The global piling machines market to 2024
New sales of piling machines in 2015 was pegged at 1,611 units and this is anticipated to increase at a CAGR of 3.8% over the forecast period (2016–2024) to reach 2,259 units by 2024.
The global piling machine market is likely to grow exponentially over the forecast period because of an increasing demand for residential and commercial infrastructure such as residential buildings, commercial buildings, bridges, highways, railways and so on as a result of the growing population worldwide, along with increasing disposable income especially in emerging economies such as China and India. Rising investment in advanced technologies for the production of energy from non-conventional sources such as wind and solar energy is likely to further boost market growth. However, rising concerns over air and noise pollution from piling machines and stringent regulatory policies are expected to restrict sustained growth.
The global piling market has been segmented on the basis of:
- Product type (diesel hammer, vertical travel lead systems, hydraulic hammer, hydraulic press-in, vibratory pile driver, piling rig).
- Region (North America, Asia Pacific, Latin America, Europe, and Middle East & Africa).
The piling rig product type segment is expected to account for 36.4% of overall market sales by the end of 2016 and to be valued at US$ 678.9 Mn by 2024. The vibratory pile driver segment is projected to be the second largest segment and is anticipated to contribute a sales revenue of US$ 192.9 Mn by 2016. The hydraulic press-in segment is anticipated to be the fastest growing segment during the forecast period and is expected to reach a market value of US$ 120.6 Mn by 2024.
The hydraulic press-in and piling rig segments are expected to continue to be the most prominent segments in this market and are expected to grow significantly due to increasing demand, especially in emerging economies.
Among the regions, the Asia Pacific is expected to be the fastest growing market for piling machines over the forecast period. The market for piling machines in the APAC region is estimated to reach US$ 829.7 Mn by the end of 2024. Sales revenue in the North America market is anticipated to increase at a CAGR of 4.9% over the forecast period and reach US$ 328.7 Mn by 2024. Sales of piling machines in Europe was valued at US$ 169.9 Mn in 2015 and is expected to increase at a CAGR of 5.5% over the forecast period to reach a market valuation of US$ 274.1 Mn by 2024.
The leading players operating in the global piling machine market include Bauer Group, Junttan Oy, Soilmec S.p.A, Liebherr Group, BSP International Foundations, Casagrande S.p.A., International Construction Equipment, DELMAG GmbH & Co. KG, Changsha Tianwei Engineering Machinery Manufacturing Co., Ltd., and MAIT S.p.A. These leading companies are focusing on creating innovative energy-efficient and economic products to remain competitive and boost sales in emerging markets such as Asia Pacific.
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