“Global Hydraulic Attachments For Demolition Market to reach a market value of USD 5.5 Billion by 2030 growing at a CAGR of 5.4%”
The Global Hydraulic Attachments For Demolition Market size is expected to reach $5.5 billion by 2030, rising at a market growth of 5.4% CAGR during the forecast period.
Hydraulic attachments offer the flexibility to adapt to job site conditions and project specifications. Whether demolishing buildings, bridges, roads, or industrial structures, contractors can rely on hydraulic attachments to efficiently tackle diverse demolition tasks. Consequently, the Grapple segment would generate approximately 8.58 % share of the market by 2030. Additionally, this attachment can handle different materials, including concrete, steel, wood, and masonry, making them suitable for various demolition projects.
Safety is paramount in the construction and demolition, and hydraulic attachments are crucial in mitigating risks for operators and bystanders. Manufacturers integrate advanced safety features into attachments to enhance operator protection and minimize accidents. Therefore, owing to these factors, there will be enhanced demand for hydraulic attachments for demolition.
Additionally, urbanization places strain on existing infrastructure such as roads, bridges, utilities, and public transportation systems. Municipalities need to initiate infrastructure expansion and improvement initiatives to address the demands of expanding urban populations. Thus, these aspects can boost the demand for hydraulic attachments for demolition in the coming years.
However, Hydraulic attachments need to meet rigorous safety standards set by regulatory bodies such as OSHA. These standards dictate requirements for structural integrity, guarding, operator protection, and emergency shutdown procedures. Ensuring compliance with these standards adds complexity to the design and manufacturing processes, requiring thorough testing and certification procedures. Hence, these aspects can hamper the growth of the market.
On the basis of application, the market is bifurcated into mining & excavation and earth moving & demolition. The earth moving and demolition segment recorded the 80.52 % revenue share in the market in 2022. Construction and demolition companies are increasingly focused on improving efficiency and productivity to meet project deadlines and reduce costs. Hydraulic attachments enable faster and more precise earth moving and demolition tasks, leading to overall project efficiency gains. Thus, these aspects will boost the demand in the segment.
Based on end-user, the market is divided into construction, mining, waste management & recycling, and utility. In 2022, the mining segment witnessed a 17.77 % revenue share in the market. Hydraulic attachments enhance mining productivity by reducing downtime and streamlining operations. The growth in the mining sector is expected to increase the demand in the segment. Therefore, these factors will pose lucrative growth prospects for the segment.
Based on type, the market is segmented into breaker & hammer, crusher & shear, pulverizer, grapple, and others. The breaker & hammer segment held the 50.67 % revenue share in the market in 2022. Governments worldwide invest heavily in infrastructure development projects such as roads, bridges, railways, and airports. These projects often involve demolishing old structures and clearing sites, driving demand for breaker/hammer attachments. Hence, these aspects will boost the demand in the segment.
Free Valuable Insights: Global Hydraulic Attachments For Demolition Market size to reach USD 5.5 Billion by 2030
By region, the market is segmented into North America, Europe, Asia Pacific, and LAMEA. In 2022, the Asia Pacific segment acquired a 27.69 % revenue share in the market. Governments across the Asia Pacific region are making substantial investments in infrastructure projects, including railways, airports, roads, and bridges, to facilitate urban expansion and economic development. Hence, these factors will assist in the expansion of the segment.
| Report Attribute | Details |
|---|---|
| Market size value in 2022 | USD 3.6 Billion |
| Market size forecast in 2030 | USD 5.5 Billion |
| Base Year | 2022 |
| Historical Period | 2019 to 2021 |
| Forecast Period | 2023 to 2030 |
| Revenue Growth Rate | CAGR of 5.4% from 2023 to 2030 |
| Number of Pages | 267 |
| Number of Tables | 370 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Porter’s 5 Forces Analysis, Company Profiling, Companies Strategic Developments, SWOT Analysis, Winning Imperatives |
| Segments covered | Type, Application, End-User, Region |
| Country scope |
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| Companies Included | Sandvik AB, Atlas Copco AB, Indeco ind S.p.a, Soosan Corporation Co., Ltd., Genesis Attachments, LLC (NPK Construction Equipment, Inc.), Komatsu Ltd., Xcentric Ripper International, S.L (Grado Cero Sistemas, SLU), J C Bamford Excavators Ltd., Caterpillar, Inc., Hitachi Construction Machinery Co., Ltd. |
By Application
By End User
By Type
By Geography
The Market size is projected to reach USD $5.5 billion by 2030.
Rising Demand For Versatile Demolition Solutions are driving the Market in coming years, however, Rise In Cost Of R&D And Innovation restraints the growth of the Market.
Sandvik AB, Atlas Copco AB, Indeco ind S.p.a, Soosan Corporation Co., Ltd., Genesis Attachments, LLC (NPK Construction Equipment, Inc.), Komatsu Ltd., Xcentric Ripper International, S.L (Grado Cero Sistemas, SLU), J C Bamford Excavators Ltd., Caterpillar, Inc., Hitachi Construction Machinery Co., Ltd.
The Construction segment leading the Market by End-User in 2022 thereby, achieving a market value of $3.4 billion by 2030.
The Europe region dominated the Market by Region in 2022 thereby, achieving a market value of $1.8 Billion by 2030.
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