Rockville, MD , Dec. 16, 2024 (GLOBE NEWSWIRE) -- The Cold Milling Machine Market is anticipated to grow at a compound annual growth rate (CAGR) of 4.6% from 2024 to 2034, from a projected valuation of US$ 2,079.0 million in 2024 to US$ 3,259.7 million by 2034.
The cold milling machine market will see stable growth due to high infrastructure development and increased rehabilitation projects in roads worldwide. Most government investments in transport infrastructure, coupled with rapid urbanization, continuously facilitate more demand for such machines. Technological advancements that ensure efficiency and productivity are still some of the key contributors to the market's upward trajectory.
Other innovative developments involve automatic grade control systems, 3D milling, and telematics that enable machines to be monitored in real time, perform predictive maintenance, reduce material waste, and decrease fuel consumption while optimizing operations. There is a shift in the market toward sustainable practices through eco-friendly technologies involving dust suppression systems with reduced emissions engines.
Medium-sized machines are preferred due to versatility in both urban and rural areas and will continue to dominate the market. It can balance power with manoeuvrability, thus becoming suitable for a range of road maintenance projects. Cold milling machines have their main use in asphalt roads due to the sustainability of asphalt recycling and quick rehabilitation with minimal traffic disruption.
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Irrespective of high initial investment costs and competition from other substitute technologies, cold milling machines have been in strong demand. Growing requirements for aged infrastructure rehabilitation and government-initiated actions in both developed and developing countries drive the market significantly. The United States and China are likely to be two important growth markets in the next years, based on respective policies against infrastructure and rates of urbanization.
This optimism is further echoed by technological advancements that give contractors greater efficiency and more value for money, placing the cold milling machine market in a progressively upward spiral of growth.
Key Takeaways from the Market Study:
- During 2024-2034, the market will expand with a CAGR of 6%
- Among regions, East Asia exhibits the fastest growth with a CAGR of 5%
- Medium (Milling Width 1 meter to 2 Meter) holds about 1% of the share in the size segment in 2024.
- In the application segment, asphalt road accounts for about 8% of the market share in 2024.
- The global cold milling machine market growth was about 6% during the historic period (2019-2023).
“Infrastructure Development Initiatives Worldwide Spur Demand for Cold Milling Machines,” says a Fact.MR analyst.
Leading Players Driving Innovation in the Cold Milling Machines Market:
Astec Industries; Bomag GmbH; Caterpillar Inc.; CMI Roadbuilding Ltd; Dynapac; John Deere; Komatsu; Liugong Machinery Co., Ltd.; Sakai Heavy Industries, Ltd; Sany Group; Shantui Construction Machinery Co.; Simex S.r.l.; Wirtgen Group; XCMG; Xugong Group Construction Machinery Co., Ltd.; Zoomlion Heavy Industry Science & Technology Co.; Other Prominent Players
Market Growth Stratagems:
The latest growth strategies involved in the cold milling machine market are targeted at increasing efficiency using higher technological integrations, such as real-time data platforms and precision control systems. Sustainability, however, is a consideration of the designs through eco-friendly construction to minimize fuel consumption and resultant emissions. This will enhance productivity by minimizing material waste and optimizing performances involved in complicated milling projects to remain competitive, especially with increasing infrastructural demands. For Instance,
- In February 2024, Trimble expanded its 3D paving control systems to include the Trimble Roadworks Paving Control Platform for Mills and Cold Planers. The Android-based system offers operators control to better the depth of cut to within a few millimeters of project design. Overcutting is reduced and there's an improvement in smoothness of the surface for complex projects of airport runways and highways, while improving the paver's efficiency.
- In May 2023, BOMAG launched its new BM/65 series of cold planers. Featuring a CECE with an operating weight of only 27 tons, the bm 2000/65 is the lightest planer currently on the market. in the 2-metre class. its low weight achieved by the special lightweight design and the this, in turn, makes the planers even more flexible to use with the shorter conveyor belt.
Cold Milling Machines Industry News:
- In September 2023, The Wirtgen has launched W 150 F(i) cold milling machine for high milling performance in tight space conditions. This front loader, with an operating width of 1.50 m, is powered by a fuel-saving 315 kW engine that meets EU Stage 5 and US Tier 4 Final emissions requirements. Its advanced MILL ASSIST system optimizes operational costs and performance.
- In March 2024, Caterpillar introduced VisionLink Productivity for the Cat PM600- and PM800-series cold planers. This cloud-based platform offers the contractor near real-time machine and jobsite data to help improve productivity, monitor asset utilization and reduce operating costs. It offers in-depth reporting and insights into key performance indicators including fuel burn, milling speeds, and equipment usage-to optimize performance.
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More Valuable Insights:
Fact.MR, in its new offering, presents an unbiased analysis of the cold milling machine market, presenting historical market data (2019-2023) and forecast statistics for the period of 2024-2034.
The study reveals essential insights on the basis of by size (small (milling width less than 1 meter), medium (milling width 1 meter to 2 meter) and large (milling width above 2 meter)), by engine power (less than 155 kW, between 155 kW to 300 kW and above 300 kW), by application (asphalt road and concrete road) across major regions of the world (North America, Latin America, Western Europe, Eastern Europe, East Asia, South Asia, and Pacific, Middle East & Africa).
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