Global Hydraulic Breaker Market Is Expected to Generate $3.5 Billion by 2031: Allied Market Research
Surge in infrastructure, residential, and commercial construction and increasing demand for roads, highways, bridges, and tunnels drive the global hydraulic breaker market. Based on region, Asia-Pacific held the largest share in 2021, contributing to nearly three-fifths of the global hydraulic breaker market share.
Portland,OR, Feb. 14, 2023 (GLOBE NEWSWIRE) — According to the report published by Allied Market Research, the global hydraulic breaker market garnered $2.0 billion in 2021, and is estimated to generate $3.5 billion by 2031, manifesting a CAGR of 5.7% from 2022 to 2031. The report provides an extensive analysis of changing market dynamics, major segments, value chain, competitive scenario, and regional landscape. This research offers a valuable guidance to leading players, investors, shareholders, and startups in devising strategies for the sustainable growth and gaining competitive edge in the market.
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Report coverage & details:
|Market Size in 2021||$2.0 billion|
|Market Size in 2031||$3.5 billion|
|No. of Pages in Report||222|
|Segments covered||equipment size, type, application, end user industry, and region.|
|Drivers|| Surge in infrastructure, residential, and commercial construction
Increasing demand for roads, highways, bridges, and tunnels
|Opportunities||Rise in government investments in infrastructure projects and mining sectors|
|Restraints||The COVID-19 pandemic|
- The outbreak of the COVID-19 pandemic had a negative impact on the growth of the global hydraulic breaker market, owing to implementation of global lockdown which resulted to temporary closure of manufacturing and production activities for hydraulic breaker used in construction mining and other applications.
- Supply chain was disrupted due to import & export restrictions. Manufacturers faced shortage of labor and unavailability of raw materials.
- However, the demand for hydraulic breaker is likely to increase in the post-pandemic.
The research provides detailed segmentation of the global hydraulic breaker market based on equipment size, type, application, end user industry, and region. The report discusses segments and their sub-segments in detail with the help of tables and figures. Market players and investors can strategize according to the highest revenue-generating and fastest-growing segments mentioned in the report.
Based on equipment size, the large segment held the highest share in 2021, accounting for more than two-fifths of the global hydraulic breaker market, and is expected to continue its leadership status during the forecast period. However, the small segment is expected to register the highest CAGR of 6.2% from 2022 to 2031.
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Based on type, the premium segment accounted for the highest share in 2021, contributing to more than half of the global hydraulic breaker market, and is expected to maintain its lead in terms of revenue during the forecast period. This segment is expected to manifest the highest CAGR of 6.0% from 2022 to 2031.
Based on end use industry, the mining segment accounted for the highest share in 2021, holding more than half of the global hydraulic breaker market, and is expected to continue its leadership status during the forecast period. However, the others segment is estimated to grow at the highest CAGR of 7.3% during the forecast period.
Based on region, Asia-Pacific held the largest share in 2021, contributing to nearly three-fifths of the global hydraulic breaker market share, and is projected to maintain its dominant share in terms of revenue in 2031. In addition, the LAMEA region is expected to manifest the fastest CAGR of 8.8% during the forecast period.
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Leading market players of the global hydraulic breaker market analyzed in the research include NPK Construction Equipment, Inc., Soosan Heavy Industries Co., Ltd., Sandvik AB, Msat Msb corporation, Indeco North America, Montabert, Caterpillar Inc., DAEMO ENGINEERING CO., LTD., FURUKAWA CO., LTD., Epiroc AB.
The report provides a detailed analysis of these key players of the global hydraulic breaker market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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