Key Highlights
Regional Highlights (2025):
Asia Pacific held the dominant market share of 32.43% in 2025
Europe held the second highest share of 21.41% in 2025
North America observed a market share of 24.42% in 2025
Middle East & Africa witness a market share of 12.24% in 2025
South America exhibits a market share of 9.50%
Segments Highlights (2025):
By Type:
Hydraulic Drill Rigs captured the leading share of 64.85% in 2025
Electric Drill Rigs held the highest CAGR of 5.82% (2025 to 2032) drive by by the rising inclination towards eco-friendly products
Automated Drill Rigs accounted for 8.15% share in 2025
The global Underground Drilling Rig market, Underground Drilling Rig industry, is valued at USD 5.02 Bn in 2025, projected to reach USD 7.73 Bn by 2032, expanding at a 5.54% CAGR. The flourishing growth of the oil and gas industry, particularly increased investment in upstream activities and exploration, is expected to drive the global consumption of underground drilling rigs. For instance, the data released by the International Energy Forum shows that in 2023 the global oil and gas industry’s upstream capital expenditure witnessed a rise of USD 63 billion.
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The global Underground Drilling Rig market size, or Underground Drilling Rig industry, is anticipated to witness a continuous rise during the period from 2025 to 2032. Countries around the world increasingly putting more emphasis towards infrastructure projects, including tunnel construction, is expected to have a significant contribution to the demand for underground drilling rigs. As per the data published by the U.S. Department of Transportation, it stated that on 8th July 2024 the U.S. invested USD 11 billion in grants and financing for the country’s most challenging infrastructure project, the Hudson River Tunnel.
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Based on region, Asia Pacific holds the dominant share in the Underground Drilling Rig market. The thriving growth of the mining industry among Asia Pacific countries including China, Australia, Indonesia, and others is leading to fuel the demand for underground drilling rigs. For instance, the data released by SMM New Energy in 2023 declared the annual production of cobalt for various Asia Pacific countries, with China at 1.5 KT, Indonesia 21.6 KT, Australia 7.6 KT, and others.
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On the basis of type, hydraulic drill rigs held the leading share in the Underground Drilling Rig market or global Underground Drilling Rig industry. Hydraulic systems’ cost-effectiveness and lower initial capital expenditure compared to other underground drilling favours its dominance. The versatility of the use of hydraulic drill rigs for use in multiple applications including oil & gas, geotechnical exploration, mining, construction, and others favours the segment dominance. In addition, the electric drill rig is anticipated to observe the fastest growth at a CAGR of 5.82%, driven by its low emissions as well as its advanced automation.
