The global Piling Machine Market size is expected to reach USD 6.72 billion by 2028, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 3.6% from 2021 to 2028. The development of privately-owned construction firms in the UAE, India, and China is anticipated to augment the spending in the construction industry, thereby surging the product demand over the coming years.
Rising
concerns over the adverse effects of underwater piling operations on marine
life are foreseen to result in a negative impact on the demand for vibratory
driver piling machines over the forecast period. The implementation of
stringent noise and vibration control norms in residential areas and offshore
locations is expected to result in high R&D spending for the development of
low-noise and vibration machines, which is expected to positively impact the
market growth.
Favorable
government incentives for the deployment of alternative energy sources in the
U.S. have resulted in the increasing installation of solar farms. The rising
popularity of using self-propelled pile drivers for installing foundations for
solar panels is expected to fuel the demand for other piling machines, mainly
driverless piling machines.
Rising
concerns regarding the effects of vibrations on the marine environment during
piling operations have resulted in the enforcement of stringent regulatory
norms in the U.K., Germany, the U.S., and New Zealand for the protection of the
aquatic ecosystem. This is expected to result in the increasing demand for
systems with lower vibrations.
Related Press
Release@ Piling
Machine Market Report
Piling Machine Market Report Highlights
- By product,
impact hammer accounted for 29.71% share of the global revenue in 2020 on
account of its easy operations and low price compared to other systems
- Based on
piling method, the drilled percussive segment is estimated to expand at a
CAGR of 3.4% from 2021 to 2028 on account of its inexpensiveness and
reliability for drilling holes for pile installations
- China
accounted for the largest share in Asia Pacific in 2020 owing to the
increasing need for residential and commercial buildings, such as
industrial facilities, complexes, hospitals, hotels and restaurants, and
retail spaces, to cater to the growing population
- The market
in Canada is estimated to expand at a CAGR of 2.5% from 2021 to 2028 on
account of its transition from a natural resources-based economy to a
high-tech, service-based economy
- Strategies
adopted by market participants include distribution network expansion, new
product developments, mergers & acquisitions, and partnerships in
order to gain a competitive edge in the market
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415- 349-0058
Toll Free: 1-888- 202-9519
Email: sales@grandviewresearch.com
For More Information: https://www.grandviewresearch.com
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