Acumen Research and Consulting, a global provider of market research studies, in a recently published report titled “Piling Machine Market – Global Industry Analysis, Market Size, Opportunities and Forecast, 2020-2027”
LOS ANGELES, April 22, 2021 (GLOBE NEWSWIRE) -- The Global Piling Machine Market is anticipated to grow at a CAGR of around 4.0% during the forecast period 2020 to 2027 and to reach around US$ 7.6Bn by 2027.
Increasing construction and infrastructure development projects across the globe is expected to drive the growth of the global piling machine market.
The market in North America is expected to account for a noticeable revenue share in the global piling machine market due to increasing construction activities in the region. Players are focused on enhancing the operational efficiency on the construction site. They are adopting more advanced and enhanced equipment in order to avoid any fault margin in the construction phase. Players are using of highly advanced and sophisticated pieces of engineering such as vibratory drivers and piling rigs in the construction of high-rise buildings, overpasses, and other architectural marvels. Player’s inclination towards gaining construction contracts is expected to support the growth of the target market.
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The market in Asia Pacific is expected to account for a major revenue share in the piling machine market due to rapid urbanization in developing countries. The government of developing countries is spending high on development of advanced infrastructure. This is increasing the construction activities in the region. According to Ministry of Commerce & Industry, Government of India, the infrastructure sector has become the biggest focus area for the Government of India. India plans to spend US$ 1.4 trillion on infrastructure during 2019-23 to have a sustainable development of the country. Major players approach towards emerging economies in order to track the untapped market and introduction of new solutions are factors expected to impact the growth of target market.
In 2021, Sany India, a global leader in the construction industry launched “Piling Rig SR235” for a reliable structure is designed for all arduous applications. The product launch is the first regional product and is expected to help strengthen the regional manufacturing capabilities.
In 2019, Eimco Elecon a leading manufacturer and supplier of various mining and construction equipment launched “Piling Rig model EC-216”. This product launch helped the company to enhance the product portfolio and increase the revenue share in the Indian market.
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Rapid technological advancements in construction equipment, increasing construction and infrastructure development projects is resulting in demand for piling rigs this is a major factor expected to drive the growth of the global piling machine market. Piling rigs is major rely used on construction sites to drill challenging terrains such as porous soil, or silty clay fields for foundation strengthening and other support work. High investment by major players for product development and introduction of new products with high precision is expected to impact the growth of the piling machine market.
In 2021, Casagrande S.p.a a global construction equipment manufacturer launched “C20-Classic hydraulic piling rigs”. The C20 is designed to satisfy the European Union standards on safety and is manufactured to comply with the ISO 9001 requirements on quality.
In 2020, Aarsleff a global equipment manufacturer launched the “PMx22 piling rig”. The PMx22 provides benefits such as lower emissions, better fuel economy, quieter and safer operations, and more reliability. The product was an addition to the existing product line.
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Factors such as high cost associated to product and maintenance and lack of investment for development are factors expected to hamper the growth of the global piling machine market. In addition, inclination towards equipment renting is lowering the demand for new products this is expected to challenge the growth of the target market. However, increasing investment by major players for the development of low cost products and increasing construction activities are factors expected to create new opportunities for players operating in the piling machine market over the forecast period. In addition, increasing partnerships and agreements is expected to support the revenue transaction of the target market.
The global piling machine market is segmented into product types and methods. The method segment is bifurcated into impact-driven, drilled percussive, rotary bored, air-lift rcd rig, auger boring, continuous flight auger, and others. Players operating in the global piling machine market are MAIT S.p.A., Soilmec S.p.A., BSP International Foundations, International Construction Equipment, Liebherr Group, Bauer AG; Casagrande S.p.a, ABI GmbH, TRANSOCEAN LTD., Changsha Tianwei Engineering Machinery Manufacturing Co., Ltd., TES CAR SRL, Junttan Oy, Liugong Machinery Co., Ltd., Shenzhen Sinovo Electric Technologies Co., Ltd. The market is highly competitive due to presence of large number of players operating on a global level.
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