Japan Mining Drilling Services Market Size, Share, and COVID-19 Impact Analysis, By Mining Type (Metal, Coal, Mineral, and Quarry), By Type (Surface Mining, Underground Mining), and Japan Mining Drilling Services Market Insights Forecasts 2023 – 2033

Industry: Energy & Power

RELEASE DATE Jan 2024
REPORT ID SI3425
PAGES 200
REPORT FORMAT PathSoft

Japan Mining Drilling Services Market Insights Forecasts to 2033

  • The Market Size is Growing at a CAGR of 6.8% from 2023 to 2033.
  • The Japan Mining Drilling Services Market Size is Expected to Hold a Significant Share by 2033.

 

Japan Mining Drilling Services Market

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The Japan Mining Drilling Services Market Size is Expected to Hold a Significant Share by 2033, at a CAGR of 6.8% during the forecast period 2023 to 2033.  

 

Market Overview

Mining drilling services are contract drilling operations performed for the extraction of minerals, metals, and coal. Mining drilling services include mine closure, exploration, production, and development, as well as body characterization, and underground, and surface blast hole drilling. Mining drilling services improve the accuracy and efficiency of mining operations while also increasing worker safety, which is the reason they are used in mineral, quarry, and coal mining. Increase efforts to revitalize the mining industry, as Japan relies heavily on mineral and metal exports for domestic consumption. Iron and steel production on a large scale in the country necessitates extensive extraction and processing before it can be utilized. Furthermore, rising energy demands as a result of rapid industrialization and urbanization are driving the adoption of advanced services to meet domestic demand. The Japanese government has suggested that power companies maintain higher efficiency in thermal plants, as well as plants that use petroleum and liquefied natural gas. Favorable government policies promoting domestic metal and nonmetal extraction, as well as extensive research and development activities, are expected to create growth opportunities for the Japan mining drilling services market.

 

Report Coverage

This research report categorizes the market for Japan mining drilling Services market based on various segments and regions forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the Japan mining drilling Services market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the Japan mining drilling services market.

 

Japan Mining Drilling Services Market Report Coverage

Report CoverageDetails
Base Year:2023
Forecast Period:2023-2033
Forecast Period 2023-2033 CAGR:6.8%
Historical Data for:2019-2022
No. of Pages:200
Tables, Charts & Figures:110
Segments covered:By Mining Type, By Type and COVID-19 Impact Analysis.
Companies Covered:Furukawa Co. Ltd., Action Drill & Blast, Sumitomo Metal Mining Co., Ltd., Nittetsu Mining Co., Ltd., Boart Longyear Mining Company, United Tractors, Perenti Global Limited and Other Key Vendors.
Pitfalls & Challenges:COVID-19 Empact, Challenge, Future, Growth, & Analysis

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Driving Factors

The growing popularity of low-emission transportation and emission systems has an impact on the demand for mining mineral sources. The use of advanced technology in automobiles to integrate components that use mineral-based fuel instead of fossil-based fuel contributes to market growth. Favorable government policies to support the extraction of domestic metals and nonmetals, in addition to extensive research and development activities, are expected to create growth opportunities for the Japan mining drilling services market. Rising energy demands as a result of rapid industrialization and urbanization are driving the adoption of advanced services to meet domestic demand. Coal is extracted in Japan and used in a variety of applications, including electricity generation. The Japanese government has proposed that power companies maintain higher efficiency in thermal plants and plants that use petroleum and liquefied natural gas.

 

Restraining Factors

The mining industry has significant environmental impacts as a consequence of mining practices. Mining activity has the potential to severely pollute the air and water, harm wildlife and habitats, and permanently alter natural landscapes. As this happens, both modern and abandoned mines cause significant environmental damage.

 

Market Segment

  • In 2023, the metal segment accounted for the largest revenue share over the forecast period.  

Based on mining type, the Japan mining drilling services market is segmented into metal, coal, mineral, and quarry. Among these, the metal segment has the largest revenue share over the forecast period. Metals are used in a variety of industries, including the electrical, construction, and automotive industries, and mineral mining is critical to manufacturing. Mining services are commonly used to extract precious metals such as gold, platinum, and silver. Drilling services for mining metals will increase during the forecast period due to rising demand for these metals. Furthermore, industrial-based metals such as copper, aluminum, steel, and zinc, which are commonly used across multiple industry verticals such as construction, manufacturing, and technology, improved the market growth.

 

  • In 2023, the surface mining segment is witnessing significant CAGR growth over the forecast period.

Based on type, the Japan mining drilling services market is segmented into surface mining and underground mining. Among these, the surface segment is witnessing a significant CAGR growth over the forecast period. Surface mining, which involves removing the terrain's surface to gain access to minerals beneath, is the most common type of mining and is primarily used to extract crushed stone, sand, rock, phosphates, aluminum, copper, and coal. Surface mining is used by mining operators to extract mineral segments such as sand, gravel, crushed stone, phosphates, coal, copper, iron, and aluminum, among others. Another advantage of surface mining is increased safety. Since surface miners are not exposed to the same risks as underground miners, surface mining can be less expensive than other mining methods. Miners do not need to go as deep to access resources because they work on the surface.

 

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the Japan mining drilling services market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

 

List of Key Companies

  • Furukawa Co. Ltd.
  • Action Drill & Blast
  • Sumitomo Metal Mining Co., Ltd.
  • Nittetsu Mining Co., Ltd.
  • Boart Longyear Mining Company
  • United Tractors
  • Perenti Global Limited
  • Others

 

Key Target Audience

  • Market Players
  • Investors
  • End-users
  • Government Authorities 
  • Consulting and Research Firm
  • Venture capitalists
  • Value-Added Resellers (VARs)

 

Market Segment

This study forecasts revenue at regional, and country levels from 2022 to 2033. Spherical Insights has segmented the Japan Mining Drilling Services Market based on the below-mentioned segments:

 

Japan Mining Drilling Services Market, By Mining Type

  • Metal
  • Coal
  • Mineral
  • Quarry

 

Japan Mining Drilling Services Market, By Type

  • Surface Mining
  • Underground Mining

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