Piling Machines Market Overview and Forecast by 2031
The piling machines market size is projected to reach US$ 10442.52 million by 2031 from US$ 7,456.43 million in 2023, at a CAGR of 4.3% by 2031. The construction industry is rapidly growing in various countries across the world with a rise in government investments and an increase in demand for residential construction projects. Countries such as the US, China, and India have the most significant construction businesses in the world. According to the Associated General Contractors of America (AGC), the US construction industry creates US$ 1.4 trillion worth of structures each year. A surge in construction activities in the country is ascribed to the increasing population and the proliferating commercial sector. This surge in construction activities is surging the demand for piling machines in the country.
Piling Machines Market Analysis
Companies in the global piling machines markets focus on offering new, upgraded products to meet the evolving needs of customers. In April 2022, SANY UK launched SR235 multipurpose piling rig. With an operating weight of ~90 tons, the SR235 is powered by a Stage V Volvo engine, which contributes to its reliability and efficiency. In 2019, Soilmec S.p.A. introduced new SM drilling rigs for the foundation of micro piles and anchoring. In May 2021, the company introduced new Soilmec SM-11 medium-sized drilling rigs that have a very high nursing force. These rigs feature an appropriate combination of performance and effectiveness and provide a compact enterprise for limited-access job places. Moreover, they are easy to set for dissimilar working needs. In January 2020, Soilmec acquired a majority stake in Watson Inc., a Texas-based manufacturer of foundation rigs, as part of a more comprehensive project aimed at securing growth in foreign markets. Thus, such recent technological developments and product innovations in piling machines are likely to bring new trends in the market in the coming years.
Piling Machines Market Overview
A piling machine is a gadget for setting heaps or shafts in the ground to support compositional structures. Piling machines bore in silty dirt, sandy soil, and others. These machines are utilized for developing water tanks, extensions, structures, and establishment ventures, for example, establishment fortification, stomach dividers, and others. A heaping rig is a development machine for heaping in an established building. It is primarily applied to bore in sandy soil, mud, silty earth, and others. It is generally utilized to set up heaps, stomach dividers, establishment fortification, and other establishment ventures. In addition, it is critical to consider the position and arrangement satisfactorily, as vital air would either harm or dislodge the machine from its unique position.
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Piling Machines Market: Strategic Insights
Market Size Value in US$ 7.17 billion in 2022 Market Size Value by US$ 9.52 billion by 2028 Growth rate CAGR of 4.8% from 2022 to 2028 Forecast Period 2022-2028 Base Year 2022
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Piling Machines Market: Strategic Insights
| Market Size Value in | US$ 7.17 billion in 2022 |
| Market Size Value by | US$ 9.52 billion by 2028 |
| Growth rate | CAGR of 4.8% from 2022 to 2028 |
| Forecast Period | 2022-2028 |
| Base Year | 2022 |
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Piling Machines Market Drivers and Opportunities
Rise in Renovation and Remodelling Activities
Renovation involves the reconstruction of infrastructural facilities with modern and advanced construction materials to upgrade structural properties and improve the life span of buildings, alongside ensuring a minimal environmental impact. Rapid urbanization and industrialization have propelled the demand for better residential and commercial facilities. According to the World Economic Forum, the global urban population is growing by 200,000 people every day, many of whom need affordable housing and social, transportation, and service infrastructure. Amid such challenges, the construction industry is morally obligated to transform. The International Energy Agency (IEA) has called for significant energy-efficient building renovation activities as part of its revival plan to rebuild the global economy, which is valued at ~US$ 3 trillion.
Building renovation is considered critical to meeting energy-efficiency targets in the European Union (EU). A few of the voluntary and regulatory programs or schemes intended to stimulate the renovation of buildings in the EU are Energy Conservation Obligation Schemes (EEOS), Mandatory Building Codes, and Minimum Energy Performance Standards (MEPS). Further, government organizations in emerging markets are aggressively investing and concentrating on building commercial and industrial infrastructures by taking several initiatives and promoting projects. Thus, growing renovation and development activities, driven by investments in the modernization of existing infrastructure, boost the piling machines industry. Rising remodeling and construction operations in nonresidential spaces (including hotel and resort renovations) and increasing investments in industrial construction would also drive the demand for piling machines during the forecast period.
Growing Infrastructure Advancement Activities in Emerging Economies
Argentina, Brazil, China, India, Indonesia, Mexico, Poland, South Africa, South Korea, Turkey, Egypt, Iran, Nigeria, Pakistan, Russia, Saudi Arabia, Taiwan, and Thailand are the notable emerging economies implementing major construction and infrastructure activities. In Argentina, the Riachuelo water system, Salado River waterworks, stage IV, National route 7 Lujan-Junín stretch, National route 9, and San Miguel de Tucumán-Santiago del Estero stretch are a few of the major infrastructure projects. Governments of China and India are also taking various initiatives to strengthen their construction and infrastructure industries. Various active projects in China include Hong Kong-Zhuhai-Macau Bridge, Shanghai Tower, Beijing Subway Metro Network, the Giant Wind Turbines, and Super LNG Tanker. In Europe, Evora Public Central Hospital, Edge East Side Tower, Baltic Offshore Pipeline, Flamanville 3, and Crossrail are among the ongoing construction projects, which are contributing to the demand for piling machines. Such infrastructure and construction initiatives taken by the governments of various emerging economies worldwide provide lucrative growth opportunities to the piling machines market.
Piling Machines Market Report Segmentation Analysis
Key segments that contributed to the derivation of the piling machines market analysis are product and method.
- Based on product, the piling machines market has been segmented into impact hammer, piling rigs, vibratory drivers, and others. The piling rigs segment accounted for the largest market share in 2023.
- Based on method, the piling machines has been segmented into vibro piling, drilling, driven piling. The drilling segment held a larger market share in 2023.
Piling Machines Market Share Analysis by Geography
The global piling machines market is broadly segmented into North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA), and South America (SAM). The piling machines market in North America is segmented into the US, Canada, and Mexico. The North America piling machines market growth is attributed to the increasing construction activities and the rising residential and commercial building projects in the region. Increasing population and growing real estate industry have increased the use of piling machines for drilling platforms and constructing structures. Additionally, increasing residential construction projects in the region further contribute to the market's growth. According to the US Census Bureau, ~1,392,300 housing units were completed in 2022, which is 3.8% greater than the 2021 figure of 1,341,000 housing units.
Moreover, increasing support from the governments of countries in North America for advanced infrastructural setup and rising investment in the construction sector are driving the piling machines market. For instance, according to the USAFacts, ~41% of federal transportation and infrastructure spending was on highway transportation, and 19% was for rail and mass transit in 2021. Further, the increasing construction of industrial projects such as power transmission plants, wind farms, solar power plants, and manufacturing plants is surging the use of piling machines.
Piling Machines Market Report Scope
Piling Machines Market News and Recent Developments
The piling machines market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. The following is a list of developments in the market for innovations, business expansion, and strategies:
- 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. (Source: Junttan Oy, Press Release)
- In October 2022, Liebherr reveals the latest generation of duty cycle crawler cranes with the brand-new HS 8070.1. The machine has a lifting capacity of 70 tonnes and is the first choice for a multitude of applications: material handling, deep foundation or lifting work. Using the new jack-up system, the crawlers can be easily disassembled for transportation, so reducing the transport weight to less than 35 tonnes. The platforms and railings must no longer be removed before transportation. (Source: Liebherr, Press Release)
Piling Machines Market Report Coverage and Deliverables
The “Piling Machines Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering the following areas:
- Piling machines market size and forecast at global, regional, and country levels for all the key market segments covered under the scope.
- Market dynamics such as drivers, restraints, and key opportunities
- Piling machines market trends
- Detailed PEST/Porter’s Five Forces and SWOT analysis
- Piling machines market analysis covering key market trends, Global and regional framework, major players, regulations, and recent market developments
- Piling machines market landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments.
- Detailed company profiles
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Product, Method
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Australia, Belgium, Brazil, Canada, China, Denmark, Finland, France, Germany, India, Italy, Japan, Mexico, Netherlands, Norway, Russian Federation, Saudi Arabia, South Africa, South Korea, Sweden, United Arab Emirates, United Kingdom, United States
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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