TRENCHER MARKET ANALYSIS
Regional Analysis of the Global Trencher Market
On the basis of region, the global trencher market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa.
North America is expected to be the largest market in the trenchers market over the forecast period. The U.S. has been producing oil since 1850’s and gas since 1820’s, respectively. According to Coherent Market Insights, in 2017, the U.S. produced 567.2 million metric tons of oil and 767.3 billion cubic meters of natural gas. As of 2017, it had the world’s ninth-largest oil reserves and fifth largest natural gas reserves. Moreover, the U.S. is the world’s largest oil consuming nation and natural gas consuming nation, consuming around 851.6 million metric tons of oil in 2017 and 27.5 trillion cubic feet of natural gas in 2017. Such increasing consumption and production of natural gas and oil in the U.S., leads to high demand for trenchers, which in turn propels growth of the market.
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