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The size of the pile driver market-USD 5.22 billion in 2020, the market growth-a compound annual growth rate of 4.4%, and the market trend-rapid urbanization and the growth of the construction industry.
New York City, New York, USA, November 12, 2021/EINPresswire.com/-According to a new report from Reports and Data, the global pile driver market is expected to reach 7.36 billion U.S. dollars by 2028. The rise of mining activities and construction in emerging countries such as India and China is driving market growth. The growing demand for basic machinery for such operations has promoted the development of the pile driver market.
Government regulations aimed at increasing energy output through unconventional sources such as solar and wind energy are expected to increase the demand for foundation work, thereby increasing the demand for piling machinery. In addition, governments around the world are trying to use wind energy to increase production. This will increase the demand for wind turbines and their installation. Therefore, the demand for pile drivers has increased.
However, the demand for skilled labor to operate these heavy machinery will be the main challenge for expansion.
The Asia-Pacific region is expected to dominate the market. Increased construction in developing countries such as India and China is driving market growth. Due to the abundance of minerals such as gold and copper, the expansion of the mining industry in emerging countries is expected to promote market growth.
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Major participants include Casagrande Spa, Watson, Inc., BSP International Foundations, Ltd., BAUER-Pileco, Tescar, Sinovo, International Construction Equipment, Inc. (ICE), Delmag GmbH & Co. KG, Kencho Kobe Co., Ltd. .. , Vulcan Foundation Equipment, Bermingham Foundation Solutions, Atlas Copco, etc.
For the purpose of this report, the report and data segment the global pile driver market based on products, methods, applications and regions:
Product Prospects Pile Drivers Vibration Screwdriver Impact Hammer Diesel Hammer Hydraulic Hammer Hydraulic Pressing Others
Method Outlook Rotary Bored Pile Driving Gas Lift Reverse Circulation Drilling (RCD) Impact Driven Pile Driving Auger Continuous Flying Auger (CFA) Other Pile Driving Methods
Application prospectsCivil engineering Residential and commercial constructionIndustrial constructionRailroad oil and gas
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The further main findings of the report indicate
The construction of bridges, railways, buildings and other types of infrastructure requires machines that can go deep underground.
According to the method, the market is divided into drilling percussion piling, rotary drilling piling, gas lift reverse circulation drilling (RCD), impact driven piling, auger drilling, continuous flight auger (CFA) and other piling methods.
Pile drivers are mainly used in construction. In 2020, the market share of the residential and commercial construction sector is 19%.
Railway expansion and subway track system projects in various network countries such as India, China, UAE, and Saudi Arabia are expected to increase the demand for pile drivers.
The Asia-Pacific region will dominate the market in 2028, with an estimated market share of 26%. The increase in development and modernization is increasing the demand for pile drivers in emerging countries.
Favorable government policies are expected to boost the pile driver market in countries such as India and China. It is estimated that by 2028, MEA's market share will reach 19%.
It is estimated that by 2028, hydraulic hammers will occupy 17% of the market share. They are more powerful than any other hand-held hammers and are usually used to demolish and break rocks into smaller sizes.
The continuous flight auger (CFA) has an annual growth rate of 5.2% throughout the forecast period. Strict government regulations on vibration and noise in urban areas are expected to increase the growth of the pile driver market.
Throughout the forecast period, gas lift reverse circulation drilling (RCD) is expected to grow at a share of 5.3%.
Oil and natural gas will dominate the market with a 23% share in 2020, with an annual growth rate of 5.0%. Drilling is an important part of the oil and gas industry, and the increase in excavation and research and development has increased the demand for pile drivers.
Regional outlook (revenue, billion US dollars; 2020-2028) North America Europe Asia Pacific MEA Latin America
Research Method-Pile Driver Market
The research methodology used by analysts in preparing the pile driver market report is based on detailed primary and secondary research. With in-depth insights into industry-related information obtained and legalized by the market's acceptable resources, analysts provide fascinating observations and true predictions on the pile driver market.
In the preliminary research phase, analysts interviewed industry stakeholders, investors, brand managers, vice presidents, and sales and marketing managers. Analysts emphasized the changes in the pile driver market based on data obtained by interviews with genuine resources.
In the second investigation, the analysts consulted numerous annual reports and publications, white papers, import and export data of major countries in the world, industrial production indexes, industry association publications, company websites, etc., to gain a necessary understanding of the pile driver market.
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