air core drilling market

Global air core drilling market growth expected to be driven by, increasing exploration and production activities across the globe

Air core drilling uses steel or tungsten blades to bore a hole into unconsolidated ground. It is mainly used to drill into soft rocks and soil formations that don’t need heavy machinery to drill through to the desired depth. Drilling bit consists of three blades and are fixed around the bit head. Air core drilling is preferred over RAB drilling as it provides a more representative sample.

A major factor driving growth of the global air core drilling market is increasing government initiatives, for exploration & production of and from hydrocarbons reserves to fulfill energy demand. Also, increasing bore well penetrating activities and growing energy demand from various end use industries are other factors expected to boost growth of the target market over the forecast period.

Stringent government regulations on carbon outflows and certain restrictions for drilling activities are key factors limiting growth of the global air core drilling market. In addition, high capital investment and lack of skilled labours are other factors hindering growth of the target market over the forecast period.

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The global air core drilling market is segmented on the basis of application, end-user, and region. On the basis of region, the target market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

North America market accounted for largest market share in terms of revenue in the global air core drilling market, as compared to that of markets in other regions. This can be attributed to rising demand for productive boring methods for free soil hydrocarbon reserves in countries in the region. Owing to growth in oil & gas exploration and production (E&P) activities, and increasing energy consumption in countries such as China, India, etc., the market in Asia Pacific is expected to register highest growth rate with CAGR of XX.X% over the forecast period. Moreover, the market in Middle East & Africa is anticipated to witness moderate growth in the target market, due to presence of sand hydrocarbon reserves in the region.

Prominent players in the global air core drilling market include Schlumberger Limited, Atlas Copco AB, Baker Hughes, a GE company, LLC, Weatherford International plc, Halliburton Company, Geodrill Limited, Master Drilling Group Ltd, Brown Bros Drilling, Bostech Drilling Pty Ltd., and Ausdrill Limited.

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