Core Viewpoint - The rock drilling rig industry has evolved significantly from manual methods to advanced electric and intelligent systems, with a focus on automation, electrification, and environmental sustainability [3][4][10][11]. Industry Background, Development History, Current Status, and Trends Development History - The evolution of rock drilling rigs has transitioned from manual drilling to hydraulic and now to electric and intelligent systems, marking a significant technological advancement [3][4]. Current Industry Status - The global rock drilling rig market is dominated by European and American companies, with Nordic firms like Epiroc and Sandvik leading in high-end markets due to their technological advancements [5][6]. - In China, the rock drilling rig industry has seen rapid growth since the 2000s, with local companies overcoming technological barriers and achieving competitive advantages in pricing and performance [7][8]. Market Dynamics - The global market for rock drilling rigs is projected to grow from $609 million in 2024 to $831 million by 2031, with a compound annual growth rate (CAGR) of 4.60% from 2025 to 2031 [19]. - China is the largest producer and consumer of rock drilling rigs, accounting for nearly 30% of global sales, but faces challenges such as product homogeneity and intense price competition [19][22]. Key Players and Competitive Landscape - Major global manufacturers include Epiroc and Sandvik, with significant market shares in high-end segments, while Chinese companies like China Railway Engineering Equipment and Zhangjiakou Huatai Mining Machinery are gaining traction domestically and internationally [19][25]. Development Trends Automation and Electrification - The industry is moving towards higher automation levels, with features like automatic drilling and remote operation becoming standard [10]. - There is a strong push for electrification and zero emissions in mining equipment, with many countries setting targets for transitioning to electric or hybrid systems [11]. Environmental Considerations - Hydraulic rock drilling rigs are preferred for their lower noise levels and reduced emissions, contributing to better working conditions [11]. Standardization and Customization - Standardized components are widely used, allowing for diverse configurations and rapid product updates, while customized rigs are designed to meet specific project requirements [12]. Market Polarization - The market is witnessing a trend towards both larger and smaller rigs, catering to different project scales and operational needs [13][14].