The Piling Machine Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions - Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Piling Machine Global Market Report 2024, The piling machine market size has grown steadily in recent years. It will grow from $4.63 billion in 2023 to $4.84 billion in 2024 at a compound annual growth rate (CAGR) of 4.6%. The growth in the historic period can be attributed to expansion in global construction activities, demand for piling machines, industry standards and practices, environmental regulations.
The piling machine market size is expected to see steady growth in the next few years. It will grow to $5.86 billion in 2028 at a compound annual growth rate (CAGR) of 4.9%. The growth in the forecast period can be attributed to urbanization trends, government policies, economic growth, increasing investments in piling machine infrastructure, population growth. Major trends in the forecast period include rise of autonomous machine, smart technology integration, transmission piling machines, increased adoption of advanced technologies.
The growth of the construction industry across the globe is expected to propel the piling machine market. Construction activities refer to a business engaged in the design, development, and construction of buildings using construction materials. Piling machines are used in vertical vibrations to embed sheet piles and pipes in the construction of buildings, commercial offices, and industrial construction. For instance, in November 2022, according to a report shared by The Office for National Statistics, a UK-based statistics authority, the value of new construction projects in Great Britain in 2021 saw substantial growth (15.3%) to $140 million. Construction's private industrial, private dwelling, and private commercial sectors drove the 30.5% increase in new orders to $88,037 million in 2021, the industry's highest level in more than 45 years. Therefore, the growth of the construction industry across the globe is driving the piling machine market.
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The piling machine market covered in this report is segmented –
1) By Product: Impact Hammer, Vibratory Drivers, Piling Rigs, Other Products
2) By Piling Method: Impact Driven, Drilled Percussive, Rotary Bored, Air-lift RCD Rig, Auger Boring, Continuous Flight Auger, Other Piling Methods
3) By Application: Civil Engineering, Oil And Gas, Industrial Construction, Other Applications
Major companies operating in the piling machine market are developing new products such as fuel-efficient piling rigs to gain a competitive edge in the market. Fuel-efficient piling rigs are specialized construction machines designed for the installation of piles, which are vertical structural elements driven into the ground to provide foundation support for buildings, bridges, and other structures. For instance, in February 2023, Eimco Elecon (India) Limited, an India-based company that specializes in the manufacturing of heavy engineering equipment, launched EC 216. These rigs include affordable and interchangeable rotational internal components and are built to be extremely dependable, productive, and fuel-efficient. The three rotational speeds, anti-shock system, and high torque to weight ratio of the piling rigs all add to their productivity and fuel efficiency. Zaxis 370 is a well-known base that offers outstanding performance and stability while mounting rigs. Due to its three rotating speeds, the EC 216 is adaptable for a range of drilling applications and can handle different kinds of soil and rock strata.
The piling machine market report table of contents includes:
- Executive Summary
- Piling Machine Market Characteristics
- Piling Machine Market Trends And Strategies
- Piling Machine Market - Macro Economic Scenario
- Global Piling Machine Market Size and Growth
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- Global Piling Machine Market Competitive Benchmarking
- Global Piling Machine Market Competitive Dashboard
- Key Mergers And Acquisitions In Piling Machine Market
- Piling Machine Market Future Outlook and Potential Analysis
- Appendix
Top Major Players :
- China National Machinery Industry Corporation (SINOMACH)
- Liebherr-International AG
- Atlas Copco AB
- Epiroc AB
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