Auger Drill Bits Market: Introduction
- Auger drill bits look similar to a screw. Auger drill bits are also commonly known as wood drill bits and used in both hand braces and machine tools. The drill bits are normally used in mining, geotechnical, and construction applications.
Key Drivers and Opportunities of the Global Auger Drill Bits Market
- The global auger drill bits market is expected to rise during the forecast period due to increase in demand for boring and drilling from the mining, agricultural, industrial, and construction sectors. In the construction industry, auger drill bits are used to drill oil & gas pipelines and sewage pipelines. Auger drill bits are commonly used in sewer construction because they allow for precise control of the diameter of a sewer hole. This method is also used in gold, coal, copper, and many other mineral activities. These are the factors that drive the demand for auger drill bits.
- Auger drill bits are more suitable for drilling holes in ice, ground, clay, and frozen solid as compared to other drilling bits. They are widely used in gardens, physical prospecting, tree planting, etc. Moreover, geotechnical applications use this type of drill bit to take samples of solids and rocks which is not possible by other drilling bits due to high rotary air blast drilling which leads to a high risk of damage to the sample at the time of removal. Thus, the auger drilling bits market is expected to witness significant growth during the forecast period.
Restraints of the Global Auger Drill Bits Market
- Auger drill bits are manufactured from materials such as stainless steel, carbon steel, and tungsten carbide. The price of materials such as tungsten carbide and stainless steel fluctuate a great deal. This fluctuation of raw material prices is one the factors likely to restrain the growth of the auger bits market during the forecast period.
- The Covid-19 pandemic had a negative impact on the global auger drill bits market. The spread of Coronavirus required the implementation of lockdown. This resulted in the closure of industries such as mining and construction, as well as supply chain disruption, which impacted the on time availability of the product. This is expected to affect the growth of the global auger drill bits market during the forecast period.
North America to Hold Major Share of the Global Auger Drill Bits Market
- In terms of region, the auger drill bits market can be divided into North America, Europe, Asia Pacific, Middle East & Africa, and South America
- North America is expected to dominate the global auger drill bits market during the forecast period. Increase in number of projects related to crude oil and metal mining operations provide huge opportunities for the auger drill bits market in North America, particularly in the U.S. and Canada.
- The auger drill bits market in Asia Pacific is expected to grow in the coming years due to rising investment in construction and mining industries. The rise in demand for minerals from developed and developing countries have resulted in increasing mining activities in the region over the past few years. Growth of the mining industry in the region is projected to be positive in the coming years which is expected to contribute significantly to the growth of the auger drill bits market during the forecast period.
Key Players Operating in the Global Auger Drill Bits Market
Major players operating in the global auger drill bits market include:
- B & A Manufacturing Company
- King Drill Precision Tools Co.
- Champion Equipment
- Western Drilling Tools Inc.
- Permier Attachments
- Atlas Copco
- Danyang Ceres Hardware Tools Co., Ltd
Global Auger Drill Bits Market: Research Scope
Global Auger Drill Bits Market, by End-use
- Minerals Mining
- Construction Industries
- Metal Mining
- Other (Agriculture, etc.)
Global Auger Drill Bits Market, by Distribution Channel
Global Auger Drill Bits Market, by Region
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
- South America
- Rest of South America
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