Diamond Core Drilling Market Growth Analysis | 2021-2026

Market Insights

The diamond core drilling market is likely to witness an impressive CAGR of 6.2% during the forecast period of 2021-2026.

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What is diamond core drilling?

Diamond core drilling is a power tool that uses a rotary diamond drill which is attached to a machine to create precise holes in the wall. It is a high-speed and high-production method of drilling in concrete, asphalt, stone, or masonry structures. It is safe, fast, quiet and does not cause impact or vibration damage to the immediate surrounding structure.

COVID-19 Impact

The COVID-19 outbreak has negatively affected the diamond core drilling industry. Surging cases of coronavirus infections have resulted in social distancing and lockdown norms in various countries across the globe to curb the spread of the virus. This has resulted in limited diamond drilling operation activities and supply chain disruption, which affected the product demand during the pandemic.

Key Players

Key players operating in the diamond core drilling market are-

• Layne (The U.S),
• Elite Drilling Inc. (Thailand),
• DOT Diamond Core Drilling Inc. (The U.S),
• SCS Diamond Drilling (The U.S),
• Master Drilling (South Africa),
• AK Drilling Inc. (The U.S),
• Peak Drilling Ltd. (Canada),
• Silverado Drilling Corp. (Canada),
• Hilti Corporation (The U.S),
• Atlas Copco (India) Ltd. (India), and
• WEKA Elektrowerkzeuge KG (Germany).

Market Dynamics

Growing large projects for the exploration of exploratory wells for their mineral composition are expected to propel the market growth during the review period.

• These initiatives are likely to increase with ever-growing energy needs.
• Also, the mechanical benefits of diamond core drilling over other drilling methods further augment the market growth.
• Employing the right diamond drill bits assures accurate, sharp, and clean openings that do not require patches, further spurs the industry's growth.

Market Trends

Diamond core drilling is experiencing high demand due to global demand for minerals like precious metals, base metals, and industrial minerals. Mining companies are using this technique to explore new mineral deposits, driving market growth. The construction industry's expansion and solid infrastructure projects are also driving the industry. Diamond core drilling operations are becoming more efficient with technological advancements in drilling rigs, bits, and fluids, enabling faster and more accurate exploration and extraction processes, and boosting market growth.

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Segment's Analysis

By Operation Type

Based on operation, the diamond core drilling market is classified into hand-held and rig-operated.

• In 2020, the rig-operated segment held a 45% market share and is expected to grow rapidly.
• Diamond core drilling rigs, crucial drilling equipment, come in various sizes and configurations, with factors like power capacity, depth capability, mobility, and safety features being considered when selecting one.

By Drilling Technique Type

Based on the drilling technique, the diamond core drilling market is classified into stitch drilling and underwater diamond drilling.

• The stitch drilling segment held the largest share in 2020 and is projected to grow at the highest CAGR during the assessment period.
• Stitch drilling is primarily used when diamond drilling won’t quite crack it.
• Diamond drilling is mainly restrained to 1,500mm so stitch drilling can take on bigger jobs, further bolstering the segment growth.

Regional Insights

By region, the Asia Pacific market accounted for the largest share in 2020 and is expected to grow at a substantial CAGR in the following years.

• This is mainly ascribed to rapid development in underground mining activities in China and Japan.
• Also, growing investment in mining exploration, mineral production, and construction & infrastructural activities, further proliferates the regional market growth.

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Critical Questions Answered in the Report

• What are the key trends in the market?
• How the market (and its various sub-segments) has grown in the last five years and what would be the growth rate in the next five years?
• What is the impact of COVID-19 on the market?
• What are the key strategies adopted by the major vendors to lead in the market?
• What is the market share of the top vendors?

Market Segmentation

This report studies the market covering 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.

The diamond core drilling market is segmented into the following categories.

By Operation Type

• Hand Held
• Rig Operated

By Drilling Technique Type

• Stitch Drilling
• Underwater Diamond Drilling

By Region

• North America (Country Analysis: The USA, Canada, and Mexico)
• Europe (Country Analysis: Germany, France, The UK, Russia, and the Rest of Europe)
• Asia-Pacific (Country Analysis: China, India, Australia, South Korea, and the Rest of Asia-Pacific)
• Rest of the World (Country Analysis: Saudi Arabia, Brazil, and Others)

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Target Audience

The following is a list of the customers that the diamond core drilling market aims to convert the most:

• Diamond core drilling vendors
• Diamond core drilling retailers
• Mining companies
• Construction companies

Research Methodology

This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.

More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles have been leveraged to gather the data.

We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both qualitative and quantitative insights.

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.

What Deliverables Will You Get in this Report?

Report Customization Options

Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to three players)
• SWOT analysis of key players (up to three players)

Competitive Benchmarking

Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances.

Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com.