PUBLISHER: Allied Market Research | PRODUCT CODE: 1193327
PUBLISHER: Allied Market Research | PRODUCT CODE: 1193327
The global hydraulic breaker market was valued at $1,993.9 million in 2021, and is projected to reach $3,509.7 million by 2031, registering a CAGR of 5.7% from 2022 to 2031. The hydraulic breaker is a construction equipment that is used for the demolition of a structure and breaking rocks into smaller sizes. It is an attachment on an excavator and works on the principle of hydraulics. It applies high pressure from its small canister that has pressurized hydraulic oil stored in it. These machines are widely used in construction and mining sectors to enhance productivity and save manpower.
Some significant factors that impact the growth of the global hydraulic breaker market include increase in construction and infrastructure activities in developed nations. Furthermore, growth in mining sector and increase in demand for coal, metal, & minerals accelerate the hydraulic breaker market growth. However, lack of skilled & qualified operators and decrease in new construction activity are the factors anticipated to hinder the growth of the market. Moreover, rise in demand for technologically advanced equipment in mining sector is expected to provide future growth opportunities in the market.
Construction companies that want to save money or cut down in costs can highly benefit from hydraulic breakers. Since hydraulic breakers require grease and oil to maintain, the internal components are kept lubricated, which reduces the amount of upkeep. The longer the demolition tool lasts, less money is spent on equipment. Hence, key players manufacture advanced and cost-effective hydraulic breaker for mining and construction sectors.
For instance, in September 2021, Brokk Global introduced the Brokk Pedestal Boom, a compact, stationary breaker boom system for the mining and aggregates industry. Hence, such factors provide lucrative growth in the market. Population growth in developing countries such as China, India, and the U.S. are expected to bring rapid urbanization, boost the development of the housing sector, and augment the demand for hydraulic breakers. According to the United Nations (UN), by 2050, about 68% of the world's population is expected to live in urban areas. This is anticipated to increase construction activity for housing, infrastructure, and non-residential construction worldwide. Such factors drive the growth of the hydraulic breaker market during the forecast period.
The hydraulic breaker market is segmented into equipment size, type, application, end user industry, and region. On the basis of equipment size, the market is divided into small, medium, and large. Depending on type, it is classified into premium and non-premium. By application, it is segregated into breaking oversized material, trenching, demolition, and others. On the basis of end user industry, it is further categorized into construction, mining, and others. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Competition Analysis
The major players profiled in the hydraulic breaker market include CATERPILLAR INC., DAEMO ENGINEERING CO., LTD., EPIROC, FURUKAWA CO., LTD., INDECO, MONTABERT, msat - msb corporation, NPK CONSTRUCTION EQUIPMENT, INC., SANDVIK, and SOOSAN CORPORATION Co., Ltd. Major companies in the market have adopted acquisition, partnership, and business expansion as their key developmental strategies to offer better products and services to customers in the hydraulic breaker market.
Key Benefits For Stakeholders
By Equipment Size
By Type
By Application
By End user industry
By Region