Mining Equipment & Services · Indirect
Monitoring · monthlyProcurement Category Intelligence
Mineral Exploration Drilling Services
Overview
Market size
$19.5B
global, USD
CAGR
6.8%
base to forecast
Buyer power
-2.4
supplier-favoured
Suppliers
5
tracked players
Signals
12
1 high severity
Market outlook
2031$27.1B
What changed
Demand by region
North America demand30%
Australia demand25%
Latin America demand20%
Africa demand15%
Rest of world demand10%
share of global demandtotal 100%
Cost drivers
Labor and drilling crews40%
Equipment maintenance and depreciation25%
Consumables like drill bits, rods, and fluids15%
Fuel and power12%
Logistics and overhead8%
share of delivered cost (analyst estimate)