Report: Global HDD Market to Grow Through 2022
6/16/2017
According to an Azoth Analytics report, “Global Horizontal Directional Drilling (HDD) Market: Analysis By Type (Maxi HDD, Midi HDD, Mini HDD), By Application (Construction, Telecommunication, Oil and Gas, Others), By Region, By Country: Opportunities and Forecast (2017-2022),” the global HDD market is projected to increase at a CAGR of 6.85% during 2017 – 2022.
Reasons given for growth include:
- The installation of utility segments such as power cables, sewer lines, and water transmission lines
- Increasing urbanization
- Rising population
- Growing awareness about minimally invasive techniques
- Increased usage in the telecom industry
The report also projects Asia Pacific to grow at the highest rate, due to increased infrastructure expenditures and a growing number of telecom and oil and gas projects.
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