Accuracy and structural integrity remain the hallmark of diamond core drilling in construction industry
According to recently published study, the global market for diamond core drilling in construction was pegged at $420 mn in 2018, and is expected to expand at a CAGR of 8.0% during 2019-2029
Superior features and advantages of diamond core drilling in construction activities such as enhanced accuracy, light-weight & quieter operations, and low dust generations as compared to prevailing conventional drilling technologies are some of the key parameters offering significant impetus to the market growth. With increasing demand for tools with minimum operational complexities and high accuracy, the global market for diamond core drilling in construction is projected to witness robust growth in the coming years.
• The Europe and East Asia markets for diamond core drilling in construction collectively accounted for half of the total revenue in 2018.
• The South Asian market is projected to record a CAGR of ~8% in the coming decade, given the rising demand for building & construction equipment for upcoming residential and commercial infrastructure projects.
• Rig operated diamond core drilling in construction is likely to account for relatively high sales in 2019 and beyond.
• Stitch drilling has been identified as the key drilling technique adopted by construction industry operators for their lower cost and power requirements.
• Although underwater drilling continues to witness slow adoption, it has been garnering traction for application in submerged conditions.
"Significant growth of the global market for diamond core drilling in construction has been weighing on a same scale as ongoing investments in infrastructural development across the globe. With cloud swirling around automation and digitalisation of construction activities, market players are targeted towards modernized equipment, providing operational as well as cost efficiency," says the study analysis.
The global market for diamond core drilling in construction show a high level of competition, as high cost of raw material has restricted the entry of new players. Key players are focusing towards the ergonomics of machine handling, such as height of the operating handle, diameter of grippers, and others, in order to strengthen their position in the global market for diamond core drilling in construction. Considering continued urbanisation and growing investment in infrastructural development in South Asia, stakeholders are viewing the region from target market perspective.
The introduction and implementation of cutting-edge tools have played an important role in the growth of the global construction industry. Innovative techniques such as diamond core drilling in construction have suffice the growing need for safety and higher productivity, and the trend is likely to continue in the years ahead.
These insights are based on a report on Diamond Core Drilling in Construction by Persistence Market Research.