Compaction Equipment Market: Global Industrial Analysis and Forecast (2023-2029)

Compaction Equipment Market was valued US$ 5.21 Bn in 2022 and is expected to reach US$  8.04 Bn by 2029, at a CAGR of 6.4% during the forecast period.
Compaction Equipment Market Introduction
A machine that is used to eliminate air from the soil and achieve high density. Rollers especially wheeled rollers, are mostly used as compaction equipment. The weight of the compaction can be increased by filling sand or water ballast in the hollow cylinder. Compaction equipment is used to compress and/or compact different types of materials at a work site. In construction sites different tools and machines are used for different purposes, such as waste around the work area is compacted and then disposed of or loose soil around the worksite is compacted before the start of the actual construction work.To know about the Research Methodology :- Request Free Sample Report
Compaction Equipment Market Dynamics
The rise in construction in smart cities, also the increase in transport construction acts as a major driver for the market. Also, the rapid urbanization fuels the demand for the market as it gives rise to a large number of demolition sites and new construction sites. The demand for compaction equipment is the huge investments being made by governments for improving infrastructure. There are numerous ongoing & upcoming projects for roads and dams, which in turn, will spur the demand for compaction equipment during the forecast period.

Moreover, the increasing population, which will lead to growth in demand for residential projects, will also support the demand for compaction equipment in the forecast period. Renting and leasing will be trending opportunities in the market. Compaction equipment is relatively expensive and hence, most customers prefer to either rent or lease compaction equipment.
Compaction Equipment Market Segment Analysis
While compaction equipment is mostly used to compress loose soil, but owing to a variety of compaction equipment available today, this equipment has found a way in all types of construction activities, right from building roads to constructing industrial complexes. This equipment can compress loose soil, rocks, landfill debris, road surfaces, and other materials to a particular density level, so that the ground does not cave with the use or over a period of time.

Companies are investing in compaction equipment and related products mainly in APAC and MEA, where a large number of infrastructure development projects are in progress. Developing economies have a large number of projects ongoing in terms of engineering and construction. Government bodies are focusing on structured facilities such as hospitals, transportation, and tourism, which is boosting the market for compaction equipment.
Compaction Equipment Market Regional Insights
The market in the Asia Pacific is projected to expand at a considerable pace during the forecast period, due to attractive investments in infrastructure development in developing economies and a rise in investments in compaction equipment and related products in the region. Developing countries such as India, China, Taiwan, and Indonesia have a large number of ongoing infrastructure development projects. This factor is expected to augment the demand for compaction equipment in these countries from 2022 to 2029. For the purpose of infrastructural development of smart cities, compaction equipment will surely be required.

Europe and North America are expected to witness steady growth in the forecast period. European and North American countries have strict governmental laws for protection from security threats.
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Global Compaction Equipment Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2018 to 2022
Market Size in 2022:
US $ 5.21 Bn.


Forecast Period 2023 to 2029 CAGR:
6.4%
Market Size in 2029:
US $ 8.04 Bn.


 Segments Covered:
by Type
Light Soil Compacting Equipment
Rammers
Vibro Tampers
Vibrating Plate Compactors
Heavy Soil Compacting Equipment


by Construction Type
Dams
Roads
Bridges
Others


by End Use
Mining
Engineering and construction



Compaction Equipment Market, by Region
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
North America (United States, Canada and Mexico)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (Brazil, Argentina Rest of South America)
Compaction Equipment Market Includes major Key Players are:
1. Hitachi Construction Machinery
2. JCB
3. Atlas Copco
4. Deere & Company
5. Bomag
6. CASE Construction Equipment
7. Ammann Group
8. Hamm AG
9. Martin Trailer Company
10. MBW Inc.
12. Thetford International
13. Altrad Belle
14. CNH Industrial America LLC
15. AB Volvo
Frequently Asked questions:
1. What is the market size of the Global Compaction Equipment Market in 2022?
Ans. The market size Global Compaction Equipment Market in 2022 was US$ 5.21 Billion.

2. What are the different segments of the Global Compaction Equipment Market?
Ans. The Global Compaction Equipment Market  is divided into Type , End Use and Construction Type.

3. What is the study period of this market?
Ans. The Global Compaction Equipment Market will be studied from 2022 to 2029.

4. Which region is expected to hold the highest Global Compaction Equipment Market share?
Ans. The Asia Pacific dominates the market share in the  market.

5. What  is the Forecast Period of Global Compaction Equipment Market?
Ans. The Forecast Period of the market is 2023-2029 in the market.