Product ID: UCMIG20G2023
Report ID:
UCMIG20G2023 |
Region:
Global |
Published Date: Upcoming |
Pages:
165
| Tables: 55 | Figures: 60
In 2020, the global market for piling machines reached a significant value of USD 5.08 billion. Going forward, it is projected to witness a steady growth rate with a compound annual growth rate (CAGR) of 3.6% from 2021 to 2028. Piling machines are essential equipment used in construction projects for foundation work, providing stability and support to structures. The anticipated growth in the piling machine market can be attributed to the increasing demand for infrastructure development, particularly in emerging economies, where rapid urbanization and industrialization are driving the need for robust construction activities. Factors such as technological advancements, rising investments in construction projects, and government initiatives aimed at improving infrastructure are expected to fuel the market growth during the forecast period.
This report is being written to illustrate the market opportunity by region and by segments, indicating opportunity areas for the vendors to tap upon. To estimate the opportunity, it was very important to understand the current market scenario and the way it will grow in future.
Production and consumption patterns are being carefully compared to forecast the market. Other factors considered to forecast the market are the growth of the adjacent market, revenue growth of the key market vendors, scenario-based analysis, and market segment growth.
The market size was determined by estimating the market through a top-down and bottom-up approach, which was further validated with industry interviews. Considering the nature of the market we derived the Construction Machinery & Heavy Trucks by segment aggregation, the contribution of the Construction Machinery & Heavy Trucks in Capital Goods and vendor share.
To determine the growth of the market factors such as drivers, trends, restraints, and opportunities were identified, and the impact of these factors was analyzed to determine the market growth. To understand the market growth in detail, we have analyzed the year-on-year growth of the market. Also, historic growth rates were compared to determine growth patterns.
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Product ID: UCMIG20G2023