The trenchers market size has grown strongly in recent years. It will grow from $1.88 billion in 2023 to $2.03 billion in 2024 at a compound annual growth rate (CAGR) of 8.3%. The growth observed in the historical period can be attributed to the expansion of the construction industry, development of infrastructure, trends in urbanization, applications in agriculture, and the demand for utility installations.
The trenchers market size is expected to see strong growth in the next few years. It will grow to $2.68 billion in 2028 at a compound annual growth rate (CAGR) of 7.2%. The anticipated growth in the forecast period can be attributed to the implementation of renewable energy projects, initiatives focused on smart cities, the adoption of precision agriculture practices, expansion of telecommunication networks, and the implementation of waste management projects. Key trends expected in the forecast period include the widespread adoption of telematics and GPS technology, the integration of advanced safety features, the development of compact and maneuverable trencher models, the adoption of trencher telemetry systems, and the integration of automated trenching technologies.
The anticipated growth in the construction industry is expected to drive the expansion of the trenchers market in the coming years. The construction industry, encompassing the planning, design, and execution of building projects, including residential, commercial, and infrastructure development, relies on trenchers to dig trenches for utilities such as water, gas, and electrical lines. These machines significantly accelerate excavation processes, ensuring precise trench dimensions and enhancing overall project efficiency and safety. For instance, in August 2023, the U.S. Department of Housing and Urban Development reported that building permits authorized 1,442,000 privately owned housing units in July, slightly increasing by 0.1% from June's revised rate. Additionally, housing construction started at a rate of 1,452,000 in July, marking a 3.9% increase from June's revised estimate and a 5.9% rise from July 2022's rate. The global construction output, as reported by Oxford Economics in September 2021, was $10.7 trillion in 2020 and is anticipated to increase by 42%, reaching $15.2 trillion between 2020 and 2030. Consequently, the growing construction industry is propelling the trenchers market.
The expanding oil and gas industry is set to contribute to the growth of the trenchers market. Covering the exploration, extraction, refining, and distribution of petroleum and natural gas resources, the oil and gas sector relies on trenchers to efficiently excavate trenches for laying pipelines. For example, in September 2023, UK's HM Revenue and Customs reported a substantial increase in the total government revenues from oil and gas production in the tax year 2021-2022, reaching $1.79 billion (£1.4 billion) compared to $0.38 billion (£0.3 billion) in the previous year. Therefore, the growing oil and gas industry is expected to fuel the trenchers market.
The high initial cost remains a challenge for the trenchers market during the forecast period. The significant upfront investment required for purchasing or leasing trenchers can pose a barrier to entry for smaller contractors, construction companies, and agricultural businesses. Limited financial resources may hinder these entities from investing in trenching equipment. For example, according to Angi Inc. in February 2022, trenching costs are expensive, with prices ranging from $400 to $1,200 for every 100 linear feet. As a result, the high initial cost is impeding the growth of the trenchers market.
Leading companies in the trenchers market are actively developing compact utility trenchers to drive revenue. These small, versatile digging machines create narrow, shallow trenches, primarily for cables and pipes. In August 2023, Mastenbroek Limited launched the Bulldog, its first utility trencher designed for the North American market. The Bulldog trencher's innovative features, such as a conveyor that swings forward for spoil deposition, make it suitable for limited space situations, particularly in urban areas. The trencher is equipped with an 8-liter Tier 4 Final Volvo engine and a diesel hydrostatic drive system, allowing it to excavate trenches up to six feet deep, meeting the standard requirements for utility cable and pipeline installation in the U.S.
In August 2021, Hyundai Motor Group acquired a 35% stake in Doosan Infracore Co. Ltd., a South Korea-based trencher manufacturer, for an undisclosed amount. This strategic acquisition allowed Hyundai to expand its construction equipment business and enhance its brand recognition, particularly in North America.
Major companies operating in the trenchers market report are Hyundai Group, Caterpillar Inc., Deere & Company, The Toro Company, Jan De Nul Group, IHC Merwede Holding B.V., Vermeer Corporation, Forum Energy Technologies Inc., Deepocean AS, Tesmec S.p.A., Digga Australia, Osbit Ltd., Soil Machine Dynamics Ltd., Groupe Marais, Barreto Manufacturing Inc., Port Industries Inc., Wolfe Heavy Equipment Inc., Guntert & Zimmerman Const. Div. Inc., Seatools B.V., KEMROC Spezialmaschinen GmbH, Cleveland Trencher Company Inc., EZ-Trench LLC, Mastenbroek Limited, UNAC SAS, Nextrencher Inc., Barth Hollanddrain B.V., Trencor Limited.
North America was the largest region in the trenchers market in 2023. The regions covered in the trenchers market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the trenchers market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
A trencher is a specialized, self-propelled construction machine utilized for excavating trenches in the ground. Typically, it features a rotating chain or blade with teeth that cuts into the earth, creating a narrow, linear excavation. Additionally, it employs a bucket conveyor and is commonly employed for the installation of pipes, cables, or drainage systems.
The primary types of trenchers include wheel trenchers, chain trenchers, micro trenchers, and others. A wheel trencher is a robust construction machine equipped with a rotating wheel featuring cutting teeth, designed for excavating trenches for various purposes. These wheel trenchers have different operating types, such as ride-on and walk-behind, suitable for diverse applications, including agricultural trenching, installation of oil and gas pipelines, laying energy cables and fiber optics, constructing telecommunication networks, and installing sewer and water pipelines, among others.
The trenchers market research report is one of a series of new reports that provides trenchers market statistics, including trenchers industry global market size, regional shares, competitors with a trenchers market share, detailed trenchers market segments, market trends and opportunities, and any further data you may need to thrive in the trenchers industry. This trenchers market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The trencher market consists of sales of compact trenchers, walk-behind trenchers, ride-on trenchers, cable plows, and attachment trenchers. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
This product will be delivered within 3-5 business days.
The trenchers market size is expected to see strong growth in the next few years. It will grow to $2.68 billion in 2028 at a compound annual growth rate (CAGR) of 7.2%. The anticipated growth in the forecast period can be attributed to the implementation of renewable energy projects, initiatives focused on smart cities, the adoption of precision agriculture practices, expansion of telecommunication networks, and the implementation of waste management projects. Key trends expected in the forecast period include the widespread adoption of telematics and GPS technology, the integration of advanced safety features, the development of compact and maneuverable trencher models, the adoption of trencher telemetry systems, and the integration of automated trenching technologies.
The anticipated growth in the construction industry is expected to drive the expansion of the trenchers market in the coming years. The construction industry, encompassing the planning, design, and execution of building projects, including residential, commercial, and infrastructure development, relies on trenchers to dig trenches for utilities such as water, gas, and electrical lines. These machines significantly accelerate excavation processes, ensuring precise trench dimensions and enhancing overall project efficiency and safety. For instance, in August 2023, the U.S. Department of Housing and Urban Development reported that building permits authorized 1,442,000 privately owned housing units in July, slightly increasing by 0.1% from June's revised rate. Additionally, housing construction started at a rate of 1,452,000 in July, marking a 3.9% increase from June's revised estimate and a 5.9% rise from July 2022's rate. The global construction output, as reported by Oxford Economics in September 2021, was $10.7 trillion in 2020 and is anticipated to increase by 42%, reaching $15.2 trillion between 2020 and 2030. Consequently, the growing construction industry is propelling the trenchers market.
The expanding oil and gas industry is set to contribute to the growth of the trenchers market. Covering the exploration, extraction, refining, and distribution of petroleum and natural gas resources, the oil and gas sector relies on trenchers to efficiently excavate trenches for laying pipelines. For example, in September 2023, UK's HM Revenue and Customs reported a substantial increase in the total government revenues from oil and gas production in the tax year 2021-2022, reaching $1.79 billion (£1.4 billion) compared to $0.38 billion (£0.3 billion) in the previous year. Therefore, the growing oil and gas industry is expected to fuel the trenchers market.
The high initial cost remains a challenge for the trenchers market during the forecast period. The significant upfront investment required for purchasing or leasing trenchers can pose a barrier to entry for smaller contractors, construction companies, and agricultural businesses. Limited financial resources may hinder these entities from investing in trenching equipment. For example, according to Angi Inc. in February 2022, trenching costs are expensive, with prices ranging from $400 to $1,200 for every 100 linear feet. As a result, the high initial cost is impeding the growth of the trenchers market.
Leading companies in the trenchers market are actively developing compact utility trenchers to drive revenue. These small, versatile digging machines create narrow, shallow trenches, primarily for cables and pipes. In August 2023, Mastenbroek Limited launched the Bulldog, its first utility trencher designed for the North American market. The Bulldog trencher's innovative features, such as a conveyor that swings forward for spoil deposition, make it suitable for limited space situations, particularly in urban areas. The trencher is equipped with an 8-liter Tier 4 Final Volvo engine and a diesel hydrostatic drive system, allowing it to excavate trenches up to six feet deep, meeting the standard requirements for utility cable and pipeline installation in the U.S.
In August 2021, Hyundai Motor Group acquired a 35% stake in Doosan Infracore Co. Ltd., a South Korea-based trencher manufacturer, for an undisclosed amount. This strategic acquisition allowed Hyundai to expand its construction equipment business and enhance its brand recognition, particularly in North America.
Major companies operating in the trenchers market report are Hyundai Group, Caterpillar Inc., Deere & Company, The Toro Company, Jan De Nul Group, IHC Merwede Holding B.V., Vermeer Corporation, Forum Energy Technologies Inc., Deepocean AS, Tesmec S.p.A., Digga Australia, Osbit Ltd., Soil Machine Dynamics Ltd., Groupe Marais, Barreto Manufacturing Inc., Port Industries Inc., Wolfe Heavy Equipment Inc., Guntert & Zimmerman Const. Div. Inc., Seatools B.V., KEMROC Spezialmaschinen GmbH, Cleveland Trencher Company Inc., EZ-Trench LLC, Mastenbroek Limited, UNAC SAS, Nextrencher Inc., Barth Hollanddrain B.V., Trencor Limited.
North America was the largest region in the trenchers market in 2023. The regions covered in the trenchers market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the trenchers market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
A trencher is a specialized, self-propelled construction machine utilized for excavating trenches in the ground. Typically, it features a rotating chain or blade with teeth that cuts into the earth, creating a narrow, linear excavation. Additionally, it employs a bucket conveyor and is commonly employed for the installation of pipes, cables, or drainage systems.
The primary types of trenchers include wheel trenchers, chain trenchers, micro trenchers, and others. A wheel trencher is a robust construction machine equipped with a rotating wheel featuring cutting teeth, designed for excavating trenches for various purposes. These wheel trenchers have different operating types, such as ride-on and walk-behind, suitable for diverse applications, including agricultural trenching, installation of oil and gas pipelines, laying energy cables and fiber optics, constructing telecommunication networks, and installing sewer and water pipelines, among others.
The trenchers market research report is one of a series of new reports that provides trenchers market statistics, including trenchers industry global market size, regional shares, competitors with a trenchers market share, detailed trenchers market segments, market trends and opportunities, and any further data you may need to thrive in the trenchers industry. This trenchers market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The trencher market consists of sales of compact trenchers, walk-behind trenchers, ride-on trenchers, cable plows, and attachment trenchers. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
This product will be delivered within 3-5 business days.
Table of Contents
1. Executive Summary2. Trenchers Market Characteristics3. Trenchers Market Trends and Strategies32. Global Trenchers Market Competitive Benchmarking33. Global Trenchers Market Competitive Dashboard34. Key Mergers and Acquisitions in the Trenchers Market
4. Trenchers Market - Macro Economic Scenario
5. Global Trenchers Market Size and Growth
6. Trenchers Market Segmentation
7. Trenchers Market Regional and Country Analysis
8. Asia-Pacific Trenchers Market
9. China Trenchers Market
10. India Trenchers Market
11. Japan Trenchers Market
12. Australia Trenchers Market
13. Indonesia Trenchers Market
14. South Korea Trenchers Market
15. Western Europe Trenchers Market
16. UK Trenchers Market
17. Germany Trenchers Market
18. France Trenchers Market
19. Italy Trenchers Market
20. Spain Trenchers Market
21. Eastern Europe Trenchers Market
22. Russia Trenchers Market
23. North America Trenchers Market
24. USA Trenchers Market
25. Canada Trenchers Market
26. South America Trenchers Market
27. Brazil Trenchers Market
28. Middle East Trenchers Market
29. Africa Trenchers Market
30. Trenchers Market Competitive Landscape and Company Profiles
31. Trenchers Market Other Major and Innovative Companies
35. Trenchers Market Future Outlook and Potential Analysis
36. Appendix
Executive Summary
Trenchers Global Market Report 2024 provides strategists, marketers and senior management with the critical information they need to assess the market.This report focuses on trenchers market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Reasons to Purchase
- Gain a truly global perspective with the most comprehensive report available on this market covering 50+ geographies.
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- Assess the Russia - Ukraine war’s impact on agriculture, energy and mineral commodity supply and its direct and indirect impact on the market.
- Measure the impact of high global inflation on market growth.
- Create regional and country strategies on the basis of local data and analysis.
- Identify growth segments for investment.
- Outperform competitors using forecast data and the drivers and trends shaping the market.
- Understand customers based on the latest market shares.
- Benchmark performance against key competitors.
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- Report will be updated with the latest data and delivered to you along with an Excel data sheet for easy data extraction and analysis.
- All data from the report will also be delivered in an excel dashboard format.
Description:
Where is the largest and fastest growing market for trenchers ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The trenchers market global report answers all these questions and many more.The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.
- The market characteristics section of the report defines and explains the market.
- The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
- The forecasts are made after considering the major factors currently impacting the market. These include:
- The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
- The impact of higher inflation in many countries and the resulting spike in interest rates.
- The continued but declining impact of COVID-19 on supply chains and consumption patterns.
- Market segmentations break down the market into sub markets.
- The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
- The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
- The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
Scope
Markets Covered:
1) By Product: Wheel Trencher; Chain Trencher; Micro trenchers; Other Products2) By Operating type: Ride-on; Walk-behind
3) By Application: Agricultural Trenching; Oil And Gas Pipeline Installation; Energy Cables And Fiber Optic Laying; Telecommunication Networks Construction; Sewers And Water Pipelines Installation; Other Applications.
Key Companies Mentioned: Hyundai Group; Caterpillar Inc.; Deere & Company; The Toro Company; Jan De Nul Group
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita.
Data Segmentation: Country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Delivery format: PDF, Word and Excel Data Dashboard.
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Hyundai Group
- Caterpillar Inc.
- Deere & Company
- The Toro Company
- Jan De Nul Group
- IHC Merwede Holding B.V.
- Vermeer Corporation
- Forum Energy Technologies Inc.
- Deepocean AS
- Tesmec S.p.A.
- Digga Australia
- Osbit Ltd.
- Soil Machine Dynamics Ltd.
- Groupe Marais
- Barreto Manufacturing Inc.
- Port Industries Inc.
- Wolfe Heavy Equipment Inc.
- Guntert & Zimmerman Const. Div. Inc.
- Seatools B.V.
- KEMROC Spezialmaschinen GmbH
- Cleveland Trencher Company Inc.
- EZ-Trench LLC
- Mastenbroek Limited
- UNAC SAS
- Nextrencher Inc.
- Barth Hollanddrain B.V.
- Trencor Limited
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 175 |
| Published | March 2024 |
| Forecast Period | 2024 - 2028 |
| Estimated Market Value ( USD | $ 2.03 Billion |
| Forecasted Market Value ( USD | $ 2.68 Billion |
| Compound Annual Growth Rate | 7.2% |
| Regions Covered | Global |
