DTH Hammer Bits Market is Expected to Grow with a CAGR of 2 % During The Forecast Period of 2018-2025, Says Esticast Research and Consulting
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As per the report “DTH Hammer Bits Market By Type ( Convex, Flat, Concave ), By Application ( Mining Industry, Waterwell Drilling, Construction, Oil & Gas Industry ), Industry Trends, Estimation & Forecast, 2017-2025″
In 2017, the convex type DTH hammer segment generated the highest revenue share of the global DTH hammer bits market. Among major regions, North America was the highest revenue generating market in 2017.
“The constant advancements and improvisations in the technologies and the swift increase in infrastructural development projects have influenced the demand for DTH hammer bits, driving the market growth. However, lack of awareness and technical skills coupled with environmental issues might hamper the growth of DTH hammer bits market.”
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Concave DTH hammer bits have their faces curved inwards with buttons on them. They are highly suitable form medium hard to hard formations which are less abrasive and fractured formations. They have an excellent control over hole deviation. Granite, hard limestone, basalt are usually preferred to be drilled with concave DTH hammer bits. Moreover, these drills have a wide application in the drilling of deep water well, and on the construction sites in hilly areas where, hard rocks are to be drilled. The global concave face DTH hammer bits segment held more than 40% share of the global market in 2017 and is expected to grow with the fastest CAGR of 2.33% during the forecast period.
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Construction industry exhibited the highest application of DTH hammer bits in 2016
DTH drilling is widely used in the construction industry to produce piles into rock and for footing as well. Due to high productivity, DTH is also gaining popularity in off shore foundation building. Moreover, DTH hammer bits are extensively used in the construction of tunnels. With the rising number of new buildings and skyscrapers, a strict demand for highly advanced anchoring has arisen. North America is one of the leading market for DTH hammer bits used in construction projects, owing to rising number of new residential and corporate buildings. However, the developing countries falling in the Asia-Pacific are expected to exhibit a considerable growth in the construction sector, which might act as a future opportunity for the DTH hammer bits market. However, the mining industry is expected to witness the highest CAGR of 2.33% during the forecast period, owing to rapidly increasing mining activities.
Owing to rising energy demands and emergence of new construction projects, North America held the largest revenue share of the global DTH hammer bits market in 2017
A constantly rising demand for energy is compelling the governments to focus on the optimum supply of oil, gas and other energy sources in the region. The U.S. is one of the top six producers of oil and natural gas. Moreover, the Shale oil and gas boom in North America, is leading the E&P companies to expand their production. As per EIA, there is around 1800 trillion cubic feet wet shale gas and nearly 100 billion barrels of technically recoverable tight oil present in North America. Moreover, the exploitation of geothermal resources is opening new gateways for the DTH hammer bits market in the region. However, India, being a developing country and having huge platform for new construction and mining activities is expected to provide humongous growth opportunities to the DTH hammer bits market. The very market is expected to grow, holding the highest CAGR of 3.28% during the forecast period of 2018-2025.
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KEY FINDINGS OF GLOBAL DTH HAMMER BITS MARKET
• In 2017, the convex type DTH hammer segment generated the highest revenue share of the global DTH hammer bits market
• The mining industry is expected to witness the highest CAGR of 2.33% during the forecast period
• The India DTH hammer bits market is expected to grow, holding the highest CAGR of 3.28% during the forecast period of 2018-2025.
• North America held the largest revenue share of the global DTH hammer bits market in 2017
DTH HAMMER BITS MARKET REVENUE BY TYPE, 2016
Acquisition, product launch and strategic agreements have emerged out as the key strategies adopted by the major market players all over the globe. Some major market players of the DTH hammer bits market are Sandvik, Atlas copco, Borat Lonyear, Mincon, Rockmore, Halco Rock Tools, Bulroc, Drill King, Center Rock, Numa, WooKE and others.