IMARC Group, a leading market research company, has recently releases report titled, “Auger Drilling Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028“, The study provides a detailed analysis of the industry, including the global auger drilling market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market. Report Highlights:
How big is the auger drilling market?
The global auger drilling market size reached US$ 2 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 2.85 Billion by 2028, exhibiting a growth rate (CAGR) of 6.40% during 2023-2028.What is auger drilling?
Auger drilling is a well-established drilling technique widely used in the geotechnical and environmental industry, as well as for mineral exploration. It is essentially a drilling method that involves the use of a helical screw that is driven into the ground with rotation. The rotation of the screw causes the material to move up the drill pipe and make room for the drill to delve deeper into the earth. It is designed to effectively handle a variety of soil conditions, ranging from loose, sandy soil to dense clay. In addition to its efficiency in diverse soil conditions, auger drilling is known for its ability to produce minimal waste, making it a more environmentally friendly option compared to other drilling methods. It also offers the advantage of speed, as the drilling and sampling process happens concurrently, saving a significant amount of time. As a result, auger drilling is widely adopted in construction projects, mining operations, environmental studies, and soil sampling endeavors. Get a PDF Sample for more detailed market insights: https://www.imarcgroup.com/auger-drilling-market/requestsampleWhat are the growth prospects and trends in the auger drilling industry?
The global auger drilling market is primarily driven by the escalating demand for efficient drilling methods in construction and mining operations as businesses seek to streamline their processes and reduce costs. Owing to its efficiency and ability to quickly produce results, auger drilling has emerged as an attractive option for several industries. Moreover, there is a surge in emphasis on environmental sustainability and waste reduction in all aspects of business. The ecological benefits of auger drilling, including its ability to produce minimal waste, are bolstering its appeal, thereby contributing to market growth. Additionally, continuous advancements in drilling technology are fueling market growth. Due to the development of more sophisticated, automated, and precise auger drilling equipment, businesses can achieve even greater efficiency and accuracy in their drilling operations. In line with this, the emerging trend toward the adoption of bio-based lubricants in auger drilling to minimize environmental impact is propelling the market growth. Besides this, governments of various nations worldwide are enforcing stringent safety regulations related to drilling activities. These policies require companies to use safer and more environmentally friendly drilling methods, thus catalyzing the demand for auger drilling. Furthermore, the increasing applications of auger drilling in the agricultural sector for numerous purposes, such as irrigation, installing fence posts, and constructing farm buildings, are favoring market growth. Other factors, including the rising need for more efficient farming methods, increasing energy exploration activities, especially in the oil and gas sector, heavy investments in infrastructure development projects, and extensive research and development (R&D) activities, are also expected to stimulate market growth.What is included in market segmentation?
The report has segmented the market into the following categories: Breakup by Type:- Handheld
- Machine
- Continuous Flight Augers
- Bucket Augers
- Single Start
- Double Start
- Construction
- Mining
- Agriculture
- Industrial
- North America
- Asia-Pacific
- Europe
- Latin America
- Middle East and Africa
Who are the key players operating in the industry?
The report covers the major market players including:- Champion Equipment Company
- EMDE Bohrtechnik Nentershausen GmbH
- Liebherr
- Little Beaver Inc.
- Sysbohr GmbH