The global pile driver market size is expected to grow from USD 1,106.5 million in 2020 to USD 1,631.0 million by 2027, at a CAGR of 6.4% from 2021 to 2027. The market for pile drivers is still evolving and expanding. Pile driving is the technique of driving vertical structural pieces into the earth, such as piles or poles, to establish a foundation for structures, buildings, and other construction projects. When the bedrock is deep and other foundation techniques aren’t available, pile foundations are required for construction. Furthermore, pile foundations provide robust support to structures if the soil is too wet near the surface. Pile foundations are typically used to build systems that are very massive or have high and concentrated loads.
Further, the significant factors driving the market growth include an increase in public infrastructure development, growth in high-rise building construction, and an increase in infrastructure spending in key Asian countries. For instance, Council on Tall Buildings and Urban Habitat reported that in September 2021, DAMAC Properties announced the launch of a residential tower in Dubai in Dubai Marina. Cavalli Tower, a 70-story building overlooking Palm Jumeirah Island, is anticipated to attract Russian and European clients interested in the Cavalli brand. Thus, the rising construction of high-rise buildings is to drive the market growth during the forecast period.
Get PDF for more Professional and Technical insights: https://www.marketstatsville.com/request-sample/pile-driver-market
Global Pile Driver Market Dynamics
Drivers: Increase in public infrastructure development
The continuous government spending for infrastructure development across the globe is driving the pile driver market growth during the forecast period. For instance, through the Infrastructure for Rebuilding America (INFRA) discretionary grant program, the US Department of Transportation announced that it plans to invest $906 million in America’s infrastructure. To repair roadways, bridges, ports, and trains across the country, funds will be granted to twenty projects in twenty states. The INFRA discretionary grant program and providing direct federal financing aim to increase infrastructure investment from all levels of government and the private sector. The Federal Transit Administration (FTA) of the United States Department of Transportation announced $400 million in federal funding for four transit infrastructure projects in Arizona, Indiana, Missouri, and New Jersey.
Besides, in April 2021, the State of Florida announced that it is increasing infrastructure projects. The state is expanding construction on the $2.3 billion I-4 Ultimate project in Orlando and the $865 million Howard Frankland Bridge project between Tampa and St. Petersburg, a road-widening project in Palm Beach County, among others. The State of Illinois announced $39.5 million for 27 projects to build modern infrastructure and support continued development across the state. Thus, the growth in investments and government spending for infrastructure development such as building and construction industry, across the globe is raising the demand for a pile driver.
Restraints: Adherence to sound pressure level regulations
Pile driver is one of the most intense anthropogenic noise sources in the marine environment. Each foundation pile may require up to several thousand strokes of high hammer energy to be driven to the embedded depth. Therefore, adequate mitigation measures to prevent and reduce the impact of pile driving noise should be part of a regulation. The role of regulators is to demonstrate and assess the applicability, efficiency, and effectiveness of noise mitigation measures. Various governments are providing data for occupational noise exposure. The Center for Disease Control (CDC) estimates that around 22 million workers are exposed to damaging noise at work each year. Hearing loss is preventable whether the employees work at a sports venue, on a tarmac, or operate a jackhammer. Besides, OSHA has set regulations for sound level exposure. For instance, with noise, OSHA’s permissible exposure limit (PEL) is 90 dBA for all workers for an 8 hour day. Thus, the noise through the pile driver, which is harming the employees who are using pile drivers in various industries, is the factor that is hampering the market growth during the forecast period.
Opportunities: Emergence of innovative piling technologies
The major players in the pile driver market are developing new products with the latest technologies to create opportunities for market growth during the forecast period. For instance, in December 2017, Mike Woof writes UK company BSP offered an improved range of piling systems, named SL30 model and compact BH120. The SL30 can be used to drive Z piles in pairs, and its hammer has a drop weight of 2.5tonnes, delivering impact energy of 30kNm at up 84blows/minute. The SL piling hammer is developed for driving sheet piles and small bearing piles and is available with legs and inserts for use when freely suspended or with backguides for operating from a piling mast. The offered control of hammer stroke and blow rate and also match the energy required to piling needs. A double-acting cylinder produces high impact energy from a short-stroke, allowing a high blow rate. Its slim design means that the hammer can also pass between existing upstanding piles. Thus, the innovation in the technologies, such as the availability of piling drivers with more features by the major players, is the factor in creating market growth opportunities.
You Can Purchase Complete [email protected] https://www.marketstatsville.com/buy-now/pile-driver-market?opt=2950
Scope of the Report
The study categorizes the pile driver market-based product type and applications at the regional and global levels.
By Product Type (Revenue, USD Billion, 2017-2027)
- Static Pile Drivers
- Piling Hammers
- Piling Rigs
- Casing Rotator
By Applications (Revenue, USD Billion, 2017-2027)
- Buildings Construction
- Transport Infrastructure Construction
By Region (Revenue, USD Billion, 2017-2027)
- North America (US, Canada, Mexico)
- South America (Brazil, Argentina, Colombia, Peru, Rest of Latin America)
- Europe (Germany, Italy, France, UK, Spain, Poland, Russia, Slovenia, Slovakia, Hungary, Czech Republic, Belgium, the Netherlands, Norway, Sweden, Denmark, Rest of Europe)
- Asia Pacific (China, Japan, India, South Korea, Indonesia, Malaysia, Thailand, Vietnam, Myanmar, Cambodia, the Philippines, Singapore, Australia & New Zealand, Rest of Asia Pacific)
- The Middle East & Africa (Saudi Arabia, UAE, South Africa, Northern Africa, Rest of MEA)
The building construction segment of the pile driver market is projected to account for the largest share by application
The pile driver market has been segmented into building construction, transport infrastructure construction, and others based on the application. The building construction segment accounted for the largest share in the global pile driver market in 2020. Pile driver is widely used in construction industries. The rising building and construction industry across the globe has led to an increase in the demand for pile drivers. For instance, according to the AGC (The Construction Association), construction is a significant contributor to the U.S. economy. The industry has more than 733,000 employers with over 7 million employees and creates nearly $1.4 trillion worth of structures each year. Construction is one of the largest customers for manufacturing, mining, and a variety of services.
Furthermore, in China, 50 trillion-yuan worth of contracts were signed by the construction enterprises in 2018. In 2019, China Railway Construction Corporation announced that the newly signed contracts for the first three quarters of 2019 rose 25.07% from 2018 to 1.112 trillion yuan. In the same vein, the value of contracts spiked 40.3% to 396.54 billion yuan for the third quarter. Thus, the rising global government projects and the building and construction industry drive market growth during the forecast period.
Asia Pacific accounts for the highest CAGR during the forecast period
Based on the regions, the global pile driver market has been segmented across North America, Asia-Pacific, Europe, South America, and the Middle East & Africa. The main countries, namely, China, India, Japan, South Korea, Australia, Southeast Asia, and the Rest of Asia-Pacific, are analyzed. Asia-Pacific holds a significant position in the global pile driver market. China accounted for a substantial share of this market in 2020, and India is expected to experience rapid growth during the forecast period.
Request for Complete TOC and Figures & Graphs @ https://www.marketstatsville.com/table-of-content/pile-driver-market
China holds a significant share of the pile driver market due to the most prominent building construction industry. However, developing countries such as India, Singapore, Hong Kong, Taiwan, and others have been recognized as important markets due to rapid growth in building and construction. The exponential growth of the construction industry in developing countries has opened up new opportunities for market players. Countries including China, India, South Africa, and Brazil are investing significantly in the construction industry. As per the Department for Promotion of Industry and Internal Trade (DPIIT), in India, FDIs in the construction sector stood at $29.53 billion and $23.99 billion between April 2020 and December 2020, respectively.
As per the World Economic Forum, China is the largest building construction market globally, with up to 2 billion square meters constructed annually, accounting for half of the new construction globally. Further, the rapid urbanization in the emerging economies is expected to boost the spending in vital infrastructure sectors such as power, construction, and transportation. As per the World Bank, by 2025, India will have 46% of Indians living in urban space. In Brazil, 89% of the country’s entire population lives in urban areas. The urban population in Brazil is growing by 1.1 % each year. Additionally, in 2017, there was a shortage of more than 6 million housing units.
Request For Report Description @ https://www.marketstatsville.com/pile-driver-market
Key Market Players
The pile driver market is mildly concentrated in nature, with few numbers global players operating in the market, such as PTC, XCMG, ABI GmbH (Banut and Delmag), Hitachi, Sunward, Caterpillar, Bauer, Liebherr, Sany, Junttan, Vermeer, and Atlas Copco, among others. The other market players include Nippon Sharyo, Soilmec SpA, American Piledriving Equipment (APE), and Casagrande. These players have been adopting various winning strategies to gain higher shares or retain leading positions in the market.