Dublin, March 10, 2021 (GLOBE NEWSWIRE) -- The "Piling Machine Market Trends, Growth & Analysis, by Product, by Method, by Application, by Region, Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.
Rapid industrialization, coupled with growing commercial and residential construction activities, is fuelling the market growth.
The global piling machine market is poised to accumulate around USD 7.15 Billion by 2027. Piling machines are mechanical semiconductor equipment used to place poles or piles in the ground to support architectural structures. These machines are equipped with piles of different lengths and find extensive application in the construction of buildings, bridges, water tanks, etc. Continually increasing construction and mining activities in emerging economies, growing need for foundation machinery for construction purposes, surging demand for piling machines for railway infrastructure and metro rail system development, increasing investments in public infrastructure development, and the augmenting demand for these machines to install wind turbines, increasing use in solar power and power transmission plants, and the growing use in the oil & gas industry are the pivotal factors stimulating the growth of this market.
Governments worldwide have put forward several initiatives for efficient energy output via non-conventional energy sources like solar and wind, which, in turn, has escalated the demand for piling machines. Stringent government norms against construction noise and vibration in residential areas have encouraged manufacturers to develop low-noise piling machines. Moreover, increasing government expenditure on developing new technologies, such as micro piling, CFA, geothermal application drilling, large diameter piling, jet grouting, cutter soil mixing, and hydro-mill technology, also provide the global market with numerous growth opportunities in the future. However, the requirement for skilled labor for the smooth operation of heavy machinery like the piling machine, the high prices of these machines, and a low replacement rate due to these machines' long life are certain factors likely to hinder the global market expansion.
Key findings of the report:
Among the various machine types, the hydraulic hammers segment leads the global piling machine market and is predicted to register a 17% CAGR by 2027. These machines are stronger than other hand-held hammers and find significant use in demolition activities.
The CFA method segment dominates the market with an estimated CAGR of 5.2% over the projected period. However, the air-lift Reverse Circulation Drilling RCD method segment is expected to exhibit a robust of 5.3% over the same period.
The North American piling machine market is the leading regional segment, with the U.S. as the key growth engine. Active monitoring and control of the marine ecosystem have boosted the adoption of piling machines in the region. For instance, the Environment Protection Agency EPA laid out strict regulations on noise emissions from shipping vessels to safeguard the marine environment.
The Asia Pacific market is foreseen to emerge as the dominant region over the forecast period, with a market share of 26%. Rapid industrialization, increasing construction activities, and the expanding mining industry, especially in developing nations like China and India, are the key drivers for the regional market growth. Furthermore, the piling machine market across Europe has witnessed substantial growth in recent years. Due to the growing concerns about environmental pollution caused by combustion engines, the government authorities in many European countries and the U.S., Japan, India, and China, have enforced stringent emission control standards. This, in turn, has boosted the demand for low-emission, fuel-efficient piling machines.
In August 2020, the renowned U.K.-based machinery sales company, Piling Equipment Ltd., introduced its latest rotary rig called the Cobra T12000. The compact piling machine performs standard piling functions and offers a better fuel economy, reduced engine noise, lower emissions, and enhanced lifting capacity.
India's largest construction equipment manufacturer, Action Construction Equipment ACE, launched the latest range of its foundation equipment, dubbed the ACE-Sunward Rotary Piling Rigs, along with the NextGen NX-series Cranes, in January 2020. With the new launch, ACE looks to emerge as a global frontrunner in the construction equipment segment by 2025.
Key Topics Covered:
Chapter 1. Market Synopsis
Chapter 2. Executive Summary
Chapter 3. Indicative Metrics
Chapter 4. Piling Machine Segmentation & Impact Analysis
Chapter 5. Piling Machine Market By Product Insights & Trends
Chapter 6. Piling Machine Market By Method Insights & Trends
Chapter 7. Piling Machine Market By Applications Insights & Trends
Chapter 8. Piling Machine Market Regional Outlook
Chapter 9. Competitive Landscape
Chapter 10. Company Profiles
BSP International Foundations Ltd.
International Construction Equipment Inc. (ICE)
Delmag GmbH & Co. KG
Kencho Kobe Co. Ltd.
Vulcan Foundation Equipment
Bermingham Foundation Solutions
For more information about this report visit https://www.researchandmarkets.com/r/wq8s1s
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