The demolition equipment market is anticipated to record a CAGR of 6% during the forecast period, up from US$ 902.91 Mn in 2021 to reach a valuation of US$ 1713.99 Mn by 2032.
The demolition equipment market is anticipated to show promising growth prospects during the forecast period.
Attributes
Details
Demolition Equipment Market Value (2021)
US$ 902.91 Mn
Demolition Equipment Market Value (2032)
US$ 1713.99 Mn
CAGR (2022-2032)
6%
Sales of demolition equipment are expected to rise due to people's changing preferences and the necessity to keep up with the times. In addition to this, demand for demolition equipment is rising due to the rapid changes in the engineering design components of infrastructures is changing.
This rapid change in building engineering design is one of the reasons contributing to the global demolition equipment market's growth. Regional regulation aimed at preventing illegal development or encroachment on existing structures and monuments has also encouraged the expansion of the demolition equipment market and increased the sales of demolition equipment.
Increasing structural engineering breakthroughs and improvements demand the rehabilitation of existing structures to improve their overall strength and durability. This is also projected to contribute to the growth of the demolition equipment market share.
Some of the key demolition equipment market trends promoting the demand for demolition equipment include remotely operated demolition equipment, which is more powerful and can cut the concrete slab with great accuracy. This factor is gaining traction in the global demolition equipment market.
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What are the Growth Propellers to the Demolition Equipment Market Share?
Over the next few years, growth in the construction industry, combined with significant measures to demolish very old and worthless multistory buildings, is likely to fuel demand for demolition equipment.
Furthermore, an increase in the number of smart city and smart building projects is expected to boost the sales of demolition equipment which is likely to boost the overall demolition equipment market. The government is deconstructing those structures with demolition equipment, which is likely to increase demand for demolition equipment in the next decades.
Regardless of the benefits of demolition equipment, it is connected with a significant cost. As a result, the primary necessity for purchasing demolition equipment is funded, which may cause headwinds in the sales of demolition equipment market's growth over the projection period.
The expanding investments in the construction sector are promoting the sales of demolition equipment, as well as fast urbanization in developing nations, are propelling the demand for demolitionequipment and adding growth to the demolition equipment market.
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Which is the Leading Region in the Demolition Equipment Market?
Asia Pacific region is expected to hold a considerable value share in the global demolition equipment market owing to increasing smart building projects coupled with rising urbanization.
Europe is expected to be the second-largest market for demolition equipment due to rising awareness of lightweight and high shock-absorbing building structures, which in turn shape the demand fordemolition equipment in the coming years.
North America is projected to grow with an addressable growth rate in the demolition equipment market due to increasing safety concerns towards multistory buildings.
Therefore, the government is making new buildings for various applications such as residential, educational, among others. As a result, the sales of demolition equipment in the Middle East and Africa are also expected to gain relatively moderate traction in the demolition equipment market.
Who are the Key Players in the Demolition Equipment Market?
Some of the key players in the demolition equipment market identified across the value chain Hitachi Construction Machinery Co., Ltd. Komatsu Europe International N.V., Kobelco Construction Machinery Europe B.V., Hughes & Salvidge Limited, AB Volvo Atlas Copco (India) Ltd., Caterpillar McClung-Logan Equipment Company, Inc. Brokk UK Ltd, BAUER Equipment India Pvt. Ltd, (BEI) Soosan USA, Inc., Company Wrench Hyundai Construction Equipment India Pvt. Ltd.
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Scope Of Report
Report Attribute
Details
Growth rate
CAGR of 6% from 2022 to 2032
Base year for estimation
2021
Historical data
2015 - 2020
Forecast period
2022 - 2032
Quantitative units
Revenue in USD billion, volume in kilotons, and CAGR from 2022 to 2032
Report coverage
Revenue forecast, volume forecast, company ranking, competitive landscape, growth factors, and trends, Pricing Analysis,
Segments covered
Product type, Equipment weight, end use, region
Regional scope
North America; Western Europe, Eastern Europe, Middle East, Africa, ASEAN, South Asia, Rest of Asia, Australia and New Zealand
Country scope
U.S.; Canada; Mexico; Germany; U.K.; France; Italy; Spain; Russia; Belgium; Poland; Czech Republic; China; India; Japan; Australia; Brazil; Argentina; Colombia; Saudi Arabia; UAE; Iran; South Africa
Key companies profiled
Hitachi Construction Machinery Co., Ltd. Komatsu Europe International N.V., Kobelco Construction Machinery Europe B.V., Hughes & Salvidge Limited, AB Volvo Atlas Copco (India) Ltd., Caterpillar McClung-Logan Equipment Company, Inc. Brokk UK Ltd, BAUER Equipment India Pvt. Ltd, (BEI) Soosan USA, Inc., Company Wrench Hyundai Construction Equipment India Pvt. Ltd.
Customization scope
Free report customization (equivalent to up to 8 analysts working days) with purchase. Addition or alteration to country, regional & segment scope.
Pricing and purchase options
Avail customized purchase options to meet your exact research needs.
Frequently Asked Questions
What is the Growth Outlook for the Demolition Equipment Market?
The demolition equipment market is likely to register a CAGR of 6% during the forecast period.
Who are the Key Players in the Demolition Equipment Market?
Key players holding substantial demolition equipment market share include Hitachi Construction Machinery Co., Ltd. Komatsu Europe International N.V., Kobelco Construction Machinery Europe B.V., Hughes & Salvidge Limited, AB Volvo Atlas Copco (India) Ltd.
What is the Future of the Demolition Equipment Market?
As per the analysis, the demolition equipment market: share is likely to be US$ 1713.99 Mn by 2032.
Which is the Key Driver in the Demolition Equipment Market?
Demand for demolition equipment is likely to rise due to growth in the construction industry, combined with significant measures to demolish old and worthless multistory buildings.
