Global Air Core Drilling Market to Grow at a CAGR of 5.40% During 2024-2032, Aided by the Increased Energy Demands Globally

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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Market Breakup by Application, End Use, and Region:

• The market is segmented based on application into dust drilling, mist drilling, foam drilling, aerated fluid drilling, and nitrogen membrane drilling.

• Based on end use, the market is divided into oil and gas, mining, and construction, among others.

• Region-wise, the global market for air core drilling can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

• The global market for air core drilling is being driven by the thriving oil and gas industry in emerging economies of the world.

• The consumer shift from traditional to modern drilling methods is likely to amplify the growth of the market.

• The rising demand for air core drilling in the construction sector, owing to the rising population and increasing construction activities globally, is estimated to add to the market growth.

• The market is projected to be further aided by the growing mining activities and rapid urbanisation.

Key Offerings of the Report:

• The EMR report gives an overview of the global market for air core drilling the periods (2018-2023) and (2024-2032).

• The report also offers historical (2018-2023) and forecast (2024-2032) market information for the applications, end uses, and regions of air core drilling.

• The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

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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