The change during the COVID-19 pandemic has upgraded our reliance on trend setting innovations, for example, augmented reality, virtual reality, and the industrial internet of things. The unfulfilled money related targets are convincing the associations to embrace robotization and cutting edge innovations to remain ahead in the market rivalry. Organizations are using this open door by distinguishing day by day operational needs and teaching robotization in it to make a computerized framework as long as possible.
Persistence Market Research delivers key insights on the global vibratory hammer market in its latest report titled “Vibratory Hammer Market: Global Industry Analysis 2013 – 2017 and Forecast 2018 – 2026”, which examines the vibratory hammer market and offers critical insights for the next eight years. Based on the findings specified in the report, the vibratory hammer market is expected to witness steady growth over the forecast period, led by increasing investments in infrastructural development and offshore wind farms. The long-term outlook for the global vibratory hammer market is expected to remain positive and the market is expected to expand at a CAGR of 4.5% during the forecast period (2018–2026).
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Global Vibratory Hammer Market: Dynamics
Recovery in the construction industry across the globe is accelerated by the steady growth in population, which is resulting in growth in the demand for construction equipment. This, in turn, will propel the growth of the vibratory hammer market. Furthermore, technological advancements in hydraulic fracturing have resulted in a major shift from conventional utilities production to non-conventional shale gas and tight oil production. Growing production of shale gas and tight oil, especially in the U.S. and Canada, is expected to result in an increase in foundation works for production facilities and thus, is likely to amplify the demand for vibratory hammers.
Another prime factor expected to drive the growth of the vibratory hammer market is increasing investment for the development of offshore wind farms to meet the renewable energy targets. Despite having significant market potential, the vibratory hammer market is expected to face stiff competition from impact hammers and a large rental fleet. The rental business is expected to hamper the growth of the vibratory hammer market as construction contractors mostly prefer to rent equipment rather than owning new vibratory hammers.
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Global Vibratory Hammer Market: Segmentation Overview
- On the basis of mounting type, the vibratory hammer market has been segmented into excavator mounted and crane mounted. Excavator mounted vibratory hammers dominated the global market in 2017 and the segment is estimated to witness steady growth during the forecast period, which can be attributed to the higher efficiency, compact size, lightweight and ease of maintenance of excavated mounted vibratory hammers. Excavator mounted vibratory hammers provide an advantage of working in low head room and narrow spaces, thereby increasing workability
- On the bases of centrifugal force, the 1000 – 2000KN vibratory hammer segment is estimated to witness significant growth during the forecast period, due to the high demand for the construction industry. In terms of value, 1000 – 2000KN and 2000 – 3000KN segments account for a dominating share in the global vibratory hammer market
- On the bases of end use, the vibratory hammer market has been segmented into construction and offshore. Among the sub-segments under the construction segment, infrastructural is expected to dominate the market and is expected to be the key driving factor for the growth of the market. Among the sub-segments under the offshore segment, the oil & gas segment is expected to be dominant while the wind farm segment is pegged to witness robust growth despite the smaller base
Global Vibratory Hammer Market: Regional Overview
North America, followed by Western Europe, dominated the global vibratory hammer market in 2017. APEC and China are pegged to be the most lucrative regions for the growth of the vibratory hammers market and this growth can be attributed to the noteworthy investment towards infrastructural development and strong economic outlook. Further, the top 7 countries in the vibratory hammer market account for about half of the overall market. The vibratory hammer market is expected to witness significant growth in developing economies over the forecast period, owing to the rapid growth of the construction industry.
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- Guangdong Liyuan Hydraulic machinery Company Ltd
- EMS GROUP
- International Construction Equipment
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