Soil Compaction Equipment Global Market Report 2022: Ukraine-Russia War Impact

News provided by

Dec 12, 2022, 11:10 ET

NEW YORK, Dec. 9, 2022 /PRNewswire/ -- Major players in the soil compaction equipment market are Ammann Group Holding AG, Bopparder Maschinenbau-Gesellschaft mbH, CASE Construction Equipment, Dynapac, Hamm AG, Hitachi Construction Machinery, Zoomlion Heavy Industry Science and Technology Co. Ltd., Martin Trailer Company (Pty) Ltd., MBW Inc, Weber MT Inc., Caterpillar Inc, John Deere, Volvo Construction Equipment, Terex Corporation, XCMG, JSC Amkodor, Wirtgen Group, and Sany Heavy Industry Co. Ltd.

Read the full report: https://www.reportlinker.com/p06372100/?utm_source=PRN

The global soil compaction market is expected to grow from $ 2.77 billion in 2021 to $ 2.98 billion in 2022 at a compound annual growth rate (CAGR) of 7.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, effecting many markets across the globe. The soil compaction market is expected to reach $ 3.58 billion in 2026 at a CAGR of 4.7%.

The soil compaction equipment market consists of sales of soil compaction equipment by entities (organizations, sole traders, and partnerships) that help to remove air from a soil mass and help to increase the density of soil.It also makes the soil better suited for construction.

Compaction equipment refers to the equipment used for compacting large areas of soil and helps to provide an impact load on the soil. This equipment is lighter in weight and can be operated by hand or by a machine.

The main types of soil compaction equipment are rammers, smooth-wheeled rollers, vibratory plate compactors, sheepsfoot rollers, and others.Rammers are used for soil compaction purposes before construction to compact small areas by applying impact loads to the soil.

They are best suited for cohesive and semi-cohesive soils.Rammers refer to lightweight soil compaction equipment that can be employed manually as well as mechanically.

The various applications include building and construction, transport infrastructure and others. The different end users include engineering and construction, and mining.

Asia Pacific was the largest region in the soil compaction equipment market in 2021. The regions covered in the soil compaction equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The rise in the construction of smart city projects is expected to propel the growth of the soil compaction equipment market going forward.The smart city project refers to the renewal of urban areas that are linked with technology and enhance the quality of public services and citizen welfare.

Soil compaction is an essential step in the construction process to create a stable working surface.Smart projects need soil compaction for their construction, as this is used to densify soil by reducing the void space, or the amount of air, between soil particles and makes it better for construction.

For instance, according to the ministry of housing and urban affairs, an India-based department of ministry, as of June 2022, out of 5,151 smart city projects in India, 1,290 projects were completed by 2019, and 3,997 projects were completed by June 2022. Also, the Indian government has allocated $ 7,504.14 million in its union budget under National Urban Housing Funds (NUHF) for funding Pradhan Mantri Awas Yojana for the development of smart homes in cities. Therefore, the rise in the construction of smart cities is driving the growth of the soil compaction equipment market.

Product innovation is a key trend gaining popularity in the soil compaction equipment market.Major players in the market are focused on developing innovative products such as seismic systems to sustain their position in the market.

For instance, in April 2019, Dynapac, a Sweden-based engineering company engaged in the manufacturing of pavers, mobile feeders, rollers, and planers, launched the new soil compactors with a new seismic system that acts as an innovative control package.This helps the roller automatically set the optimum frequency for any compacted material.

This seismic system also allows tracking of changes in the stiffness of the material being compacted and continuously modifies the performance of the compactor to account for shifting soil conditions.

In June 2022, Wacker Neuson Group, a Germany-based construction equipment manufacturing company, acquired Enar Group for an undisclosed amount.The acquisition helps Wacker Neuson Group to expand its product portfolio by including Enar's equipment such as Internal vibrators, vibratory plates, rammers, and walk-behind rollers, and expand its business in Europe markets.

Enar Group is a Spain-based, machinery manufacturing company engaged in manufacturing compaction equipment.

The countries covered in the soil compaction equipment market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

The soil compaction equipment market research report is one of a series of new reports that provides soil compaction equipment market statistics, including soil compaction equipment industry global market size, regional shares, competitors with a soil compaction equipment market share, detailed soil compaction equipment market segments, market trends and opportunities, and any further data you may need to thrive in the soil compaction equipment industry. This soil compaction equipment market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

Read the full report: https://www.reportlinker.com/p06372100/?utm_source=PRN

About Reportlinker
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.

__________________________
Contact Clare: [email protected]
US: (339)-368-6001
Intl: +1 339-368-6001