PILING MACHINE MARKET ANALYSIS

Market Concentration and Competitive Landscape

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Urbanization

Rapid urbanization worldwide ia also expected to drive the market growth. With more people migrating to cities in search of employment and better standards of living, urban centers across developing nations are expanding at a rapid pace. This has dramatically increased the construction of residential and commercial buildings including high-rises and smart townships. Reliable foundation support is paramount for the safety and longevity of tall structures, which spurs the use of piling installations. Swelling urban populations boosts the development of mass transit systems and roads within cities. Mega projects such as metros, flyovers and underpasses also create large-scale demand for sophisticated foundation laying equipment.

Governments are keen to promote organised development of urban centers with increased floor space indexes. This has upped the construction of multi-level basements and underground parking facilities that hinge upon piling structures. The shifting focus towards smart cities and green buildings enforces strict safety and sustainability mandates, which piling solutions can address well. For instance, in October 2021, Junttan, a Finland-based company, introduced the PMx2e rig, featuring two detachable 396kWh battery packs that replace the counterweight and a 266kW electric motor, offering between 8 and 13 hours of use depending on project requirements.