Region - North America, Europe, Latin America, APAC, MEA;
New York, NY -- (SBWIRE) -- 05/09/2018 -- Companies such as Bermingham Foundation Solutions are developing intelligent pile driving systems to make their equipment much more efficient. In this solution, hammer energy is controlled in real time by number of measured variables such as vibrations, measured sound levels and number of dynamic testing equipment including pile stress (tension or compression) or required capacity. Such solutions can bring in the efficiency by reducing the energy consumption of the equipment. In addition, manufacturers of foundation equipment are also developing piling equipment that are enabled with GPS or other land positioning systems for locating foundations.
Sensors on the booms of cranes mast of foundation rigs, or on the top of vertical lead systems are used for the positioning of foundation elements. Such technological developments allow the rig or crane to position the foundation to the specific coordinates and hence minimizing the cost for survey staking and the inevitable re-staking.
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These are some of the important findings of the latest report released by Persistence Market Research which is titled as 'Piling Machine Market: Global Industry Analysis and Forecast 2017 – 2024'. Besides such valuable information, this report also gives comprehensive information on the market dynamics that are affecting the growth of global piling machine market. As per the numbers given in this report, the global piling machine market was valued at US$ 1,029.2 Mn in 2017 and is expected to reach a valuation of US$ 1,577.6 Mn in 2024 end, reflecting a CAGR of 6.3% during the assessment period of 2017-2024.
Global Piling Machine Market: Dynamics
Technological advancement in hydraulic fracturing has resulted in major shift from conventional oil and gas production to non-conventional shale gas and tight oil production. Growing production of shale gas and tight oil especially in U.S. and Canada are expected to witness an increase in foundation works for production facilities of shale gas and tight oil and thus likely to amplify the demand for piling machines. According to U.S. Energy Information Administration (EIA) estimates in the Annual Energy Outlook 2016 (AEO2016), that production from shale gas and tight oil resources is projected to grow from about 14 Tcf in 2015 to 29 Tcf by 2040, accounting for about 69% of the 2040 total dry natural gas production in US.
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However, rising environmental concerns regarding pollution caused i.e. dust and carbon dioxide released during operations is expected to hinder piling machines market growth. For instance, construction noise is regulated by the requirements of the New York City Noise Control Code which states that specific construction equipment and motor vehicles meet specified noise emission standards and that construction activities be limited to weekdays between the hours of 7 AM and 6 PM. Also, construction materials are to be handled and transported in such manner so that it does not create any unnecessary noise.
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Global Piling Machine Market: Segmentation and Forecast
The global piling machine market is segmented on the basis of product type and region.
Piling rigs segment is estimated to account for a maximum share of approximately 36 percent of overall sales by 2017 end. The segment is expected to gain market share by 2024 as compared to that in 2017. Growth of piling rigs segment is mainly attributed to upcoming railway, metro rails and other construction projects in North America, Europe and Asia Pacific.
Vertical travel lead system segment is expected to be valued at US$ 140 Mn in 2017 and is projected to witness a robust CAGR and is projected to be valued at US$ 218.4 Mn by 2024.
Asia Pacific is estimated to account for a share of nearly 48 percent of global sales of piling machines by 2017 end. The market in the region is expected to gain market share by 2024 as compared to that in 2017.
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Global Piling Machine Market: Competition Landscape
This report profiles some of the key companies that are operating in the global piling machine market in the competition landscape section. Some of the important companies that have been included in this section of the report are BSP International Foundations, Soilmec S.p.A., Casagrande Group, Bauer Group, International Construction Equipment, Liebherr, Junttan Oy, DELMAG GmbH & Co. KG, Changsha Tianwei Engineering Machinery Manufacturing Co., Ltd. and MAIT S.p.A.