Compaction Equipment Market 2019 – Industry Size, Share, Dynamics, Status, Outlook and Opportunities: 2026
Pune, Maharashtra, India, September 16 2020 (Wiredrelease) Absolute Reports Pvt. Ltd :The global compaction equipment market is likely to gain momentum from their increasing usage in the construction and building of industrial, commercial, and residential sites, as well as water reservoir structures and roadways. Besides, these machines are used extensively to extract soil from soil mass for achieving high water content and soil density. This information is published by Fortune Business Insights in an upcoming report, titled, “Compaction Equipment Market Size, Share Industry Analysis, By Type (Smooth wheeled Roller, Sheepsfoot Roller, Pneumatic Roller, Vibratory Roller, Rammers, Vibratory Plate Compactor), By Application (Soil Compaction, Concrete Compaction), By End User (Engineering Construction, Mining) and Regional Forecast, 2019-2026.” The report further mentions that nowadays, urbanization is growing rapidly worldwide. It is thereby, increasing the number of construction projects. This factor would impact the market positively in the coming years.
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Highlights of the Report:
Coverage of all the possible segments present in the market.
An elaborate analysis of small scale LNG terminal market trends, growth drivers, restraints, developments, opportunities, and challenges.
Comprehensive details about the organizations operating in the market.
Inclusion of the company profiles, such as new product launches, revenue, product portfolio, and strategic collaborations.
Increasing Demand for Residential Projects to Augment Growth
The governments of various countries are investing huge sums in upgrading the infrastructure. Coupled with this, the upsurging need to cut off air void content and water seepage in soil would propel the compaction equipment market growth during the forthcoming years. Apart from these, prevention of soil settlement and damage, as well as provision of stability are likely to contribute to the market growth. Also, as the population is rising globally, the demand for residential projects is also surging day by day. Along with this, there is an urgent need for dams and roadways. It would help in augmenting growth.
Rising Number of Construction Projects to Favor Growth in Asia Pacific the Middle East
In terms of region, the market is segregated into Asia Pacific, North America, the Middle East and Africa, Latin America, and Europe. Out of these, the Middle East and Asia Pacific are at present, in the dominant position in terms of compaction equipment market revenue. This growth is attributable to the ongoing infrastructure development in the emerging countries, such as Qatar, Kuwait, Indonesia, China, and India. These countries house a large number of planned, as well as ongoing construction and engineering projects. Also, the government agencies are aiming to develop the structured facilities in the fields of tourism, transportation, and hospitals.
North America and Europe, on the other hand, are anticipated to experience considerable growth during the forthcoming years backed by the stringent rules and regulations put forward by the government bodies regarding protection from security threats and machine vibration. They are focusing on replacing the conventional combustion engine excavator to lower carbon emission and noise.
Lastly, in Latin America, the market would grow gradually owing to the downfall in mining and construction industry. It is likely to occur because of the increasing carbon footprint and very weak economic conditions in this region. However, countries, namely, Uruguay, Peru, Colombia, Mexico, and Chile have the potential to invest significantly in the construction, forestry, manufacturing, and mining sector in the coming years.
Key Organizations Focus on Acquisitions Product Launches to Remain at the Forefront
Many companies operating in the market are striving persistently to gain more compaction equipment market share by unveiling state-of-the-art products. They are following the stringent norms and guidelines provided by the governments across the world to reduce the amount of carbon in the environment. Some of these companies are also engaging in acquisitions to strengthen their positions. Below are a couple of the noteworthy industry developments:
April 2019: Volvo Construction Equipment, also known as Volvo CE, a developer, manufacturer, and marketer of equipment for construction and related industries based in Sweden, introduced its first ever electric compact excavator and wheel loader that gives out zero-emissions. It is committed to ‘Building Tomorrow’. The machines require less maintenance, lower energy costs, deliver zero exhaust emissions, enhance efficiency, and reduce noise levels, unlike their traditional counterparts. , December 2017: The construction division of Husqvarna Group, a manufacturer of outdoor power products headquartered in Stockholm, signed an agreement to acquire the concrete equipment and light compaction business from Atlas Copco, a manufacturer of industrial tools and equipment based in Sweden. As per the company officials, this acquisition would support Husqvarna in broadening its segments of concrete floors and surfaces. It would not only allow the company to grow in the overall market, but also help it in gaining the leading position.
List of Key Companies Profiled in the Compaction Equipment Market Report:
J C Bamford Excavators Ltd., Caterpillar, Escorts Limited, AB Volvo, Komatsu Ltd., MBW Incorporated, Atlas Copco AB, Deere Company, Hitachi Construction Machinery Co., Ltd., Sakai America, Inc., Other key market players
Pre Book- Compaction Equipment Market Research Report: https://www.fortunebusinessinsights.com/checkout-page/101791
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