Underground Mining Diamond Drilling Market: Global Industry Analysis and Forecast (2025-2032)

Global Underground Mining Diamond Drilling Market size was valued at USD 3.6 Bn. in 2024, and the total Underground Mining Diamond Drilling Market revenue is expected to grow by 5.2% from 2025 to 2032, reaching nearly USD 5.40 Bn.
Underground Mining Diamond Drilling Market Overview:
The Underground Mining Diamond Drilling Market is a specialized segment of the broader mining equipment industry, utilizing diamond drill bits to extract high-quality geological samples with minimal damage. These drilling techniques are designed for deep-core extraction and are essential to the mineral exploration sector, providing detailed drill logs that help map geological formations for future resource extraction.

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Advancements in high-performance drill bits and automated drilling rigs have significantly enhanced supply-side capabilities, especially in remote and deep mining operations. These innovations are enabling more efficient and accurate drilling, helping companies access previously unreachable deposits and improve operational productivity.

The Underground Mining Diamond Drilling Market is experiencing growth opportunities driven by increasing demand for precious and base metals, particularly gold, copper, and lithium. As global interest in electric vehicles, renewable energy, and technology accelerates, the need for these critical minerals continues to rise, fueling exploration and drilling activities.

Regionally, North America and Asia Pacific are identified as key players in the Underground Mining Diamond Drilling Market. Canada's strong mining infrastructure, China’s active mineral engagement, and Australia’s stable and resource-rich mining environment contribute significantly to the market's expansion.

Key companies operating in the Underground Mining Diamond Drilling Market include Sandvik AB, Boart Longyear, Epiroc AB, Atlas Copco, and Sinomine Resource Group. According to the report, the metal mining and mineral exploration sectors are the primary contributors to the market’s revenue share, underscoring their critical role in shaping the future of underground mining technologies.

The report study has analysed the revenue impact of the COVID-19 pandemic on the sales revenue of market leaders, market followers and disrupters in the report and the same is reflected in our analysis.

Underground mining diamond drilling includes diamond core drill bits, which are equipped with drilling systems, for example, rotary or wireline drilling systems. Deployment of efficient coring drilling rings in the exploration phase entails extensive capital investment. Mining companies invest significantly in installation and testing of mined samples over coring systems.

Growing the demand for base metals such as nickel, lead, copper, and zinc and precious metals for instance, gold, silver, and diamond, is expected to boost investments in the metal mining business. This is possible to augment the demand for diamond core drill bits that are used in underground mining of hard rocks. Diamond core drill bits are mostly employed in the exploration industry, especially for hard rocks, as the penetration of diamond bits is higher than that of other materials. In 2024, Halliburton Company released Cerebro in-bit sensor package, a new and advanced technology that obtains performance data directly from the drill bit and analyses it to optimize cutter engagement, reduce uncertainty, and increase drilling efficiency.
Underground Mining Diamond Drilling Market Dynamics:
Increasing Demand for Minerals and Metals to Drive Underground Mining Diamond Drilling Market Growth

The global underground mining diamond drilling market is being driven by the rising demand for minerals and metals, particularly lithium, copper, and rare earth elements, which are essential for renewable energy technologies and electric vehicles. The energy transition is expected to double the demand for these critical minerals by 2030, prompting mining companies to expand exploration activities. Diamond drilling, known for its precision and efficiency in extracting core samples, is becoming indispensable for mineral exploration in underground mines, thereby fueling market growth.

Adoption of Automation and Digital Technologies to Create Underground Mining Diamond Drilling Market Opportunity

The integration of automation, AI, and IoT in underground mining presents a significant opportunity for the diamond drilling market. Advanced drilling rigs equipped with real-time data analytics and remote operation capabilities enhance accuracy, reduce downtime, and improve worker safety. As mining companies invest in smart mining solutions, diamond drilling service providers can leverage these technologies to offer more efficient and cost-effective services, gaining a competitive edge in the market.

High Operational Costs and Environmental Regulations to Create Underground Mining Diamond Drilling Market Challenges

Despite growth prospects, the underground mining diamond drilling market faces challenges related to high operational costs and stringent environmental regulations. Drilling in deep and complex ore bodies requires substantial capital investment in equipment and skilled labor. Additionally, increasing scrutiny over sustainable mining practices forces companies to adopt eco-friendly drilling methods, which may increase compliance costs. Balancing profitability with environmental responsibility remains a key challenge for industry players.
Underground Mining Diamond Drilling Market Segmentation Analysis
Based on type, Underground Mining Diamond Drilling Market is segmented into rotary drilling and Wireline drilling. The Wireline drilling segment dominated the underground mining diamond drilling market by xx% in 2034. The order intake for underground mining diamond drilling equipment, for instance, wireline drilling, has increased across the globe owing to the constant demand for these drilling solutions among underground mine operators.
Underground Mining Diamond Drilling Market Regional Insight
Region-wise, North America was the largest revenue-generating region in the underground mining diamond drilling market in 2024 and is anticipated to continue its dominance in the market by 2032. In North America, the US dominated the underground mining diamond drilling market. Some players in North America supply core drill bits along with complete drill rig solutions. These include Peak Drilling Ltd., SCS Diamond Drilling, and American Diamond Tool. The market in Canada is anticipated to expand at a rapid pace in the Forecasted Period. Star-Orion South Diamond Project pilot hole core drilling was completed in 2024.

Latin America is an important region of the global underground mining diamond drilling market. Increasing investments in the extraction of underground minerals are expected to augment the demand for hard rock mining in Latin America. Countries in Latin America are starting to shift to underground mining from open-pit mining. South Africa was the moderate revenue-generating region in the underground mining diamond drilling market in 2024. Relative to global averages, exploration spending in South Africa is more focused on gold, diamonds and PGMs than on base metals and industrial minerals. Geographically, over 50% of South African non-ferrous exploration spending is focused in South Africa, DRC, Burkina Faso, Ghana and Zambia.
Competitive Landscape of Underground Mining Diamond Drilling Market
The global underground mining diamond drilling market is moderately concentrated, with its major players competing with diverse technological innovation, efficiency of service, and extent of geography. There are leading companies such as Major Drilling Group International, Boart Longyear, Foraco International, Orbit Garant Drilling, and Geodrill Ltd, who have well-established businesses based on wide-ranging historical expertise in mineral exploration, as well as expertise in advanced drilling technologies. Continued investment into automation, which includes continued emphasis on real-time data analytics to improve performance and safety using remotely controlled drilling machines in substantial underground environments, as well as continuous investment and development of industry engagement, research and development to support automated processes when it comes to minerals mining found underground. The competitive landscape also exhibits varied interest when it comes to sustainability as well as technological innovation changes throughout the market and regions (there was a lot of interest and discussion about sustainability amongst the major players, and continued research and development to support the development of energy-efficient and low-emission equipment) as well as their expanding footprints into more resource-rich dominant countries situated globally across Africa, South America, and South Asia, as well as interest through mergers to expand footprint in continuities in such regions. Many of the market leaders offer a collectivized service to their clients that includes integrated services providing core drilling and monitoring, geology mapping and so on, thus providing higher value on deliverables. The report presented, discusses and looks at each player’s market share, capabilities and service differentiation, so the readout presents some competitive themes moving forward.

Underground Mining Diamond Drilling Market Recent Developments

1. May, 2025 – Europe (Netherlands/Germany) – Hitachi Construction Machinery (Europe) & Element Six

Hitachi collaborated with TU Delft to develop predictive maintenance systems for underground mining rigs, while Element Six partnered with Master Drilling to introduce a new diamond-enabled tunneling technology aimed at improving speed and cost-efficiency.

2. May, 2025 – Europe (Italy) – Comacchio S.R.L.

Comacchio launched the upgraded MC 22 underground diamond core rig (formerly MC 1200), featuring enhanced performance, modularity, and an improved operator interface to meet evolving underground exploration needs.

3. April, 2025 – Asia (India) – Epiroc

Epiroc inaugurated a new manufacturing facility in Hyderabad to produce underground rock drilling tools, supporting increased demand for core drilling solutions in India and other parts of Asia.

4. March, 2025 – Southeast Asia – Sandvik AB

Sandvik secured a SEK 450 million contract to supply underground development drills, bolters, and haulage equipment for a major mining project in Southeast Asia, with deliveries scheduled through early 2026.

5. October, 2023 – Australia – Swick Mining Services

Swick Mining advanced its Gen3 electric diamond drilling rig, with prototype testing in Western Australia. The new E-Rig features remote rod handling and is expected to reduce the carbon footprint by approximately 50% per meter drilled.

Underground Mining Diamond Drilling Market Key Trends

1. Shift Toward Electrification and Automation
Mining companies are increasingly adopting electric and automated diamond drilling rigs to improve operational efficiency, safety, and reduce emissions.
Example: Swick Mining Services’ Gen3 E-Rig is expected to cut carbon emissions by ~50% per metre drilled.

2. Rising Demand for Deeper Core Sampling in Hard Rock Exploration
With deeper mineral reserves being targeted, there’s a growing preference for high-capacity diamond drilling in hard rock formations.
Example: Wireline drilling systems are now reaching depths of up to 2,500 meters for core extraction.

3. Integration of Real-Time Data and Smart Monitoring Systems
Drilling operations are increasingly integrating digital monitoring tools for core analysis, efficiency tracking, and predictive maintenance.
Example: Sandvik’s AutoMine system improved drilling cycle efficiency by ~15% through autonomous operation.
Underground Mining Diamond Drilling Market Scope: Inquire before buying



Global Underground Mining Diamond Drilling Market


Report Coverage
Details


Base Year:
2024
Forecast Period:
2025-2032


Historical Data:
2019 to 2024
Market Size in 2024:
USD 3.6 Bn.


Forecast Period 2025 to 2032 CAGR:
5.2%
Market Size in 2032:
USD 5.40 Bn.


 Segments Covered:
by Type
Rotary Drilling
Wireline Drilling


by Application
Soft Rock
Hard Rock



Underground Mining Diamond Drilling Market, by Region
North America (United States, Canada, and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria, and the Rest of Europe)
Asia Pacific (China, South Korea, Japan, India, Australia, ASEAN, Indonesia, Philippines, Malaysia, Vietnam, Thailand, ASEAN, Rest of Asia Pacific)
Middle East & Africa (South Africa, GCC, Nigeria, Rest of ME&A)
South America (Brazil, Argentina, Rest of South America)
Underground Mining Diamond Drilling Market, Key Players
North America
1. Major Drilling Group International Inc. – Canada
2. Boart Longyear – USA
3. Orbit Garant Drilling Inc. – Canada
4. Hy-Tech Drilling Ltd. – Canada
5. Layne Christensen Company (part of Granite Construction) – USA
Europe
1. Foraco International SA – France
2. Comacchio S.R.L. – Italy
3. Eurodrill GmbH – Germany
4. Geotec Bohrtechnik GmbH – Germany
5. Massenza Drilling Rigs – Italy
Asia-Pacific
1. Swick Mining Services – Australia
2. Geodrill Ltd. – Operating in Asia/Africa
3. Epiroc – Sweden (Active operations across APAC)
4. Drillman Pty Ltd – Australia
5. Australian Underground Drilling – Australia
Latin America
1. Energold Drilling Corp. – Operating in multiple LATAM countries
2. AK Drilling International – Peru
3. Perforaciones Andesdrill S.A.C. – Peru
4. Explomin del Peru S.A.C. – Peru
5. MD Perforaciones – Chile
Middle East & Africa
1. Geodrill Ltd. – Ghana
2. Capital Drilling Ltd. – Mauritius/Operating in Africa
3. Rosond (Pty) Ltd. – South Africa
4. Master Drilling Group Ltd. – South Africa
5. Buenti Drilling – Namibia

Frequently Asked Questions:

1. Which region has the largest share in Global Market?
Ans: North America region held the highest share in 2024.

2. What is the growth rate of Global Market?
Ans: The Global Market is growing at a CAGR of 5.2% during the forecasting period 2025-2032.

3. What is the scope of the Global Market report?
Ans: Global Market report helps with the PESTEL, PORTER, COVID-19 Impact analysis, Recommendations for Investors & Leaders, and market estimation of the forecast period.

4. Who are the key players in Global Market?
Ans: The important key players in the Global Market are – Sandvik AB, SINOCOREDRILL GROUP, Epiroc AB, Atlas Copco, Boart Longyear, Indium Corporation, FORDIA, Geomachine Oy, Wuxi Geological Drilling Equipment Co., Ltd, VersaDrill, Zinex Mining Corp, and Perenti Global Limited

5. What is the study period of Market?
Ans: The Global Market is studied from 2024 to 2032.