Piling Equipment And Supplies Market Pegged to Surpass CAGR of 3.7% Valuation by End of 2018-2026
The Piling Equipment and Supplies market is divided into piling equipment market and piling supplies market. Further, the global piling equipment market is classified on the basis of equipment type, application, capacity, platform and region. The global Piling Equipment market value is estimated to reach approximately US$ 1,076.6 Mn by the end of 2018. The Piling Equipment Market value is expected to register a value CAGR of 3.7% over the forecast period (2018–2026).
On the other hand, the global piling supplies market is classified on the basis of piling product and region. The Global Piling supplies market value is estimated to be approximately US$ 4,040.3 Mn by the end of 2018. The Piling supplies Market value is expected to register a value CAGR of 4.5% over the forecast period (2018–2026).
Factors Influencing Global Piling Equipment and Supplies Market Growth
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Increasing Investments in Infrastructural Projects
The global construction industry is registering steady growth due to high rate of urbanization and increasing demand for roads, rails, buildings, etc., as a result of growth in population. Governments of various economies across the globe are focusing on the development of transportation infrastructure. Therefore, initiatives of governments will boost construction projects across the globe, which will result in growth of the pile foundation work, which in turn, will fuel the demand for piling machines.
Exploration of New Mineral Deposits
Mining activities in countries, such as China, Malaysia and Indonesia, have slowed down in recent years due to stringent government regulations in these countries. This has led to increasing activities in terms of exploration, excavation and mining of minerals and metals in other regions to close the supply-demand gap for such products. This, in turn, has led to increasing demand for geotechnical and foundation equipment to access deeper mineral deposits as well as stabilize soil structure around mines. Key players in exploration and mining are increasingly focusing on countries, such as Canada, Tanzania, Zimbabwe, Australia, Mexico, India and South Africa, for mining bauxite, graphite, gold, platinum and uranium, among others. Hence, exploration activities in these countries are expected to drive demand for anchoring equipment and piling sheets over the forecast period.
Global Piling Equipment and Supplies Market Segmentation and Forecast
The global Piling Equipment market is segmented by equipment type, capacity, application, platform and region. On the basis of equipment type, the global Piling Equipment market is segmented into piling rigs, pile driving equipment and drilling rigs.
On the basis of capacity, the global Piling Equipment market is segmented into 25-40 kNm, 40-150 kNm, 150-250 kNm and above 250 kNm. On the basis of application, the global Piling Equipment market is segmented into civil engineering, construction and utilities (including renewable). On the basis of platform, the global Piling Equipment market is segmented into clay, pebble bed and rock.
On the basis of piling product, the global Piling Equipment market is segmented into pipes, structural beams, sheets and combi-wall systems.
Based on region, the global Piling Equipment and Supplies Market is segmented into North America, Europe, Latin America, South East Asia & Other Pacific (SEA), Middle East & Africa (MEA), Japan, and China.
Global Piling Equipment Market Analysis, by Equipment Type
In terms of value, pile driving equipment of the Piling Equipment segment are estimated to dominate the market with 57.8% share in 2018 end and will continue to dominate until the end of 2028. The Global Piling Equipment market is expected to touch US$ 824.2 Mn by the end of 2026.
Global Piling Supplies Market Analysis, by Piling Product
By piling product, sheets segment is estimated to dominate the Global Piling Supplies market by accounting for a value share of 50.6% by 2018 end.
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Key Players Dominating the Global Piling Equipment and Supplies Market
The report highlights and discusses some of the top companies operating in the global Piling Equipment and Supplies market, such as BAUER Maschinen GmbH, Liebherr Group, Boart Longyear Limited, Sany Group, Mait S.P.A, Casagrande S.p.A., BSP International Foundations Ltd., among others.