Rotary Drilling Rig Market Report 2026

The rotary drilling rig market size has grown steadily in recent years. It will grow from $3.68 billion in 2025 to $3.8 billion in 2026 at a compound annual growth rate (CAGR) of 3.3%. The growth in the historic period can be attributed to expansion of oil and gas drilling, mining exploration growth, infrastructure construction demand, availability of rotary drilling technology, industrial resource extraction.

The rotary drilling rig market size is expected to see steady growth in the next few years. It will grow to $4.33 billion in 2030 at a compound annual growth rate (CAGR) of 3.3%. The growth in the forecast period can be attributed to investments in drilling automation, growth in mining activities, demand for faster drilling cycles, expansion of unconventional resource drilling, focus on equipment durability. Major trends in the forecast period include rising demand for high torque drilling rigs, increasing adoption of hydraulic rotary rigs, growth in onshore drilling activities, expansion of heavy duty rig deployments, focus on drilling efficiency and precision.

The rotary drilling rig market is poised for growth due to the increasing global energy demand. Energy is essential for powering various industrial activities, and the demand is rising due to factors such as the growth of energy-intensive sectors such as mining, agriculture, and heavy manufacturing, as well as a global shift toward electrification. Rotary drilling rigs play a crucial role in the energy sector by exploring and extracting oil and natural gas from underground reservoirs. These rigs penetrate deep into the Earth's subsurface to access hydrocarbon reservoirs, which are vital for meeting the energy needs of modern society. For example, the Energy Information Administration projected a 5% to 32% increase in energy usage in the US industrial sector between 2022 and 2050, highlighting the growing demand driving the rotary drilling rig market.

Key players in the rotary drilling rig market are introducing innovative products such as the Sandvik RR340 single seal roller bearing rotary drill to enhance their competitiveness. The Sandvik RR340 drill is a specialized tool designed for rotary drilling operations, featuring a single seal design, typically a roller-bearing seal, to maintain lubrication and prevent debris ingress. This design improves drilling efficiency and longevity by minimizing friction and heat generation, resulting in longer service life and enhanced reliability compared to standard air-bearing bits. Sandvik AB launched the Sandvik RR340 drill in April 2023, offering customers a 45% longer service life with optional PowerCarbide inserts, leading to reduced total drilling costs. The RR340 drill ensures increased dependability and longer bearing hours through its low-friction bearing and abrasion-resistant radial seal, reducing wear and heat during drilling operations. Sandvik's rotary bit lineup is complemented by the RR340, providing superior performance and efficiency across various drilling applications, available in diameters ranging from 6¾ to 12¼.

In October 2023, Consolidated Equipment Group LLC acquired PRO-DIG LLC, expanding its portfolio to include foundation drilling equipment and tooling. This acquisition strengthens Consolidated Equipment Group's position as a provider of high-quality attachments and implements across multiple industries, as PRO-DIG LLC specializes in manufacturing drilling and piling equipment, including rotary drill rigs.

Major companies operating in the rotary drilling rig market are Caterpillar Inc., Komatsu Ltd, Liebherr Group, Atlas Copco, SANY Group Co. Ltd, Sandvik AB, Hitachi Construction Machinery Co. Ltd., Zoomlion Heavy Industry Science & Technology Co. Ltd, Doosan Bobcat, Bauer AG, Vermeer Manufacturing, The Charles Machine Works, TESMEC S.p.A., RIVARD SAS, Schramm Inc., MARAIS SA, STREICHER Drilling Technology GmbH, Simex Srl, Dando Drilling International Ltd., Auger Torque Europe, Inter-Drain Sales BV, Beijing Sinovo International, ATTEC International, Mastenbroek Limited, Tecnologia Dinamica en Implementos.

North America was the largest region in the rotary drilling rig market in 2025. Middle-East and Africa is expected to be the fastest-growing region in the forecast period. The regions covered in the rotary drilling rig market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the rotary drilling rig market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The rotary drilling rig market consists of sales of drill bits, drill pipe, mud systems, hosting equipment, blowout preventers and down hole tools. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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