Persistence Market Research delivers key insights on the global piling equipment and supplies market in its latest report titled ‘Piling Equipment and Supplies Market: Global Industry Analysis 2013 – 2017 and Forecast, 2018 – 2026’. The long-term outlook of the global piling equipment and supplies market remains positive with the market value expected to increase at a CAGR of 4.3% during the forecast period (2018 – 2026).
The study of the piling equipment and supplies market has been divided into piling equipment and piling supplies. The global piling equipment market has further been classified on the basis of equipment type, application, capacity, platform and region. On the other hand, the global piling supplies market has been further classified on the basis of piling product and region.
Among all segments classified in the piling equipment market on the basis of equipment type, the piling rigs segment is expected to expand at a significant CAGR in terms of value over the forecast period. The global sales of piling equipment was valued at US$ 1,037.8 Mn by the end of 2017. South East Asia & Other Pacific (SEA) is estimated to account for a value share of 26.9% in the global piling equipment market by 2018 end and is anticipated to retain its dominance throughout the forecast period. In this report, Persistence Market Research throws light on drivers and restraints likely to impact the market during the forecast period.
Major factors driving the growth of the global piling equipment and supplies market in the present scenario include the growth in construction activities and increasing infrastructure investments across the globe. However, high prices, low replacement rate, and increasing environmental concerns are expected to hamper the growth of the piling equipment and supplies market.
The construction of buildings, bridges, rail, etc. requires costly piling machines capable of driving piles into the ground to the required depth. Attributing to the high capital investment associated with these machines, small- and medium-sized construction contractors prefer renting machinery or purchasing old machinery rather than acquiring new machinery, which is subsequently restraining the growth of the piling equipment market.
The cost of piling sheets is relatively high, which might otherwise have disrupted their adoption; however, Occupational Safety & Health Administration (OSHA) standards mandate the adoption of such equipment in the construction industry. Thus, key participants such as engineers and contractors in the construction industry rent such equipment. The increasing adoption of this equipment on a rental basis, particularly in North America and Europe, is restricting the sales of new piling sheets.
Segmentation Analysis: The piling equipment and supplies market can be segmented on the basis of the equipment type, application, platform, capacity, piling product and region. On the basis of the capacity, the 40-150 kNm segment is anticipated to dominate the market in terms of volume over the forecast period; In terms of value, the clay platform segment is estimated to account for nearly 51.9% of the global piling equipment market and reach US$ 559.1 Mn by the end of 2018
Regional Market Projections: SEA is a leading market for piling equipment and is expected to account for over a 26.9% market share in terms of revenue by the end of 2018. The region’s dominance can be attributed to the significant use of piling equipment and rigs across residential, commercial and industrial sectors. The China piling equipment and supplies market is projected to witness significant growth in terms of value over the forecast period, exhibiting a CAGR of 4.2%.
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Vendor Insights: The report highlights 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. and BSP International Foundations Ltd., among other regional players.
Summary: The global piling equipment and supplies market is anticipated to register a value CAGR of 4.3% between 2018 and 2026.