A piling machine is a mechanical device used for foundation support for structures and buildings by driving piles into the soil. Piling machine is mainly used to drill foundations in clay, sandy soil, etc. It finds applications in various industries including construction, oil & gas, and more. There are different types of piling machines such as hydraulic, diesel, piling rig, hydraulic press-in, etc.
Market Statistics:
The global piling machine market is expected to surpass US$ 2,031.4 Mn in terms of value by the end of 2028.
Market Driver
Growing investment in non-conventional energy sources is expected to boost the global piling machine market growth over the forecast period
Advancements in technology, especially in hydraulic fracturing have led to the production of non-conventional shale gas rather than conventional oil & gas. As a matter of fact, shale gas and tight oil production in Canada and the U.S. are expected to increase in the near future, which in turn, is expected to boost the demand for piling machines. According to the U.S. Energy Information Administration (EIA), shale gas and tight oil production are expected to reach 29 Tcf by 2040, increasing from 14 Tcf. Thus, such factors are expected to boost the global piling machine market growth over the forecast period.
Market Opportunity
Rapid growth of emerging markets can provide significant business opportunities in the global piling machine market
Emerging markets such as India and China present major business opportunities for key market players. The cost of production is significantly low and thus, manufacturers can capitalize on these opportunities by setting up their plants in the aforementioned countries. Furthermore, existing players are focused on the expansion of their production capacities, in order to cater to rising demand for piling machines in emerging economies.
Global Piling Machine Market: Recent Developments
- In October 2021, Soilmec S.p.A., a piling machine manufacturer, has been shortlisted in the "Award for equipment Innovation" category at the Ground Engineering Magazine Awards 2021 for the CSP (Cased Secant Piles) Automatic Drilling.
- In June 2020, Bauer Technologies, a subsidiary of the BAUER Group, has been awarded the piling and foundation works contract for Highways England’s M6 junction 19 improvement works, to improve connections between Cheshire and South Manchester.
- In May 2020, Bauer Technologies, a subsidiary of the BAUER Group, has been awarded the piling and foundation works contract for the Ness Energy Project, a planned waste-to-energy plant which is being constructed in Aberdeen (Scotland).
Market Restraint
High operating cost related to piling machines is expected to hinder the global piling machine market growth over the forecast period
The operational cost of the piling machine is significantly high as compared to other construction equipment. Besides, the procurement cost of piling hardware and other equipment is significantly on the higher side. Furthermore, some building sites do not allow the use of piling machine and have numerous restrictions, which becomes costly to operate these machines. Hence, these factors are expected to hinder the global piling machine market growth over the forecast period.
Global Piling Machine Market - Impact of Coronavirus (Covid-19) Pandemic
The Covid-19 outbreak has had an adverse impact on various industries around the globe. Due to the strict rules and regulations undertaken by government to curb the spread of the infection, companies are looking to function remotely. Moreover, various companies are looking to implement strict measures to operate at minimum risks. Additionally, various companies had shutdowns their manufacturing units which had an adverse impact on piling machine market.
To know the latest trends and insights prevalent in this market, click the link below:
https://www.coherentmarketinsights.com/market-insight/piling-machine-market-1541
Key Takeaways:
- The global piling machine market was valued at US$ 1,227.3 Mn in 2020 and is forecast to reach a value of US$ 2,031.4 Mn by 2028 at a CAGR of 6.5% between 2021 and 2028.
- The Hydraulic Press-in segment is expected to witness a CAGR of 1% over the forecast period.
Market Trends
- Trends by product type
Demand for the hydraulic hammer is increasing with growing environmental concerns over air and noise pollution. Manufacturers of the hydraulic hammer are developing products with advanced features to meet the customer requirements. For instance, in 2015, BSP International launched DX hydraulic hammers that can drive small bearing piles and sheet piles single or in pairs. This hammer can be driven directly using a hydraulic rig or an excavator base. Increasing infrastructure projects related to railways, tunnels, etc. requires a special type of product with respect to the soil condition and operational space availability. Foundation equipment manufacturers are developing products to overcome such constraints.
- Research and development activities is another emerging trend
Key companies are focused on research and development activities, in order to enhance the market presence. For instance, in June 2016, Soilmec S.p.A. launched SR-45 hydraulic drilling rigs enabled with DP technology, which enhances the bearing capacity of the rig and requires minimum drilling mud while operational making it economical to operate. Furthermore, in 2015, International Construction Equipment introduced ICE Model 77 C hydraulic vibratory driver with model 800T power unit in its vibratory Drivers and Extractors – Tier IV series.
Competitive Section
Major companies operating in the global piling machine market are BSP International Foundations, MAIT S.p.A., Soilmec S.p.A., Changsha Tianwei Engineering Machinery Manufacturing Co., Ltd., Casagrande Group, DELMAG GmbH & Co. KG, Bauer Group, Junttan Oy, International Construction Equipment, and Liebherr.
