Diamond Core Drilling Market Size - By Operational Type (Hand Type Drilling, Rig-Operated Drilling), By Drilling Technique Type (Stitch Drilling, Underwater Diamond Drilling, Surface Drilling, Underground Drilling) By End User Industry & Forecast, 2024 - 2032

Diamond Core Drilling Market Size - By Operational Type (Hand Type Drilling, Rig-Operated Drilling), By Drilling Technique Type (Stitch Drilling, Underwater Diamond Drilling, Surface Drilling, Underground Drilling) By End User Industry & Forecast, 2024 - 2032

Diamond Core Drilling Market Size

Diamond Core Drilling Market size was valued at USD 912 million in 2023 and is estimated to register a CAGR of over 4.7% between 2024 and 2032. The process involves removing cylindrical core samples from the earth's subsurface using diamond drill bits. These samples help identify possible mineral reserves, underground water supplies, and geological structures in addition to providing crucial geological information. It is a specialized technique for cutting through a variety of hard surfaces and is frequently utilized in several industries.

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For example, diamond core drilling is used in the oil and gas sector for production, appraisal, and exploration purposes. The demand for diamond core drilling services in this industry will continue to grow despite the increased emphasis on renewable energy sources.

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The high initial and operational costs, including expenses for setting up drilling gear, specialized tools, fuels, and maintenance, pose a significant financial barrier for market entry. As a result, smaller businesses and startups may face challenges in establishing themselves within the industry.
 

Diamond Core Drilling Market Trends

Technological advancements such as the usage of more efficient drilling rigs, advanced diamond drill bit designs, and real-time monitoring systems are expected to drive the market growth. Technological advancements improve drilling efficiency and safety. Automated drilling systems reduce dependency on manual labor, improve operational efficiency, enhance safety and also allow operators to monitor and control tasks from a single location.

Data analytics and digitalization have also made its way into the diamond core drilling industry and deliver real-time data monitoring and analysis for better decision-making, predictive maintenance, and optimization of drilling parameters. Digital technologies such as artificial intelligence and machine learning are used to optimize drilling processes.

Diamond Core Drilling Market Analysis

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Based on operational type, the market is divided into hand type drilling and rig-operated drilling. The rig-operated segment dominated around USD 588 million revenue in 2023. Drilling rigs with diamond core are essential components of drilling equipment. To suit a range of drilling applications, they are available in a variety of sizes and combinations. When selecting a diamond core drilling rig, factors such as mobility, safety features, drilling depth capability, and power capacity are taken into consideration.

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Based on drilling technique type, the diamond core drilling market is categorized into stitch drilling, underwater diamond drilling, surface drilling, and underground drilling. The stitch drilling segment accounted for 52% of the market share in 2023. This can be credited to the building industry's increasing demand for diamond core drilling. Stitch drilling can be employed for longer-duration projects, making it well-suited in infrastructure development projects.

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Asia Pacific diamond core drilling market size held over USD 291 million in 2023. This can be attributed to the growing need for drilling machines across industries like mining and construction. It is expected that the expanding construction market in China and India will generate demand. Rapid urbanization and population growth in the region are also market growth contributors.

Diamond Core Drilling Market Share

In 2023, dominant market players, including Albert Roller GmbH, Atlas Copco, Boart Longyear, Bosch, DUSS collectively held a substantial 10%-15% market share. The market is highly fragmented. These industry leaders are actively engaged in strategic initiatives such as mergers & acquisitions, facility expansions, and partnerships to broaden their product portfolios, reach a wider customer base, and strengthen their market presence. These companies continuously invest in research & development to improve their products and incorporate new technologies, allowing them to stay ahead of the competition.

Diamond Core Drilling Market Companies

Major companies operating in the diamond core drilling industry are

• Albert Roller GmbH
• Atlas Copco
• Boart Longyear
• Bosch
• DUSS
• Eibenstock
• Epiroc AB
• Fordia Group
• Geomachine OY
• Golz
• Hilti
• Husquarna AB
• Lissmac
• Major Drilling Group International Inc.
• Maschinenban
• Master Drilling Group Ltd.
• Perenti Global Limited
• Ramset
• Sandvik AB
• Schlumberger Ltd.
• Tyrolit
   

Diamond Core Drilling Industry News

• In October 2023, Boart Longyear launched ‘Surface roller latch head assembly’ which will enhance safety, durability, and productivity. It is a 360-degree joint for improved handling.
   
• In December 2023, Southwest Pinnacle Exploration Limited has received an order of 45 million USD for surface exploratory diamond core drilling in Rajasthan, India. Southwest Pinnacle Exploration Limited is a leading private exploration company in India which has a capacity to drill between 300 meters- 2000 meters.

The diamond core drilling market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue [AB1] (USD Million) from 2018 to 2032, for the following segments

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Market, By Operational Type

• Hand type drill
• Rig-operated

Market, By Drilling Technique Type

• Stitch drilling
• Underwater Diamond drilling
• Surface drilling
• Underground drilling

Market, By End User Industry Type

• Mining
• Oil & Gas
• Others

The above information is provided for the following regions and countries

• North America
  • U.S.
  • Canada
  • Rest of North America
• Europe
  • UK
  • Germany
  • France
  • Italy
  • Russia
  • Belgium
  • Sweden
  • Rest of Europe
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Indonesia
  • Thailand
  • Vietnam
  • Rest of Asia Pacific 
• Latin America
  • Brazil
  • Mexico
  • Argentina
  • Rest of Latin America
• MEA
  • UAE
  • Saudi Arabia
  • South Africa
  • Iran
  • Turkey
  • Rest of MEA