A recent report published by Infinium Global Research on auger drilling market provides in-depth analysis of segments and sub-segments in the global as well as regional auger drilling market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional auger drilling market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global auger drilling market. According to the report, the global auger drilling market is projected to grow at a CAGR of 6.81% over the forecast period of 2019-2025.
To perform activities such as construction, mining, and oil extraction, the drilling process is necessary. Auger drilling is one of the novel drilling techniques where it drills the earth according to the requirement. The auger drilling is the most cost-effective drilling technique and as the technology advances the auger drilling is becoming more effective and efficient. In 2018, Terex Corporation debuted a redesigned 650-30 auger drill that features an enhanced control system and a hydrostatic drive transmission for easier operation and productivity.
The construction and mining industry are growing rapidly, which is the major driving factor for the auger drilling market. The demand for better infrastructure is increasing as the industrialization and urbanization in the emerging economies is growing. Moreover, the governments in the emerging nations including China, India, and Korea are spending more on infrastructure development in order to boost the economy of the nations. This, in turn, augments the growth of the auger drilling market. The government also improving the existing infrastructure and roadways. Furthermore, the auger drilling has several advantages such as the lower operating cost and lower maintenance cost as compared to conventional mechanical drilling, which increases the demand for auger drilling. However, the disadvantages of the auger drilling such as a long time for drilling and required to handle heavy equipment are the major restraining factor for the growth of the auger drilling market. Nevertheless, the growing demand for metals and minerals derived from the earth’s crust is anticipated to increase the demand for auger drilling in the future.
In terms of region, Asia-Pacific held the highest market share, dominating the global auger drilling market. The dominance of the Asia-Pacific market attributed to the increase in the construction activities in countries such as China, India, and Korea. The government in these countries are spending a lot on infrastructure development to boost the economy. Moreover, the increasing mining activities in Asia-Pacific is anticipated to boost the auger drilling market in this region.
The report on global auger drilling market covers segments such as type, structure, and end user. On the basis of type, the sub-markets include handheld, and machine. On the basis of structure, the sub-markets include bucket augers, and continuous flight augers. On the basis of end user, the sub-markets include construction, mining, and other end users.
The report provides profiles of the companies in the market such as Liebherr Group, Terex Corporation, American Drilling Corp, LLC, Beijing Cortech Drilling Equipment Co. Ltd., Marl Technologies Inc., Agromaster Agricultural Machinery, Little Beaver Inc., Premier Augers, Total Drilling Supply LLC, Jewett Construction Company, and Other Companies.
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of auger drilling market. Moreover, the study highlights current market trends and provides forecast from 2019-2025. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.
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