Press release
Jackhammer Market is Projected to Expand at a 7.8% CAGR BY 2026
Rise in investments in the mining industry, demand for hydraulic jackhammers, and surge in construction activities of tunnels, roads, and railway tracks drive the growth of the global jackhammer marketAccording to the report, the global jackhammer market generated $202.8 million in 2018, and is expected to reach $361.2 million by 2026, registering a CAGR of 7.8% from 2019 to 2026.
Drivers, restraints, and opportunities
The hydraulic segment to continue its leadership status during the forecast period
Based on type, the hydraulic segment accounted for the highest share in the global jackhammer market, contributing to more than two-fifths of the total share in 2018, and is expected to continue its leadership status during the forecast period. This is due to rise in demand for tunnels, new canal channel, bridges, and open pit mining.
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The mining segment to continue to dominate in terms of revenue by 2026
Based on application, the mining segment accounted for more than one-third of the total market share of the global jackhammer market in 2018, and is estimated to continue to dominate in terms of revenue during the forecast period. This is attributed to surge in demand for natural resources in the developing economies of the Asia-Pacific and expansion of mining sector.
Europe to maintain its dominance by 2026, North America to follow
Based on region, Europe held the highest market share in 2018, accounting for nearly half of the global jackhammer market, and is expected to maintain its dominance by 2026. This is due to the rise in adoption for mining extraction and exploration.
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Leading market players
o Atlas Copco
o DEWALT
o Einhell Germany AG
o HiKOKI Power Tools
o Hilti Corporation
o Makita Corporation
o Milwaukee Tool
o Robert Bosch Tool Corporation
o STANLEY Infrastructure
o TR Industrial
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Allied Market Research provides one-stop solution right from data collection to investment advice. The analysts at Allied Market Research dig out factors that help clients understand the significance and impact of market dynamics. The company applies client's insight on the factors such as strategies, future estimations, growth or fall forecasting, opportunity analysis, and consumer surveys among others. As follows, the company offers consistent business intelligence support to help clients transform into a prominent business firm.
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