May 21, 2024
Piling Machine Market

The Global Piling Machine Market Is Expected To Driven By Growing Construction Industry

The global Piling Machine Market is primarily engaged in constructing foundations for buildings, bridges and other structures by driving or boring steel, timber, or concrete piles into the ground to carry the weight of the structure above it. Piling machines are used for multiple construction purposes such as consolidating loose or soft soil, controlling groundwater levels, and providing stability to structures built near water bodies or in storm-prone areas. These machines help in inserting ground anchoring elements or friction piles made from precast concrete, steel, composite materials or wood into the earth to give solid base and load bearing capabilities to structures.

The global Piling Machine Market is estimated to be valued at US$ 1484.7 Mn in 2023 and is expected to exhibit a CAGR of 13.% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key Trends:

Rising urbanization and infrastructure development activities across the globe are stimulating the demand for efficient construction equipment including piling machines. Rapid growth of smart cities and traffic infrastructure projects in developing economies is acting as a key growth driver. Moreover, introduction of hybrid-powered piling machines integrated with renewable energy sources is minimizing fuel consumption and operational costs. Technological innovations in piling equipment such as integration of global positioning systems and remote monitoring solutions are enhancing productivity, precision and project management. Stable investment flows from governments and private entities in road, rail and building construction ventures especially in Asia Pacific are creating significant opportunities for piling machine manufacturers over the forecast period.

Porter’s Analysis

Threat of new entrants: High capital requirements and economies of scale in production pose barriers for new entrants in the piling machine market.

Bargaining power of buyers: Buyers have moderate to high bargaining power due to availability of substitutes in the market.

Bargaining power of suppliers: Suppliers have moderate bargaining power due to availability of substitute components.

Threat of new substitutes: Substitutes like driven piles and auger piles present moderate threat to the piling machine market.

Competitive rivalry: The piling machine market features strong competition due to presence of numerous global and regional players.

Key Takeaways

The global Piling Machine Market Growth is expected to witness high growth. The market size is projected to reach US$ 1484.7 Mn by 2024 growing at a CAGR of 13% during the forecast period.

Regional analysis

Asia Pacific dominates the global piling machine market and accounted for over 35% of revenue share in 2023. Rising urbanization and infrastructure development activities in China and India are fueling demand for piling machines in the region. Europe and North America are other major markets global supported by ongoing rail and road construction projects.

Key players

Key players operating in the piling machine market are Soilmec S.p.A, Atlas Copco, BAUER, Casagrande, TESCAR, Delmag, and BSP International Foundations. Soilmec S.p.A specializes in manufacturing various types of drilling rigs and piling machines used in civil construction and tunnelling.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it