Trencher Market balenced to Reach Insignificant CAGR till 2026
Trenchers or ditchers are also known as excavators, as they penetrate the earth, break soil and rocks, and remove debris from the ground. Trenchers are a vital construction equipment that assist in digging trenches, laying pipes or electrical cables, installing drainage systems or preparing trenches for warfare. Trenchers may range in sizes and use various digging equipment, depending on the required depth and width of the trench and the hardness of the surface to be cut. Wheel trenchers, chain trenchers, micro trencher, portable trencher, and tractor mounted trencher are some of the types of trenchers. Wheel trenchers are cheaper than chain trenchers. The attached drives help to maintain speed at optimum levels and facilitate work at faster rate.
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Availability of Wide Variety and Rising Applications of Trencher is Expected to Drive Growth of the Trencher Market
Trenchers have a wide variety of application, which is a major factor that contributes to growth of the global trencher market. For instance, trenchers can assist in irrigation, drainage, plumbing, and other such activities. Selecting the right type of trencher for the aforementioned applications makes these tasks simple, easy, and faster. Trenchers have evolved to meet versatile requirements with novel features and types.
Growing environmental concerns such as ground level alteration due to digging and other activities is expected to major factor driving growth of the trenchers market. Furthermore, trenchers with rubber tracks offer perfect traction in soft, rocky or muddy condition with minimal topographic alteration. Trenchers also minimize turf damage and improve the stability of self-leveling tracks that distribute weight evenly.
Decline in Growth of the Mining Industry is Hindering Growth of the Global Trenchers Market
One of the major factors that restrains growth of the global trencher market is the downfall of the mining industries as trenchers are employed mostly in mining industries. Mining industries have to face different challenges and environmental risks throughout the mining cycle including groundwork, handling hazardous substances, and waste disposal, which are required to be addressed in order to find an amicable solution. The risks faced by the employees in the mining industry such as mining accidents occur during the process of mining minerals. Around thousands of miners die due to mining accidents each year, especially from underground coal mining. Moreover, leakage of poisonous gases such as hydrogen sulfide or explosive natural gases due to improper procedures followed while digging mines also leads to mining accidents. According to the data released by US Department of Labor in January 2018, mining deaths in the US alone totaled 28 during 2017. Furthermore, a report released by the Center for Disease Control & Prevention (released in 2016), mining related injuries to employees across the world was 4,517 in 2015.
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Regional Analysis of the Global Trencher Market
On the basis of region, the global trencher market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa.
North America is expected to be the largest market in the trenchers market over the forecast period. The U.S. has been producing oil since 1850’s and gas since 1820’s, respectively. According to Coherent Market Insights, in 2017, the U.S. produced 567.2 million metric tons of oil and 767.3 billion cubic meters of natural gas. As of 2017, it had the world’s ninth-largest oil reserves and fifth largest natural gas reserves. Moreover, the U.S. is the world’s largest oil consuming nation and natural gas consuming nation, consuming around 851.6 million metric tons of oil in 2017 and 27.5 trillion cubic feet of natural gas in 2017. Such increasing consumption and production of natural gas and oil in the U.S., leads to high demand for trenchers, which in turn propels growth of the market.
Key players in the Global Trencher Market
Key players operating in the global trenchers market include, Aardvark Equipment Ltd., Astec Industries, Inc., Bobcat Company, Ditch Witch, Vermeer Corporation, Wolfe Equipment, EZ-Trench, LLC, The Toro Company, Mastenbroek Limited, and Guntert & Zimmerman Const. Div., Inc.
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