Global Surface Drilling Rigs Market

Surface Drilling Rigs Market Segmentation By Method (Top Hammer, Down-the-hole & Others); By Application (Quarrying, Mining, Civil Engineering, Dimension Stone Industry and Other) – Global Demand Analysis & Opportunity Outlook 2027

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Report ID: 892 | Published On: Apr 04, 2022
  1. Introduction
    • Market Definition
    • Market Segmentation
    • Product Overview
  2. Assumptions and Acronyms
  3. Research Methodology
  4. Research Process
    • Primary Research
    • Manufacturers
    • Distributors
    • End Users
    • Secondary Research
    • Market Size Estimation
  5. Executive Summary - Global Advanced Therapy Medicinal Products Market
  6. Analysis of Market Dynamics
  7. Drivers
  8. Trends
  9. Key Market Opportunities for Business Growth
  10. Major Roadblocks for the Market Growth
  11. Regulatory & Standard Landscape
  12. Value Chain Analysis
  13. Potential ATMP Treatment Analysis
  14. Pricing Analysis of Global Advanced Therapy Medicinal Products Market
  15. Use Case Analysis
  16. Pipeline Analysis
  17. Analysis on the Manufacturing Process
  18. Analysis of COVID-19 Impact on the Global Advanced Therapy Medicinal Products Market
  19. Analysis of End-User Market Share of Global Advanced Therapy Medicinal Products
  20. Competitive Positioning
  21. Competitive Landscape
  22. Market Share Analysis of Major Players (%), 2021
  23. Competitive Benchmarking
  24. Novartis AG.
  25. Takeda Pharmaceutical Company Limited
  26. Gilead Sciences, Inc.
  27. Bluebird Bio, Inc
  28. BioMarin Pharmaceutical Inc
  29. Vericel Corporation
  30. Mallinckrodt Pharmaceuticals
  31. UniQure N.V.
  32. JCR Pharmaceuticals Co., Ltd.
  33. Spark Therapeutics, Inc. (Parent Company: Roche)
  34. Kolon TissueGene, Inc.
  35. Global Advanced Therapy Medicinal Products Market Outlook
  36. By Value (USD million)
  37. By Product
  38. CAR-T Therapy, 2021-2031F (USD million)
  39. Gene Therapy, 2021-2031F (USD million)
  40. Cell Therapy, 2021-2031F (USD million)
  41. Tissue Engineered Product, 2021-2031F (USD million)
  42. By Disease
  43. Oncology, 2021-2031F (USD million)
  44. Genetic Disorders, 2021-2031F (USD million)
  45. CNS, 2021-2031F (USD million)
  46. Dermatology, 2021-2031F (USD million)
  47. Others, 2021-2031F (USD million)
  48. By End-User
  49. Hospitals & Clinics, 2021-2031F (USD million)
  50. Research & Academic Institutes, 2021-2031F (USD million)
  51. Global Advanced Therapy Medicinal Products Market by Region
  52. North America, 2021-2031F (USD million)
  53. Europe, 2021-2031F (USD million)
  54. Asia-Pacific, 2021-2031F (USD million)
  55. Latin America, 2021-2031F (USD million)
  56. Middle East & Africa, 2021-2031F (USD million)
  57. North America Advanced Therapy Medicinal Products Market Outlook
  58. By Value (USD million)
  59. By Product
  60. CAR-T Therapy, 2021-2031F (USD million
  61. Gene Therapy, 2021-2031F (USD million)
  62. Cell Therapy, 2021-2031F (USD million)
  63. Tissue Engineered Product, 2021-2031F (USD million)
  64. By Disease
  65. Oncology, 2021-2031F (USD million)
  66. Genetic Disorders, 2021-2031F (USD million)
  67. CNS, 2021-2031F (USD million)
  68. Dermatology, 2021-2031F (USD million)
  69. Others, 2021-2031F (USD million)
  70. By End-User
  71. Hospitals & Clinics, 2021-2031F (USD million)
  72. Research & Academic Institutes, 2021-2031F (USD million)
  73. By Country
  74. US, 2021-2031F (USD million)
  75. Canada, 2021-2031F (USD million)
  76. Europe Advanced Therapy Medicinal Products Market Outlook
  77. By Product
  78. By Disease
  79. By End User
  80. By Country
  81. UK, 2021-2031F (USD Million)
  82. Germany, 2021-2031F (USD Million)
  83. France, 2021-2031F (USD Million)
  84. Italy, 2021-2031F (USD Million)
  85. Spain, 2021-2031F (USD Million)
  86. Russia, 2021-2031F (USD Million)
  87. Netherlands, 2021-2031F (USD Million)
  88. Rest of Europe, 2021-2031F (USD Million)
  89. Asia Pacific Advanced Therapy Medicinal Products Market Outlook
  90. By Product
  91. By Disease
  92. By End User
  93. By Country
  94. China, 2021-2031F (USD Million)
  95. India, 2021-2031F (USD Million)
  96. Japan, 2021-2031F (USD Million)
  97. South Korea, 2021-2031F (USD Million)
  98. Singapore, 2021-2031F (USD Million)
  99. Australia, 2021-2031F (USD Million)
  100. Rest of Asia-Pacific, 2021-2031F (USD Million)
  101. Latin America Advanced Therapy Medicinal Products Market Outlook
  102. By Product
  103. By Disease
  104. By End User
  105. By Country
  106. Brazil, 2021-2031F (USD Million)
  107. Argentina, 2021-2031F (USD Million)
  108. Mexico, 2021-2031F (USD Million)
  109. Rest of Latin America, 2021-2031F (USD Million)
  110. Middle East & Africa Advanced Therapy Medicinal Products Market Outlook
  111. By Product
  112. By Disease
  113. By End User
  114. By Country
  115. GCC, 2021-2031F (USD Million)
  116. Israel, 2021-2031F (USD Million)
  117. South Africa, 2021-2031F (USD Million)
  118. Rest of Middle East & Africa, 2021-2031F (USD Million)

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Inflation and Looming Recession to Haunt Businesses:

In 2023, market players might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain.
Controlling Inflation has become the first priority for global economies from last quarter of 2022 and to be followed in 2023. With skewed economic situations, rise in interest rate by governments to control spending and inflation, spiked oil and gas prices, high inflation, geo-political issues including U.S. & China trade war, Russia-Ukraine conflict to intensify the global economic issues.
The interest rates in the U.S. may be less sensitive in 2023 as compared to 2022; sigh of relief for businesses. Positive business sentiments, healthy business balance sheets, growth in construction spending (private construction value in 2022 stood at $1,429.2 billion, 11.7 percent (±1.0 percent) above the $1,279.5 billion spent in 2021, Residential construction in 2022 was $899.1 billion, up by 13.3 percent (±2.1 percent) from $793.7 billion in 2021, non-residential construction touched $530.1 billion, 9.1 percent (±1.0 percent) above the $485.8 billion in 2021.) showcases minimal impact of recession in the country.
Similarly, spiked spending in the European and major Asia economics including, India, China & Japan to showcase less impact on the global demand.

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Introduction to Surface Drilling Rigs

Drilling rig is an equipment used for the purpose of drilling holes in the earth’s surface to extract oil and water wells. Drilling rigs can be big structures used to drill water, oil or natural gas extraction wells, or they can be small enough that can be moved manually by one person. They play an important role in producing hydrocarbons from wells. Around 70% hydrocarbon production is derived from onshore oil and gas fields and remaining comes from offshore fields.

Surface drilling rigs are used in quarrying, construction and surface mining industry. They are used to lay bore wells, depth foundations of high buildings in construction sites and also for rock cutting and blasting in the quarrying industry. These rigs use the power of hydraulic and mechanical processes for energy transmission when drilling.

Market Size and Forecast

Growing industrialization and burgeoning construction & mining activities have contributed towards the growth of surface drilling rigs market. Construction and mining activities witnessed stagnant growth after the global economy crisis in 2008-2009. Post the crises, both the industries recovered and had a stable growth. The introduction of oil and gas reserves in remote areas and increasing technological advancements has given boost to cost-effective and feasible drilling operations.

The global surface drilling rigs market is anticipated to record a CAGR of around 4.2% over the forecast period i.e. 2019-2027. The market is segmented by method & application. By method, the market is sub-divided into top hammer, down-the-hole and others, out of which, the top hammer segment is anticipated to have significant growth on account of its reliability and high penetration during toughest times. Down-the-hole segment also known as DTH, is the same as small jack hammer, and can drill up to 150 to 500 meters in a day.

The market is further segmented by application into quarrying, mining, civil engineering, dimension stone industry and others, out of which, civil engineering segment is anticipated to have leading shares on account of surface drilling rigs being used in construction sites to lay small split holes for depth foundations. Surface drilling rigs are also used in quarrying industry for rock cutting and blasting. 

Surface Drilling Rigs Market

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In the recent years, the requirement pertaining to the type of drilling rig has changed. Now, high tech rig designs and bigger horse-power rigs are demanded. These rigs are being favored by the drilling business. Highly portable rigs require less manpower say, 2-3 man crew to do the same amount of work which was earlier done by 7-8 men. Land contractors have upgraded their fleet with high horsepower and adding powerful rigs with innovative technological capabilities which offer automated pipe handling and mobility to quickly move from one site to another.

Advancements in technology in relation to oil field discovery and oil drilling have led to the growth of the surface drilling market. Additionally, digital sensors have been used in drilling rigs for recording of massive data that can be later analyzed with the information collected from other fields and can be used to make better decisions. This technology helps in integrating the drilling process digitally such as drilling bit and bottom-hole assembly with the help of a software and in automating mechanical process. Demand for surface drilling rigs has increased to more than 40% as oil prices are improving. The advanced rigs are equipped with AC power system which increase drilling efficiency, consume less fuel and reduce wear & tear.

Growth Drivers

Increasing Investments in Construction

The construction and mining activities have increased in the recent years and new projects have been implemented which require surface drilling and this factor is the key driver contributing towards the growth of the surface drilling rigs market during the forecasted period.

New Advancements and High Performance

In the recent times, the drilling rigs with latest technology have been manufactured which offers high performance and are made to meet the demand of the production cycles and this is anticipated to drive the growth of the market.

Surface Drilling Rigs Market
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High Operational Cost

The cost of operating the surface drilling rigs is high as compared to the rotary drilling rigs which is predicted to restrain the growth of the market during the forecasted period.

Market Segmentation

Our-in depth analysis of the surface drilling rigs market includes the following segments:

By Method

  • Top hammer
  • Down-the-hole
  • Others

By Application

  • Quarrying
  • Mining
  • Civil Engineering
  • Dimension Stone Industry
  • Other

By Region

On the basis of regional analysis, the global surface drilling rigs market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region.

Asia Pacific region holds a major share in the global revenue of surface drilling rigs market owing to the presence of growing economies, such as India and China. Middle East follows Asia Pacific region in terms of market share attributing to huge investments and infrastructural developments in industrial and commercial sector. Additionally, rising construction activities in countries such as Qatar and Saudi Arabia and increasing production of iron, copper in the mining industry has contributed towards the growth of the surface drilling market globally. Europe and North America has been estimated to witness significant growth on account of rising investment in construction activities and growth of the mining industry in the regions.

The surface drilling rigs market is further classified on the basis of region as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity Analysis
  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Opportunity Analysis
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC,  Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth & Opportunity Analysis
  • Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Opportunity Analysis.
  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth & Opportunity Analysis

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Top Featured Companies Dominating the Market

    • Atlas Copco
    • Company Overview
    • Business Strategy
    • Key Product Offerings
    • Financial Performance
    • Key Performance Indicators
    • Risk Analysis
    • Recent Development
    • Regional Presence
    • SWOT Analysis
    • Sandvik
    • Herrenknecht
    • Robbins
    • Akkerman
    • Sunward
    • Furukawa
    • Hausherr
    • Junjin CSM
    • JK Drilling

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