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Global Air Core Drilling Market to Grow at a CAGR of 5.50% During 2022-2027, Aided by the Increased Energy Demands Globally

According to a new report by EMR titled, ‘Global Air Core Drilling Market Report and Forecast 2022-2027’, the market attained a value of nearly USD 1.1 billion in 2021. The industry is further expected to grow at a CAGR of 5.50% between 2022 and 2027 to reach USD 1.5 billion by 2027.

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.

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 (2017-2021) and (2022-2027).
  • The report also offers historical (2017-2021) and forecast (2022-2027) 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.

About Us:

Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

EMR leverages its state-of-the-art technological and analytical tools, along with the expertise of its highly skilled team of over 100 analysts and more than 3000 consultants, to help its clients, ranging from Fortune 1000 companies to small and medium sized enterprises, easily grasp the expansive industry data and help them in formulating market and business strategies, which ensure that they remain ahead of the curve.

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*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

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