Global Demolition Equipment Market is expected to cross more than USD 1 Billion by 2027

The global demolition equipment market is expected to grow rapidly as the construction and mining industries expand and the need for efficiency grows. According to the Makreo Research Study, the market experienced a healthy growth rate of 3% in 2021, driven by changing consumer preferences and the rapid evolution of structural design methods. The need for global demolition equipment is also expected to increase in the coming years, as the construction industry expands and there is a growing demand for the demolition of old and inefficient structures.

The study highlights three major demolition projects that took place in the Asia Pacific region in 2022, including the Supertech Twin Towers in India and the AXA and Fuji Xerox Towers in Singapore. These projects demonstrate the increasing demand for global demolition equipment, particularly in emerging markets.

The ongoing conflict between Russia and Ukraine is also having a significant impact on the global mining industry. As commodity prices fluctuate rapidly, there is a growing demand for raw materials such as neon, palladium, platinum, nickel, copper, and iron. The mining industry is increasingly in the spotlight as global supply chains attempt to keep up with expanding demand, which is driving higher demand for demolition equipment.

Overall, the Makreo Research study suggests that the global demolition equipment market is poised for strong growth in the coming years, driven by expanding construction and mining industries and the increasing need for efficient demolition equipment.

Further Key Findings:-
► Adopting Drones for Construction: Drones can provide inaccessible footage and cover large areas quickly, producing sharp images that can be saved and shared later. This technology is useful for surveying, analyzing, and marketing construction projects.

► Increase in Investments for Construction: Both government and private sector investments in construction have increased along with the growth in the world GDP. With the increasing number of projects and larger-scale operations, the demand for demolition work will surely expand.

► Improved Standard of Living: The expansion of enterprises due to globalization has led to an increase in job opportunities and income levels, raising the standard of living. This has led to a rise in demand for construction, tile, and demolition equipment.

► Boom in Commercial Spaces: Despite the hindrance caused by the pandemic, the global construction industry has rebounded, leading to a boom in shopping centers and office buildings. The floor area of commercial buildings is expected to increase, boosting the market for demolition equipment's growth potential.

► Sustainable Demolition: The introduction of sustainable demolition has significantly improved the process, with over 90% of waste being recycled. The industry aims to recover 98% of the total material, reducing project expenses by reusing the majority of the recovered materials.

Key Topics Covered in the Report:-
• Global Demolition Equipment Market Revenue, covering the Past, Present, and Future of the Industry
• Historic Building Demolitions Across the World
• Demolition Contractor's Performance
• Global Demolition Equipment Machinery (Heavy, Medium and Small)
• Global Demolition Equipment Applications (Construction, Infrastructure, Mining, Tunneling)
• Global Demolition Equipment demand in Asia Pacific region
• Global Demolition Equipment demand in Europe region
• Global Demolition Equipment demand in North America region
• Global Demolition Equipment Market Future Outlook
• Global Demolition Equipment Market Future Opportunities

Key Players Covered in the Report:
• Hitachi Ltd.,
• JCB,
• Doosan Corporation,
• Komatsu Ltd.,
• Kobelco Construction Machinery,
• Brokk, Caterpillar Inc.


For more information on the research report, refer to the below link:
https://www.makreo.com/report/global-demolition-equipment-market-report-size-and-future-forecast

Global Demolition Equipment Market Competitive Assessment:-
https://www.makreo.com/report/global-demolition-equipment-market-competitive-assessment

Review our similar related reports:-
https://www.makreo.com/report/india-construction-chemical-market-and-future-outlook-2016-2027-demand-by-product-type-end-use-geography

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This release was published on openPR.