Pune, Sept. 26, 2024 (GLOBE NEWSWIRE) -- Piling Machine Market Size & Growth Analysis:
“As per the SNS Insider Research, The Piling Machine Market size was valued at US$ 5.31 Billion in 2023 and is expected to grow to US$ 7.48 Billion by 2032, achieving a CAGR of 3.89% over the forecast period from 2024 to 2032.”
Expanding Infrastructure and Renewable Energy: Key Growth Drivers in the Piling Machine Market
The market is experiencing significant growth, driven by the rapid expansion of infrastructure projects, renewable energy installations, and industrial construction worldwide. One of the primary drivers is the surge in renewable energy projects, particularly in wind energy. According to the International Trade Administration (ITA), global renewable capacity is expected to increase by 107 gigawatts (GW) in 2023, supported by policies promoting clean energy and rising energy security concerns. The demand for piling machines in renewable projects, especially offshore wind farms, is rising as these machines are essential for building the robust foundations required for turbines. In the U.S., the construction industry plays a crucial role in the demand for piling machines. Construction spending, both residential and non-residential, grew by 3.5% year-on-year in June 2023, according to the U.S. Census Bureau. This growth is further accelerated by government initiatives like the USD 1.20 billion Bipartisan Infrastructure Bill, which allocates USD 550 billion for infrastructure spending, bolstering construction output. This surge in infrastructure development, along with efforts to revitalize semiconductor production by building new factories, is creating substantial demand for piling machines to support the foundational work in these projects. suburban infrastructure.
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Major Players Analysis Listed in this Report are:
- Atlas Copco
- Bauer AG
- BAUER-Pileco
- Beretta Alfredo SRL
- Bermingham Foundation Solutions
- BPH Equipment, Ltd.
- BSP International Foundations, Ltd.
- Casagrande Group
- Davey Kent, Inc.
- Dawson Construction Plant, Ltd.
- Delmag GmbH & Co. KG
- Geoprobe Systems
- Junttan Oy
- Liebherr Group
- Soilmec S.p.A.
- Comacchio Srl
- Hitachi Construction Machinery Co., Ltd.: (Piling rigs, Rotary drilling machines)
- Sany Group Co., Ltd.
- XCMG Group
- Fayat Group & Other Players
Piling Machine Market Report Scope:
| Report Attributes | Details |
| Market Size in 2023 | USD 5.31 Billion |
| Market Size by 2032 | USD 7.48 Billion |
| CAGR | CAGR of 3.89% From 2024 to 2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Data | 2020-2022 |
| Key Regional Coverage | North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia, Rest of Latin America) |
| Key Growth Drivers | • Rapid urbanization and large-scale infrastructure projects worldwide, especially in developing economies, are driving increased demand for advanced piling machines to support complex construction needs. |
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Segmentation Analysis: Piling Rigs Leading the Charge in Market Share
By Product: The piling rigs segment led the market and accounted for 41.1% of the global piling machine market in 2023. This segment is expected to grow at a significant CAGR over the forecast period. Piling rigs are specialized machines designed specifically for driving piles into the ground. These rigs are equipped with the necessary machinery and mechanisms for drilling, driving, or boring piles into the ground, playing a crucial role in enhancing the load-bearing capacity of structures such as buildings, marine and offshore constructions, and other infrastructure projects.
By Method: The impact-driven piling segment held the predominant revenue share of 30.2% in 2023. This approach employs impact force to achieve piling at varying depths, generating the requisite impact force using a hydraulic hammer. The piles employed in this method are composed of materials such as steel, precast concrete, and timber, with options for deployment as single lengths or spliced for exceptionally deep piles. Typically powered by hydraulic energy, the impact-driven piling method excels in transferring greater compressive forces, allowing for easy adjustment of the stroke and blow rate of the piles to optimize pile driving under diverse conditions.
Piling Machine Market Key Segmentation:
By Product
- Impact Hammer
- Vibratory Drivers
- Piling Rigs
- Others
By Method
- Impact Driven
- Drilled Percussive
- Rotary Bored
- Air-lift RCD Rig
- Auger Boring
- Continuous Flight Auger
- Others
Regional Analysis: Asia Pacific Led the Piling Machine Market Growth, Government Investments and Urbanization Drive Demand in Key Regions
Asia Pacific: The Asia Pacific region dominated the market share, holding over 42.06% in 2023. The economies in this region are anticipated to flourish over the forecast period due to massive investments by governments in public infrastructure development and the expansion of the residential construction industry. Countries like China and India are leading this growth, driven by urbanization and infrastructure initiatives. Additionally, companies such as China State Construction Engineering Corporation and Larsen & Toubro are at the forefront of implementing advanced piling solutions to support extensive construction projects.
Europe: The European market accounted for the second-largest market share in 2023. The growth of the market in Europe is expected to be significantly driven by its flourishing residential sector, influenced by an increasing immigration rate in the region. Surging investments in civil engineering structures are anticipated to heighten the demand for piling machines over the forecast period.
Recent Developments
In January 2023: Junttan Oy has acquired Junttan UK. Junttan UK is based in Newark, UK, and has been Junttan’s authorized distributor since 1996. By combining the resources and expertise of the two companies, the company will have a strong team with high expertise and will further develop our local operations to meet Junttan customers’ needs.
In June 2023: Epiroc AB introduced its flagship construction drill rig SmartROC T25 R in June 2023, a smart rig for smarter operations. Moreover, the rig has various significant characteristics, such as a large coverage area, great trainability, application diversity, and a smart Rig Control System that reduces the rig's environmental impact.
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Key Takeaways
- The report provides an in-depth understanding of the Piling Machine Market, enabling companies to comprehend principal motivations and industry dynamics.
- It covers recent developments, market size data, and offers a clear assessment of the overall market, including segment data, market share, and growth trends.
- The analysis identifies technological innovations and preliminary trends that could provide a competitive edge in the piling machine sector.
- The report offers insights into global data regarding transport infrastructure related to piling machines and its trends.
Table of Contents – Major Key Points
1. Introduction
2. Executive Summary
3. Research Methodology
4. Market Dynamics Impact Analysis
5. Statistical Insights and Trends Reporting
6. Competitive Landscape
7. Piling Machine Market Segmentation, By Product
8. Piling Machine Market Segmentation, By Method
9. Regional Analysis
10. Company Profiles
11. Use Cases and Best Practices
12. Conclusion
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