Piling Machine Market Size – USD 5.22 Billion in 2020, Market Growth – CAGR of 4.4%, Market Trends – Rapid Urbanization and growth in the construction sector.
NEW YORK CITY, NY, UNITED STATES, November 12, 2021 /EINPresswire.com/ — The Global Piling Machine Market is forecasted to reach USD 7.36 Billion by 2028, according to a new report by Reports and Data. The rise in mining activities and construction in emerging countries like India and China is pushing the growth of the market. The growing need for foundation machinery in such operations is fueling the market of Piling Machines.
Government Regulations intended for boosting the energy output through non-conventional sources, such as solar and wind, are forecasted to increase the demand for foundation work which in turn will raise piling machinery demand. Moreover, governments across the globe are trying to raise their output using wind energy. This will raise the demand for wind turbines and thereby their installation. Thus, increasing the demand for Piling Machines.
However, the requirement of skilled labor for operating these heavy machinery will be a major challenge in the expansion.
APAC is forecasted to dominate the market. An increase in construction in developing nations like India and China is fueling the growth of the market. The expansion of the mining industry in emerging nations due to the abundance of minerals, such as gold and copper, is forecasted to promote the growth of the market.
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Key participants include Casagrande S.p.a, Watson, Inc., BSP International Foundations, Ltd., BAUER-Pileco, Tescar, Sinovo, International Construction Equipment, Inc. (ICE), Delmag GmbH & Co. KG, Kencho Kobe Co., Ltd., Vulcan Foundation Equipment, Bermingham Foundation Solutions, and Atlas Copco, among others.
For the purpose of this report, Reports and Data have segmented the global Piling Machine Market on the basis of Product, Method, Application, and Region:
Rotary Bored Piling
Air – Lift Reverse Circulation Drilling (RCD)
Impact Driven Piling
Continuous Flight Auger (CFA)
Other Piling Method
Residential & Commercial Construction
Oil & Gas
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Further key findings from the report suggest
Construction of bridges, Railways, Buildings, and other types of infrastructures requires machines that are capable of drilling deep into the ground.
By Method, the market is segmented into Drilled Percussive Piling, Rotary Bored Piling, Air – Lift Reverse Circulation Drilling (RCD), Impact Driven Piling, Auger Boring, Continuous Flight Auger (CFA), and Other Piling Methods.
Piling Machine is applicable mainly in construction. The Residential & Commercial Construction segment holds a market share of 19% in the year 2020.
Expansion of railways in various network countries like India, China, UAE, and Saudi Arabia, and projects for the metro rail system is forecasted to increase the demand for piling machine.
The Asia Pacific dominates the market with a forecasted market share of 26% in the year 2028. An increase in development and modernization is increasing the demand for piling machines in emerging nations.
Favorable government policies are forecasted to propel the market for piling machines in countries like India and China. MEA is forecasted to hold a market share of 19% in the year 2028.
Hydraulic Hammers are forecasted to hold a market share of 17% in the year 2028. They are more powerful than any other hand-held hammers and are generally used for demolition and breaking rocks into smaller sizes.
Continuous Flight Auger (CFA), has an annual growth rate of 5.2% throughout the forecast period. Stringent government regulations against vibrations and noise in urban localities are forecasted to increase the growth of the market for piling machines.
Air-Lift Reverse Circulation Drilling (RCD) is forecasted to grow with a share of 5.3% throughout the forecast period.
Oil and Gas dominate the market with a share of 23% in the year 2020 with an annual growth rate of 5.0%. Drilling is an essential part of the oil and gas sector and increases in excavation, and R&D increases the demand for piling machine.
Regional Outlook (Revenue, USD Billion; 2020-2028)
Research Methodology – Piling Machine Market
The research methodology adopted by analysts to compile the Piling Machine market report is based on detailed primary as well as secondary research. With the help of in-depth insights of industry-affiliated information that is obtained and legitimated by market-admissible resources, analysts have offered riveting observations and authentic forecasts of the Piling Machine market.
During the primary research phase, analysts interviewed industry stakeholders, investors, brand managers, vice presidents, and sales and marketing managers. On the basis of data obtained through the interviews of genuine resources, analysts have emphasized the changing scenario of the Piling Machine market.
For secondary research, analysts scrutinized numerous annual report publications, white papers, and import and export data of major countries of the world, industrial production index, industry association publications, and company websites to obtain the necessary understanding of the Piling Machine market.
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