Piling Machine Market, By Product Type (Diesel Hammer, Vertical Travel Lead Systems, Hydraulic Hammer, Hydraulic Press-in, Vibratory Pile Driver, Piling Rig), By Piling Method (Impact Driven, Drilled Percussive, Rotary Bored, Air-lift RCD Rig, Auger Boring, Continuous Flight Auge, Others), By Geography (North America, Latin America, Europe, Asia Pacific, Middle East & Africa)

Published In : Jun 2024

Code : CMI1541

Pages :170

Formats :

Excel and PDF

Industry : Construction Engineering

Market Challenges: Rising Raw Material Costs

Construction activities around the world were impacted by the COVID-19 pandemic as countries imposed lockdowns, and this decreased demand for piling machines in 2020 and 2021. Raw material prices have increased in recent times due to high inflation, thus, putting pressure on piling machine manufacturers' margins. Finding and retaining skilled operators to handle complex piling machine requirements is another issue. Geo-political tensions can also affect the supply of critical components, disrupting manufacturers' production schedules.

Market Opportunities: Demand Surge from Megaprojects in Infrastructure Development

As the pandemic subsides and lockdowns are lifted, construction spending is expected to rebound strongly. Megaprojects such as bridges, tunnels, and buildings will require piling machines for foundation work. There is need for piling machines that can work more efficiently in congested urban environments. Adoption of automated functions and advanced technologies in these machines is crucial to enhance precision, reduce noise, and minimize disruptions in densely populated areas. Furthermore, integrating smart systems for real-time monitoring and diagnostics can significantly improve operational efficiency and safety, ensuring that construction projects meet stringent urban planning and environmental standards.