Pile Driver Market Forecast and CAGR
As per ongoing study, Pile Driver market is expected to experience substantial gains, with projections around 6% to 7% CAGR from 2021 to 2031. Due to COVID-19 pandemic has disrupted the normal growth of every industry. The government-imposed lockdowns and unstable economic conditions has declined the demand for Pile Driver but this industry has huge growth in loner run in the developing countries.
Despite rapid insertion in infrastructure industry, demand of driver will witness steady growth in short-term, with better growth outlook in the longer time frame. The modern and technological advancement in building infrastructure will create more opportunities in following years, however, sales of pile drivers will control costs and time, allowing us to construct a more durable and better foundation for high-rise buildings.
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What have been the Key Attributes for Pile Driver Market Growth?
Due to increasing projects and construction activities related to civic infrastructure, good foundation is necessary to sustain building in any weather. As sustainable development and new technologies in the field of construction will become the reason to increase the demand in future.
The usage of pile driver enhances the speed of work and provides concrete foundation for high rise buildings. This equipment has a compact design that allows for smooth and precise control of to adhere the loose foundation. It will reduce construction costs, fossil fuel consumption, and, most significantly, time.
In addition, the emerging countries are focusing on increasing expenditure on equipment for creating smart cities and skyscrapers which boost up the demand for drivers in the long run.
Infrastructural work platforms primarily to Pile Driver Sales
In past 4-5 years, the construction industry has observed to record a steady growth rate in the range of 4% in wake of sumptuous projects from developed and emerging economic regions. In developing countries, the machine is still witnessing rapid adoption rate in terms of new sales.
Hence infrastructural upliftment and safety plays a crucial role to increase the sales. It assures to save time and cost of construction and boost the economy in upcoming years. It also has added advantage 0f saving human life of construction workers and laborers.
The infrastructural complexity and challenges will create opportunities for manufactures and diversify their product according to the need of work. As per study, around $3.7 trillion are required to reform infrastructure globally.
Hence countries are focusing more on convenient and suitable equipment such as pile drivers to boost up the productivity. As a result, the high demand from the construction industry is predicted to create opportunities and eventually drivers become a lucrative company product.
China Demand Scenario
China is touted to be a leading regional market contributing over 25 % of global market share as opined by OEMs. China market is expected to grow on continued note during the assessment period 2021-2031. The massive infrastructural deployment by the china creates huge potential and revenue growth in manufacturing industry.
Though the annual sales growth rate is perceived to be impacted by the COVID-19 recovery in 2021, yet China’s mammoth rural and urban investment which is 15 % on infrastructure planned for the next 5 years is said to support the demand generation of pile drivers.
The equipment manufacturer will see huge growth due to aggressive investment policy and rapid growth in the geopolitical sector of Chinese government. It surges significantly over a period and beyond, and will continue the significant growth of the equipment manufacturing companies.
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Key Segments
By Type
- Piling hammer
- Piling rigs
- Piling winches
- Hanging leader and guides
- Others
By Application
- Buildings Construction Industry
- Transport Industry
- Others
By End-use Industry
- Rotary Bored
- Air Lift Reverse Circulation Drilling (RCD)
- Auger Boring
- Continuous Flight Auger (CFA)
- Impact Driven
- Drilled Percussive
North America Demand Outlook
The North American Pile Driver Market is also considered to be another notable regional market and is expected to increase significantly over the next 5-7 years owing to revival of construction sector growth especially in U.S. Migration towards tier-1 cities will hike in construction activities thereby imbibing a sound rate of pile drivers.
Additionally, upgradation and setting up new public building, schools, public parks, and airports will boost up the product deployment at these locations. The oil and gas project is another end use vertical which could result in a surge in demand for manufacturing and other construction equipment in North America thereby implying a huge potential and growth in the North American market.
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Who are the Key Manufacturers and Suppliers of Pile Driver?
The key manufacturers involved in offering of Pile Drivers include
- Liebherr
- Sunward
- Bauer
- American Pile driving Equipment (APE)
- Dieseko
- Casagrande
- Daedong Engineering
- PTC (Fayat Group)
- Yongan Machinery
- Vermeer
- Junttan
- ThyssenKrupp
- Hercules Machinery.
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