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Diamond Core Drilling in Construction Market Segmented By Hand Held, Rig Operated with Stitch Drilling, Underwater Diamond Drilling Technique
Diamond core drilling, a fastening power tool that uses a rotary diamond drill which is attached to a machine to create precise holes in the wall, has been gaining increasing application in the construction industry.
Regarded as the hardest cutting material in the world, diamond drill bits are used to create openings in a range of materials including metal as well as in wet concrete and dry concrete. PMR’s report exclusively focuses on sales of new diamond core drilling equipment for the construction industry.
Recording a CAGR of ~8% during the forecast period of 2019-2029, the global market for diamond core drilling in construction is estimated to reach a value of ~US$ 990 Mn by 2029-end.
A prolific increase in the population is indirectly shaping the construction industry across the globe. In recent times, diamond core drilling in construction has been increasingly used to make holes in the floors, walls, and others, which safely solves various challenges, saves on labor costs, and ensure structure stability. Rapid renovations and repair of existing structures further remains promising for the growth of the global market for diamond core drilling in construction.
The construction of multi-story buildings has led to increase in the adoption of diamond core drilling tools of 100 mm dia and 250 mm dia. Such diameter range remains preferred among the end users, as they allow to drill an accurate hole on dry concrete as well as wet concrete.
Diamond core drilling tools for construction industry offer various advantages over traditional tools such as the chisel, hammer drills, drilling tools, etc. These conventional tools require more time to make a single hole in the wall as well as an increased number of workforce to operate. For single holes, the conventional tools may be successful to an extent. However, they are likely to blur the design and dimension of walls.
On the contrary, the diamond core drilling tools can drill single as well as a bunch of holes in relatively less time without affecting the aesthetic appearance of walls or roof. Additionally, these tools can drill at any angle with the same efficiency as that of horizontal drilling, and the result is likely to influence the global market growth for diamond core drilling in construction.
The value of global construction industry is projected to reach nearly US$ 10 trillion by the end of 2020. Interestingly, East Asia and Europe cumulatively hold a noteworthy share in the same. Furthermore, global construction spending is estimated at US$ 9 trillion in which North America is expected to account for a 15% share.
Growth in the residential sector coupled with the ongoing infrastructure investments is creating significant business opportunities in the diamond core drilling in construction landscape.
The South Asian market for diamond core drilling in construction is expected to grow ~8% annually through 2029, owing to increasing number of trade association with foreign countries. For instance, in 2018, India signed “Ashgabat Agreement” in order to easily export products to Europe and North America.
Growth prospects of the market for diamond core drilling in construction are further expected to increase in Middle East & Africa, owing to increasing investments in infrastructural development, especially in GCC countries.
The global market for diamond core drilling in construction show a fair level of consolidation, with presence of limited number of players. Leading players are continuously focusing on new product launches and business expansion through collaborations and M&A activities to achieve stronger global footprint and maintain supremacy in the market.
Key stakeholders are also investing hefty sums of money in developing countries in order to create their brand image and to pave the path for business development.
Countries such as China, the U.S., Indonesia, and India are likely to offer greater opportunities for stakeholders operating in the global market for diamond core drilling in construction. Pricing pressure has been compelling manufacturers to lower the price of their products to sustain sales and target a large section of end users.
PMR’s study on the global diamond core drilling in construction market is divided into three significant segments by operation, drilling technique, and region. This report offers comprehensive data and information about the important market dynamics and growth parameters related to these categories.
The diamond core drilling in construction market report provides significant information pertaining to the abovementioned segments in the global diamond core drilling in construction market.
The final part in the market background is included in the forecast factors, which includes the study of factors that are expected to have an impact on the diamond core drilling in construction market. These factors include demand for forestry products, technology adoption, and other key insights about the diamond core drilling in construction market.
A section dedicated to the pricing analysis of diamond core drilling in construction has been provided on the basis of log diameter on regional fronts, whose weighted average selling price has been computed to arrive at the global average prices. This pricing analysis provides pricing by each configuration. Assumptions and key considerations for the same have also been explained.
The following sections consist of the global diamond core drilling in construction market analysis by operation, drilling technique, and region/country. The overall analysis of the diamond core drilling in construction market begins with the overall global market assessment, followed by the analysis of numerous regions citing the macroeconomic environment of each particular region.
Each regional section of the report contains qualitative data and quantitative aspects of the global diamond core drilling in construction market.
In the final section of the report, we have provided a competition analysis with the company market share analysis about diamond core drilling in construction, and the performance of manufacturers by tiers. In the competition dashboard section of the global diamond core drilling in construction market report, we have provided a dashboard view of prominent players, along with market share and their key business strategies.
This helps clients understand the strategies deployed by market players and allows them to develop effective strategies accordingly.