Raise Boring Rig Market Revenue was valued at USD 1.5 Billion in 2024 and is estimated to reach USD 2.5 Billion by 2033, growing at a CAGR of 6.2% from 2026 to 2033.
The global raise boring rig market was valued at approximately USD 1.5 billion in 2022 and is projected to grow at a compound annual growth rate (CAGR) of 6.3% from 2022 to 2030. This growth is driven by the increasing demand for efficient mining techniques, particularly in underground construction and mining projects. The demand for advanced raise boring rigs is rising due to their capability to create vertical and inclined holes, providing better safety, precision, and cost effectiveness in drilling applications. The market is primarily fueled by the need for mineral exploration, infrastructure development, and tunneling projects worldwide. Furthermore, the growing adoption of automated and technologically advanced raise boring rigs contributes to the overall market growth.
Regionally, the Asia Pacific (APAC) region dominates the raise boring rig market, accounting for over 40% of the global market share in 2022. The rapid industrialization in countries like China, India, and Australia, alongside their increasing investments in mining and tunneling sectors, significantly contribute to the demand for raise boring rigs. North America follows closely, with the United States being a significant contributor due to its well established mining industry. Europe also holds a considerable share, driven by technological advancements and stringent safety regulations in mining operations. Additionally, the Middle East and Africa (MEA) and Latin America are expected to witness substantial growth in the coming years due to infrastructure expansion and mining activities in these regions. The global market offers significant growth opportunities, especially in untapped markets such as Africa and Latin America, where mining operations are expanding rapidly.
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Epiroc
Herrenknecht
TRB-Raise Borers
Palmieri Group
Terratec
Stu Blattner
Changzhou Liding Colliery Machinery
Chuangyuan High-Tech Machinery
Jining Zhuoli Industrial Equipment
Yier Mechanical
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By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global Raise Boring Rig Market
Hydraulic Raise Boring Rig
Electric Raise Boring Rig
Mechanical Raise Boring Rig
Less than 3 meters
3 to 6 meters
More than 6 meters
Mining
Construction
Oil & Gas
Tunneling
Others
Mine Shaft
Tunnel Construction
Water Wells
Ventilation Shafts
Drill Rig
Drill Head
Drilling Tools
Power Systems
Control Systems
US (United States, US and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global Raise Boring Rig Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global Raise Boring Rig Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Raise Boring Rig Market, By Type
6. Global Raise Boring Rig Market, By Application
7. Global Raise Boring Rig Market, By Geography
US
Europe
Asia Pacific
Rest of the World
8. Global Raise Boring Rig Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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