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Excavation And Demolition Global Market Report 2023
Major players in the excavation and demolition market are VINCI Group, Grupo ACS, Bechtel Corporation, Hochtief AG, Skanska AB, Balfour Beatty Plc., Bouygues Construction SA, Kiewit Corporation, Koninklijke BAM Groep, Laing O’Rourke, Eiffage SA, Acciona SA, Sekisui House Ltd.
New York, June 06, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Excavation And Demolition Global Market Report 2023" - https://www.reportlinker.com/p06464122/?utm_source=GNW
, China Railway Construction Corporation Limited, NVR Inc., Daiwa House Industry Co. Ltd., and Ferrovial SA.
The global excavation and demolition market is expected to grow from $463.01 billion in 2022 to $480.41 billion in 2023 at a compound annual growth rate (CAGR) of 3.8%.The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The excavation and demolition market is expected to reach $539.62 billion in 2027 at a CAGR of 2.9%.
The excavation and demolition market includes revenues earned by entities by providing land levelling and earthmoving services for construction, repair, alteration, addition, replacement, maintenance, and remolding.The market value includes the value of related goods sold by the service provider or included within the service offering.
Only goods and services traded between entities or sold to end consumers are included.
Excavation is the practice of moving soil, rock, or other materials using explosives, equipment, or tools.Earthmoving, trenching, wall-shafting, tunnelling, and other activities are all included in excavation.
Demolition refers to the activity of destroying existing structures.
Asia-Pacific was the largest region in the excavation and demolition market in 2022. The regions covered in the excavation and demolition market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of excavation and demolition are building construction, heavy and civil engineering construction, specialty trade contractors, and land planning and development.Building construction refers to the process of erecting different types of structural buildings.
The various equipment types include earthmoving equipment, material handling equipment, heavy construction vehicles, and others. These are used by housing, healthcare, industrial, infrastructure, commercial, and educational end-users.
The expanding government infrastructure projects are driving the excavation and demolition market going forward.Infrastructure development refers to the process of building and enhancing basic services, such as energy and transportation networks.
The governments are launching and increasing infrastructure projects to improve their domestic infrastructure.Excavation is the basic step in the construction of all buildings and hence it is widely used in infrastructure development projects.
For instance, in November 2022, the U.S. Department of Transportation (USDOT) which is responsible for planning and coordinating federal transportation projects and the Federal Highway Administration (FHWA) which specializes in highway transportation, invested $120 billion in Federal Highway projects and $20.4 billion in the development of public transport. Additionally, the U.S. Department of Transportation (USDOT) and Federal Highway Administration (FHWA) invested $3 billion in the development of airports and $3.9 billion in developing ports and waterways. Therefore, the increasing government infrastructure development projects drive the excavation and demolition market.
Technological advancements are a key trend gaining popularity in the excavation and demolition market.Major companies in the market are introducing new technologies to sustain their position in the market.
For instance, in August 2022, Rod Radar, an Israel-based developer of technologies related to construction, launched Live Dig Radar technology.This is the first ever ground penetrating radar (GPR) integrated with an excavator digging bucket.
By detecting any form of underground utility during earthwork at any depth in real time, Live Dig Radar technology overcomes the limitations of current technologies.Any excavator with a standard attachment mechanism can accommodate the bucket.
The LDR Excavate reliably detects targets close to the bucket while trenching and on the surface. It does this by creating a new scan with each pass in various soils and substrate types, warning the operator of potential dangers without the need for specialized analysis.
In December 2021, Congruex, a US-based provider of end-to-end design, engineering, construction, and maintenance services for broadband providers acquired Ohio Valley Excavating (OVE) for an undisclosed amount.The acquisition will enhance Congruex’s service offerings and bring further expertise in the utility space.
Ohio Valley Excavating is a US-based provider of excavation services for commercial and industrial construction and emergency repairs.
The countries covered in the excavation and demolition market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The excavation and demolition market research report is one of a series of new reports that provides excavation and demolition market statistics, including excavation and demolition industry global market size, regional shares, competitors with an excavation and demolition market share, detailed excavation and demolition market segments, market trends and opportunities, and any further data you may need to thrive in the excavation and demolition industry. This excavation and demolition market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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