- Growth in construction industries is expected to drive the demand in the market.
- High cost of demolition and equipment may hinder market growth.
- Asia pacific region is expected to hold considerable value share in the global demolition equipment market.
Demolition equipment is used destroy old constructed building through cutting of concrete slab, beam and steel rod. These demolition equipment is used with construction machines such as Backhoe Loaders, Material Handlers, Wheel Loaders, Hydraulic Excavators, Multi Terrain Loaders, Track Loaders, Skid Steer Loaders, Track-Type Tractors, among others, as part of attachment or individual remotely operated. Moreover, for cutting or breakdown of high rise building, long height demolition equipment are attached with vehicles to effectively cut the concrete walls, pillar, etc. In addition, demolition equipment is also used to separate metal wastage from wastage’s stockpile for scrap recycling purpose.
In developing several countries, the regional governments are taking steps forward to make smart cities and town centers, to accomplish the aim, the government is doing renovation in some cities to construct new building and also collapsing very old building by the use of demolition equipment.
Demolition Equipment Market: Dynamics
Growth in construction industries coupled with substantial initiatives towards break down of very old and useless multistory building is expected to drive the demand for demolition equipment over the coming span of the years. Furthermore, increasing number of smart city and smart building projects are also anticipate to fillip the demand for demolition equipment in the coming years. In some of the regions, some are into illegal construction of properties at government places. Therefore, the government is destroying those building by the use of demolition equipment which in turn is expected to spike the demand of demolition equipment over the coming decades.
Irrespective of demolition equipment’s advantages, it is associated to high cost. Therefore, to purchase demolition equipment the basic requirement is of funds which in turn may create headwinds in the sales growth in the demolition equipment market over the forecast period.
Now a days, advent of remotely operated demolition equipment are gaining fresh traction in the global demolition equipment market which are more powerful and can cut the concrete slab with high accuracy.
Demolition Equipment Market: Segmentation
By Product Type, Demolition Equipment Market can be segmented as:
By Equipment Weight, Demolition Equipment market can be segmented as:
More than 100 Tons
By End Use, Demolition Equipment Market can be segmented as:
Government & institutional
Demolition Equipment Market: Regional Outlook
Asia pacific region is expected to hold considerable value share in the global demolition equipment market owing to increasing smart building projects coupled with rising urbanization. Europe is expected to be the second largest market for demolition equipment due to rising awareness light weight and high shock absorbing building structure which in turn shape the demand for demolition equipment in the coming years. North America is projected to grow with addressable growth rate in the demolition equipment market due to increasing safety concerns towards multistory buildings therefore the government is making new building for various application such as residential, educational, among others. Middle East and Africa is also expected to gain relatively moderate traction in the demolition equipment market.
Demolition Equipment Market: Key Participant
Some of the market participants in the Demolition Equipment market identified across the value chain:
Hitachi Construction Machinery Co., Ltd.
Komatsu Europe International N.V.
Kobelco Construction Machinery Europe B.V.
Hughes & Salvidge Limited
Atlas Copco (India) Ltd.
McClung-Logan Equipment Company, Inc.
Brokk UK Ltd
BAUER Equipment India Pvt. Ltd (BEI)
Soosan USA, Inc.
Hyundai Construction Equipment India Pvt. Ltd.