According to market projections, the demolition equipment industry is poised to expand at a 6% CAGR between 2021 and 2032. This growth is forecasted to result in a substantial increase in the market’s value, with it rising from US$ 902.91 million in 2021 to US$ 1713.99 million by the end of the projection period.
Demolition equipment is used to demolish old buildings by cutting concrete slabs, beams, and steel rodrodshese demolition equipment is used in conjunction with construction machines such as Backhoe Loaders, Material Handlers, Hydraulic Excavators, Multi Terrain Loaders, Track Loaders, Skid Steer Loaders, Track-Type Tractors, and others, as an attachment or individually remotely operated. Furthermore, for cutting or breaking down high-rise buildings, long-heighted demolition equipment is mounted to vehicles in order to properly cut the concrete walls, pillars, and so on. Furthermore, demolition equipment is employed to extract metal waste from waste stockpiles for s-craps recycling.
In numerous developing countries, regional governments are taking initiatives to create smart cities and town centres. To attain this goal, the government is renovating some towns to construct new buildings and also destroying very old buildings using demolition equipment.
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Demolition Equipment Market: Dynamics
Expansion in the construction industry, combined with significant initiatives to demolish very old and worthless multistory buildings, is likely to fuel demand for demolition equipment in the future years. Furthermore, an increasing number of smart city and smart building projects are expected to drive demolition equipment demand in the coming years. Some people in some localities are illegally constructing properties on government land. As a result, the government is dismantling those buildings with demolition equipment, which is likely to increase demand for demolition equipment in the next decades.
Irrespective of demolition equipment’s advantages, it is associated with high cost. Therefore, to purchase demolition equipment the basic requirement is funds which in turn may create headwinds in the sales growth in the demolition equipment market over the forecast period.
Nowadays, the advent of remotely operated demolition equipment is gaining fresh traction in the global demolition equipment market which is more powerful and can cut the concrete slab with high accuracy.
Demolition Equipment Market: Regional Outlook
Asia Pacific region is expected to hold 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 for demolition 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, and educational, among others. The Middle East and Africa are also expected to gain relatively moderate traction in the demolition equipment market.
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Demolition Equipment Market: Key Participant
Some of the market participants in the Demolition Equipment market are 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.
The research report on the Demolition Equipment market presents a comprehensive assessment and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. The Demolition Equipment market report also contains projections using a suitable set of assumptions and methodologies. The report provides analysis and information according to market segments such as geography, vehicle type, technology, material, install position, sales channel, and distribution channel.
The report covers an exhaustive analysis on:
- Demolition equipment Market Segments
- Demolition equipment Market Dynamics
- Demolition equipment Market Size
- New Sales of Demolition equipment
- Current Trends/Issues/Challenges in the Demolition equipment Market
- Competition & Companies Involved in Demolition equipment
- New Technology for Demolition equipment
- Value Chain of the Demolition Equipment Market
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Demolition Equipment Market: Segmentation
By Product Type:
- Buckets
- Grapples
- Hammers
- Multi Processors
- Pulverizers
- Shears
By Equipment Weight:
- 20-50 Tons
- 50-100 Tons
- More than 100 Tons
By End Use:
- Construction
- Mining
- Road Engineering
- Government & institutional
Report Highlights:
- Detailed overview of the parent market
- Changing market dynamics in the Demolition equipment market
- In-depth Demolition equipment market segmentation
- Historical, current, and projected Demolition equipment market size in terms of volume and value
- Recent industry trends and developments in the global Demolition Equipment market
- Competitive landscape
- Strategies of key players and products offered in the global Demolition Equipment market
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on Demolition equipment market performance
- Must-have information for market players in the Demolition equipment market to sustain and enhance their market footprint
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