Farmington, Jan. 09, 2023 (GLOBE NEWSWIRE) -- Farmington The global compaction machines market is estimated to be valued at USD 5.2 Billion in 2022 and is expected to exhibit a CAGR of 6.5% and is expected to reach USD 8.7 Billion by 2030 over the forecast period 2023-2030. The process of compaction is what is used to make things smaller. Soil compaction is the most common way to make the soil strong and stable and to reduce soil erosion and permeability. A compactor is a machine used to pack down trash, gravel, soil, concrete, asphalt, and other things when building roads, airports, dams, and other things. In many projects to build roads, compacting machines play an important role.
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Most of the time, people use compaction machines to stop air and water from moving around in the soil and to fill in holes. For compacting, people use rammers, soft wheel rollers, pneumatic layer rollers, sheepsfoot rollers, and pad foot rollers, among other tools. Crushed stone, sand, soil, and other things are packed down with these machines.
Recent Developments:
- In September 2021, construction equipment manufacturer Volvo Construction Equipment unveiled the CX01 single drum asphalt compactor concept at The Utility Expo in Louisville, Kentucky.
- In September 2020, Volvo Construction Equipment launched the DD128C compactor, which offers the highest frequency and fastest rotational speed.
Segmentation Analysis:
By Types
Heavy compaction machines are used to make earth-moving materials that are packed down. Most of the time, these machines are used to make high-quality, tightly packed soil or rock. Soil, gravel, and asphalt are all packed down with the help of light compaction machines. They are also called plate compactors or vibratory compaction plates that can be held in your hand. Through a metal plate, these machines send high-frequency vibrations to the ground. The vibrations make the soil's particles move closer together, which makes the soil more solid.
By Application
The construction applications segment brought in the most money, with more than 40%. The growth can be explained by the fact that more and more places are becoming cities, which has led to a higher demand for building materials. Also, governments in a number of countries have started housing programmes to help their citizens find affordable homes. This is likely to drive the market over the next few years. In many places, like North America and Europe, people are always building new homes and businesses.
Regional Outlook:
Asia-Pacific took over the world market in 2019 with a share of sales of more than 41%. This is because there are more building projects and industrial projects, especially in countries with new economies like China and India. During the forecast period, the region is expected to grow a lot. This is because more people want better infrastructure and the population is growing, which will increase the need for compacted earthwork materials like soil, rock, sandstone, and shale, among others.
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Scope of Report:
| Report Attributes | Details |
| Growth Rate | CAGR of 6.5% from 2022 to 2030. |
| By Type | Heavy Compaction Machines, Light Compaction Machines |
| By Application | Foundation, Airport, Road, Other |
| By Companies | Kemira, SNF Group, Sanfeng Chem, GE Water, Shandong Zhongyuan, Jianheng Ind, BASF, Feralco Group, Akferal, RISING Group, Aditya Birla, Yide Chem, Taki Chem, IXOM, Zhongke Tianze, HYMO CORP, Guangzheng Aluminum Aalt, GEO, Solenis, Huntsman, Solvay, Holland Company, WPCP, Toagosei Group, Volvo Construction. |
| Regions and Countries Covered |
|
| Base Year | 2022 |
| Historical Year | 2017 to 2022 |
| Forecast Year | 2023 to 2030 |
Market Drivers:
During the period of the forecast, the global market for compaction machines is expected to grow because more infrastructure will be built. When building infrastructure, compacting machines are very important. Analysis by Coherent Market Insights shows that the world's road network has grown by more than 35% in the past ten years. More than half of the world's paved roads are in India and China. Also, China has added about three times as many paved roads since 2000. The International Energy Agency (IEA) says that China will have more annual road vehicle kilometers than the U.S. by 2025. This is because China is building and maintaining new roads at a very fast rate. About 3.5% of the world's GDP, or US$ 57 trillion, is expected to be spent on infrastructure. Of this amount, US$ 16.5 trillion will be spent on building and maintaining roads.
Market Restraints
During the period of the forecast, strict environmental policies are likely to slow the growth of the global market for compaction machines. When the machines are working, they release harmful gases like carbon dioxide and nitrous oxide into the air. So, it is very hard for market players to meet the strict fuel emission standards set by the government.
Market Opportunity:
There are many ways to get money to buy heavy compaction machines from financial institutions. During the forecast period, the ECE financing market is expected to grow at a CAGR of 22%. Leasing is far behind loans as a way to pay for something. Small and medium-sized businesses make up about 80% of ECE users who choose financing options like ventures. The biggest financial institutions involved are HDFC and Kotak Mahindra, as well as non-banking financial companies (NBFCs) like Magma Fincorp, leasing companies like ORYX India and Srei BNP Paribas, external commercial lenders, and cross-border leasing firms.
Key Segments Covered:
Top Market Players:
Kemira, SNF Group, Sanfeng Chem, GE Water, Shandong Zhongyuan, Jianheng Ind, BASF, Feralco Group, Akferal, RISING Group, Aditya Birla, Yide Chem, Taki Chem, IXOM, Zhongke Tianze, HYMO CORP, Guangzheng Aluminum Aalt, GEO, Solenis, Huntsman, Solvay, Holland Company, WPCP, Toagosei Group, Volvo Construction., and others.
On the Basis of Type:
- Heavy compaction machines
- Heavy tandem roller
- 5-8 Tonne
- 8-11 Tonne
- Single drum roller
- 3-5 Tonne
- 5-8 Tonne
- 8-12 Tonne
- 12-15 Tonne
- Pneumatic roller
- Heavy tandem roller
- Light compaction machines
- Hand operated machines
- Rammer
- Vibratory plates (forward)
- Vibratory plates ( reverse)
- Walk behind roller
- Light tandem roller
- < 1.8 Tonne
- 8-3 Tonne
- 3-5 Tonne
- Trench roller
- Hand operated machines
On the Basis of Application:
- Foundation
- Airport
- Road
- Other
Regions and Countries Covered
- North America: (US, Canada, Mexico, Rest of North America)
- Europe: (Germany, France, Italy, Spain, UK, Nordic Countries, Benelux Union, Rest of Europe)
- Asia-Pacific: (Japan, China, India, Australia, South Korea, Southeast Asia, Rest of Asia-Pacific)
- The Middle East & Africa: (Saudi Arabia, UAE, Egypt, South Africa, Rest of the Middle East & Africa)
- Latin America: (Brazil, Argentina, Rest of Latin America)
- Rest Of the World
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