Hydraulic Breaker Global Market
The Hydraulic Breaker Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Hydraulic Breaker Global Market Report 2024, The hydraulic breaker market size has grown strongly in recent years. It will grow from $1.87 billion in 2023 to $2 billion in 2024 at a compound annual growth rate (CAGR) of 6.9%. The growth in the historic period can be attributed to initial development, industrial applications, material advancements, market adoption, diversification of sizes and types.
The hydraulic breaker market size is expected to see strong growth in the next few years. It will grow to $2.53 billion in 2028 at a compound annual growth rate (CAGR) of 6.0%. The growth in the forecast period can be attributed to market expansion and applications, product diversification, environmental regulations and standards, industry trends and competitive landscape, global economic conditions. Major trends in the forecast period include increased efficiency, enhanced durability and longevity, versatility in applications, customization and adaptability, noise and vibration reduction.
The increase in construction activities is expected to propel the growth of the hydraulic breaker market going forward. Construction activities refer to any work or process involved in the planning, designing, building, and maintaining of physical structures, including buildings, roads, bridges, tunnels, and other infrastructure. An increase in construction activities refers to the growth and expansion in these sectors. Hydraulic breakers are often in construction projects for breaking concrete, rock, and other materials. Thus, increased construction activity can lead to a rise in demand for hydraulic breakers. For instance, in September 2021, according to Marsh, an insurance broking and risk management firm, between 2020 and 2030, the worldwide construction market is anticipated to increase by US$4.5 trillion, reaching US$15.2 trillion, with US$8.9 trillion in emerging markets. Moreover, in 2022, according to a report shared by the ToolSense, an Austria-based software company related to construction, facility services, mining, agriculture, logistics, or manufacturing, the number of housing units built in 2021 was 1,337,800, which is a 4% rise over the previous year. Therefore, the increase in construction activities is driving the growth of the hydraulic breaker market.
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The hydraulic breaker market covered in this report is segmented –
1) By Type: Handheld Hydraulic Breaker, Machine Mounted Hydraulic Breaker
2) By Product Type: Mini Hydraulic Breaker, Small Hydraulic Breaker, Medium Hydraulic Breaker
3) By Application: Breaking Oversized Material, Trenching, Demolition
4) By End User: Construction, Mining
Product innovations are a key trend gaining popularity in the hydraulic breaker market. Companies operating in the hydraulic breaker market are adopting new technologies to sustain their position in the market. For instance, in August 2022, Mazio Attachments LLC, a US-based company specializing in earth-moving machinery attachments, launched the Mazio XL series of hydraulic rock breakers. The Mazio XL series is designed with a broader range of carrier equipment, including mini excavators, skid steer loaders, backhoe loaders, and excavators of up to 140 tons of operating weight. The closed-case design of 100% Hardox steel is a notable feature that offers outstanding durability and protection against wear and impact.
The hydraulic breaker market report table of contents includes:
1. Executive Summary
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