Global Mining Drill Bit Market to Reach $2.25 Billion by 2029

According to an industry report in December 2025, the global mining drill bit market size was 1.62 billion USD in 2024, and is expected to grow to 2.25 billion USD by 2029 (CAGR 7.3%). The driving factors include rare earth exploration, infrastructure demand and the application of sustainable mining technology.