- Core drilling machines are used to remove a part of material such as cement, wood, or rock. It pushes over the surface with a twisting motion to remove the surface or create a hole.
- Core drilling machines are also used in laboratories to cut cores from uniform and non-uniform hard samples, such as natural stone, rock, and concrete.
- Core drilling machines may vary in size, power, and features, depending on the project and material type.
- These machines are used in applications such as in construction to create holes for pipes, mineral exploration etc.
- The global core drilling machine market is projected to expand at a rapid pace during the forecast period owing to increasing demand for core drilling machines in the construction industry.
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Global Core Drilling Machines Market: Dynamics
Global Core Drilling Machines Market: Key Drivers
- Growing demand for core drilling machines from oil & gas, mining, construction, and petrochemical sectors are anticipated to boost the market growth in the near future.
- Population is growing rapidly, due to which building manufacturing and construction demand is increasing. This is expected to boost the demand for core drilling machines in construction industries during the forecast period.
- Increase in consumer disposable income and economic expansion are anticipated to impel the production of minerals in the next few years, which in turn is expected to propel the growth of the core drilling machine market around the world.
- Core drilling machines save time, require less energy, and cut more finished, precise, and accurate holes, which are factors that are likely to push the demand for core drilling machines.
- Increasing consumer inclination toward automated core drilling machines is expected to propel the demand for core drilling machines, thus fueling the global market in the coming years.
High Cost of Core Drilling Machines to Hamper the Market
- Core drilling machines are expensive if customers need large drill bits, and are unaffordable for small-scale industries. This is a major factor expected to hinder the global core drilling machine market in the next few years.
- Furthermore, some core drilling machines have a very strong kick back and generate large amount of dust and noise, which in turn is anticipated to hamper this market.
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North America to Hold Major Share of the Global Core Drilling Machines Market
- North America dominated the global core drilling machine market in 2018 due to industrialization and increasing application areas of core drilling machines in the region. The U.S. is a key market in North America due to the presence of global players and high demand for core drilling machines in the country. Europe is anticipated to hold the second largest share of the global core drilling machine market in 2019.
- The core drilling machine market in Asia Pacific is projected to expand at a rapid pace over the forecast period. This can be attributed to increasing infrastructure development and growing economies in the region.
Global Core Drilling Machines Market: Competitive Landscape
Key Players Operating in the Global Core Drilling Machines Market
Numerous local, regional, and international players manufacture core drilling machines. Hence, the core drilling machine market is fairly fragmented and the bargaining power of suppliers is low. The degree of competition among market players is also high. Core drilling machine manufacturers are focused on portfolio expansion and product differentiation and adopt two vital strategies: acquisition and new product development. Key players operating in the global core drilling machine market are:
- Atlas Copco Construction Tools
- CS Unitec, Inc.
- Elektrowerkzeuge GmbH Eibenstock
- Hilti India Private Limited
- LISSMAC Maschinenbau GmbH
- OTTO BAIER GmbH
- Emerson Electric Co. (RIDGID)
- ROTHENBERGER Werkzeuge AG
- SPARKY GROUP
Global Core Drilling Machines Market: Research Scope
Global Core Drilling Machines Market Segmentation, by Type
- Electric Core Drilling Machines
- Hydraulic Core Drilling Machines
- Pneumatic Core Drilling Machines
Global Core Drilling Machines Market Segmentation, by Application
- Construction Industry
- Petrochemical Industry
- Oil & Gas
Global Core Drilling Machines Market Segmentation, by Region
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
- South America
- Rest of South America
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