Overview

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

IBISWorld’s Oil and Mineral Exploration Drilling market research report provides the latest industry statistics and industry trends, allowing you to identify the products and customers driving revenue growth and profitability. The industry report identifies the leading companies and offers strategic industry analysis of the key factors influencing the market.

REPORT SNAPSHOT

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?

The industry displays a low market share concentration. In 2016-17, industry's four largest players are expected to account for less than 30% of total revenue. Boart Longyear, the industry's largest major player, is expected to have a market share of under 15% in 2016. Other industry players tend to be small-scale specialist drilling companies that provide contracted exploratory drilling services to junior miners and greenfield exploration companies.

Over the past five years, the industry's market share concentration has increased as larger exploration companies have gained market share at the expense of smaller firms. As demand has declined and revenue has fallen, larger players have reduced prices in an effort to increase demand and to ensure optimal equipment usage. How...

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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
AMS
Ausdrill
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 Performance

Executive Summary
Key External Drivers
Current Performance
Industry Outlook
Industry Life Cycle

Products & Markets

Supply Chain
Products & Services
Major Markets

Globalisation & Trade

Business Locations
Competitive Landscape
Market Share Concentration
Key Success Factors
Cost Structure Benchmarks
Barriers to Entry

Major Companies

Operating Conditions

Capital Intensity

Key Statistics

Industry Data
Annual Change
Key Ratios

Jargon & Glossary

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