Not a drill: Decreased investment in the Mining division has caused industry exits

IBISWorld’s Oil and Mineral Exploration Drilling market research report offers insightful industry analysis and research into the market at the national level. IBISWorld’s in-depth industry market research is presented in a logical and consistent format. The industry report contains key industry statistics, market size, industry trends, and growth and profit forecasts for a 5-year outlook period.


Industry Analysis & Industry Trends

Over the past five years, the Oil and Mineral Exploration Drilling industry has had an extremely volatile performance. Industry players provide services to mining companies that are engaged in greenfield oil and mineral exploration. This is the riskiest area of the Mining division as companies look for new economically viable resource deposits. Expenditure on greenfield exploration fluctuates significantly year on year, in line with small miners' ability to access capital. When commodity prices fall or sentiment in the Mining division declines, demand for greenfield exploration services such as specialist drilling activities tends to decline.

Over the past 10 years, industry operators have benefited from a prolonged boom in capital expenditure in the Mining division...

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What is the Oil and Mineral Exploration Drilling industry?

Medium barriers to entry characterise the industry and this trend has remained stable over the past five years. Industry players face a high level of regulation, have extensive capital requirements and require highly skilled employees. Regulations include requirements for environmental sustainability, land usage rights, licensing requirements, and worker health and safety commitments. These barriers are offset slightly by the ability for small firms to operate successfully and minimise their management and operational costs. Many businesses in the industry are sole operators or employ a small number of workers, which reduces their management and training requirements...

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Additional Insights for the Oil and Mineral Exploration Drilling Industry

IBISWorld identifies 250 Key Success Factors for a business.The most important for the Oil and Mineral Exploration Drilling Industry are

  • Ability to effectively manage risk
  • Economies of scale
  • Economies of scope
  • IBISWorld analysts also discuss how external factors such as Actual capital expenditure on mining and Demand from exploration in the Oil and Mineral Exploration Drilling industry impact industry performance..

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    New Zealand Special Report

    Products & Brands

    Major products in this industry
    Reverse-circulation drilling
    Air-core drilling
    Diamond drilling
    Hydraulic-rotary drilling
    Other exploration drilling
    Rotary air-blast drilling
    Examples of brands in this Industry
    Ausdrill Northeast
    Connector Drilling
    Energy Drilling Australia
    Boart Longyear

    Table of Contents

    About this Industry
    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry at a Glance
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    Industry Performance
    Executive Summary
    Key External Drivers
  • Actual capital expenditure on mining
  • Demand from exploration
  • World price of crude oil
  • US dollars per Australian dollar
  • Base metals price index

  • Current Performance
  • Demand and revenue
  • Mine development
  • Greenfields in decline
  • Industry dynamics
  • Chart: Revenue Growth

  • Industry Outlook
  • Table: Oil and Mineral Exploration Drilling Industry Revenue Outlook

  • Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Oil and Mineral Exploration Drilling Industry Lifecycle vs The Economy

  • Products & Markets
    Supply Chains
    Key Buying Industries
  • Oil and Gas Extraction
  • Iron Ore Mining
  • Bauxite Mining
  • Copper Ore Mining
  • Gold Ore Mining
  • Mineral Exploration
  • Contract Mining Services

  • Key Selling Industries
  • Engineering Consulting
  • Mining and Industrial Machinery Wholesaling

  • Products & Services
  • Diamond drilling
  • Rotary air-blast drilling
  • Reverse-circulation drilling
  • Hydraulic-rotary drilling
  • Air-core drilling
  • Other exploration drilling
  • Chart: Oil and Mineral Exploration Drilling Industry Products and Services Segmentation

  • Demand Determinants
    Major Markets
  • Offshore oil and gas exploration companies
  • Onshore oil and gas exploration companies
  • Metal ore mining companies
  • Chart: Major Market Segmentation for the Oil and Mineral Exploration Drilling Industry

  • International Trade
    Business Locations
    Chart: Business Locations by State
    Competitive Landscape
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
  • Chart: Cost Structure Benchmarking – Sector vs Oil and Mineral Exploration Drilling

  • Basis of Competition
  • Internal competition
  • External competition

  • Barriers to Entry
  • Table: Barrier to Entry Checklist for the Oil and Mineral Exploration Drilling Industry

  • Industry Globalization
    Major Companies
    Boart Longyear LimitedAusdrill Limited
  • Table: Boart Longyear Limited - financial performance
  • Table: Ausdrill Limited - financial performance

  • Operating Conditions
    Capital Intensity
  • Chart: Level of Capital Intensity for the Oil and Mineral Exploration Drilling Industry
  • Chart: Tools of the Trade: Growth Strategies for Success

  • Technology & Systems
    Revenue Volatility
  • Chart: Volatility vs Industry Growth

  • Regulation & Policy
    Industry Assistance
    Key Statistics
    Table: Industry Data for the Oil and Mineral Exploration Drilling Industry
  • Industry Revenue (2008-2022)
  • Industry Gross Product (2008-2022)
  • Establishments (2008-2022)
  • Businesses (2008-2022)
  • Employment (2008-2022)
  • Wages (2008-2022)

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
    Jargon & Glossary
  • Established mining projects that produce output.
  • Drill Bit
  • An attachment tool for the drill that is used to excavate the rock in oil, gas and mineral drilling applications.
  • Greenfield
  • Newly established mining projects that require exploratory drilling services.
  • Measurement While Drilling
  • A drilling tool technology that transmits information from down-hole measuring devices to the surface while drilling is occurring.
  • Why buy this report?

    IBISWorld industry market research reports enable you to:
    • Find out about key industry trends
    • Identify threats and opportunities
    • Inform your decisions for marketing, strategy and planning
    • Quickly build competitive intelligence
    This report on Oil and Mineral Exploration Drilling:
    • Provides Market Size information to assist with planning and strategic decisions.
    • Includes the necessary information to perform SWOT, PEST and STEER analysis.
    • Helps you understand market dynamics to give you a deeper understanding of industry competition and the supply chain.
    • Analyses key performance and operational metrics so that you can benchmark against your own business, that of your customers’ businesses, or your competitors’ businesses.
    The Oil and Mineral Exploration Drilling market research report includes:
    • Historical data and analysis for the key drivers of this industry
    • A five-year forecast of the market and noted trends
    • Detailed research and segmentation for the main products and markets
    • An assessment of the competitive landscape and market shares for major companies
    • And of course, much more

    IBISWorld reports on thousands of industries around the world. Our clients rely on our information and data to stay up-to-date on industry trends across all industries. With this IBISWorld Industry Research Report on Oil and Mineral Exploration Drilling, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

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