Rising awareness towards energy generation from unconventional sources including solar and wind in place of furnace oil and natural gas is expected to promote the installation of PV panels and new wind power stations. Companies are striving towards manufacturing application specific products. For instance, in June 2012, Vermeer introduced a new pile driver under the brand name, PD 10, which utilizes an inclinometer with laser controlled post-depth control feature for ensuring every post installed with exact specific configurations.
The government of Germany amended the Renewable Energy Sources Act in August 2014, which is expected to result in increasing installation of wind turbines and solar panels on a domestic level. The abovementioned developments taking place in the power generation sector through wind and solar are expected to promote the foundation works and thus likely to upscale the requirement of piling equipment over the next eight years.
In September 2015, the government of India announced an investment of USD 500 million for the development of a new capital at Amravati of Seemandhra State. This government initiative is expected to promote infrastructure development on a domestic level and thus likely to promote the foundation works. Furthermore, the government of Malaysia announced the “Construction Industry Transformation Programme (CITP) Program” in September 2015, which is intended for enhancing the output of the construction sector. These government initiatives are expected to open new markets for pile driving equipment in the near future.
Over the past few years, the construction companies have been increasingly using auger-based pile systems in light of their ability to bore ground strata at faster speeds as compared to impact driven equipment. Numerous piling machine manufacturers are catering to this future demand and producing products accordingly. For instance, in April 2013, ABI introduced a new MOBILRAM system TM17 and Delmag drill rig RH24. The industry participants are expected to focus on the development of piling rigs in light of their ability to perform multi-purpose functions including screw boring, drilling as well as grouting.
Improving housing sector in developed countries including the U.S., and Canada on account of increasing expenditure by real estate vendors for new residential complexes with banking funding is expected to have a substantial impact. Shifting inclination of governments of Middle East countries including Saudi Arabia from upstream oil & gas sector to the infrastructure development is expected to open new avenues over the forecast period.
In-depth report on global piling machine market by Grand View Research: