Compaction is a mechanism used to compress a material in terms of size, for example, soil compaction. Soil compaction provides strength and stability to the soil and reduces permeability and erosion of soil. Compaction equipment are largely employed to expel air and water movement from the soil and reduce the pore space. Most commonly used compaction equipment are smooth-wheeled rollers. These equipment are used for compaction of sand, broken stones, etc.
Key factors driving the compaction equipment market include rapid urbanization, rise in the development of transportation infrastructure, demolition of old sites, and construction of new ones. A major shift from labor-centric approach toward mechanization is also likely a significant driving factor for the compaction equipment market during the forecast period. The trend of offering compaction equipment on rental basis has been growing. This factor is estimated to create immense growth opportunities for the market in the near future. Promotion of compaction equipment through various online channels is also projected to offer lucrative opportunities to the compaction equipment market in the next few years. On the other hand, high costs of compaction equipment, costs incurred for installation and maintenance of these equipment, and rules and regulations related to emissions are some of the major factors hampering the compaction equipment market.
The global compaction equipment market can be segmented based on product, application, distribution channel, and region. In terms of product, the market can be categorized into jumping jack tamper, smooth drum roller, vibratory plate compactor, pad foot roller, multi tyre roller, and scraper. Based on application, the market can be divided into road, dams, and others (including bridges and airports). In terms of distribution channel, the market can be bifurcated into direct sales and distributor sales. Based on region, the global compaction equipment market can be segregated into North America, Europe, Asia Pacific, Middle East & Africa, and South America. The compaction equipment market in 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 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 2018 to 2026. Governments of various countries in Asia Pacific and the Middle East are looking forward to making high investments in the development of smart cities. Smart cities would have efficient facilities in terms of transportation, education, hospitals, and shopping malls and they would promote tourism as well. For the purpose of infrastructural development of smart cities, compaction equipments will surely be required. Strict rules and regulations regarding machine vibrations imposed by governments of countries in Europe are likely to boost the demand for compaction equipment in the region in the near future.
Prominent players operating in the global compaction equipment market are Hitachi Construction Machinery Co. Ltd., J C Bamford Excavators Ltd., Atlas Copco AB, Caterpillar, AB Volvo, Deere & Company, Doosan Corporation, Hamm AG, Wacker Neuson SE, AMMANN GROUP, Martin Trailer Company, MBW Inc., Sakai America, Inc., Escorts Group, CNH Industrial America LLC., Terex Corporation, ALTRAD Belle, CASE Construction Equipment, Mikasa Sangyo Co. Ltd., SANY Group, Everdigm, Thetford International, Chicago Pneumatic, and BOMAG GmbH. These players are anticipated to face healthy competition in the near future, due to presence of a large number of local players in the market. Major brands are likely to focus on the innovation of new products and research & development activities to strengthen their foothold in the global compaction equipment market.
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