Compaction Machines Market with a Projected CAGR of 6.4%, Expected to Attain a Market Share of US$ 10.42 Billion by 2033 | Future Market Insights, Inc.

The outlook for compaction machine manufacturers in China appears promising as the nation experiences continued growth in residential and commercial development. Increased household income and rural-to-urban migration are driving this demand. The United States region is poised for a positive performance in the compaction machines market, driven by a growing demand for smart cities and increased government investments in new construction projects.

NEWARK, Del, Jan. 10, 2024 (GLOBE NEWSWIRE) — The compaction machines market is anticipated to thrive at a steady CAGR of 6.4% between 2023 and 2033. The market is expected to have a market share of US$ 10.42 billion by 2033, while it is likely to be valued at US$ 5.60 billion in 2023.

• Governments working for the advancement of waste compression and management systems, enhanced construction activities, and industrial applications help the market expand its boundaries. Furthermore, the new efficient and productive technology also helps increase these machines’ sales.
• Growing businesses, along with private waste management companies, are offering different ranges of services while also providing all-scale machines for specific industrial operations. Hence, higher sales are expected during the forecast period.
• The waste management skills of compaction machines make it a high requirement for different sectors. These sectors involve hospitality, medical services, residential societies, biomass plants, and water facilities.
• Different types of compaction equipment at construction sites vary with the applications. Brands are introducing new machines such as smooth-wheeled rollers, sheep foot rollers, pneumatic rollers, vibratory rollers, rammers, and plate compactors.
• Agriculture and soil renovation projects also use these rollers and compactors for the sand-gravel mixes, turning them into fine-grained soil. The long range of applications, advanced technology, and integration with robotics and autonomous machinery is anticipated to transform the future of the market.

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Key Points

1. The United States market leads the North American compaction machines market in terms of market share in North America. The United States held a market share of 18.5% in 2022. The factors attributed to the growth are the restoration of construction activities and industrial expansion. The advent of autonomous machinery for the compression of waste is also popular in the regional market.
2. The German compaction machines market held a market share of 3.4% in 2022. The market growth is caused by the government advancing waste management and industrial site set-up.
3. The Indian market thrives at a steady CAGR of 6.3% between 2023 and 2033. The growth is attributed to the penetration of advanced waste management and government-run campaigns for cleanliness and waste program
4. The Chinese market also thrives at a CAGR of 6.6% during the forecast period.
5. Based on the product type, the heavy compaction machine segment leads the market, as it held a market share of 71.9% in 2022.

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Competitive Landscape

The key vendors focus on building durable, reliable, affordable, and efficient machines for all users. The competitors also merge, acquire, and partner with other companies to increase their supply chain and distribution channel.

Key Players

• AB Volvo
• Caterpillar Inc.
• Terex Corporation
• BOMAG GmbH
• Wacker Neuson SE
• XCMG Co. Ltd
• Zoomlion Heavy Industries Science and Technology Co Ltd
• Atlas Copco
• Wirtgen Group
• Sany Heavy Industries Co Ltd
• AMMANN GROUP

Recent Market Developments

• AB Volvo has introduced the high-performance soil compaction machine with increased operating weight and 31.40 to 153 KW rated engine power. The machine comes with high-quality components, a visible operator environment, and a low-fuel-consumption engine.
• Caterpillar Inc has launched the Cat Compact with machine driver power (MDP) that offers energy-based measurement that provides moisture-detecting technology as well.

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Key Segments Covered

By Product Type:

• Heavy compaction machines
  • Heavy tandem roller
    • 5 to 8 Tonne
    • 8 to 11 Tonne
    • > 11 Tonne
  • Single drum roller
    • 3 to 5 Tonne
    • 5 to 8 Tonne
    • 8 to 12 Tonne
    • 12 to 15 Tonne
    • > 15 Tonne
• Pneumatic roller
• Light compaction machines
  • Hand operated machines
    • Rammer
    • Vibratory plates (forward)
    • Vibratory plates ( reverse)
    • Walk behind roller
  • Light tandem roller
    • < 1.8 Tonne
    • 8 to 3 Tonne
    • 3 to 5 Tonne
  • Trench roller

Key Regions Covered:

• North America
• Latin America
• Europe
• Japan
• Asia Pacific Excluding Japan
• The Middle East and Africa

Author

Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.

His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.

Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.

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