Global Construction Industry Core Drill Market Is Valued At 920 Million US$ In 2017

Urbanization continues to grow strongly. In 2015, approximately 54 per cent of the world’s population lived in urban areas.   By 2050, the corresponding figure is expected to rise to 66 per cent of the world’s population. Urbanization is fastest in Africa and Asia, and is expected to gain 56 per cent (Africa) and 64 per cent (Asia) proportion of urban population by 2050. In 2015, the corresponding percentage for urban population was 40 (Africa) and 48 (Asia). In 2015, the most urban regions were Northern America (82 per cent), Latin America and the Caribbean (80 per cent) and Europe (74 per cent). Continued urbanization is expected across the globe over the coming decades.

Urbanization and the increasing need for mobility of people and goods drives demand for new investments in infrastructure construction, such as highways and subways and underground construction, especially in the emerging markets, where urbanization and population growth are strongest. In the developed countries and regions investments in infrastructure construction are also made to renovate and modernize the existing infrastructure. The concentration of people in urban areas and increasing land prices increases the need for demanding construction and tunneling applications in, for example, tunnels and bridges, underground parking halls or underground municipal water treatment facilities and oil storages that require specialized rock excavation and ground piling and underpinning. Moreover, construction and infrastructure investments increase the demand for minerals and rock material.

Construction markets include broadly different kind of construction and technical projects, such as highways, railways, airports, harbors and community development facilities, industrial buildings, skyscrapers and power plants. The construction projects may include entirely new objects or they can be additions or alterations, or maintenance projects. According to the division of the company´s market segments, tunneling has been separated to its own special field and therefore not included in the construction markets.

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Drilling methods used in construction are excavation of foundations of buildings and excavation of road cuttings, piling, micropiling and underpinning. Piling and underpinning are used to support soft soil before beginning the actual construction or to prevent sinking of existing constructions. In addition, drilling in the field of construction is used in so called anchorage, in which softer soil is fastened to bedrock, horizontal drilling for inserting different kinds of cables and water pipes under roads and other constructions without breaking the surface as well as sampling drilling to determine the soil in the ground. Drill and blast method is also used in production of rock material required in manufacturing concrete and tarmac.

Market trends and market overview. According to the view of the company´s management, the construction markets are driven mostly by urbanization and infrastructure construction, especially in the emerging markets, where urbanization and demand for associated infrastructure is increasing. In the industrialized markets, construction requires more demanding techniques, among others, in expanding subway and other underground facilities as well as road network. Usage of drilling piling, which reinforces the foundation, is increasing worldwide and the market seems promising as the projects and operators grow and international contracts expand. The demand for consumables relating to excavation is growing as the buildings reach further down to soil.

The global Construction Industry Core Drill market is valued at 920 million US$ in 2017 and will reach 1440 million US$ by the end of 2025, growing at a CAGR of 5.8% during 2018-2025.

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