The Excavation And Demolition by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
Learn More On The Excavation And Demolition Market:
https://www.thebusinessresearchcompany.com/report/excavation-and-demolition-global-market-reportAccording to The Business Research Company’s Excavation And Demolition, The excavation and demolition market size has grown steadily in recent years. It will grow from $480.78 billion in 2023 to $491.81 billion in 2024 at a compound annual growth rate (CAGR) of 2.3%. The growth in the historic period can be attributed to construction industry growth, urban development, infrastructure projects, renovation and redevelopment, environmental compliance..
The excavation and demolition market size is expected to see steady growth in the next few years. It will grow to $551.33 billion in 2028 at a compound annual growth rate (CAGR) of 2.9%. The growth in the forecast period can be attributed to sustainable practices, smart city initiatives, brownfield redevelopment, infrastructure renewal, public-private partnerships.. Major trends in the forecast period include remote operation and telematics, selective demolition techniques, innovations in excavation equipment, urban mining, digital twin technology..
The expanding government infrastructure projects are driving the excavation and demolition market going forward. Infrastructure development refers to the process of building and enhancing basic services, such as energy and transportation networks. The governments are launching and increasing infrastructure projects to improve their domestic infrastructure. Excavation is the basic step in the construction of all buildings and hence it is widely used in infrastructure development projects. For instance, in November 2022, the U.S. Department of Transportation (USDOT) which is responsible for planning and coordinating federal transportation projects and the Federal Highway Administration (FHWA) which specializes in highway transportation, invested $120 billion in Federal Highway projects and $20.4 billion in the development of public transport. Additionally, the U.S. Department of Transportation (USDOT) and Federal Highway Administration (FHWA) invested $3 billion in the development of airports and $3.9 billion in developing ports and waterways. Therefore, the increasing government infrastructure development projects drive the excavation and demolition market.
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The excavation and demolition market covered in this report is segmented –
1) By Type: Building Construction, Heavy And Civil Engineering Construction, Specialty Trade Contractors, Land Planning And Development
2) By Equipment Type: Earthmoving Equipment, Material Handling Equipment, Heavy Construction Vehicles, Other Equipment
3) By End-User: Housing, Healthcare, Industrial, Infrastructure, Commercial, Educational
Technological advancements are a key trend gaining popularity in the excavation and demolition market. Major companies in the market are introducing new technologies to sustain their position in the market. For instance, in August 2022, Rod Radar, an Israel-based developer of technologies related to construction, launched Live Dig Radar technology. This is the first ever ground penetrating radar (GPR) integrated with an excavator digging bucket. By detecting any form of underground utility during earthwork at any depth in real time, Live Dig Radar technology overcomes the limitations of current technologies. Any excavator with a standard attachment mechanism can accommodate the bucket. The LDR Excavate reliably detects targets close to the bucket while trenching and on the surface. It does this by creating a new scan with each pass in various soils and substrate types, warning the operator of potential dangers without the need for specialized analysis.
Major Players:
- VINCI SA
- Actividades de Construcción y Servicios S.A
- Bechtel Group Inc.
- Hochtief AG
- Skanska AB
The excavation and demolition market report table of contents includes:
1. Executive Summary
2. Market Characteristics
3. Market Trends And Strategies
4. Impact Of COVID-19
5. Market Size And Growth
6. Segmentation
7. Regional And Country Analysis
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27. Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
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