According to the new market research report “Portable Auger Drill Bits – Global Market Share and Ranking, Overall Sales and Demand Forecast 2024-2030”, published by QYResearch, the global Portable Auger Drill Bits market size is projected to grow from USD 847.3 million in 2023 to USD 1,122.5 million by 2029, at a CAGR of 4.8% during the forecast period.
- Global Portable Auger Drill Bits MarketSize (US$ Million), 2018-2029
Source: QYResearch, “Portable Auger Drill Bits – Global Market Share and Ranking, Overall Sales and Demand Forecast 2024-2030”
- Global Portable Auger Drill BitsTop11 Players Ranking and Market Share (Ranking is based on the revenue of 2022, continually updated)
Source: QYResearch, “Portable Auger Drill Bits – Global Market Share and Ranking, Overall Sales and Demand Forecast 2024-2030”
In 2022, the global top five Portable Auger Drill Bits players account for 65.3% of market share in terms of revenue. Above figure shows the key players ranked by revenue in Portable Auger Drill Bits.
- Portable Auger Drill Bits,Global Market Size, Split by Product Segment
Source: QYResearch, “Portable Auger Drill Bits – Global Market Share and Ranking, Overall Sales and Demand Forecast 2024-2030”
In terms of product type, Vertical Auger Drill is the largest segment, hold a share of 51.2%,
- Portable Auger Drill Bits,Global Market Size, Split by ApplicationSegment
Source: QYResearch, “Portable Auger Drill Bits – Global Market Share and Ranking, Overall Sales and Demand Forecast 2024-2030”
In terms of product application, Mining is the largest application, hold a share of 44.7%,
- Portable Auger Drill Bits,Global Market Size, Split by Region
Source: QYResearch, “Portable Auger Drill Bits – Global Market Share and Ranking, Overall Sales and Demand Forecast 2024-2030”
Source: QYResearch, “Portable Auger Drill Bits – Global Market Share and Ranking, Overall Sales and Demand Forecast 2024-2030”
Market Drivers:
- Construction and Infrastructure Development: The construction industry, including residential, commercial, and infrastructure projects, drives demand for portable auger drill bits. These drill bits are commonly used for tasks such as drilling holes for fence posts, deck footings, and landscaping projects, all of which are essential in construction and development activities.
- Agricultural Applications: Agriculture relies on portable auger drill bits for tasks such as planting crops, installing irrigation systems, and soil sampling. As agricultural practices continue to modernize and optimize efficiency, the demand for portable auger drill bits that can quickly and effectively drill into various soil types increases.
- DIY and Home Improvement Trends: The do-it-yourself (DIY) and home improvement market represents a significant segment for portable auger drill bits. Homeowners, hobbyists, and DIY enthusiasts use these drill bits for a wide range of projects, from gardening and landscaping to installing mailboxes and birdhouses. Trends in DIY culture and home renovation contribute to the demand for portable auger drill bits.
- Forestry and Land Management: Forestry and land management activities, such as tree planting, fence installation, and soil sampling, require portable auger drill bits for drilling holes in various terrains. These applications are essential for forest management, reforestation efforts, and land conservation initiatives, driving demand for portable auger drill bits in the forestry sector.
- Mining and Exploration: In mining and exploration industries, portable auger drill bits are used for soil sampling, geological surveys, and exploration drilling. As the demand for minerals and natural resources continues to grow, driven by industrialization and population growth, the need for efficient drilling equipment, including portable auger drill bits, increases.
About The Authors
HuChen Yang
Lead Author
Machinery and Equipment
Email: yanghuchen@qyresearch.com
Tel: +86-17801072109
About QYResearch
QYResearch founded in California, USA in 2007.It is a leading global market research and consulting company. With over 16 years’ experience and professional research team in various cities over the world QY Research focuses on management consulting, database and seminar services, IPO consulting, industry chain research and customized research to help our clients in providing non-linear revenue model and make them successful. We are globally recognized for our expansive portfolio of services, good corporate citizenship, and our strong commitment to sustainability. Up to now, we have cooperated with more than 60,000 clients across five continents. Let’s work closely with you and build a bold and better future.
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