The global pile driver market size was US$ 1,110.5 million in 2021. The global pile driver market is forecast to grow to US$ 1,831.0 million by 2030 by growing at a compound annual growth rate (CAGR) of 6.4% during the forecast period from 2022 to 2030.
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A pile driver is a machine that drives vertical structural pieces such as piles or poles to the earth in order to establish a foundation for buildings and other construction projects.
The market for pile drivers is forecast to grow at an exponential growth rate due to growing urbanization and favorable policies by governments. In addition, a growing number of developments in public infrastructure will contribute to the growth of the market. 89% of Brazil’s population lives in urban areas and is growing by 1.1 % annually. Thus, the growing urbanization will also contribute to the growth of the pile driver industry.
Growing infrastructure spending, mainly in Asian countries, will benefit the global pile driver market. According to the information by Council on Tall Buildings and Urban Habitat, DAMAC Properties unveiled a new residential tower in Dubai in Dubai Marina in September 2021. Thus, the growing infrastructure spending will benefit the global pile driver market.
Adherence to sound pressure level regulations may limit the growth of the market.
The emergence of innovative piling technologies will offer ample growth opportunities for the market. For instance, BSP introduced an improved line of piling systems, named the SL30 model and compact BH120, in the year 2017. The SL30 is efficient to drive Z piles in pairs.
The wake of the COVID-19 pandemic negatively affected the global pile driver market. It is due to the halt on construction activities. The concerns over health increased throughout the world. In addition, travel activities were all banned, which was a significant obstacle in continuing the construction activities. In addition, investments in infrastructure development were reduced drastically. As a result, all of these factors hampered the growth of the global pile driver market during the study period.
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The Asia-Pacific pile driver market is forecast to register an outstanding growth rate. It is owing to growing infrastructure development in emerging economies like China, Japan, and India. China is forecast to emerge as the prominent pile driver market due to the growing building construction industry. According to research by World Economic Forum, China is the largest building construction market in the world with up to 2 billion square meters constructed annually, which is almost half of the new construction globally.
Moreover, the infrastructure development in India is forecast to benefit the market during the study period. According to a study by World Bank, India is forecast to register 46% of Indians living in urban space by 2050.
ABI GmbH (Banut and Delmag)
The global pile driver market segmentation focuses on Product, Applications, and Region.
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Middle East & Africa (MEA)
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