About the Pile Driving Equipment Market
Prior to the start of construction, the soil is analyzed for load-bearing capacity. Deep foundations are essential when the soil is not stable to sustain heavy loads. The depth of the foundation is calculated by the extent of stability of the soil present under the ground surface.Pile foundation maintains safety in multi-story buildings and provides reinforcement against seismic activity and wind forces. The pile foundations act like a rock platform to provide a strong base.
Technavio’s analysts forecast the global pile driving equipment market to grow at a CAGR of 6.47% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the global pile driving equipment market for 2016-2020. For the calculation of market size, the revenue generated from the sale of pile driving equipment across the globe has been considered.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Pile Driving Equipment Market 2016-2020
Technavio recognizes the following companies as the key players in the global pile driving equipment market: BAUER, Casagrande, FAE SpA, and Soilmec SpA.
Other Prominent Vendors in the market are: American Piledriving Equipment, Ashok Industries, BRUCE Piling Equipment, Changsha Tianwei Engineering Machinery Manufacturing, Dieseko, IHC FUNDEX Equipment, Junttan, PTC, Sany Beijing Heavy Machinery, Xuzhou Hercules Machine Manufacture, and Zhengzhou Defy Mechanical & Electrical Equipment.
Commenting on the report, an analyst from Technavio’s team said: “A trend that is boosting market growth is the emergence of innovative piling technologies. To increase the performance and efficiency of pile driving equipment, manufacturers are developing various technologies such as load testing, integrity testing, and sonic drilling. Sheet piling is increasingly gaining popularity and it is a part of the foundation process. Reinforced concrete sheet piles and steel sheet piles are generally used for deep excavations.”
According to the report, a key growth driver is the rise in public infrastructure development. The increased investment in infrastructure development worldwide has resulted in a surge in the number of construction projects. This, in turn, will propel the demand for pile driving equipment during the forecast period. The global infrastructure spending will likely reach $9.1 trillion by 2025, as compared to $4.1 trillion in 2012. Thus, $78 trillion is anticipated to be spent between 2014 and 2025 for the development of infrastructure globally.
Further, the report states that one challenge that could impact market growth is the adherence to sound pressure level regulations.
BAUER, Casagrande, FAE SpA, Soilmec SpA, American Piledriving Equipment, Ashok Industries, BRUCE Piling Equipment, Changsha Tianwei Engineering Machinery Manufacturing, Dieseko, IHC FUNDEX Equipment, Junttan, PTC, Sany Beijing Heavy Machinery, Xuzhou Hercules Machine Manufacture, Zhengzhou Defy Mechanical & Electrical Equipment.
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