Air Core Drilling Market to Grow Substantially; Increasing Demand for High Grade Mineral Ores to Boost Market Opportunities: Fortune Business Insights™

Pune, Jan. 29, 2021 (GLOBE NEWSWIRE) — Increasing energy demand around the world will be a key propeller of the global air core drilling market growth in the forthcoming years, according to the new Fortune Business Insights™ report, titled “Air Core Drilling Market Size, Share & Industry Analysis, By Application (Dust Drilling, Foam Drilling, Mist Drilling, Nitrogen Membrane Drilling, Aerated Fluid Drilling), By Industry (Mining, Oil & Gas, Construction) Others and Regional Forecast, 2019-2026”. World population is rising and with it, the demand for energy. In its World Energy Outlook 2019 report, the International Energy Agency (IEA) forecasts that the global energy demand will increase by 1.3% annually till 2040, if current policies are pursued in the coming decades. Present consumption of energy is primarily driven by natural gas, providing 45% of the global energy requirements. Overall, fossil fuels were responsible for meeting roughly 70% of the world energy demand, the report highlights, indicating a continued reliance on fossil fuels worldwide. In this scenario, efficient and advanced drilling equipment will be vital in hydrocarbon extraction operations, which augurs well for this market. More importantly, these activities are likely to intensify as, despite surging energy production, 850 million people will still be deprived of power and electricity, the IEA report notes.
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The air core drilling market report highlights include:Valuable insights into the general industry trends and future outlook;Bird’s eye-view analysis of the factors fueling the market and those restraining it;Comprehensive study into the regional and competitive dynamics of the market; andDiligent research into the different market segments.Market DriverSeveral Advantages of Air Core Drilling to Surge Its AdoptionAir core drilling has emerged as a relatively inexpensive form of drilling that uses tungsten or steel drill bits to bore holes in grounds that are unconsolidated. This boring technique is usually employed when clean and safe removal of sample material is of utmost importance. The uptake of this type of drilling is gaining traction owing to its multiple advantages. For example, air core drilling is highly efficient in removing material as it facilitates real-time sample collection, speeding up the entire process and reducing operational costs. Moreover, air core drill rigs weigh less than their conventional counterparts, making them easier to operate and transport. In addition to these features, this drilling method decreases the probability of sample contamination since its uses compressed air to flush out any remnants in the inner tube. Thus, these advantages are playing a crucial role in driving the air core drilling market trends.Click here to get the short-term and long-term impact of COVID-19 on this market.
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Regional InsightsAsia-Pacific to Register Fastest Growth; North America to Occupy Driver’s SeatThe market in Asia-Pacific is anticipated to exhibit the fastest and the strongest growth during the forecast period. This growth trajectory is premised on the upcoming energy and power projects that are being undertaken in countries such as India and China, along with rising exploration activities in unconventional and unexplored reserves. On the other hand, North America is expected to dominate the air core drilling market share owing to the rapid technological progress in the mining industry, fuelled by the discovery of shale gas in the region. In the Middle East and Africa, the market will be mainly driven by the extensive and abundant onshore and offshore hydrocarbon reserves.Competitive LandscapeVast Opportunities for Innovation to Spur Market CompetitionWith growing focus on efficiency and economy, key players in this market are designing and developing drilling equipment that can enhance productivity without being too resource-heavy for operators. This strategy is helping companies to solidify their position in the market as well as expand their global footprint, the air core drilling market analysis finds.
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Industry Developments:October 2019: Schlumberger, the American oilfield services company, launched its at-bit steerable system, the NeoSteer ABSS. The equipment is engineered to enable superior horizontal well drilling through deeper penetration rate along with high-dogleg capacity.January 2018: Sweden-based Atlas Copco completed the takeover of the South African manufacturer and supplier of drilling machinery Renegade Drilling Supplies Proprietary Ltd. The acquisition would allow Atlas Copco to enter the promising energy market in Africa.
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List of Players Covered in the Report:Ausdrill Limited  Baker HughesBostech DrillingAustralia Pty Ltd.Ranger DrillingMaster DrillingWeatherford  Atlas Copco (India) Ltd.Schlumberger Limited
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