Jan 10, 2024 SOURCE: BusinessWire

Global Piling Machine Market Poised for Significant Growth to US$8.27 Billion by 2028 Amid Urbanization - ResearchAndMarkets.com

The "Global Piling Machine Market: Analysis By Product, By Method, By Region Size, Trends and Forecast to 2028" report has been added to ResearchAndMarkets.com's offering.

The global piling machine market in 2022 was valued at US$6.21 billion. The market is expected to be worth US$8.27 billion in 2028, growing at a CAGR of 4.90% during the forecast period of 2023-2028.

As construction activities are increasing significantly on account of widespread industrialization and urbanization worldwide, the demand for pilling machines is rising as these machines are used to create deep piles that anchor the structure to load-bearing strata deep under the ground, ensuring safety and stability. Moreover, increasing importance for unconventional energy sources such as the wind and solar energy for power generation fueled by regulatory support in China, India, and Japan is expected to promote further the foundation work and thus in turn fuel the demand for piling machines over the forecast period.

Market Segmentation Analysis:

By Product: Among the products, Piling rigs segment dominated the market in 2022. Piling rigs are equipped with the required machinery and mechanism to drill, drive, or bore piles into the ground. This market's dominance is attributed to the rising demand in construction projects as it offers the necessary support for the construction of homes, bridges and other building projects. In addition, piling rigs are compatible with vibratory hammers, impact hammers, and screw drills, which is likely to drive the segment's expansion in coming years.

By Method: In 2022, due to the growing utilization of this method for low cost and efficient pile installations at sites with hard soil or for final panel levelling, impact-driven piling segment leads the market in 2022. However, continuous flight auger is projected to be the fastest-growing segment owing to the suitability of this method for construction projects that have unstable soil conditions, especially in sites near existing structures, because of its ability to generate low vibrations and noise. Additionally, this method is an efficient solution for light-loaded structures.

By Region: Looking ahead, North America is projected to grow significantly from 2023 to 2028, propelled by growing real estate industry have increased the use of piling machines for drilling platforms and constructing structures, and growing support from the governments of countries in North America for advanced infrastructural setup.

During 2023-2028, the US is forecasted to maintain its lead within North America. This trajectory is largely attributed to the country's expansive construction sector, significant infrastructure investments, and rising number of wind farms. Furthermore, expansion of the mining industry in Mexico in light of favorable regulatory support to facilitate foreign mineral processors for investments at the domestic level is further predicted to encourage the foundation work, which is expected to augment the demand for piling rigs in the future.

Market Dynamics:

Growth Drivers: The market has been growing over the past few years, due to factors such as growing investment in wind energy sources, swift growth in infrastructure development, rapid urbanization, growing regulatory requirements, upsurge in oil and gas projects, etc. The rising demand due to the flourishing construction activities, driven by widespread industrialization and urbanizaton, has become a key growth driver for the global piling machine market.

Piling machines are crucial in the construction of skyscrapers, high-rise buildings, and commercial complexes. They are used to create deep piles that anchor the structure to load-bearing strata deep under the ground, ensuring safety and stability. Moreover, governments of various countries are investing heavily on enhancing the existing infrastructure, which is further contributing to the demand. Thus, with the rise in construction spending, the demand for piling machines to build high-rise structures is growing, fueling the overall market growth of piling machines.

Challenges: However, some challenges are also impeding the growth of the market such as high prices and low replacement rates, adherence to sound pressure level regulations, etc.

Trends: The market is projected to grow at a fast pace during the forecast period, due to various latest trends such as rising instances of renewable energy initiatives, expansion of mining sector, advent of eco-friendly equipment, technological advancements, increasing utilization in port and harbor construction, etc.

Manufacturers of piling machines are concentrating on upgrading their products, in order to enhance their efficiency and provide eco-friendly products. For instance, owing to environmental concerns, hydraulic hammers are gradually replacing diesel hammers. As a result, concerns about noise and dust pollution are reduced, which is anticipated to be a vital factor driving the overall market's growth.

Companies Profiled

Atlas Copco
Bauer
Liebherr Group
Boart Longyear
Tex Group
Casagrande
Soilmec
Xuzhou Construction Machinery Group
China National Machinery Industry
Junttan Oy
SANY Heavy Industry
J C Bamford Excavators

Key Topics Covered:

1. Executive Summary

2. Introduction

3. Global Market Analysis

3.1 Global Piling Machine Market: An Analysis

3.2 Global Piling Machine Market: Product Analysis

3.3 Global Piling Machine Market: Method Analysis

4. Regional Market Analysis

4.1 Asia Pacific Piling Machine Market

4.2 Europe Piling Machine Market

4.3 North America Piling Machine Market

4.4 Middle East & Africa Piling Machine Market

4.5 South America Piling Machine Market

5. Impact of COVID-19

6. Market Dynamics

6.1 Growth Drivers

6.1.1 Flourishing Demand from Construction Activities

6.1.2 Growing Investment in Wind Energy Sources

6.1.3 Rapid Urbanization

6.1.4 Swift Growth in Infrastructure Development

6.1.5 Upsurge in Oil and Gas Projects

6.1.6 Growing Regulatory Requirements

6.2 Challenges

6.2.1 High Prices and Low Replacement Rate

6.2.2 Rising Environmental Concerns and Scrutiny

6.2.3 Adherence to Sound Pressure Level & Vibration Regulations

6.3 Market Trends

6.3.1 Rising Instances of Renewable Energy Initiatives

6.3.2 Expansion of Mining Sector

6.3.3 Advent of Eco-Friendly Equipment

6.3.4 Increasing Utilization in Port and Harbor Construction

6.3.5 Technological Advancements of Piling Machine

7. Competitive Landscape

7.1 Global Piling Machine Market Players: Recent Developments

8. Company Profiling

For more information about this report visit https://www.researchandmarkets.com/r/l3jgr

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