At 6.1% CAGR, the Asia Pacific Piling Machines Market is Projected to be Worth US$ 5,879.90 Million by 2031, Says Business Market Insights

According to Business Market Insights' research, the Asia Pacific piling machines market was valued at US$ 3,652.33 million in 2023 and is expected to reach US$ 5,879.90 million by 2031, registering a CAGR of 6.1% from 2023 to 2031. Increased piling machine rental services and product innovations and strategic activities adopted by significant players are among the critical factors attributed to the Asia Pacific piling machines market expansion.

The growing inclination toward renting construction equipment, including piling machines, is expected to offer an opportunity for rental companies to expand their services. Renting services allow construction companies to access high-end machines and equipment without the financial obligation of ownership. At present, piling machines are not restricted to conventional construction projects; they are gradually being utilized in various sectors, including renewable energy; for instance, wind turbine foundations and marine construction that involve docks and piers. This expansion opens new possibilities for growth and lets manufacturers choose different kinds of piling machines according to their requirements. The growing proliferation of rental services offers construction companies the liberty to rent various kinds of piling machines as per specific requirements.

Rental services offer companies the elasticity to scale their operations to match the project needs. Construction projects vary in duration and scope, allowing companies to access a rental fleet for suitable equipment for each operation without being tied to a single machine. Furthermore, when renting piling machines, the liability for maintenance normally falls on the rental company. This understanding allows construction companies to emphasize their fundamental activities without being concerned about the maintenance of heavy machinery.

For new piling rigs, prices, in general, range from US$ 50,000 to US$ 55,000 for standard models, such as those with specific capabilities and dimensions. This price can vary based on additional attributes and technology. On the other hand, rental fees can be ~US$ 11,500 per month for certain types of piling rigs in India. Renting is a viable option for some customers due to high cost. This option is often more cost-effective for short-term projects. In addition, the increase of online platforms for equipment rental has streamlined the process of obtaining piling machines. Companies such as Piling Broker offer easy online ordering, making it more convenient for contractors to get the equipment without massive logistical challenges.

On the contrary, technological limitations and availability of substitute methods hamper 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 46.6% share of the Asia Pacific piling machines market in 2023, amassing US$ 1,703.43 million. It is projected to garner US$ 2,764.23 million by 2031 to expand at 6.2% CAGR during 2023–2031.

Based on method, the Asia Pacific piling machines market is segmented into vibro piling, drilling, and driven piling. The drilling segment held 53.5% share of the Asia Pacific piling machines market in 2023, amassing US$ 1,954.42 million. It is projected to garner US$ 3,262.01 million by 2031 to expand at 6.6% CAGR during 2023–2031. The drilling segment is further sub segmented into kelly, continuous flight augur, full displacement piles (FDP), micropiles, and others.

Based on country, the Asia Pacific piling machines market is segmented into Australia, China, India, Japan, South Korea, and the Rest of Asia Pacific. China held 39.0% share of Asia Pacific piling machines market in 2023, amassing US$ 1,422.95 million. It is projected to garner US$ 2,399.00 million by 2031 to expand at 6.7% CAGR during 2023–2031.

Key players operating in the piling machines market are Liebherr-Werk Nenzing GmbH; Junttan Oy; Bauer AG; Soilmec SpA; Casagrande SpA; Comacchio SpA; Mait SpA; ABI Equipment Ltd; Enteco Srl; IMT Srl; Sany Heavy Industry Co Ltd; CONSTRUCCIONES MECANICAS LLAMADA SL; BSP TEX Ltd; BRUCE Piling Equipment Co Ltd; American Piledriving Equipment Inc; Terra Infrastructure GmbH; International Construction Equipment Inc; FAYAT GROUP; TWF Baumaschinentechnik GmbH; XCMG Construction Machinery Co Ltd; KLEMM Bohrtechnik GmbH; Van den Heuvel; Action Construction Equipment Limited; Fundex Equipment BV; Dieseko Group BV; DAWSON CONSTRUCTION PLANT LTD; Shandong Yahe Construction Machinery Co., Ltd.; IQIP BV; GeoQuip Power Systems, LLC; and LeBoTec B.V., among others.

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