the forecast period. Moreover, significant consumer shift from traditional to modern drilling techniques is anticipated to augment the market growth in the coming years.
In March 2020, Bryah Resources Limited (ASX: BYH) announced the company’s aim to begin a 5000 metre aircore drilling programme. The company decided to undertake the first phase of drilling in between March and June 2020 at its Bryah Basin Project in WA (Western Australia). Other leading players such as Schlumberger (NYSE: SLB) are also making investments to strengthen their position in the market.
In terms of region, the Asia Pacific is likely to witness a significant growth in the forecast period owing to the raid expansion of the construction sector. This can be attributed to the development of residential and commercial infrastructure in countries like India, China, and others. Furthermore, the growing mining sector in the region due to favourable government policies is likely to augment the market growth in the region. China is one of the major gold mining hubs across the world. The market is expected to be further aided by a strong foothold of major market players in the region.
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The major players in the global air core drilling market are Bostech Drilling Australia Pty Ltd, Geodrill Limited, Schlumberger Limited, Halliburton Company, Brown Bros Drilling, and Master Drilling Group Ltd., among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
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