The latest report on “Auger Drilling Market (Type – Handheld, and Machine; Structure – Bucket Augers, and Continuous Flight Augers; End User – Construction, Mining, and Other End Users): Global Industry Analysis, Trends, Size, Share and Forecasts to 2025.” The global auger drilling market is projected to grow at a CAGR of 6.81% over the forecast period of 2019-2025.
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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.
Construction and Mining Industry are Growing Rapidly, Which is the Major Driving Factor for the Auger Drilling Market
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.
Asia-Pacific Held the Highest Market Share, Dominating the Global Auger Drilling Market
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.
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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.
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=> Comprehensive analysis of global as well as regional markets of the auger drilling.
=> Complete coverage of all the product type and applications segments to analyze the trends, developments, and forecast of market size up to 2025.
=> Comprehensive analysis of the companies operating in this market. The company profile includes analysis of product portfolio, revenue, SWOT analysis and the latest developments of the company.
=> Infinium Global Research- Growth Matrix presents an analysis of the product segments and geographies that market players should focus to invest, consolidate, expand and/or diversify.