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Trenchers Market Size
- Report ID: GMI11341
- Published Date: Sep 2024
- Report Format: PDF
Trenchers Market Size
Trenchers Market was valued at USD 816 million in 2023 and expected to grow at over 3% CAGR between 2024 to 2032, owing to the rapid urbanization in developing countries and the rise of smart city projects across the globe. According to Abu Dhabi Investment Office (ADIO), these companies collaborated with local entities to develop resilient cities by upgrading street lighting and increasing the energy efficiency of Al Dannah City buildings. Trenchers are important for installing utilities, including water, electricity, gas, and telecommunications, in these smart city projects. This is expected to drive the growth of the market.
Governments worldwide are investing heavily in infrastructure development, including roads, highways, and public utilities, which require trenching for laying pipelines, cables, and other underground infrastructure. Under the Union Budget 2023-24, the government of India allocated USD 33 billion to the Ministry of Road Transport and Highways. The funding aims to ensure a robust and efficient road network that supports the country’s economic and social development goals. Additionally, in July 2024, the government of India announced plans for over USD 30 billion in equipment to speed up coal-fired power capacity additions. This move addresses the rising electricity demand and recent supply challenges, highlighting the need to strengthen infrastructure.
| Report Attribute | Details |
|---|---|
| Base Year: | 2023 |
| Trenchers Market Size in 2023: | USD 816 Million |
| Forecast Period: | 2024 to 2032 |
| Forecast Period 2024 to 2032 CAGR: | 3% |
| 2032 Value Projection: | USD 1.09 Billion |
| Historical Data for: | 2021 – 2023 |
| No. of Pages: | 300 |
| Tables, Charts & Figures: | 250 |
| Segments covered: | Product, Operating Mode, Power Source, Application and Industry Vertical |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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Trenchers are costly machines, making them hard for smaller companies to afford. The high initial capital required for purchasing trenchers is a significant barrier for new companies and limits the growth existing players to expand their fleets. Furthermore, the demand for trenchers depends on the construction and infrastructure sectors, which are affected by the economic conditions. During economic downturns, construction projects may be delayed or canceled, reducing the demand for trenchers and leading to decreased sales and revenue for manufacturers.
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Trenchers Market Scope
