Mining Drill Bits Market Size, Trends, Opportunities, Innovations & Forecast till 2026
According to a new report published by KD Market Insights , titled, “ Mining Drill Bits Market by Type, Material, Operation, and Bit Size: Global Opportunity Analysis and Industry Forecast, 2019–2026,” the global mining drill bits market size was valued at $1,145,000 thousand in 2018, and is projected to reach $1,711,800 thousand by 2026, growing at a CAGR of 5.1% from 2019 to 2026. The drill bits equipment is used for drilling earth surface and breaking rocks in the mining industry. Types of drill bits include rotary, DTH hammers bits, anchor bits, cross bits, and chisel bits. In 2018, Asia-Pacific dominated the global market, in terms of revenue, accounting for around 48.7% share of the global market, followed by LAMEA. Based on type, the rotary drill bits segment accounted for around 79.1% in overall global mining drill bits market share in 2018. The DTH hammers bits segment is expected to witness significant growth during the forecast period. The key fac...