The global mining drill bits market size was valued at USD 1.22 billion in 2020 and is projected to reach USD 2.4 billion by 2030, growing at a CAGR of 5.8% from 2022 to 2030.

The demand for mining drill bits is expected to increase during the forecast period owing to the growing demand for metals and minerals. The growth in the global mining industry and increasing demand for non-renewable resources such as coal and petroleum has resulted in market demand. Growing demand from emerging economies and technological advancements are factors expected to provide numerous growth opportunities in the coming years.

Major market player included in this report are:
Rockmore International
Caterpillar Inc.
Robit Plc
Epiroc AB
Sandvik AB
Western Drilling Tools Inc
Brunner & Lay Inc.
Xiamen Prodrill Equipment Co., Ltd.
Mitsubishi Materials Corporation
MICON-Drilling GmbH
Boart Longyear
DATC Group
Changsha Heijingang Industrial Co., Ltd.

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Material
Tungsten Carbide
Steel
Diamond
Others
By Type
DTH hammer Bits
Rotary Bits
Others
By Bit Size
Below 5
5-8
8-11
11-14
Above 14"
By Application
Surface Mining
Underground Mining


By Region:
North America
U.S.
Canada
Mexico
Europe
UK
Germany
France
Spain
Italy
Rusia
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
Rest of Asia
South America
Brazil
Argentina
Rest of South America
Middle East & Africa
UAE
Saudi Arabia
South Africa
Rest of MEA

Furthermore, years considered for the study are as follows:

Historical year 2017, 2020
Base year 2021
Forecast period 2022 to 2030.

Target Audience of the Global Mining Drill Bits Market in Market Study:

Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors