Overview and Scope
Excavation is the practice of moving soil, rock, or other materials using explosives, equipment, or tools. Earthmoving, trenching, wall-shafting, tunnelling, and other activities are all included in excavation. Demolition refers to the activity of destroying existing structures.
Sizing and Forecast
The excavation and demolition market size has grown steadily in recent years. It will grow from $480.78 billion in 2023 to $491.81 billion in 2024 at a compound annual growth rate (CAGR) of 2.3%. The growth in the historic period can be attributed to construction industry growth, urban development, infrastructure projects, renovation and redevelopment, environmental compliance..
The excavation and demolition market size is expected to see steady growth in the next few years. It will grow to $551.33 billion in 2028 at a compound annual growth rate (CAGR) of 2.9%. The growth in the forecast period can be attributed to sustainable practices, smart city initiatives, brownfield redevelopment, infrastructure renewal, public-private partnerships.. Major trends in the forecast period include remote operation and telematics, selective demolition techniques, innovations in excavation equipment, urban mining, digital twin technology..
To access more details regarding this report, visit the link:
https://www.thebusinessresearchcompany.com/report/excavation-and-demolition-global-market-report
Segmentation & Regional Insights
The excavation and demolition market covered in this report is segmented –
1) By Type: Building Construction, Heavy And Civil Engineering Construction, Specialty Trade Contractors, Land Planning And Development
2) By Equipment Type: Earthmoving Equipment, Material Handling Equipment, Heavy Construction Vehicles, Other Equipment
3) By End-User: Housing, Healthcare, Industrial, Infrastructure, Commercial, Educational
Asia-Pacific was the largest region in the excavation and demolition market in 2023. The regions covered in the excavation and demolition market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Intrigued to explore the contents? Secure your hands-on sample copy of the report:
https://www.thebusinessresearchcompany.com/sample.aspx?id=9732&type=smp
Major Driver Impacting Market Growth
The expanding government infrastructure projects are driving the excavation and demolition market going forward. Infrastructure development refers to the process of building and enhancing basic services, such as energy and transportation networks. The governments are launching and increasing infrastructure projects to improve their domestic infrastructure. Excavation is the basic step in the construction of all buildings and hence it is widely used in infrastructure development projects. For instance, in November 2022, the U.S. Department of Transportation (USDOT) which is responsible for planning and coordinating federal transportation projects and the Federal Highway Administration (FHWA) which specializes in highway transportation, invested $120 billion in Federal Highway projects and $20.4 billion in the development of public transport. Additionally, the U.S. Department of Transportation (USDOT) and Federal Highway Administration (FHWA) invested $3 billion in the development of airports and $3.9 billion in developing ports and waterways. Therefore, the increasing government infrastructure development projects drive the excavation and demolition market.
Key Industry Players
Major companies operating in the excavation and demolition market are adopting a strategic partnership approach, aiming to have sole sales rights in Ontario for all XCMG earthmoving equipment. Strategic partnerships refer to a process in which companies leverage each other’s strengths and resources to achieve mutual benefits and success. For instance, in January 2022, CanLift Equipment Ltd., a Canada-based aerial equipment and material handling company, announced a partnership with Xuzhou Construction Machinery Group Co. Ltd., a China-based heavy machinery manufacturing company. This collaboration opens the door to new contacts in the construction machinery sector. CanLift is committed to connecting with our clients and creating an unparalleled experience by offering high-quality goods and services. The XCMG relationship will assist us in taking our client interaction to the next level. They will have unrestricted access to all XCMG earthmoving machines as a result of this cooperation, allowing clients to purchase equipment instantly.
The excavation and demolition market report table of contents includes:
1. Executive Summary
2. Excavation And Demolition Market Characteristics
3. Excavation And Demolition Market Trends And Strategies
4. Excavation And Demolition Market – Macro Economic Scenario
5. Global Excavation And Demolition Market Size and Growth
….
31. Global Excavation And Demolition Market Competitive Benchmarking
32. Global Excavation And Demolition Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Excavation And Demolition Market
34. Excavation And Demolition Market Future Outlook and Potential Analysis
35. Appendix
Explore the trending research reports from TBRC:
Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: [email protected]
Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
Facebook: https://www.facebook.com/TheBusinessResearchCompany
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Blog: https://blog.tbrc.info/
Healthcare Blog: https://healthcareresearchreports.com/
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model
