Core Drilling Machines: Introduction
- Core drilling machines are used to remove a part of material such as cement, wood, or rock. It pushes over the surface with a twisting motion to remove the surface or create a hole.
- Core drilling machines are also used in laboratories to cut cores from uniform and non-uniform hard samples, such as natural stone, rock, and concrete.
- Core drilling machines may vary in size, power, and features, depending on the project and material type.
- These machines are used in applications such as in construction to create holes for pipes, mineral exploration etc.
- The global core drilling machine market is projected to expand at a rapid pace during the forecast period owing to increasing demand for core drilling machines in the construction industry.
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Global Core Drilling Machines Market: Dynamics
Global Core Drilling Machines Market: Key Drivers
- Growing demand for core drilling machines from oil & gas, mining, construction, and petrochemical sectors are anticipated to boost the market growth in the near future.
- Population is growing rapidly, due to which building manufacturing and construction demand is increasing. This is expected to boost the demand for core drilling machines in construction industries during the forecast period.
- Increase in consumer disposable income and economic expansion are anticipated to impel the production of minerals in the next few years, which in turn is expected to propel the growth of the core drilling machine market around the world.
- Core drilling machines save time, require less energy, and cut more finished, precise, and accurate holes, which are factors that are likely to push the demand for core drilling machines.
- Increasing consumer inclination toward automated core drilling machines is expected to propel the demand for core drilling machines, thus fueling the global market in the coming years.
High Cost of Core Drilling Machines to Hamper the Market
- Core drilling machines are expensive if customers need large drill bits, and are unaffordable for small-scale industries. This is a major factor expected to hinder the global core drilling machine market in the next few years.
- Furthermore, some core drilling machines have a very strong kick back and generate large amount of dust and noise, which in turn is anticipated to hamper this market.
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North America to Hold Major Share of the Global Core Drilling Machines Market
- North America dominated the global core drilling machine market in 2018 due to industrialization and increasing application areas of core drilling machines in the region. The U.S. is a key market in North America due to the presence of global players and high demand for core drilling machines in the country. Europe is anticipated to hold the second largest share of the global core drilling machine market in 2019.
- The core drilling machine market in Asia Pacific is projected to expand at a rapid pace over the forecast period. This can be attributed to increasing infrastructure development and growing economies in the region.
Global Core Drilling Machines Market: Competitive Landscape
Key Players Operating in the Global Core Drilling Machines Market
Numerous local, regional, and international players manufacture core drilling machines. Hence, the core drilling machine market is fairly fragmented and the bargaining power of suppliers is low. The degree of competition among market players is also high. Core drilling machine manufacturers are focused on portfolio expansion and product differentiation and adopt two vital strategies: acquisition and new product development. Key players operating in the global core drilling machine market are:
- Atlas Copco Construction Tools
- CS Unitec, Inc.
- Elektrowerkzeuge GmbH Eibenstock
- Hilti India Private Limited
- LISSMAC Maschinenbau GmbH
- OTTO BAIER GmbH
- Emerson Electric Co. (RIDGID)
- ROTHENBERGER Werkzeuge AG
- SPARKY GROUP
Global Core Drilling Machines Market: Research Scope
Global Core Drilling Machines Market Segmentation, by Type
- Electric Core Drilling Machines
- Hydraulic Core Drilling Machines
- Pneumatic Core Drilling Machines
Global Core Drilling Machines Market Segmentation, by Application
- Construction Industry
- Petrochemical Industry
- Oil & Gas
Global Core Drilling Machines Market Segmentation, by Region
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
- South America
- Rest of South America
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.