Increase in Demand for Geothermal Resources Anticipated to Drive Global DTH Hammer Bits Market over the Forecast Period: Ken Research

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DTH hammer is recognized as Down-the-Hole hammer. DTH hammer bits are screws attached to DTH hammers, which are used to drill holes through several rocks and associated materials. These bits are basically a small jackhammer screwed to the bottom of a drill string. The bits are made of numerous grades of tungsten carbide and are strong enough to break various kinds of rocks. The bits are available in various sizes from 2” to 36”, with all shanks, multiple head or face design and with numerous tungsten carbide styles to suit a huge variety of drilling conditions. The rate of penetration and bit life are the most vital criteria in selecting the right bit for particular application.

Global DTH Hammer Bits MarketAccording to study, “Global DTH Hammer Bits Market 2019 by Manufacturers, Regions, Type and Application, Forecast to 2024” the key companies operating in the global DTH hammer bits market are Borat Lonyear, Sandvik AB, Halco Rock Tools, Atlas copco, Rockmore, Mincon Group Plc., Center Rock Inc., Bulroc, Givens International Drilling Supplies, Inc., Wooke, Drill King International L.P., Heijingang, Numa Tool Company, SF Diamond, Jentech Drilling Supplies, Top Drill Hammer & Bits, EDM, Prodrill Equipment, Teamwhole, Yikuang, SPM, Sanshan, HaoQuan, Shihua.

Based on product type, DTH hammer bits market is segmented into concave bits, flat face bits, convex bits and hybrid bits. The concave bit design provides good stability during drilling while convex product design is suitable for most drilling applications, abrasive rock to provide a combination of speed and good service life. Based on shape, market is segmented into ballistic and dome or spherical shape. In addition, based on end-user industry, market is segmented into construction industry, waterwell drilling, mining industry, oil & gas industry and others. The construction industry segment is anticipated to witness fastest growth rate due to rise in number of new buildings & skyscrapers during the forecast period.

The DTH hammer bits market is driven by increase in construction sector expenditures, followed by growth in adoption of DTH hammer bits, presence of prominent players, rise in energy demands and increase in demand for geothermal resources for district heating systems, geothermal heat pumps and electricity generation power plants. However, lack of awareness & technical skills coupled with environmental issues may impact the market. Moreover, increase in interest of investors, rise in trend of automation and surge in government funding are key opportunities for market.

Based on geography, the European and North-American regions hold major share in DTH hammer bits market owing to more-intense competition, increase in number of new residential & corporate building and rise in launches in introducing new products in the regions. The Asian-Pacific region is projected to witness higher growth rate due to rise in urbanization & significant increase in the disposable income of people, growth in spending on oil & gas industry, mining, retrofitting over the forecast period. It is estimated that future of the market will be bright on account of growth in renovation of old technologies and constant improvisation and technical advancement in infrastructure development projects during the forecast period. The global market is likely to grow at a CAGR of approximately 0.6% over the next five years, will reach US $1080 million in 2024, from US $1050 million in 2019.

To know more, click on the link below:

Global DTH Hammer Bits Market Research Report

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Ken Research

Ankur Gupta, Head Marketing & Communications

ankur@kenresearch.com

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