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Compaction Machines Market Revenue Expected to Expand at 6.2% CAGR Through 2025

03-20-2017 02:05 PM CET | Advertising, Media Consulting, Marketing Research

Press release from: Future Market Insights

Compaction Machines Market Revenue Expected to Expand at 6.2%

Introduction

A compaction machine is a type of a mechanical device that is used to compact or reduce the size of the soil, gravel, trash, concrete or asphalt used in the construction of roads, dams and airports, and in other construction related activities. Road rollers or compactors normally use the weight of the vehicle to compact the surface being rolled or use its mechanical advantage through vibration by getting enough power from its engine. Compaction machine plays an essential role in a wide range of road construction projects. Streets and highways, airport runways and most types of structures cannot be built without proper compaction of base material under paved surfaces.

The compaction machines market, globally, is estimated to reach US$ 3,443.3 Mn by the end of 2015, and is projected to expand at a stable CAGR of 6.2% to reach 6,310.7 Mn by the end of the forecast period. In terms of unit sales, it is estimated that, globally, 342,639 units of new compaction machines would be sold by the end of 2025. Asia Pacific dominates the market in terms of value currently, accounting for about 40% market share due to higher volume sales of heavy compaction machinery in the region. However, Western Europe is expected to dominate the market in terms of unit sales, over the forecast period garnering more demand for light compaction machines.

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Drivers, Restraints & Trends

There has been significant investment being made in infrastructure globally, with rise in the number of paved roads, which in turn is expected to fuel the market for compaction machines over the forecast period. Investment in road maintenance and development alone is expected to account for approximately 28% of the overall infrastructure investment made during the forecast period. Furthermore, increasing demand for smart cities, new construction projects and building dams and airport runways, in turn, is expected to boost the demand for compaction machinery over the forecast period. Intelligent compaction, including sensors, displays and telematics is the trend observed in the global compaction machines market currently. The financing industry for heavy compaction machines is expected to expand at a CAGR of over 15% during the forecast period, with leading private and central banks taking initiatives to finance heavy machinery by way of leases or loans. Moreover, European manufacturers are increasingly catering to the dynamic market in Asia Pacific through mergers and acquisitions. Currently, the heavy compaction machinery’s rental penetration and secondary sales market is growing significantly. However, this trend is expected to pose a major challenge for new equipment sales. Apart from this, delay in project clearances, globally, along with low labour productivity, are some of the other challenges faced by the global compaction machines market.

Analysis by Product

On the basis of product type, the global compaction machine market is segmented into two major segments, namely heavy compaction machines and light compaction machines. The heavy compaction machines segment is further sub-segmented into heavy tandem roller, single drum roller and pneumatic roller. The light compaction machines segment, on the other hand, is sub-segmented into hand operated machines, light tandem roller and trench roller. The global compaction machine market accounted for about 4% share of the overall construction equipment market in 2014, with 42.8% revenue share of the market held by the single drum roller segment alone. Heavy tandem roller, single drum roller and light tandem roller are further broken down into various categories, by weight (tonne). Hand operated machines include rammer, vibratory plates (forward), vibratory plates (reverse) and walk behind roller. In terms of unit sales, the light compaction machines segment currently accounts for about 85% market share in terms of sales and is likely to dominate the overall market by the end of 2025, in view of the increasing importance of these machines in road, footpaths and highway maintenance. The heavy compaction machines segment is anticipated to grow at a high rate as compared to the light compaction machines segment.

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Key Players

Key players in the global compaction machines market include Volvo Construction Equipment - Volvo CE, Caterpillar Inc., Terex Corporation, BOMAG GmbH, Wacker Neuson SE, XCMG Co. Ltd, Zoomlion Heavy Industries Science and Technology Co Ltd, Atlas Copco, Wirtgen Group and Sany Heavy Industries Co Ltd. Even though global players account for more than 75% share of the global compaction machines market, small and unorganised market players are anticipated to have a huge role to play during the forecast period.

About Us – Future Market Insights is the premier provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in London, the global financial capital, and has delivery centers in the U.S. and India.

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