The global piling machine market size was valued at USD 5.08 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 3.6% from 2021 to 2028. Increasing urbanization in emerging countries, such as India, China, Brazil, and Mexico, is anticipated to augment the growth of the construction industry and fuel piling machine demand over the forecast period. The rising concerns over the effects of vibrations on the marine environment during piling operations have resulted in the enforcement of stringent regulatory norms in the U.K., Germany, the U.S., and New Zealand for the protection of the aquatic ecosystem. This is expected to result in the increasing demand for piling machines with lower vibrations.
With the advent of rapid industrialization and modernization in operational processes, digital technologies play a crucial role. The companies are more inclined to offer digitally advanced solutions, such as remote master controllers, to the customers to gain a competitive edge in the market. Strategic partnerships among piling machine manufacturers, such as Bauer AG, for the development of machines with reduced noise levels and low vibrations are expected to favorably impact the market growth over the forecast period.
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Public construction witnessed the minimal short-term impact of the COVID-19 pandemic on account of the ongoing activities to a certain extent. The construction companies have been executing their contracts, however, the disruption of supply chains has resulted in the shortage of construction materials and equipment, causing delays or cancellations of the ongoing projects and lower budgets for future projects.
Key Player Mentioned:
- Casagrande S.p.a
- Watson Inc.
- BSP International Foundations
- BAUER Group
- TONTI TRADING S.R.L.
- Beijing SINOVO International (SINOVO Heavy Industry Co., Ltd.)
Product Segment Analysis:
- Impact Hammer
- Vibratory Drivers
- Piling Rigs
- Others
Regional Segment Analysis: North America, Europe, Asia Pacific, Latin America, and Mideast and Africa.
In October 2014, the European Commission proposed a minimum 27% renewable energy target by 2030 and a 40% reduction of greenhouse gasses as it was in 1990. New product launches by Siemens and Suzlon, along with the target offered by the European Commission to enhance renewable energy output, are expected to increase the installation of wind farms. This, in turn, is expected to augment the growth of the market over the forecast period.
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The development of privately-owned construction firms in the UAE, India, and China is anticipated to augment the spending in the construction industry over the forecast period. According to the Global Construction 2030 report, the global construction industry is estimated to reach USD 15.5 trillion by 2030, with China, India, and the U.S. contributing to over 57% of the overall growth. An increase in construction activities is expected to augment product demand over the coming years.
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