The global air core drilling market is poised to grow at a robust pace during the forecast period (2016 – 2022) on account of increasing requirement for effective techniques for extraction in applications such as mines and oil and gas wells.
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Air core drilling is suitable for soft rock and soil formations that do not require heavy machineries to drill to the desired depth. This technology is used by mining companies as it provides instant switch between complementary drill bits, continuous sample returns and reduced times in moving between boreholes, which maintain the ore grade of the mineral samples.
The growing application of air core drilling in the commercial and industrial sectors, and the diminishing ore grades are expected to boost extensive mineral exploration and mining activities.However, the political economy, labor costs, access to land and environmental regulations are expected to negatively impact the global mining industry during the forecast period.
In terms of application, the dust application creates the maximum demand in the global air core drilling market. This technology is used to reduce hydrostatic pressure in the wellbore and is widely used in mature sedimentary basins that have consolidated hard rock formations.
Geographically, North America has been the largest market in the global air core drilling market, in terms of value. The major factors fueling the growth of the North American market include technological advancements and growing applications of efficient drilling techniques for loose soil hydrocarbon regions.
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Asia-Pacific is expected to witness the fastest growth rate in the global air core drilling market, in terms of value, during the forecast period, followed by Middle East and Africa.
The key players operating in the global air core drilling market include Schlumberger, Halliburton, Baker Hughes, Weatherford International Inc., Atlas Copco, Allis Chalmers and Archer Limited, among others.
The key players operating in the global air core drilling market include Schlumberger, Halliburton, Baker Hughes, Weatherford International Inc., Atlas Copco, Allis Chalmers and Archer Limited, among others.
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