The global piling machine market size was USD 4.39 billion in 2015 and is projected to witness significant growth over the forecast period owing to rapid infrastructural development across commercial and residential sectors. Increasing industrialization and rising consumption of metals and minerals in emerging economies including India, China, and the Middle East have resulted in expanding mining activities. Growing requirement of foundation equipment in mining operations is expected to have a positive impact on the market over the next eight years.
Regulatory inclination towards increasing energy output through unconventional sources including solar and the wind is projected to promote their foundation work, which in turn will fuel the product demand over the forecast period. However, the requirement of a skilled workforce to operate equipment will be a major challenge for the market growth.
U.S. piling machine market revenue, by product, 2013 - 2024 (USD Million)
The high cost associated with buying new piling machines on account of increasing cost related to consumables including engines and heavy-duty hydraulic systems is expected to force buyers to prefer rental equipment. Furthermore, rising tooling cost in light of recommendations by OEMs to use specialized tools and relevant lubrication oils is likely to remain a concerning factor for industry participants.
Growing focus of numerous governments including the U.S. and Germany to increase energy output through wind sources is expected to increase the installation of turbines. As a result, the growth of the wind power sector will create immense market potential over the next eight years.
Piling rigs were the most extensively used product and accounted for 39.7% of the overall industry share in 2015 and will show high gains owing to its ability to perform multi-purpose functions including drilling and grouting and auger and screw boring. Expansion of railways network in various countries including China, India, UAE and Saudi Arabia in light of new establishments of metro rail systems is expected to increase usage of multi-functional piling machines, which in turn will augment industry expansion over the upcoming years.
Impact hammers market was valued at USD 1.3 billion in 2015 and were the second largest segment. Lower cost as compared to other products along with their ease of incorporation in foundation industry is expected to propel its demand over the forecast period. Vibratory drivers were a prominent segment and is projected to witness a decrease in its share by 2024 on account of stringent regulations aimed at restricting the application scope of construction equipment causing high noises.
The impact driven method was valued at USD 1.31 billion in 2015 and is projected to witness growth as a result of its low-cost and efficient pile installations at sites with firm soil. Impact-driven is done with the help of a hydraulic system, compressor, diesel or manual impact hammer machine.
Rising usage in full displacement piling and construction of foundations of tall buildings will promote industry expansion. Increasing construction of high-rise buildings is expected to augment market growth over the forecast period. Growing popularity of new methods such as reverse circulation drilling and rotary boring is foreseen to be a major hindrance for the industry.
The increasing use of screw tools for undergoing boring is expected to be a favorable factor for growth. Continuous flight auger (CFA) piling will show fastest growth over the forecast period at a CAGR of 6.5% in light of providing fewer vibrations.
Asia Pacific dominated the global market contributing to 41.1% of the revenues generated in 2015. Construction sector growth in China, Thailand, Singapore, and India in light of increasing government spending along with favorable policies towards infrastructure development will open new avenues for growth over the upcoming years.
Growing importance of unconventional energy sources including solar and the wind for power generation on account of regulatory support in India, Japan, and China is expected to promote their foundation work, which in turn will propel industry growth over the forecast period.
Housing sector growth in the U.S. post the recession in 2008-09 is expected to be a favorable factor for the product demand. Technological advancement in hydraulic fracturing to produce shale gas and tight oil in the U.S. and Canada will increase the foundation works, which will augment industry expansion over the forecast period.
Key players in the global industry include Bauer AG, Soilmec, Atlas Copco, Sinomach, The Casagrande Group, Tescar, Delmag, and BSP International Foundations. The industry is highly fragmented in nature on account of the high prevalence of local manufacturers. Furthermore, the majority of local manufacturers supply products on a rental basis owing to the high operating cost of foundation equipment.
Bauer Group operates in the construction business through its subsidiaries including RTG and BAUER-Pileco. The company is headquartered in Germany and has business units located in key markets including Saudi Arabia, South Africa, and India. Bauer launched BG26 and BG30 piling rigs for the Indian market in February 2013. As of 2015, Italy-based Soilmec operated as a business subsidiary of Trevi S.p.A. The company designs, manufactures, and distributes machines used in the piling method of bridges, tunnels, underground lines, viaducts, railways, and buildings.
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