Europe DTH Drill Rigs Market By Type (Crawler, And Wheel), By Application, And By Country - Forecast From 2020 To 2029

Revenue from the Europe DTH drill rigs market is expected to expand at a CAGR of 3.6% and is projected to reach a value of over US$ 0.3 Bn in 2029. The Europe DTH drill rigs market report has been segmented on the basis of type, application, and country.

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Introduction:

DTH is the acronym for down-the-hole, and is a method designed and developed to drill holes of large diameters in the surface in downward direction. It is used to drill into the earth, stones, most types of rocks, etc. DTH drilling is widely used in the industries such as mining as well as in construction sector for drilling water wells, pylon hole or foundation drilling in construction and infrastructure applications, as well as for a range of applications in the oil & gas sector. DTH drilling employs two processes. This includes a rotating drill string while at the same time the hammer head continuously striking down in the surface. The piston powered hammer is driven with the help of compressed air, and this combined with a rotary motion enables entering the rock. The resulting powder and rock granules or slurry is ejected from the hole by compressed air, water, and/or other lubricating materials.

Dynamics: Europe DTH Drill Rigs Market

Increasing demand and adoption of natural resources and minerals in European countries is resulting in rising number of mining activities and thus higher adoption of the equipment for extracting various materials from or under the surface of the earth. This is among the major factors projected to propel growth of the Europe market. Rapidly developing oil & gas industry and construction and infrastructural development activities in countries in the Europe is a factor expected to increase demand for DTH drill rigs. This is expected to drive growth of the target market. Currently, mining activities are highly driven by growing per capita income in countries such as the UK, Germany, and others resulting in increasing demand for real assets such as gold, diamond, etc. and is expected to support growth of the target market. Increasing focus of manufacturers on technological advancements in the industry is expected to fuel growth of the Europe DTH drill rigs market to a significant extent in the years to come. Increasing number of new construction and reconstruction activities in residential and non-residential sectors due to increasing urbanization and industrialization, is fueling growth of the Europe DTH drill rigs market.

High cost of initial installation of down-the-hole drill rigs equipment is a major factor that could hinder growth of the target market. Stringent government regulations associated with construction and mining activities is additional major factor hampering Europe market growth. The adverse environmental impact of down-the-hole drill process can occur at local, and regional levels that may lead to erosion, sinkholes, biodiversity loss, and contamination of the soil, groundwater, and surface water by chemicals from mining processes. The aforementioned factors could hamper growth of the Europe DTH drill rigs market in the coming years.

Segment Analysis: Europe DTH Drill Rigs Market

Insights by Type:

The crawler type segment is estimated to be the most lucrative segment in the Europe DTH drill rigs market with an attractiveness index of 7.6 and the segment is projected to register a CAGR of over 3.5%.

Insights by Application:

The construction industry segment is estimated to be the most lucrative segment in the Europe DTH drill rigs market with an attractiveness index of 9.1 and the segment is projected to register a CAGR of over 3.7%.

Analysis by Country: Europe DTH Drill Rigs Market

France DTH drill rigs market is expected to record highest revenue share in the Europe market and is projected to register highest CAGR of more than 4.4% over the next 10 years. The DTH drill rigs markets in Germany and Spain are projected to follow the France market in terms of revenue contribution in the Europe DTH drill rigs market.

Recent Developments in the Market:

Caterpillar, Inc. Year 2019:

1. Corporate Changes/Expansions; In February, Caterpillar to expand its digital team in its Chicago office.
2. Contracts/Agreements; In April, Caterpillar signed an agreement with Weiler Forestry to sell its purpose-built forestry business.
3. Contracts/Agreements; In May, Caterpillar signed a contract with Funrise Inc. to manufacture and distribute a line of toys.

Caterpillar, Inc. Year 2018:

1. New Products/Services; In February, the company updated its portfolio of remanufactured short blocks, long blocks and engines for the marine industry.
2. Contracts/Agreements; In February, Caterpillar and Minetec entered into an agreement to develop and deliver technologies addressing underground hard rock mining challenges.
3. New Products/Services; In February, the company announced to upgrade the Cat Reman Marine 3116 and 3126 model engines which range from 300 to 420 bhp.

Europe DTH Drill Rigs Market Segmentation:

Segmentation based on Type:

• Crawler Type
• Wheel Type

Segmentation based on Application:

• Mining
• Construction

Segmentation based on Country:

• Germany
• UK
• France
• Italy
• Russia
• Spain
• Rest of Europe