Selbyville, Delaware, March 08, 2022 (GLOBE NEWSWIRE) --
The soil compaction equipment market is expected to surpass USD 4 billion by 2028, as reported in a research study by Global Market Insights Inc. The upward trend of mechanization in the construction and road-building industries is spurring the demand for soil compaction equipment. Contractors and construction companies are switching to technologically advanced rollers and plate compactors to reduce dependency on human labor for compaction tasks.
The COVID-19 pandemic negatively impacted the soil compaction equipment market growth owing to strict lockdown measures in several countries in 2020. Factors including demand losses, disruptions in supply chains, and the unavailability of raw materials & labor are projected to raise construction machinery prices over the coming years. To ensure the continuous supply of products & services to distributors and customers, companies are reassessing their supply routes and engaging in shift work schedules.
The growing tourism industry has resulted in increased spending on road maintenance and infrastructure projects, creating a high demand for rammers. For instance, in February 2022, the Romanian government announced the commissioning of the Buzau-Focsani highway project. The road network will be a part of the worldwide TEN-T network and is estimated to cost over USD 1.5 billion. The development of new roads and the refurbishment of existing ones in European and Asian countries will propel the market share of rammers.
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The North America soil compaction equipment market is driven by rising infrastructure development activities. Regional governments are supporting several major infrastructure projects, such as the development of roads, railroads, bridges, and ports, to enhance transportation services. Every building process necessitates soil compaction to rearrange soil particles and minimize the void ratio. Favorable government funding for infrastructure development will fuel the market demand .
Industry players are actively engaged in new product launches to acquire a wide consumer base. For instance, in February 2021, Dynapac Inc. launched its CA385D soil compactor product in the Indian market. This model features a static linear load of 39 kg/cm and a drum shell thickness of 35 mm to fulfill high compaction requirements. This launch will help the company in increasing its customers in India.
Some prime findings in the soil compaction equipment market report include:
- The high focus of governments on farm mechanization to increase productivity through the optimal use of inputs and natural resources to reduce cultivation costs will increase the expansion for machinery including tractors, combine harvesters, and soil compactors.
- Burgeoning demand for construction rental equipment will propel the market for soil compaction equipment. The high initial purchase cost of soil compaction machines is encouraging contractors and construction companies to shift to compaction equipment rentals.
- Smoothed wheeled rollers are anticipated to hold a significant market share through 2028. The ability of smoothed wheeled rollers to compact sand, gravel, ballast, and surface dressing efficiently is propelling the soil compaction equipment market growth.
- The increasing road, rail, dams, and embankment construction projects globally will fuel the market sizefor sheepsfoot rollers. Sheepsfoot rollers are primarily used for the compaction of cohesive & dense soils including heavy or silty clays that are crucial in building roads & rails in rugged terrain regions.
- The major players in the social compaction equipment market are Dynapac, Bomag GmbH, CASE Construction Equipment, Ammann Group, Hamm AG, Hitachi Construction Machinery Co., Ltd., J C Bamford Excavators Ltd. (JCB), Martin Trailer Company (Pty) Ltd., MBW Inc., and Weber Maschinentechnik GmbH.
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Partial chapters of report table of contents (TOC):
Chapter 2 Executive Summary
2.1 Soil compaction equipment industry 360° synopsis, 2018 – 2028
2.2 Business trends
2.3 Regional trends
2.4 Product trends
Chapter 3 Soil Compaction Equipment Industry Insights
3.1 Industry segmentation
3.2 Impact analysis of coronavirus COVID-19 pandemic
3.2.1 Global outlook
3.2.2 Impact by region
3.2.2.1 North America
3.2.2.2 Europe
3.2.2.3 Asia Pacific
3.2.2.4 Latin America
3.2.2.5 MEA
3.2.3 Industry value chain
3.2.3.1 Research and development
3.2.3.2 Manufacturing
3.2.3.3 Marketing
3.2.3.4 Supply
3.2.4 Competitive landscape
3.2.4.1 Strategy
3.2.4.2 Distribution network
3.2.4.3 Business growth
3.3 Industry ecosystem analysis
3.3.1 Suppliers
3.3.2 Manufacturers
3.3.3 Distribution channel analysis
3.3.4 End-use landscape
3.3.5 Profit margin analysis
3.3.6 Vendor matrix
3.4 Technology & innovation landscape
3.4.1 Electric soil compactors
3.4.2 Intelligent Compaction Technology
3.4.3 Autonomous compaction system
3.5 Investment landscape
3.6 Regulatory landscape
3.6.1 North America
3.6.2 Europe
3.6.3 Asia Pacific
3.6.4 Latin America
3.6.5 MEA
3.7 Industry impact forces
3.7.1 Growth drivers
3.7.1.1 Increasing mechanization in the construction and agriculture sectors globally
3.7.1.2 Growing demand for compaction equipment rentals in North America
3.7.1.3 Positive outlook of the construction industry in Asia Pacific
3.7.1.4 Rapid development of public infrastructure in Latin America and MEA
3.7.2 Industry pitfalls & challenges
3.7.2.1 Environmental concerns related to soil compaction
3.8 Growth potential analysis
3.9 Porter's analysis
3.9.1 Supplier power
3.9.2 Buyer power
3.9.3 Threat of new entrants
3.9.4 Threat of substitutes
3.9.5 Internal rivalry
3.10 PESTEL analysis
About Global Market Insights
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
