A recent
report published by Infinium Global Research on auger drilling market provides an 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 the 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.
Market
Insight
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.
Segment
Covered
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.
Companies
Profiled:
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.
Report
Highlights:
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.