According to IMARC Group’s latest report, titled “Piling Machine Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026,” the global piling machine market grew at a CAGR of around 5% during 2015-2020. Looking forward, the market is expected to exhibit moderate growth during 2021-2026.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
A piling machine refers to a piece of mechanical equipment used to place piles and poles in the ground to support constructions. It is primarily used for drilling in grounds with sandy soil and silty clay. The machine generally includes an impact hammer, long columnar and extendable component, or pile, manufactured with timber, steel, or reinforced concrete. It can perform various functions, including drilled percussion, auger boring, impact-driven, and rotary boring piling. As a result, piling machine is widely used to construct bridges, water tanks, foundation reinforcement and diaphragm walls across residential and commercial spaces.
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Significant growth in the construction industry worldwide is primarily driving the product demand. Moreover, the increasing adoption of piling machines to install wind turbines in loose soil is also propelling the market growth. Furthermore, various government bodies are promoting the installation of offshore wind turbines for improved electricity generation, which is leading to the growing utilization of these machines for underwater piling operations. Besides this, several equipment manufacturers are also replacing diesel hammers with hydraulic and low-noise variants to mitigate adverse environmental impacts. Numerous other factors, including extensive infrastructural developments and expansion in the metal mining industries, are expected to further bolster the market growth in the coming years.
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List of Key Companies Covered in this Market Report:
The report has segmented the market on the basis of product, piling method, application and geography.
Key highlights of the report:
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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