Pile Driver Market worth USD 1,631.0 billion by 2027

The Market Statsville Group (MSG) publishes the new report on the "Pile Driver Market by Product Type (Static Pile Drivers, Piling Rigs, Casing Rotator, and Piling Hammers), By Applications (Buildings & Construction, Transport Infrastructure Construction, and Others), and Region - Global Trends, Market Share, and Forecast to 2027". The global pile driver market is estimated to grow from USD 1,056.5 million in 2020 to USD 1,631.0 million by 2027, at a CAGR of 6.4% from 2021 to 2027. A pile driver is a machine that drives piles into the ground to support the foundations of buildings and other structures. Members of the construction team that work with pile-driving rigs are also referred to as pile drivers. The significant factors contributing to the growth of the pile driver market include the rising demand for pile drivers in the building construction industry and transport construction industry.

Besides, adherence to sound pressure level regulations, changing customer needs, rise in manufacturing costs, and weak regulatory framework in Asia are the factors that are hampering the market growth. Sound from pile drivers used in the building and construction industry creates noise pollution, which is not good for the laborers working in the industry. Thus, to overcome this, the government is introducing regulations for it. In addition, the emergence of innovative piling technologies and the equipment rental business's growth are the factors creating opportunities for market growth during the forecast period.

Global Pile Driver  Market Segmentation

The overall pile driver market has been segmented into product type, applications, and region.

• By Product Type (Static Pile Drivers, Piling Rigs, Casing Rotator, and Piling Hammers)
• By Applications (Buildings & Construction, Transport Infrastructure Construction, and Others)
• By Region (US, Canada, Mexico, UK, Germany, France, Italy, Spain, China, Japan, India, South Korea, Southeast Asia, Australia, Saudi Arabia, UAE, South Africa, Qatar, Nigeria, Israel, Brazil, Argentina, Peru)

Static Pile Driver, by product type, is estimated to hold the largest market share during the forecast period

Based on the product type, the global pile driver  market is segmented into static pile drivers, piling rigs, casing rotator, and piling hammers. The static pile driver segment generated the highest revenue in 2020, and it is expected to register a significant CAGR from 2020 to 2027. The hydraulic static pile driver uses static force generated by the hydraulic system to jacking in precast piles quietly and steadily. The static pile driver growth is driving due to the free of noise, pollution, and vibration. Besides, the use of static driver force ensured its stability and piling quality. Thus, among the various technology static driver segment is driving the growth among others.

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North America accounts for the highest market share during the forecast period in the pile driver  market

Based on the regions, the global pile driver market has segmented North America, Asia-Pacific, Europe, South America, and the Middle East & Africa. In North America, three main countries, the US, Mexico, and Canada, are analyzed. The United States has the largest share of the market, followed by Canada. The government in the region is investing more in the construction of the building and infrastructures projects. In the region, investment across the various states for infrastructure development is driving the market growth during the forecast period. For instance, Pima County in Arizona approved an infrastructure investment of $55 million in road repairs, which will fix around 127 miles of local roads and about 45 miles of collector and arterials. The county also allocated $165 million in capital project funding to bolster the local economy by funding jobs in the construction industry, building new libraries, and the continued renovation of Pima County’s Historic Courthouse.

Besides, the State of Illinois in the US announced $39.5 million for 27 new projects to invest in building modern infrastructure and supporting continued economic development across the state. Thus, the rising investment by the government in the region for infrastructure development is driving the market growth during the forecast period in the area.

This research report includes a study on the development and marketing strategies, product portfolios, and winning design of the leading companies operating in the pile driver market. It also consists of the profiles of leading companies such as PTC, XCMG, ABI GmbH (Banut and Delmag), Hitachi, Sunward, Caterpillar, Bauer, Liebherr, Sany, Junttan, Vermeer, and Atlas Copco, among others. These market players have focused on acquisitions and expansion to gain a larger market share in the pile driver market.

Browse complete report: https://www.marketstatsville.com/pile-driver-market

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