Press release
Hydraulic Attachments For Demolition Market Growth Rate will Reach $7.1 bn by 2033
Hydraulic Attachments For Demolition Market
The hydraulic attachments for demolition market size was valued at $4.1 billion in 2023, and is estimated to reach $7.1 billion by 2033, growing at a CAGR of 5.6% from 2024 to 2033.
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Top Impacting Factors:
Demand for hydraulic attachments for demolitions for old construction is increasing due to the growth of infrastructure, residential, and commercial facilities. In addition, increasing population and indirectly rising demand for roads, bridges, highways, and tunnels are expected to drive the hydraulic attachments for demolitions market during the forecast period.
In addition, high productiveness, high effect performance and energy recovery can increase output in the shift, and reduced power and gas intake are just some of the advantages of hydraulic attachments for demolitions driving the growth of the hydraulic attachments for demolition market. Therefore, key market players are focusing on manufacturing superior hydraulic attachments for demolitions for building and mining applications.
For example, in August 2023, Jiangtu's launched innovative multipurpose grapple that represents a breakthrough in integrating multiple functions into a single machine. This versatile equipment incorporates various claws that can be easily selected and interchanged based on diverse working conditions, offering a flexible and cost-effective solution.
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The market is growing lucratively due to increased government investment in infrastructure sector. For instance, in September 2023, Mitsubishi Estate has started the construction of the Torch Tower, and is expedted to become Japan's tallest building at approximately 390 meters.
The new Tower, located near Tokyo Station, is expected to be completed by March 2028. Once completed, it will surpass the 330-meter Azabudai Hills Mori JP Tower in Tokyo's Minato Ward, which is holding the title of the country's tallest building. This ambitious project reflects Japan's ongoing commitment to architectural advancements and urban development. Such instances are expected to drive the construction sector, which, in turn, drive the growth of the hydraulic attachments for demolition industry.
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Top Runners in This:
Indeco, Caterpillar, Epiroc AB, Atlas Copco AB, Sandvik AB, Soosan Heavy Industries Co., Ltd., Xcentric, OKADA, Genesis Attachments, Montabert SAS
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