The new report by Expert Market Research titled, ‘Global Air Core Drilling Market Size, Share, Analysis, Trends, Growth, Report and Forecast 2023-2028’, gives an in-depth analysis of the global air core drilling market, assessing the market based on its segments like applications, end uses, and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2018-2028)
- Historical Market Size (2021): USD 1.1 Billion
- Forecast CAGR (2023-2028): 50%
- Forecast Market Size (2027): USD 1.5 Billion
The air core drilling industry is being driven by increasing construction activities owing to rapid urbanisation. These drilling methods are deployed in industries for various purposes, thus augmenting the air core drilling industry. The increasing demands for fossil fuels are also playing a critical role in the industry’s steady growth as air core drilling is used to derive the natural resources underground.
Moreover, the numerous advantages of air core drilling, such as preventing sample cross-contamination, being less expensive, eliminating the need for casting holes, and delivering safer sample removal, are also contributing to the market’s growth. The increasing undertaking of drilling programmes by several companies is also significantly catalysing the market growth.
In 2018, Thundelarra Ltd. completed a 14,025-metre air core drill program at its flagship Garden Gully Gold Project in Western Australia to test for near-surface extensions of known mineralised structures and new targets. Such developments are projected to propel the market in the forecast period.
Air Core Drilling Industry Definition and Major Segments
Air core drilling is a method to extract materials with safety, and it uses three-bladed steel or tungsten drill bits. It is much faster and more cost-effective compared to other drilling processes. The air core drilling works by using compressed air to take sample materials out of drill holes.
The air core drilling industry, by application can be segmented into
- Dust Drilling
- Mist Drilling
- Foam Drilling
- Aerated Fluid Drilling
- Nitrogen Membrane Drilling
Based on end use, the market is divided into:
- Oil and Gas
The regional markets of air core drilling include:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
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Air Core Drilling Market Trends
The government initiatives in exploration activities are leading to the incremental development of the air core drilling industry. For instance: Mineral Exploration Corporation Limited (MECL), the mineral exploration agency of India, uses drilling machines for the exploration of coal, lignite, iron, manganese, bauxite, chromite, limestone, gold, diamond, copper, potash, and PGE, among several other polymetallic deposits.
The efficient services offered by leading industry players are also leading to the expansion of the industry. Halliburton Company provides managed pressure drilling services with an increased penetration rate and faster services. Technological advancements in air core drilling and investments in the launch of innovative services are likely to aid the air core drilling industry in the forecast period.
Key Market Players
The major players in the market are Bostech Drilling Australia Pty Ltd, Geodrill Limited, Schlumberger Limited, Halliburton Company, Brown Bros Drilling, and Master Drilling Group Ltd., among others.
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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