April 22, 2024

Piling Machine Market to Witness Robust Growth by 2030 owing to Rising Construction Activities

Piling machines are used for various construction applications such as buildings, bridges, industrial buildings, tunnels, retaining walls, and many more. Piling machines are categorized into impact hammer, hydraulic hammer, vibratory drivers, hydraulic drill rig, and hydraulic drill rigs based on technology used in installation of piles. Impact hammer and vibratory drivers are commonly used for installing piles in soft soils whereas hydraulic drill rigs are used for installing piles in hard strata. The advantage of using piling machines is that they are efficient and ensure safety during pile installation works compared to traditional methods. Rising construction activities around the world especially in developing countries are expected to drive the demand for piling machines during the forecast period.

The global piling machine market is estimated to be valued at US$ 1710.38 Bn in 2024 and is expected to exhibit a CAGR of 13 % over the forecast period 2024 to 2030.

Key Takeaways
Key players operating in the Piling Machine Market are Wacker Chemie AG, OCI Company Ltd., GCL-Poly Energy Holdings Limited, Hemlock Semiconductor Corporation, Tokuyama Corporation, REC Silicon ASA, Daqo New Energy Corp., SunEdison, Inc. (acquired by MEMC Electronic Materials), LDK Solar Co., Ltd. (faced financial difficulties in the past), TBEA Co., Ltd. The demand for piling machines is growing owing to increasing infrastructure development projects across the globe. Technological advancements have led to the development of robust and efficient piling machines that can install piles at a faster rate with minimal human intervention.

Market Trends
Some of the key trends observed in the piling machine market are increasing adoption of hydraulic piling machines and growing demand for larger capacity piling machines. Hydraulic piling machines offer advantages like higher productivity, ease of operation, and better pile alignment control compared to other types. Manufacturers are also focusing on developing larger capacity piling machines that can drive piles with diameters greater than 1.5 meters to cater to growing demand from large construction projects.

Market Opportunities
The global piling machine market is projected to witness significant growth opportunities during the forecast period. Rising construction of metro rail and high-speed rail projects across major economies will drive the demand for sophisticated piling machines. Increasing investments towards tunnelling projects for roads and metros is also expected to create growth opportunities for robust tunnelling piling machines. Development of hybrid machines that leverage advantages of multiple piling technologies will open new growth avenues.

Impact of COVID-19 on Piling Machine Market
The COVID-19 pandemic has significantly impacted the growth of the piling machine market. During the initial phase of the pandemic, various construction projects were postponed or put on hold due to lockdowns and movement restrictions imposed by governments globally. This led to a decline in the demand for piling machines as construction activities were disrupted. Manufacturing facilities also witnessed shutdowns or operating disruptions during this period affecting the production of piling machines.

With the gradual lifting of lockdowns and resumption of construction projects post pandemic, the piling machine market is witnessing signs of recovery from 2021 onwards. However, the demand is yet to regain the pre-pandemic levels fully. The pandemic has also emphasized the need to adopt advanced technologies like remote monitoring systems in piling machines to ensure safety of workers and smooth operations. Social distancing norms have also pushed manufacturers to incorporate automation and digitization more in piling machine production.

Value concentration in geographical regions

In terms of value, the Asia Pacific region accounts for a major share of the global piling machine market currently. This is primarily due to the high number of ongoing infrastructure projects, rapid urbanization and economic growth seen in countries like China and India. Significant investments are being made by these governments towards development of roads, rail networks, metros, airports and other public infrastructure which is driving the adoption of piling machines in the region.

Fastest growing region

The Middle East and Africa region is expected to be the fastest growing market for piling machines during the forecast period till 2030. This growth can be attributed to increasing government focus on diversifying economies away from oil dependence along with investments in building world-class cities and tourism destinations. Ongoing projects such as Expo 2020 in Dubai and 2022 FIFA World Cup infrastructure in Qatar are slated to boost the demand for piling machines in Middle East.

Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it