Global Demolition Equipment Market: An Overview
The task of demolition has become tougher with the day. Advances in engineering of machinery has enabled manufacturers provide equipment that are not only robust and sturdy but also ensure the safety of operators. New hydraulics has been incorporated with demolition equipment, the working range of machines has been expanded, and their uptime has seen vast improvement over the years. Thus the demolition market has seen constant unveiling of technologies that can meet the demanding 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 range of services. Industrial robotics has paved way for new technological avenues in the demolition equipment market.
The types of machinery to which demolition equipment has been attached to include backhoe loaders, wheel loaders, material handlers, hydraulic excavators, track loaders, skid steer loaders, and multi terrain loaders.
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Global Demolition Equipment Market: Growth Dynamics
The demolition equipment market is witnessing new growth dynamics in scrap recycling applications. A steady force behind this is the growing approach of the construction industry toward sustainable materials management approach.
The growing popularity of machine-mounted machinery for demolition has been a key trend shaping the dynamic of 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 has unlocked a new potential in the demolition equipment market. Over the past few years, the concept of smart cities has gained traction in numerous countries world over. This has spurred the demand for demolition equipment to demolish aging infrastructures. Growing spending of governments in reconstruction works in these countries are helping in catalyzing the high sales of demolition equipment.
Global Demolition Equipment Market: Notable Developments
In recent years, remotely controlled demolition equipment has offered fresh stream of revenues to the demolition equipment market. This has been driving the demand for state-of-the-art electrical systems to improve the performance of demolition equipment. A case in point is a series of remote-controlled demolition machines unveiled by Brokk AB. It has 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.
Some of the prominent players operating in the demolition equipment market are:
- McClung-Logan Equipment Company, Inc.
- Caterpillar Inc.
- AB Volvo
- Hughes & Salvidge Limited
- Komatsu Europe International N.V.
- Hitachi Construction Machinery Co., Ltd.
- Hyundai Construction Equipment India Pvt. Ltd.
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Global Demolition Equipment Market: Regional Outlook
The key regional markets for demolition equipment are North America, Europe, the Middle East and Africa, Asia Pacific, and Latin America. Growing numbers of smart building constructions in emerging economies are underpinning lucrative avenues in some regions. Among all the key regions in the demolition equipment market, Asia Pacific has shown extraordinary revenue potential, with the growth increasingly fueled by swelling investments in infrastructure developments. Europe has also been a potentially lucrative region in the demolition equipment market. Technological advancements in machine-mounted machinery are helping cement the potential of the regional market. Meanwhile, North America has remained an increasingly attractive market. The potential is driven by uptake of new technologies in challenging demolition projects.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers’ or customers’ journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
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