Global Portable Drilling Rig Market: Overview

A drilling rig is a mechanical device utilized for drilling oil wells, natural gas wells and water wells. Portable drilling rigs can be man portable drilling rigs; they can be also truck/ trailer mounted and heli-portable drilling rigs. The overall market for portable drilling rigs has been fragmented on the basis of product type, end-user applications and geography to provide an overall picture of the portable drilling rig market. On the basis of product type, the market for portable drilling rigs has been segmented as man-portable drilling rigs, truck mounted portable drilling rigs and heli-portable drilling rigs. On the basis of applications, the market for portable drilling rig has been segmented based on its application in various industries such as mining, oil and gas exploration, ground water exploration, and geothermal drilling.

The man portable drilling rig is designed especially for diamond mining at inaccessible locations and complex terrain. The modularized design of man portable drilling rigs by various manufacturers allows its convenience to disassemble into light pieces and transportation to the job site location at complex terrain that are not easily accessible by conventional drilling rigs. The heli-portable drilling rigs are designed to allow fast rig to move at complex locations (swamp and mountainous regions) via helicopter lifting. The heli-portable drilling rig can be customized based on the customer requirements to cater for a higher specification or cost competitive configuration. The drilling rigs are mounted on the truck using a separate drill rigs sub frame design that permits stable mounting of truck mounted portable drilling rigs.

Global Portable Drilling Rig Market: Drivers

The primary drivers of growth are in the portable drilling rig market are increasing number of research and development projects on portable drilling rigs owing to desire to cater environmentally sustainable and socially responsible mandate by mining corporations is fueling demand in portable drilling rig market. The portable drilling rig allows drilling in remote areas where access of traditional drilling rigs is difficult on account of lack of infrastructure and social and environmental issues. The conventional rigs are moved either by air or truck which require the construction of roads and bridges to gain access to the drilling sites. A portable drilling rig allows the companies to reduce their transportation cost that is associated with conventional rigs. However, high operational cost associated with the drilling process can hamper the growth of portable drilling rig market. Increasing demand for oil and gas exploration creates ample of opportunities in portable drilling rigs market.

Global Portable Drilling Rig Market: Regional and Competitive Outlook

Asia Pacific is expected to account for the maximum demand of the portable drilling rig on account of increasing diamond drilling activities in countries such as China and India. Additionally, oil prices diverged from natural gas which led to increasing oil drilling programs, driving the demand for global drilling rig market. Ample of opportunities in the offshore drilling market, powered by the Deepwater Golden Triangle, are expected to drive the market in near future.

Energold has taken strategic initiatives and embarked on a growth plan to be a vertically designer, manufacturer, and contractor of specialized drilling rigs, components, and services in the mineral exploration industry. King River Copper Limited is drilling 11 diamond holes in Australia using a portable diamond drill rig. This allows the company to early access to seasonally restricted project and drilling in steep and difficult terrain.

Some of the key players in the portable drilling rig market include Astec Industries, Inc., Bertram Drilling Corp., Bundok Drilling Services Corp., Indodrill, Ingetrol, and Schramm, Inc.

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
  • Europe
  • 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.

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Portable Drilling Rig Market