Rockville, MD, Oct. 14, 2024 (GLOBE NEWSWIRE) -- The global soil compaction machines market stands at US$ 5.4 billion in 2023 and is projected to reach US$ 10.6 billion by the end of 2033. As per this study by Fact.MR, a market research and competitive intelligence provider, Asia Pacific is estimated to account for a significant share of the global market by the end of the study period (2023 to 2033).
Rising demand for soil compaction machines can be attributed to several prospects such as a growing world population, increasing investments in infrastructure development, and rapid industrialization around the world. Advancements in equipment technology are resulting in the development of more efficient and effective heavy construction equipment, which in turn, is creating an opportune scenario for soil compaction machine sales going forward.
Soil compaction machine manufacturers are continually innovating and launching new products that allow them to maximize their sales and revenue generation potential to stay competitive in the global landscape.
- In 2022, Ammann Group, a renowned Swiss supplier of construction equipment, announced the launch of two new roller machines with good compacting capabilities. Both ARS 30 and ARS 50 were single drum rollers designed to deliver high compaction.
For More Insights into the Market, Request a Sample of this Report: https://www.factmr.com/connectus/sample?flag=S&rep_id=1978
Key Takeaways from Market Study
- The global soil compaction machines market stands at a valuation of US$ 5.4 billion in 2023.
- Demand for soil compaction machines is projected to expand at a CAGR of 8% from 2023 to 2033.
- Soil compaction machine sales are forecasted to reach US$ 10.6 billion by the end of 2033.
- Increasing investments in infrastructure development activity, high demand for affordable housing, launch of new construction projects, rapid industrialization and urbanization, and launch of new soil compaction machines are key market drivers.
- Soil compaction machine sales in Asia Pacific account for around 25% revenue share of the global market in 2023.
- Sales of soil compaction machines in China are projected to increase at 5% CAGR over the next ten years.
- Heavy soil compaction equipment accounts for more than 70% of the global market revenue at present.
“India, China, Kingdom of Saudi Arabia, and the United Arab Emirates are estimated to offer highly lucrative growth opportunities,” says a Fact.MR analyst
Leading Players Driving Innovation in the Soil Compaction Machines Market
Key Players in the soil compaction machines market are Caterpillar Inc., Volvo Construction Equipment, J.C. Bamford Excavators Limited, John Deere, Zoomlion Heavy Industries Science & Technology Co. Ltd., XCMG Co. Ltd., Sany Heavy Industries Co. Ltd., Fayat Group, Hitachi Construction Machinery, Wacker Neuson SE.
Get Customization on this Report for Specific Research Solutions:
https://www.factmr.com/connectus/sample?flag=S&rep_id=1978
Soil Compaction Machines Industry News:
- Dynapac, a Swedish international engineering company, displayed its newest dirt compaction at the American Rental Association (ARA) Show in February 2023. With its 84-inch drum, the CA30 Rhina soil compactor can compact a variety of soil types, making it a multipurpose tool for a wide range of uses.
- To better serve its customers' diverse needs and maximize the performance of its soil compactors, Volvo Construction Equipment (Volvo CE) announced in March 2023 the introduction of new Compact Assist packages.
- The debut of a new sophisticated and intelligent CCC (continuous compaction control) system for asphalt and soil compactors was announced in June 2022 by Ammann, a well-known international corporation from Switzerland that is recognized for its intelligent soil compaction.
- The well-known construction equipment manufacturer Bobcat Company announced the introduction of new compaction machines in November 2022, marking its entry into the light compaction market. The company introduced nine machines designed for use in construction, roadwork, and landscaping, marking its entry into the light soil compaction market.
Winning Strategy
Development of soil compaction machines with advanced compaction capabilities is the prime focus of all soil compaction machine suppliers. Companies should also experiment with the automation of soil compaction equipment as the popularity of industrial automation increases around the world.
More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global soil compaction machines market, presenting historical demand data (2018 to 2022) and forecast statistics for the period (2023 to 2033).
The study divulges essential insights on the market based on product type (heavy compaction machines, light compaction machines) and application (building & construction, infrastructure, transport, others), across five major regions of the world (North America, Europe, Asia Pacific, Latin America, and MEA).
Check out More Related Studies Published by Fact.MR:
Agriculture Drone Market: Size is estimated at US$ 4.98 billion in 2024 and is evaluated to increase at a CAGR of 14.1% to reach US$ 18.64 billion by the end of 2034.
Blow Moulding Machine Market: Size was valued at US$ 2,443.4 million in 2023 and has been forecasted to expand at a noteworthy CAGR of 3.7% to end up at US$ 3,604.0 Million by 2034.
Land Survey Equipment System Market: Size is expected to reach a valuation of US$ 8,523.2 million in 2024 and is projected to climb to US$ 13,363.4 million by 2034, expanding at a CAGR of 4.6% during the forecast period of 2024 to 2034.
Portable Inverter Generator Market: Size was valued at US$ 3,404.1 million in 2023 and has been forecasted to expand at a noteworthy CAGR of 9.4% to end up at US$ 8,959.8 Million by 2034. The portable inverter generator market accounts for around 19% in overall generator market.
Hydraulic Hammer Market: Size is estimated to reach a value of US$ 1.49 billion in 2024 and is further projected to touch a valuation of US$ 2.64 billion by the end of 2034. Demand is evaluated to expand at a CAGR of 5.9% throughout the projection period (2024 to 2034).
Gasket and Seal Market: Size is estimated to be around US$ 86,936.1 million in 2024. Gasket and seal sales are projected to increase at a CAGR of 2.3%, reaching over US$ 109,133.1 million by 2034.
About Us:
Fact.MR is a distinguished market research company renowned for its comprehensive market reports and invaluable business insights. As a prominent player in business intelligence, we deliver deep analysis, uncovering market trends, growth paths, and competitive landscapes. Renowned for its commitment to accuracy and reliability, we empower businesses with crucial data and strategic recommendations, facilitating informed decision-making and enhancing market positioning.
With its unwavering dedication to providing reliable market intelligence, FACT.MR continues to assist companies in navigating dynamic market challenges with confidence and achieving long-term success. With a global presence and a team of experienced analysts, FACT.MR ensures its clients receive actionable insights to capitalize on emerging opportunities and stay competitive.
Contact:
11140 Rockville Pike
Suite 400
Rockville, MD 20852
United States
Tel: +1 (628) 251-1583
Sales Team: sales@factmr.com
Follow Us: LinkedIn | Twitter | Blog
