Rockville, Sept. 28, 2023 (GLOBE NEWSWIRE) -- The global soil compaction machines market stands at US$ 5.4 billion in 2023 and is projected to reach US$ 10.6 billion by the end of 2033. As per this study by Fact.MR, a market research and competitive intelligence provider, Asia Pacific is estimated to account for a significant share of the global market by the end of the study period (2023 to 2033).
Rising demand for soil compaction machines can be attributed to several prospects such as a growing world population, increasing investments in infrastructure development, and rapid industrialization around the world. Advancements in equipment technology are resulting in the development of more efficient and effective heavy construction equipment, which in turn, is creating an opportune scenario for soil compaction machine sales going forward.
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Soil compaction machine manufacturers are continually innovating and launching new products that allow them to maximize their sales and revenue generation potential to stay competitive in the global landscape.
- In 2022, Ammann Group, a renowned Swiss supplier of construction equipment, announced the launch of two new roller machines with good compacting capabilities. Both ARS 30 and ARS 50 were single drum rollers designed to deliver high compaction.
| Report Attributes | Details |
| Value Projection (2033) | US$ 10.6 Billion |
| Growth Rate (2023-2033) | 6.8% CAGR |
| No. of Pages | 170 pages |
| No. of Tables | 92 Tables |
| No. of Figures | 85 Figures |
Key Takeaways from Market Study
- The global soil compaction machines market stands at a valuation of US$ 5.4 billion in 2023.
- Demand for soil compaction machines is projected to expand at a CAGR of 6.8% from 2023 to 2033.
- Soil compaction machine sales are forecasted to reach US$ 10.6 billion by the end of 2033.
- Increasing investments in infrastructure development activity, high demand for affordable housing, launch of new construction projects, rapid industrialization and urbanization, and launch of new soil compaction machines are key market drivers.
- Soil compaction machine sales in Asia Pacific account for around 25% revenue share of the global market in 2023.
- Sales of soil compaction machines in China are projected to increase at 6.5% CAGR over the next ten years.
- Heavy soil compaction equipment accounts for more than 70% of the global market revenue at present.
“India, China, Kingdom of Saudi Arabia, and the United Arab Emirates are estimated to offer highly lucrative growth opportunities,” says a Fact.MR analyst
Key Companies Profiled in This Report
- Caterpillar Inc.
- Volvo Construction Equipment
- J.C. Bamford Excavators Limited
- John Deere
- Zoomlion Heavy Industries Science & Technology Co. Ltd.
- XCMG Co. Ltd.
- Sany Heavy Industries Co. Ltd.
- Fayat Group
- Hitachi Construction Machinery
- Wacker Neuson SE
Winning Strategy
Development of soil compaction machines with advanced compaction capabilities is the prime focus of all soil compaction machine suppliers. Companies should also experiment with the automation of soil compaction equipment as the popularity of industrial automation increases around the world.
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Country-wise Insights
For the coming years, it is anticipated that industrialized nations such as the United Kingdom, the United States, and Germany will also open up new potential for manufacturers of soil compaction machines.
What trends are affecting the sales of soil compaction machines in Europe?
"Sustainability to Offer New Opportunities for Suppliers of Soil Compaction"
Given that soil is a key element of a sustainable lifestyle, the fact that European nations are leading the sustainability drive has produced a highly advantageous situation for suppliers of soil compaction equipment. Shipments of soil compaction equipment are increasing in European nations during the course of the study period as a result of a high emphasis on efficient land use, the start of new renewable energy plant construction projects, and a growing focus on sustainable development activity.
Where in the US Will Demand for Soil Compaction Machines Be High?
"Applications in Residential Construction to Drive Market Development"
The need for inexpensive housing in the country has resulted in a boom in the residential construction industry in the United States in recent years. Future potential for suppliers of soil compaction machines are expected to be attractive due to the start of several new residential and commercial construction projects.
Over the next 10 years, it is anticipated that increasing demand for soil compaction machine rental services in the nation would boost sales of goods including soil compaction plates, soil compaction rammers, and soil compaction rammers. To increase their market share in the United States, makers of soil compaction machines are concentrating on the introduction of new products.
More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global soil compaction machines market, presenting historical demand data (2018 to 2022) and forecast statistics for the period (2023 to 2033).
The study divulges essential insights on the market based on product type (heavy compaction machines, light compaction machines) and application (building & construction, infrastructure, transport, others), across five major regions of the world (North America, Europe, Asia Pacific, Latin America, and MEA).
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About Fact.MR:
Fact.MR is a distinguished market research company renowned for its comprehensive market reports and invaluable business insights. As a prominent player in business intelligence, we delivers deep analysis, uncovering market trends, growth paths, and competitive landscapes. Renowned for its commitment to accuracy and reliability, we empowers businesses with crucial data and strategic recommendations, facilitating informed decision-making and enhancing market positioning. With its unwavering dedication to providing reliable market intelligence, FACT.MR continues to assist companies in navigating dynamic market challenges with confidence and achieving long-term success. With a global presence and a team of experienced analysts, FACT.MR ensures its clients receive actionable insights to capitalize on emerging opportunities and stay ahead in the competitive landscape.
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