Demolition Equipment Market: Introduction
- The task of demolition is becoming tougher by the day. Advances in engineering has enabled manufacturers to develop equipment that are not only robust and sturdy but also ensure the safety of operators. New hydraulics have been incorporated in demolition equipment, the working range of machines has been expanded, and their uptime has seen vast improvement over the years. The market for demolition equipment is expected to expand significantly during the forecast period.
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Key Drivers and Opportunities of Global Demolition Equipment Market
- Rise in popularity of machine-mounted machinery for demolition has been a key trend driving the demolition market. Advances in the way methodology and equipment are used for high-scale demolition, new technologies have come to the fore and reduced the time spent onsite as well as cost. Rapid pace of urbanization is estimated to further propel the market for demolition equipment during the forecast period.
- The concept of smart cities has been gaining traction in numerous countries globally for the last few years. This has fueled the demand for demolition equipment to demolish aging infrastructure. Increased spending of governments in reconstruction works in these countries is fueling the sales of demolition equipment and subsequently, is estimated to propel its demand during the forecast period.
- The demolition equipment market has witnessed consistent evolution of technologies that can cater to the requirements of end-users. Countries where demolitions are common, such as earthquake-prone nations, have shaped the demand dynamic of the overall demolition equipment market. Manufacturers have also expanded their foothold by offering a range of services, which in turn is expected to boost the market during the forecast period. Industrial robotics has paved the way for new technological avenues in the demolition equipment market. This is expected to drive the market for demolition equipment during the forecast period.
- Remotely controlled demolition equipment have been gaining popularity in the demolition equipment market. This has been driving the demand for state-of-the-art electrical systems to improve the performance of demolition equipment. Manufacturers have been focusing on making electrical system powerful enough to support the high-performance requirements of demolition works, particularly in the mining industry. Changing demands underpin the constant feature advancements by prominent manufacturers, which is expected to drive the market for demolition equipment during the forecast period.
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Asia Pacific and Europe to Hold Major Share of Global Demolition Equipment Market
- In terms of geography, the Demolition Equipment market can be divided into North America, Europe, Asia Pacific, Middle East & Africa, and South America
- Asia Pacific is a highly lucrative region of the global market, due to rising investments in infrastructure development in the region. Furthermore, Europe has also been a potentially lucrative region of the demolition equipment market. Technological advancements in machine-mounted machinery are helping cement the potential of the market in the region.
Key Players Operating in Global Demolition Equipment Market
- AB Volvo
- Caterpillar Inc.
- Doosan Corporation
- Hitachi Construction Machinery Co., Ltd.
- Hughes & Salvidge Limited
- Hyundai Construction Equipment India Pvt. Ltd.
- Kobelco Construction Machinery Europe B.V.
- Komatsu Europe International N.V.
- Liebherr Group
- McClung-Logan Equipment Company, Inc.
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