MRRSE has added a new research report on the "lobal Market Study on Piling Machines: Piling Rig Segment to Account for Maximum Share of 36.4% by 2016 End" to its collection.
Albany, NY -- (SBWIRE) -- 01/12/2017 -- Piling machines are foundation equipment used to drive piles into the soil to provide support to buildings and structures. Piling machines find application in various infrastructure projects related to rail infrastructure, highways, bridges, tunnels, etc. In terms of value, the global piling machine market was valued at US$ 922 Mn in 2015. The market is anticipated to expand at a CAGR of 6.2% in terms of value over the forecast period (2016–2024).
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Market drivers and challenges
Increasing demand for residential and commercial infrastructure such as residential buildings, commercial buildings, bridges, highways, metro rails, etc. as a result of the growing population worldwide, along with increasing disposable income especially in emerging economies such as China and India is expected to fuel the demand for piling machines. Growing non-conventional shale gas and tight oil exploration activities in regions such as North America is also likely to fuel the demand and market growth of piling machines in the region. Moreover, increasing projects related to the generation of power through wind and solar energy are also expected to boost the demand for foundation work which in turn is likely to drive the growth of the global piling machine market over the forecast period.
However, rising concerns over air and noise pollution during the operation of piling machines resulting in stringent regulatory policies regarding the same is expected to restrain growth of the global piling machine market.
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Segmentation overview and forecast
The global piling market has been segmented on the basis of product type into diesel hammer, vertical travel lead systems, hydraulic hammer, hydraulic press-in, vibratory pile driver, and piling rig. The piling rig product type segment is estimated to account for a maximum share of 36.4% of overall market sales by the end of 2016. The hydraulic press-in segment is anticipated to be the fastest growing segment and is expected to expand at a CAGR of 7.1% during the forecast period. The vibratory pile driver segment is estimated to account for 26.9% of overall market sales by 2024.
The global piling machine market has been segmented into five key regions of North America, Asia Pacific (APAC), Latin America, Europe, and Middle East & Africa (MEA). Asia Pacific is expected to be the dominant region in the global piling machine market and is estimated to account for maximum share of 47.4% of the global sales of piling machines by the end of 2016. This is mainly attributed to growing urbanization resulting in a rapid expansion of the residential sector in urban as well as semi-urban areas, fueling infrastructure projects in emerging economies such as India and China.
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Sales revenue in the North America market is anticipated to increase at a CAGR of 4.9% over the forecast period and reach US$ 328.7 Mn by 2024. The markets in Latin America, Europe, and Middle East & Africa are anticipated to expand at significant CAGRs in terms of value over the forecast period. Sales revenue in Latin America is estimated to increase at a CAGR of 4.2% over the forecast period to be valued at US$ 79.7 Mn by 2024. This is mainly attributed to a rapid growth of the mining industry in Peru and Chile, owing to the discovery of abundant copper and gold reserves in the region.
Key market players
Bauer Group, Junttan Oy, Soilmec S.p.A, Liebherr Group, BSP International Foundations, Casagrande S.p.A., International Construction Equipment, DELMAG GmbH & Co. KG, Changsha Tianwei Engineering Machinery Manufacturing Co., Ltd., and MAIT S.p.A are some of the major players in the global piling machine market. Top market leaders are focusing on creating innovative energy-efficient and economical products to remain competitive and to boost sales in emerging markets such as Asia Pacific.
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