The growing urbanization, with significant investments in the construction of smart cities and infrastructure development and rebuilding across the globe, is one of the significant factors driving the piling machines market.
According to our latest study on "Global Piling Machines Market Analysis to 2031 – Regional Analysis – by Product, Method, and Geography," the market was valued at US$ 7,444.88 million in 2023 and is projected to reach US$ 11,199.80 million by 2031; it is anticipated to record a CAGR of 5.2% from 2023 to 2031. The report includes growth prospects owing to the current global piling machines market trends and their foreseeable impact during the forecast period.
The construction industry is continuously growing due to an increase in low-to-medium-priced residential housing projects, commercial infrastructure, and government-backed infrastructure initiatives, including roads, bridges, and highways. As the construction industry develops and evolves, the requirement for construction equipment and machines becomes essential. There is an increase in various types of infrastructural development projects, such as residential buildings, commercial complexes, and industrial facilities. Each project needs various kinds of machines for construction, repair, maintenance, and renovation. Rapid urbanization and population outbursts drive the necessity for new housing, commercial spaces, and infrastructure. For instance, in March 2023, the Canadian Kelowna City Council stated authorization for funding of US$ 90 million for the expansion project of the Kelowna Airport terminal.
Global Piling Machines Market Share — by Region, 2023
Piling Machines Market Size and Forecast (2021 - 2031), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Product (Impact Hammer, Piling Rigs, Vibratory Drivers, and Others), Method (Vibro Piling, Drilling, and Driven Piling), Drilling [Kelly, Continuous Flight Augur, Full Displacement Piles (FDP), Micropiles, and Others], and Geography
Piling Machines Market Dynamics and Analysis by 2031
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Source: The Insight Partners Analysis
The global piling machines market is segmented into product and method. Based on product, the piling machines market is segmented into impact hammers, piling rigs, vibratory drivers, and others. In terms of method, the market is categorized into vibro piling, drilling, and driven piling.
The scope of the global piling machines market report covers North America, Europe, South America, Asia Pacific, Middle East and Africa, and South America. The North America piling machines market is segmented into the US, Canada, and Mexico. Factors such as the rise in demand for infrastructure development, an increase in the need for renovation and repair work, and rapid urbanization influence the piling machines market. The development in the construction sector is one of the prime reasons for the growth of the piling machines market in North America.
In October 2023, the governments of Canada and British Columbia financed more than US$ 10 million for three new water and wastewater facilities in Canada to provide purified and more consistent municipal services. The rising investment in the municipalities of Fraser Lake, Burns Lake, and the District of Mackenzie in Canada is anticipated to drive the growth of the construction sector, propelling the piling machines market growth.
Asia Pacific's construction and infrastructure sector is experiencing robust expansion and development initiatives, boosted by the region's surging economic growth and increasing population. Key infrastructure developments include a growing number of railway stations, commercial spaces, buildings, residential housings, airports, and water treatment facilities. High-speed rail projects are at the foreground of transportation infrastructure. Japan's Chuo Shinkansen, China's high-speed rail network expansion, and Australia's Sydney to Melbourne link are a few of the major construction projects positively impacting the piling machines market.
The Government of New Zealand is emphasizing developing infrastructure networks such as water and wastewater systems, road and rail networks, electricity transmission, and telecommunication infrastructure. Growing population and increasing urbanization are boosting the need to expand and upgrade important infrastructure facilities in the country. In 2023, the government offered ~US$ 47 billion for infrastructure development in the coming five years. The growing focus on infrastructure development is anticipated to propel the growth of construction activities and the application of piling machines across the country in the coming years.
The piling machines market is segmented based on product and industry. Based on product, the piling machines market is segmented into impact hammers, piling rigs, vibratory drivers, and others. In terms of method, the market is bifurcated into vibro piling, drilling, and driven piling. Geographically, the market is segmented into North America, Europe, the Middle East & Africa, and South America.
The top companies operating in the field of piling machines include Liebherr-Werk Nenzing GmbH, Junttan Oy, Bauer AG, Soilmec SpA, Casagrande SpA, Comacchio SpA, Mait SpA, ABI Equipment Ltd, Enteco Srl, IMT Srl, Sany Heavy Industry Co Ltd, CONSTRUCCIONES MECANICAS LLAMADA SL, BSP TEX Ltd, BRUCE Piling Equipment Co Ltd, American Piledriving Equipment Inc, Terra Infrastructure GmbH, International Construction Equipment Inc, FAYAT GROUP, XCMG Construction Machinery Co Ltd, and TWF Baumaschinentechnik GmbH. These companies adopt strategies such as new and innovative product launches, joint ventures, and geographical expansion to stay competitive in the market. Various other companies are also operating in the market. They are coming up with new technologies and offerings that are helping the market for smart water meters to expand over the years in terms of volume as well as revenue.
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