Trencher Market Growth Accelerated By Rising Construction Activities

 
Trencher Market

Trenchers are heavy machinery equipment used for digging trenches, ditches, and holes in various construction and infrastructure projects. These machinery offer advanced trenching capabilities along with higher efficiency and productivity. Trenchers are primarily used for laying pipes, cables, and wires underground in construction of roads, pipelines, utilities and telecommunications networks. The global Trencher Market is estimated to be valued at US$ 390.2 Mn in 2023 and is expected to exhibit a CAGR of 20.% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Key Trends:
The rising construction activities across both residential and non-residential sectors has been a major factor accelerating the growth of the trencher market. Rapid urbanization and industrialization in emerging nations have increased infrastructure development globally. Additionally, rehabilitation and redevelopment of aging infrastructure in developed countries of North America and Europe is further spurring the demand for trenchers. Advanced trenching equipment and technologies help improve the efficiency of infrastructure projects by minimizing construction time and costs. This has led many contractors and construction companies to increasingly adopt trenchers for their digging requirements.

Segment Analysis
The global trencher market is segmented by application into pipe laying, mining, agricultural trenching, cable trenching, and others. The pipe laying segment dominates the market and accounts for over 30% of the global market share. This is because trenchers are widely used for laying pipes for water supply, sewage lines, gas supply, and telecom network. They offer faster digging and deployment of pipes as compared to traditional methods.

Key Takeaways
The global trencher market analysis is expected to witness high growth during the forecast period of 2023 to 2030. The market size is projected to reach US$ 687 Mn by 2030, expanding at a CAGR of around 20%.

Regional analysis: North America dominates the global trencher market with over 35% share. The region has witnessed significant investment in infrastructure development projects related to expansion of oil and gas pipelines, power grids, and telecommunication networks. This has driven the demand for trenching equipment such as trenchers. Europe is also among the major markets for trenchers due to ongoing construction of roads, rail lines, utilities, and other civil engineering projects.

Key players operating in the trencher market include STMicroelectronics, LG Chem, SAMSUNG SDI CO., LTD., Panasonic Corporation, ROCKET Poland Sp. z o.o., Enfucell, Imprint Energy, Energy Diagnostics., Jenax Inc., and Molex. STMicroelectronics, LG Chem and SAMSUNG SDI are the top players and together account for over 30% share of the global trencher battery market.

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