
Published On: Mar 2023
Published On: Mar 2023
At 5.3% CAGR, the Asia Pacific Piling Machines Market is projected to be worth US$ 4,694.54 million by 2028, says Business Market Insights
According to Business Market Insights’ research, the Asia Pacific piling machines market was valued at US$ 3,444.30 million in 2022 and is expected to reach US$ 4,694.54 million by 2028, registering a CAGR of 5.3% from 2022 to 2028. Growing infrastructure advancement activities in emerging economies and product innovations and strategic activities adopted by the key players are the critical factors attributed to the Asia Pacific piling machines market expansion.
The emerging economies are implementing major construction and infrastructure activities. Governments of China and India are also taking various initiatives to strengthen their construction and infrastructure industries. Various active projects in China include Hong Kong-Zhuhai-Macau Bridge, Shanghai Tower, Beijing Subway Metro Network, the Giant Wind Turbines, and Super LNG Tanker. Such infrastructure and construction initiatives taken by the governments of various emerging economies worldwide provide lucrative growth opportunities to the piling machines market.
On the contrary, effects of ground vibrations are restraining the growth of Asia Pacific piling machines market.
Based on product, the Asia Pacific piling machines market is segmented into impact hammer, piling rigs, vibratory drivers, and others. The piling rigs segment held 40.9% share of Asia Pacific piling machines market in 2022, massing US$ 1,408.95 million. It is projected to garner US$ 1,875.33 million by 2028 to expand at 4.9% CAGR during 2022–2028.
Based on method, the Asia Pacific piling machines market is segmented into vibro piling, drilling, and driven piling. The drilling segment held 50.3% share of Asia Pacific piling machines market in 2022, massing US$ 1,732.75 million. It is projected to garner US$ 2,268.70 million by 2028 to expand at 4.6% CAGR during 2022–2028. Further, the drilling segment is categorized into kelly, continuous flight auger (CFA), full displacement piles (FDP), micropiles, and others.
Based on country, the Asia Pacific piling machines market has been categorized into China, India, Japan, South Korea, Australia, and the Rest of Asia Pacific. Our regional analysis states that China captured 38.0% share of Asia Pacific piling machines market in 2022. It was assessed at US$ 1,310.10 million in 2022 and is likely to hit US$ 1,831.34 million by 2028, exhibiting a CAGR of 5.7% during the forecast period.
Key players dominating the Asia Pacific piling machines market are Bauer AG, Casagrande SpA, Comacchio SpA, Dieseko Group BV, Enteco S.r.l, Junttan Oy, Liebherr-Werk Nenzing GmbH, Sany Heavy Industry Co Ltd, Soilmec SpA, and Xuzhou Construction Machinery Group Co Ltd among others.
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