During the projected period, the worldwide compaction machines market is likely to rise due to increased infrastructure construction. Compaction machines are extremely important in infrastructure building activities. Over the projected period, the growing number of paved roads is likely to boost the worldwide compaction machines market growth. The constant need to build high-quality roads is a driver driving global economic and sustainable development growth. During the forecast period, strict environmental rules are projected to hinder growth in the worldwide compaction machines market. During operation, compaction machines release hazardous gases such as carbon dioxide and nitrous oxide. Meeting the stringent fuel emission criteria imposed by regulatory agencies is thus a significant barrier for market participants. Over the projected period, the worldwide compaction machines market is likely to be hampered by low labour productivity in road building and maintenance.
According to Coherent Market Insights, the global Compaction Machines Market is estimated to be valued at US$ 4,955.1 million in 2021 and is expected to exhibit a CAGR of 6.5% over the forecast period (2022-2030).
Key Companies in the Compaction Machines Industry:
1. Wacker Neuson SE
Wacker Neuson SE manufactures and distributes light and compact equipment under the Wacker Neuson, Kramer, Weidemann, and Enar brand names in Europe, the Americas, and the Asia-Pacific. It operates through three segments: Light Equipment, Compact Equipment, and Services. The company was founded in 1848 and is headquartered in Munich, Germany. In March 2021, Wacker Neuson a manufacturer of construction equipment and compact machines launched DPU6555 Hech Reversible Plate Compactor in India. This Plate Compactor can be used for all types of soil compaction on roads, railways (rail beds), and pathways.
2. Sany Heavy Industry Co. Ltd
Sany Heavy Industry Co., Ltd. engages in the research and development, manufacture, and sale of construction machinery worldwide. The company operates through Concrete Machinery, Excavation Machinery, Lifting Machinery, Pile-Working Machinery, Pavement Machinery, and Financial Service segments. The company was founded in 1994 and is based in Beijing, China.
3. Volvo Construction Equipment
Volvo Construction Equipment develops, manufactures and markets equipment for the construction and related industries. Founded in 1832, headquartered in Sweden. In September 2021, Volvo Construction Equipment is a manufactures of construction equipment unveiled its CX01 single-drum asphalt compactor concept at The Utility Expo in Louisville, Kentucky.
4. Wirtgen Group
Wirtgen Group is an internationally operating group of companies in the construction machinery sector. Founded in 1996, headquartered in Germany. In August 2021, Wirtgen Group German Company in the construction industry launched two new HAMM Tandem Rollers the HD 99i and HD 109i in the Indian market.
5. Caterpillar Inc.
Caterpillar Inc. manufactures and sells construction and mining equipment, diesel and natural gas engines, and industrial gas turbines. Caterpillar Inc. was founded in 1925 and is headquartered in Irving, Texas. In April 2019, Caterpillar Inc. showcased its 20 brand new machines at Bauma 2019, Germany.
6. Atlas Copco
Atlas Copco AB, together with its subsidiaries, provides productivity solutions North America, South America, Europe, Africa, the Middle East, Asia, and Oceania. It operates through Compressor Technique, Vacuum Technique, Industrial Technique, and Power Technique segments. The company was founded in 1873 and is headquartered in Nacka, Sweden.
7. Terex Corporation
Terex Corporation manufactures and sells aerial work platforms and materials processing machinery worldwide. It operates in two segments, Aerial Work Platforms (AWP) and Materials Processing (MP). Terex Corporation was founded in 1933 and is based in Norwalk, Connecticut.
8. BOMAG GmbH
BOMAG is the world market leader in the field of Compaction Technology and manufacture of machines for the compaction of soils asphalt and refuse, stabilizers/recyclers, land milling machines as well as finishers. Founded in 1957, headquartered in Germany. In September 2019, BOMAG GmbH introduced its road construction machines including 58kg tamper to a 58-ton refuse compactor.
9. XCMG Co. Ltd.
It is Developer of intelligent manufacturing solutions. The company focuses on the development of intelligent manufacturing software such as product management solutions, equipment cloud management solutions, and enterprise data mining and analytic solutions. Founded in 2014, headquartered in China.
*Definition- Compaction is a method of compressing materials in terms of size. The most frequent example is soil compaction, which offers strength and stability to the soil while decreasing permeability and erosion. A compaction machine is a mechanical device used to crush rubbish, gravel, dirt, concrete, or asphalt during road, airport, and dam building. Compaction machines are essential in a variety of road building tasks.
