Published On : 11 Sep 2018
The down the hole (DTH) drill rigs market essentially rides on the back of the growing usage of pneumatic tools in rock drilling applications, world over. The demand is propelled by the rising surface-drilling applications in the construction industry and water well drilling. DTH drill rigs are machines extensively used in opencast mining and construction projects. The rising application of DTH drills for drilling bores to install ground source heat pump is also boosting the market.
According to an assessment by QYResearchReports.com., the DTH drill rigs market is expected to witness exciting growth trajectories over the coming years. The demand is likely to witness a promising boost until 2025.
Trends shaping Current Outlook and Developments opening New Frontiers
The demand for DTH drill rigs gained considerable traction from the advent of DTH systems in the blast hole industry a few years back. This was underpinned by the profuse adoption rate among quarries in various parts of the world. The application of the technology helped large quarries drill clean bore hole with increasing depth. Furthermore, rapid advances have been made in the DTH technology which has improved the performance of the rigs. The rapid strides made by the construction industry, especially in emerging economies, has led to the growing applications of DTH drill rigs in geothermal applications such as in water wells. The applications has been catalyzed by the swift pace of urbanization in several developing countries, notably in Asia Pacific.
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The rising number of drilling and exploration activities in the oil and gas industry in various parts of the world is a notable factor expanding the potential of the market. The growing demand for new DTH technologies for drilling hard rocks in the exploration of oil and gas in unconventional regions is creating new avenues in the DTH drill rigs market.
Focus on Technological create Advances New Revenue Streams
Over the past few years, ultra-deep well drilling activities have risen substantially in emerging economies. Coupled with this, advances in deep reservoir stimulation have been slow to meet the demand for oil and gas in worldwide populations. This has put considerable pressures on the demand for high-performance innovative drilling rigs. DTH drill rigs play a crucial role in filling the unmet need for fast drilling technologies. Automation in drilling rigs have are complementing ultra-deep well drilling technologies. Developments in electric DTH drill rigs are boosting the market.
Companies are focused on incorporating advanced technologies in DTH drilling rigs. Some of the prominent players operating in the DTH drill rigs market are Hongwuhuan, JK Drilling, Sunward Intelligent, APAGEO, Driconeq Production AB, Junjin CSM Co., Ltd., The Furukawa Electric Co., Ltd., Boart Longyear, and Atlas Copco.
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