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Soil Compaction Equipment Market Trends

Report ID: GMI5213
Published Date: Aug 2023
Report Format: PDF

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Soil Compaction Equipment Market Trends

Massive government budgets allocated for urbanization projects are cultivating a highly promising growth trajectory for the soil compaction equipment market. According to the Observer Research Foundation, in March 2023, as per the budget allocation for the fiscal year 2023 - 24 in India, a total of USD 9,724.4 million has been designated for the enhancement of diverse urban sectors, encompassing housing, transportation, sanitation & other essential infrastructure. The sizable financial commitments to urbanization initiatives are propelling the demand for soil compaction equipment.

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market size for soil compaction equipment was reached USD 3.6 billion in 2022 and is projected to expand at more than a 4% CAGR from 2023 to 2032, driven by the continuous expansion of infrastructure projects worldwide.

The vibratory plate compactors segment of soil compaction equipment market generated USD 800 million in 2022 and is estimated to grow at over a 5% CAGR during 2023 and 2032, owing to their high demand due to their efficiency in quickly achieving optimal soil compaction.

North America soil compaction equipment market size exceed USD 700 million in 2022 and is anticipated to record substantial CAGR through 2032, attributed to the robust infrastructure development initiatives surging the demand for soil compaction equipment.

Dynapac, Bomag GmbH, CASE Construction Equipment, Ammann Group, Hamm AG, Hitachi Construction Machinery Co., Ltd., J C Bamford Excavators Ltd. (JCB), Martin Trailer Company (Pty) Ltd., MBW Inc., and Weber Maschinentechnik GmbH.