Product Code: PM1831
The global mining drill bits market size is expected to reach USD 2,769.05 million by 2032, according to a new study by Polaris Market Research. The report "Mining Drill Bits Market Share, Size, Trends, Industry Analysis Report, By Material (Tungsten Carbide, Steel, Diamond, Others); By Type; By Bit Size; By Application; By Regions; Segment Forecast, 2022 - 2032" gives a detailed insight into current market dynamics and provides analysis on future market growth.
Mining drill bits perform excavation and drilling operations on rocks and the soil's surface. The equipment such as rock fragmentation, wear resistance, and larger penetration rates are utilized for drilling in the mining sector and well-drilling, quarrying, building, tunneling, blasting sectors, and geological exploration. The predicted rise of the mining industry in numerous countries is one of the major factors driving the market for mining drill bits. Other factors that encourage business expansion include greater coal and precious metal mining.
The mining industry has grown due to the countries' increased need for raw materials, metals, and minerals to support economic expansion. Mineral resource extraction has increased dramatically during the last ten years and is expected to continue growing. Population expansion causes the demand for mineral resources to increase, which drives the global mining industry. This supports the market expansion for mining drill bits.
The type section consists of rotary bits, DTH bits, fixed-head bits, roller bits, and others. The category for DTH Bit is anticipated to develop fastest during the forecasted period. This kind of drilling bits is utilized with down-the-hole hammers to drill holes through various rocks. The launch of different DTH Bit products by industry participants generates large growth potential.
Steel, diamond, carbide, and other materials are included in this segment. The segment for carbide is anticipated to experience the highest growth rate during the projection period. Tungsten carbide is becoming a material of choice primarily responsible for this expansion of mining tools.
Drilling on both the surface and subsurface is included in the operation section. Underground mining is anticipated to experience the fastest growth rate throughout the projection period. Mining drill bits are in high demand for undercover mining operations because of the rise in hard rock minerals demand such as zinc, copper, lithium and gold, over various industries.
Report Highlights:
The segments for bit size include below 5, between 5 and 8, between 8 and 11, between 11 and 14, and over 14. The product comes in multiple sizes to maximize cutting and crushing capability for various applications. New, developing markets, different applications, and technological developments encourage the development of drill bits to meet rising demand.
The market is divided into surface and underground mining based on application. This sector is anticipated to increase due to causes including rising industrialization, rising mineral demand, and technological advancements.
North America has a growing need for specialized drill bits due to the widespread use of cutting-edge drilling technology, such as automated drilling systems and directional drilling. Due to the demand for customized drill bits to maximize performance and efficiency, these advanced technologies have opened up new market expansion prospects.
Polaris Market Research has segmented the Mining Drill Bits Market report based on material, type, bit size, application, and region:
Mining Drill Bits Market, Material Outlook (Revenue - USD Million, 2019 - 2032)
Tungsten Carbide
Steel
Diamond
Others
Mining Drill Bits Market, Type Outlook (Revenue - USD Million, 2019 - 2032)
Rotary Bits
Fixed Cutter Bits
Roller Cone Bits
DTH hammer Bits
Others
Mining Drill Bits Market, Bit Size Outlook (Revenue - USD Million, 2019- 2032)
Below 8 inches
8 to 11 inches
Above 11 inches
Mining Drill Bits Market, Industry Application Outlook (Revenue - USD Million, 2019- 2032)
Surface Mining
Underground Mining
Mining Drill Bits Market, Regional Outlook (Revenue - USD Million, 2019 - 2032)
North America
U.S.
Canada
Europe
Germany
UK
France
Italy
Spain
Russia
Netherlands
Asia Pacific
China
India
Japan
South Korea
Indonesia
Malaysia
Latin America
Argentina
Brazil
Mexico
Middle East & Africa
UAE
Saudi Arabia
Israel
South Africa
Table of Contents
1. Introduction
- 1.1. Report Description
- 1.1.1. Objectives of the Study
- 1.1.2. Market Scope
- 1.1.3. Assumptions
- 1.2. Stakeholders
2. Executive Summary
3. Research Methodology
- 3.1. Overview
- 3.2. Data Sources
- 3.2.1. Primary Sources
- 3.2.2. Secondary Sources
4. Global Mining Drill Bits Market Insights
- 4.1. Mining Drill Bits - Industry Snapshot
- 4.2. Mining Drill Bits Market Dynamics
- 4.2.1. Drivers and Opportunities
- 4.2.1.1. Increase in blast hole drilling for open pit mining
- 4.2.1.2. Rise in demand for underground mining drill equipment
- 4.2.2. Restraints and Challenges
- 4.2.2.1. Rise in prices of raw materials
- 4.3. Porter's Five Forces Analysis
- 4.3.1. Bargaining Power of Suppliers (Moderate)
- 4.3.2. Threats of New Entrants: (Low)
- 4.3.3. Bargaining Power of Buyers (Moderate)
- 4.3.4. Threat of Substitute (Moderate)
- 4.3.5. Rivalry among existing firms (High)
- 4.4. PESTLE Analysis
- 4.5. Mining Drill Bits Industry Trends
- 4.6. Value Chain Analysis
- 4.7. COVID-19 Impact Analysis
5. Global Mining Drill Bits Market, by Material
- 5.1. Key Findings
- 5.2. Introduction
- 5.2.1. Global Mining Drill Bits Market, by Material, 2019-2032 (USD Million)
- 5.3. Tungsten Carbide
- 5.3.1. Global Mining Drill Bits Market, by Tungsten Carbide, by Region, 2019-2032 (USD Million)
- 5.4. Steel
- 5.4.1. Global Mining Drill Bits Market, by Steel, by Region, 2019-2032 (USD Million)
- 5.5. Diamond
- 5.5.1. Global Mining Drill Bits Market, by Diamond, by Region, 2019-2032 (USD Million)
- 5.6. Others
- 5.6.1. Global Mining Drill Bits Market, by Others, by Region, 2019-2032 (USD Million)
6. Global Mining Drill Bits Market, by Type
- 6.1. Key Findings
- 6.2. Introduction
- 6.2.1. Global Mining Drill Bits Market, by Type, 2019-2032 (USD Million)
- 6.3. Rotary Bits
- 6.3.1. Global Mining Drill Bits Market, by Rotary Bits, by Region, 2019-2032 (USD Million)
- 6.3.2. Fixed Cutter Bits
- 6.3.2.1. Global Mining Drill Bits Market, by Fixed Cutter Bits, by Region, 2019-2032 (USD Million)
- 6.3.3. Roller Cone Bits
- 6.3.3.1. Global Mining Drill Bits Market, by Roller Cone Bits, by Region, 2019-2032 (USD Million)
- 6.4. DTH hammer Bits
- 6.4.1. Global Mining Drill Bits Market, by DTH hammer Bits, by Region, 2019-2032 (USD Million)
- 6.5. Others
- 6.5.1. Global Mining Drill Bits Market, by Others, by Region, 2019-2032 (USD Million)
7. Global Mining Drill Bits Market, by Bit Size
- 7.1. Key Findings
- 7.2. Introduction
- 7.2.1. Global Mining Drill Bits Market, by Bit Size, 2019-2032 (USD Million)
- 7.3. Below 8 inches
- 7.3.1. Global Mining Drill Bits Market, by Below 8 inches, by Region, 2019-2032 (USD Million)
- 7.4. 8 to 11 inches
- 7.4.1. Global Mining Drill Bits Market, by 8 to 11 inches, by Region, 2019-2032 (USD Million)
- 7.5. Above 11 inches
- 7.5.1. Global Mining Drill Bits Market, by Above 11 inches, by Region, 2019-2032 (USD Million)
8. Global Mining Drill Bits Market, by Application
- 8.1. Key Findings
- 8.2. Introduction
- 8.2.1. Global Mining Drill Bits Market, by Application, 2019-2032 (USD Million)
- 8.3. Surface Mining
- 8.3.1. Global Mining Drill Bits Market, by Surface Mining, by Region, 2019-2032 (USD Million)
- 8.4. Underground Mining
- 8.4.1. Global Mining Drill Bits Market, by Underground Mining, by Region, 2019-2032 (USD Million)
9. Global Mining Drill Bits Market, by Geography
- 9.1. Key findings
- 9.2. Introduction
- 9.2.1. Mining Drill Bits Market Assessment, By Geography, 2019-2032 (USD Million)
- 9.3. Mining Drill Bits Market - North America
- 9.3.1. North America: Mining Drill Bits Market, by Material, 2019-2032 (USD Million)
- 9.3.2. North America: Mining Drill Bits Market, by Application, 2019-2032 (USD Million)
- 9.3.3. North America: Mining Drill Bits Market, by Type, 2019-2032 (USD Million)
- 9.3.4. North America: Mining Drill Bits Market, by Bit Size, 2019-2032 (USD Million)
- 9.3.5. Mining Drill Bits Market - U.S.
- 9.3.5.1. U.S.: Mining Drill Bits Market, by Material, 2019-2032 (USD Million)
- 9.3.5.2. U.S.: Mining Drill Bits Market, by Application, 2019-2032 (USD Million)
- 9.3.5.3. U.S.: Mining Drill Bits Market, by Type, 2019-2032 (USD Million)
- 9.3.5.4. U.S.: Mining Drill Bits Market, by Bit Size, 2019-2032 (USD Million)
- 9.3.6. Mining Drill Bits Market - Canada
- 9.3.6.1. Canada: Mining Drill Bits Market, by Material, 2019-2032 (USD Million)
- 9.3.6.2. Canada: Mining Drill Bits Market, by Application, 2019-2032 (USD Million)
- 9.3.6.3. Canada: Mining Drill Bits Market, by Type, 2019-2032 (USD Million)
- 9.3.6.4. Canada: Mining Drill Bits Market, by Bit Size, 2019-2032 (USD Million)
- 9.4. Mining Drill Bits Market - Europe
- 9.4.1. Europe: Mining Drill Bits Market, by Material, 2019-2032 (USD Million)
- 9.4.2. Europe: Mining Drill Bits Market, by Application, 2019-2032 (USD Million)
- 9.4.3. Europe: Mining Drill Bits Market, by Type, 2019-2032 (USD Million)
- 9.4.4. Europe: Mining Drill Bits Market, by Bit Size, 2019-2032 (USD Million)
- 9.4.5. Mining Drill Bits Market - UK
- 9.4.5.1. UK: Mining Drill Bits Market, by Material, 2019-2032 (USD Million)
- 9.4.5.2. UK: Mining Drill Bits Market, by Application, 2019-2032 (USD Million)
- 9.4.5.3. UK: Mining Drill Bits Market, by Type, 2019-2032 (USD Million)
- 9.4.5.4. UK: Mining Drill Bits Market, by Bit Size, 2019-2032 (USD Million)
- 9.4.6. Mining Drill Bits Market - France
- 9.4.6.1. France: Mining Drill Bits Market, by Material, 2019-2032 (USD Million)
- 9.4.6.2. France: Mining Drill Bits Market, by Application, 2019-2032 (USD Million)
- 9.4.6.3. France: Mining Drill Bits Market, by Type, 2019-2032 (USD Million)
- 9.4.6.4. France: Mining Drill Bits Market, by Bit Size, 2019-2032 (USD Million)
- 9.4.7. Mining Drill Bits Market - Germany
- 9.4.7.1. Germany: Mining Drill Bits Market, by Material, 2019-2032 (USD Million)
- 9.4.7.2. Germany: Mining Drill Bits Market, by Application, 2019-2032 (USD Million)
- 9.4.7.3. Germany: Mining Drill Bits Market, by Type, 2019-2032 (USD Million)
- 9.4.7.4. Germany: Mining Drill Bits Market, by Bit Size, 2019-2032 (USD Million)
- 9.4.8. Mining Drill Bits Market - Italy
- 9.4.8.1. Italy: Mining Drill Bits Market, by Material, 2019-2032 (USD Million)
- 9.4.8.2. Italy: Mining Drill Bits Market, by Application, 2019-2032 (USD Million)
- 9.4.8.3. Italy: Mining Drill Bits Market, by Type, 2019-2032 (USD Million)
- 9.4.8.4. Italy: Mining Drill Bits Market, by Bit Size, 2019-2032 (USD Million)
- 9.4.9. Mining Drill Bits Market - Spain
- 9.4.9.1. Spain: Mining Drill Bits Market, by Material, 2019-2032 (USD Million)
- 9.4.9.2. Spain: Mining Drill Bits Market, by Application, 2019-2032 (USD Million)
- 9.4.9.3. Spain: Mining Drill Bits Market, by Type, 2019-2032 (USD Million)
- 9.4.9.4. Spain: Mining Drill Bits Market, by Bit Size, 2019-2032 (USD Million)
- 9.4.10. Mining Drill Bits Market - Netherlands
- 9.4.10.1. Netherlands: Mining Drill Bits Market, by Material, 2019-2032 (USD Million)
- 9.4.10.2. Netherlands: Mining Drill Bits Market, by Application, 2019-2032 (USD Million)
- 9.4.10.3. Netherlands: Mining Drill Bits Market, by Type, 2019-2032 (USD Million)
- 9.4.10.4. Netherlands: Mining Drill Bits Market, by Bit Size, 2019-2032 (USD Million)
- 9.4.11. Mining Drill Bits Market - Russia
- 9.4.11.1. Russia: Mining Drill Bits Market, by Material, 2019-2032 (USD Million)
- 9.4.11.2. Russia.: Mining Drill Bits Market, by Application, 2019-2032 (USD Million)
- 9.4.11.3. Russia: Mining Drill Bits Market, by Type, 2019-2032 (USD Million)
- 9.4.11.4. Russia: Mining Drill Bits Market, by Bit Size, 2019-2032 (USD Million)
- 9.5. Mining Drill Bits Market - Asia Pacific
- 9.5.1. Asia Pacific: Mining Drill Bits Market, by Material, 2019-2032 (USD Million)
- 9.5.2. Asia Pacific: Mining Drill Bits Market, by Application, 2019-2032 (USD Million)
- 9.5.3. Asia Pacific: Mining Drill Bits Market, by Type, 2019-2032 (USD Million)
- 9.5.4. Asia Pacific: Mining Drill Bits Market, by Bit Size, 2019-2032 (USD Million)
- 9.5.5. Mining Drill Bits Market - China
- 9.5.5.1. China: Mining Drill Bits Market, by Material, 2019-2032 (USD Million)
- 9.5.5.2. China.: Mining Drill Bits Market, by Application, 2019-2032 (USD Million)
- 9.5.5.3. China: Mining Drill Bits Market, by Type, 2019-2032 (USD Million)
- 9.5.5.4. China: Mining Drill Bits Market, by Bit Size, 2019-2032 (USD Million)
- 9.5.6. Mining Drill Bits Market - India
- 9.5.6.1. India: Mining Drill Bits Market, by Material, 2019-2032 (USD Million)
- 9.5.6.2. India.: Mining Drill Bits Market, by Application, 2019-2032 (USD Million)
- 9.5.6.3. India: Mining Drill Bits Market, by Type, 2019-2032 (USD Million)
- 9.5.6.4. India: Mining Drill Bits Market, by Bit Size, 2019-2032 (USD Million)
- 9.5.7. Mining Drill Bits Market - Japan
- 9.5.7.1. Japan: Mining Drill Bits Market, by Material, 2019-2032 (USD Million)
- 9.5.7.2. Japan.: Mining Drill Bits Market, by Application, 2019-2032 (USD Million)
- 9.5.7.3. Japan: Mining Drill Bits Market, by Type, 2019-2032 (USD Million)
- 9.5.7.4. Japan: Mining Drill Bits Market, by Bit Size, 2019-2032 (USD Million)
- 9.5.8. Mining Drill Bits Market - Malaysia
- 9.5.8.1. Malaysia: Mining Drill Bits Market, by Material, 2019-2032 (USD Million)
- 9.5.8.2. Malaysia.: Mining Drill Bits Market, by Application, 2019-2032 (USD Million)
- 9.5.8.3. Malaysia: Mining Drill Bits Market, by Type, 2019-2032 (USD Million)
- 9.5.8.4. Malaysia: Mining Drill Bits Market, by Bit Size, 2019-2032 (USD Million)
- 9.5.9. Mining Drill Bits Market - Indonesia
- 9.5.9.1. Indonesia: Mining Drill Bits Market, by Material, 2019-2032 (USD Million)
- 9.5.9.2. Indonesia.: Mining Drill Bits Market, by Application, 2019-2032 (USD Million)
- 9.5.9.3. Indonesia: Mining Drill Bits Market, by Type, 2019-2032 (USD Million)
- 9.5.9.4. Indonesia: Mining Drill Bits Market, by Bit Size, 2019-2032 (USD Million)
- 9.5.10. Mining Drill Bits Market - South Korea
- 9.5.10.1. South Korea: Mining Drill Bits Market, by Material, 2019-2032 (USD Million)
- 9.5.10.2. South Korea.: Mining Drill Bits Market, by Application, 2019-2032 (USD Million)
- 9.5.10.3. South Korea: Mining Drill Bits Market, by Type, 2019-2032 (USD Million)
- 9.5.10.4. South Korea: Mining Drill Bits Market, by Bit Size, 2019-2032 (USD Million)
- 9.6. Mining Drill Bits Market - Middle East & Africa
- 9.6.1. Middle East & Africa: Mining Drill Bits Market, by Material, 2019-2032 (USD Million)
- 9.6.2. Middle East & Africa: Mining Drill Bits Market, by Application, 2019-2032 (USD Million)
- 9.6.3. Middle East & Africa: Mining Drill Bits Market, by Type, 2019-2032 (USD Million)
- 9.6.4. Middle East & Africa: Mining Drill Bits Market, by Bit Size, 2019-2032 (USD Million)
- 9.6.5. Mining Drill Bits Market - Saudi Arabia
- 9.6.5.1. Saudi Arabia: Mining Drill Bits Market, by Material, 2019-2032 (USD Million)
- 9.6.5.2. Saudi Arabia: Mining Drill Bits Market, by Application, 2019-2032 (USD Million)
- 9.6.5.3. Saudi Arabia: Mining Drill Bits Market, by Type, 2019-2032 (USD Million)
- 9.6.5.4. Saudi Arabia: Mining Drill Bits Market, by Bit Size, 2019-2032 (USD Million)
- 9.6.6. Mining Drill Bits Market - South Africa
- 9.6.6.1. South Africa: Mining Drill Bits Market, by Material, 2019-2032 (USD Million)
- 9.6.6.2. South Africa: Mining Drill Bits Market, by Application, 2019-2032 (USD Million)
- 9.6.6.3. South Africa: Mining Drill Bits Market, by Type, 2019-2032 (USD Million)
- 9.6.6.4. South Africa: Mining Drill Bits Market, by Bit Size, 2019-2032 (USD Million)
- 9.6.7. Mining Drill Bits Market - Israel
- 9.6.7.1. Israel: Mining Drill Bits Market, by Material, 2019-2032 (USD Million)
- 9.6.7.2. Israel: Mining Drill Bits Market, by Application, 2019-2032 (USD Million)
- 9.6.7.3. Israel: Mining Drill Bits Market, by Type, 2019-2032 (USD Million)
- 9.6.7.4. Israel: Mining Drill Bits Market, by Bit Size, 2019-2032 (USD Million)
- 9.6.8. Mining Drill Bits Market - UAE
- 9.6.8.1. UAE: Mining Drill Bits Market, by Material, 2019-2032 (USD Million)
- 9.6.8.2. UAE: Mining Drill Bits Market, by Application, 2019-2032 (USD Million)
- 9.6.8.3. UAE: Mining Drill Bits Market, by Type, 2019-2032 (USD Million)
- 9.6.8.4. UAE: Mining Drill Bits Market, by Bit Size, 2019-2032 (USD Million)
- 9.7. Mining Drill Bits Market - Latin America
- 9.7.1. Latin America: Mining Drill Bits Market, by Material, 2019-2032 (USD Million)
- 9.7.2. Latin America: Mining Drill Bits Market, by Application, 2019-2032 (USD Million)
- 9.7.3. Latin America: Mining Drill Bits Market, by Type, 2019-2032 (USD Million)
- 9.7.4. Latin America: Mining Drill Bits Market, by Bit Size, 2019-2032 (USD Million)
- 9.7.5. Mining Drill Bits Market - Mexico
- 9.7.5.1. Mexico: Mining Drill Bits Market, by Material, 2019-2032 (USD Million)
- 9.7.5.2. Mexico: Mining Drill Bits Market, by Application, 2019-2032 (USD Million)
- 9.7.5.3. Mexico: Mining Drill Bits Market, by Type, 2019-2032 (USD Million)
- 9.7.5.4. Mexico: Mining Drill Bits Market, by Bit Size, 2019-2032 (USD Million)
- 9.7.6. Mining Drill Bits Market - Brazil
- 9.7.6.1. Brazil: Mining Drill Bits Market, by Material, 2019-2032 (USD Million)
- 9.7.6.2. Brazil: Mining Drill Bits Market, by Application, 2019-2032 (USD Million)
- 9.7.6.3. Brazil: Mining Drill Bits Market, by Type, 2019-2032 (USD Million)
- 9.7.6.4. Brazil: Mining Drill Bits Market, by Bit Size, 2019-2032 (USD Million)
- 9.7.7. Mining Drill Bits Market - Argentina
- 9.7.7.1. Argentina: Mining Drill Bits Market, by Material, 2019-2032 (USD Million)
- 9.7.7.2. Argentina: Mining Drill Bits Market, by Application, 2019-2032 (USD Million)
- 9.7.7.3. Argentina: Mining Drill Bits Market, by Type, 2019-2032 (USD Million)
- 9.7.7.4. Argentina: Mining Drill Bits Market, by Bit Size, 2019-2032 (USD Million)
10. Competitive Landscape
- 10.1. Expansion and Acquisition Analysis
- 10.1.1. Expansion
- 10.1.2. Acquisitions
- 10.2. Partnerships/Collaborations/Agreements/Exhibitions
11. Company Profiles
- 11.1. Mitsubishi Materials Corporation
- 11.1.1. Company Overview
- 11.1.2. Financial PerBit Sizeance
- 11.1.3. Application Benchmarking
- 11.1.4. Recent Development
- 11.2. Sandvik AB
- 11.2.1. Company Overview
- 11.2.2. Financial PerBit Sizeance
- 11.2.3. Application Benchmarking
- 11.2.4. Recent Development
- 11.3. DATC Group
- 11.3.1. Company Overview
- 11.3.2. Financial PerBit Sizeance
- 11.3.3. Application Benchmarking
- 11.3.4. Recent Development
- 11.4. Rockmore International
- 11.4.1. Company Overview
- 11.4.2. Financial PerBit Sizeance
- 11.4.3. Application Benchmarking
- 11.4.4. Recent Development
- 11.5. Robit Plc
- 11.5.1. Company Overview
- 11.5.2. Financial PerBit Sizeance
- 11.5.3. Application Benchmarking
- 11.5.4. Recent Development
- 11.6. Brunner & Lay Inc
- 11.6.1. Company Overview
- 11.6.2. Financial PerBit Sizeance
- 11.6.3. Application Benchmarking
- 11.6.4. Recent Development
- 11.7. MICON-Drilling GmbH
- 11.7.1. Company Overview
- 11.7.2. Financial PerBit Sizeance
- 11.7.3. Application Benchmarking
- 11.7.4. Recent Development
- 11.8. Xiamen Prodrill Equipment Co., Ltd
- 11.8.1. Company Overview
- 11.8.2. Financial PerBit Sizeance
- 11.8.3. Application Benchmarking
- 11.8.4. Recent Development
- 11.9. Caterpillar Inc
- 11.9.1. Company Overview
- 11.9.2. Financial PerBit Sizeance
- 11.9.3. Application Benchmarking
- 11.9.4. Recent Development
- 11.10. Western Drilling Tools Inc
- 11.10.1. Company Overview
- 11.10.2. Financial PerBit Sizeance
- 11.10.3. Application Benchmarking
- 11.10.4. Recent Development
- 11.11. Epiroc AB
- 11.11.1. Company Overview
- 11.11.2. Financial PerBit Sizeance
- 11.11.3. Application Benchmarking
- 11.11.4. Recent Development
- 11.12. Changsha Heijingang Industrial Co., Ltd
- 11.12.1. Company Overview
- 11.12.2. Financial PerBit Sizeance
- 11.12.3. Application Benchmarking
- 11.12.4. Recent Development
- 11.13. Boart Longyear
- 11.13.1. Company Overview
- 11.13.2. Financial PerBit Sizeance
- 11.13.3. Application Benchmarking
- 11.13.4. Recent Development