February 09, 2021
As cited by the business intelligence report titled ‘Global Trenchers Market Size study, by Type (Wheel Trencher, Chain Trencher, Micro Trencher, Portable Trencher, Tractor Mount Trencher) by Application (Mining, Construction, Agriculture, Defense, Sub Sea) and Regional Forecasts 2020-2027’, available with Market Study Report LLC, global trenchers market is estimated to amass lucrative gains during 2020-2027.
Industry analysts claim that rapid development of water infrastructure, increasing agricultural practices, and ongoing technological advancements in the business sphere are positively swaying the global trenchers market dynamics.
For the record, trenchers are construction equipment utilized to mechanize activities such as drainage installation, digging, and laying pipes and cables.
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The report states that availability of a wide product range in terms of application and size, extensive digitization, and flourishing construction vertical in developed as well as emerging countries are propelling the expansion of the global trenchers market sphere. Citing an instance, according to a report published by Oxford University, the worldwide construction market is set to account for USD 8 trillion by the year 2030, reflecting a 85% upsurge in the volume of construction output.
On the contrary, high costs associated with the equipment as well as its maintenance is a major restraining factor for the business development.
Speaking of product type, the overall industry is bifurcated into tractor mount trencher, portable trencher, micro trencher, chain trencher, and wheel trencher. The application spectrum of the vertical is fragmented into subsea, defense, agriculture, construction, and mining among others.
Regionally, North America accounts for a majority of worldwide trenchers industry share, owing to early adoption of advanced technology, rapid infrastructural development, and increasing construction activities.
On the other hand, Asia-Pacific market is anticipated to expand with the highest compound annual growth rate during 2020-2027, on account of rising investments in the construction sector and increasing agricultural modernization.
Well-established organizations which influence the global trenchers industry trends include Guntert & Zimmerman Const. Div. Inc., Simex S.r.l., Caterpillar Inc., Nextrencher, Tesmec S.p.A., Vermeer Corporation, Cardley-Bingham, Cleveland Trencher Company Inc., Groupe Marais, Trencor Ltd., and Deere & Company.