As smart city developments and construction activities proliferate, they are setting the tone for the growth of the soil compaction market. Soil compaction machines are essential for any type of construction, thus necessitating their use, their consumption remaining unabated in the coming years. Fact.MR says demand for soil compaction machines is expected to grow ~1.4 times over the next decade thus propelling the market to reach US$ 9 Bn mark by the end of the forecast period.
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Road infrastructure is one of the key areas of government focus, and close to 35% of global infrastructure investment is likely to be diverted towards this. With government initiatives such as loans, an increase in investments, subsidies, and FDI, the construction of commercial spaces is increasing day by day. Furthermore, rise in population coupled with high demand growth for residential areas will also bolster the growth of soil compaction machines market.
Key Takeaways of Soil Compaction Machines Market
- Heavy compaction machines segment contributed 4X more revenue than light compaction machines in 2018. It is likely to maintain its lead over the forecast duration.
- Single drum rollers accounted for nearly half of the market size in the global soil compaction market in 2018. Also, the single drum rollers segment is estimated to grow by witnessing a slight decline owing to the growing preferences for other machinery such as pneumatic rollers and heavy tandem rollers.
- Fact.MR says that the demand for light compaction machines is expected to grow ~1.5 times over the next decade on the back of increased demand for asphalt-based roads.
- With an increase in road network projects in developing countries such as China and India, manufacturers are engaged in promulgating soil compaction machines to increase sales in the region. Thus Asia Pacific is anticipated to grow at a value CAGR of 5% during the forecast period.
“Key soil compaction machines manufactures are introducing upgraded machine models with an extended variety of features for end-users that offer high-performance” Says Fact.MR analyst.
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High Adoption in the Offing, with Attractive Financing Options
The rental business associated with soil compaction machines becomes the key trend among different construction areas including commercial, residential, and high-rise building projects. As these machines require a substantial initial investment, manufacturers are offering attractive financing options to increase their sales figures. For instance – flexible payment terms will help bolster sales. The increasing availability of financing has enabled construction industries in purchasing soil compaction machines without any significant impact on their budget.
Find More Valuable Insights on Soil Compaction Machines Market
Fact.MR, in its new offering, provides an unbiased analysis of the global soil compaction machines market, presenting historical demand data (2014-2018) and forecast statistics for the period, 2019-2028. The study divulges compelling insights on the soil compaction machines market on the basis of product type (heavy compaction machines: heavy tandem machines, single drum rollers, and pneumatic rollers), (light compaction machines: hand operated, light tandem rollers, and trench rollers), across seven regions.
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