Compaction Equipment Market Outlook
According to the report by Expert Market Research (EMR), the global Compaction Equipment Market Size is projected to grow at a CAGR of 4.30% between 2023 and 2028. Aided by the rising urbanisation, escalating infrastructural activities, and the growing demand for road repair and maintenance, the market is expected to grow significantly by 2028.
Compaction equipment is fundamental to construction and infrastructural projects as it compacts soil, asphalt, or waste materials, thus creating a smooth, level surface and increasing its density. By eliminating air voids, it increases load-bearing capacity, reduces water seepage, swelling, and contraction, which significantly enhance the quality, safety, and durability of the structures.
The escalating urbanisation and rising global construction activities are the primary drivers of the global compaction equipment market growth. As burgeoning cities expand their infrastructure, the demand for effective and durable compaction solutions escalates. Alongside, the advancement of megacities and the growing demand for well-established road networks in developing economies are boosting the market expansion.
The surge in road repair and maintenance projects worldwide further stimulates the compaction equipment market demand. The enhanced focus on road quality and longevity has led to an increased demand for compaction equipment, critical in the road construction process. Modernisation of outdated infrastructure, especially in developed countries, is another factor contributing to the upswing of the market.
The versatility of compaction equipment finds its use across numerous industries, from construction to waste management, reinforcing the compaction equipment market growth. In the waste management industry, these machines play a critical role in compacting waste material in landfills, thereby optimising space and promoting environmental sustainability. The escalating concern about efficient waste management, therefore, leads to an increased demand for compaction equipment.
Moreover, technological advancements have brought forth innovative compaction equipment that provides real-time compaction data, enhanced efficiency, and lower environmental impact. Intelligent Compaction (IC) technology, for instance, offers GPS-based mapping, temperature monitoring, and onboard reporting systems. This technology not only enhances work efficiency but also contributes to saving time, cost, and ensuring quality control. This upsurge in technological advancements and the gradual shift towards automation further fuel the compaction equipment market expansion.
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Compaction Equipment Market Segmentation
The market can be divided based on type, application, end use, and region.
Market Breakup by Type
- Smooth Wheeled Roller
- Rammers
- Vibratory Roller
- Sheepsfoot Roller
- Pneumatic Roller
- Vibratory Plate Compactor
- Others
Market Breakup by Application
- Soil Compaction
- Concrete Compaction
- Others
Market Breakup by End Use
- Mining
- Engineering and Construction
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Compaction Equipment Market Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of the global compaction equipment companies. Some of the major key players explored in the report by Expert Market Research are as follows:
- Caterpillar Inc.
- Atlas Copco AB
- Hitachi Construction Machinery Co., Ltd.
- AB Volvo
- BOMAG GmbH
- Others
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