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Global Soil Compaction Machines Market Expansion Projected to Gain an Uptick During 2018 to 2028
Fact.MR foresees that the demand for soil compaction machines is projected to expand at a CAGR of 4.1% in terms of volume during the period of forecast, 2018-2028.
Soil compaction machines are used for the process of soil compaction in which density of the soil is increased. Different types of soil compaction machines such as rammers, vibratory plates and rollers are used in densification of soil where the air between soil particles is displaced with external force.
The soil compaction machines market report delivers vital insights on the supply and demand scenario and product innovations in the soil compaction machines marketplace worldwide. Performance of the soil compaction machines market report is backed by a thorough analysis of the historical data, current market trends and key business strategies adopted by manufacturers in the soil compaction machines market.
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Manufacturers Rely on Predictive Analytics to Mitigate Concerns Related to Repair & Maintenance Costs and Frequent Downtime
End-users in the soil compaction machines market continued to show a marked preference for renting vis-à-vis owning. This is primarily attributed to significant cost savings that renting offers over full ownership. Although the prevalent status-quo is advantageous for end-users, it poses challenges in terms of higher overhead costs for manufacturers. To address this challenge, manufacturers in the soil compaction machines market are investing in predictive analytics technology, including Big Data and IoT which enables manufacturers to gain information on maintenance time, prior to failure. In addition, growing emphasis on reducing the lead times is also driving adoption of innovative technology among soil compaction machines manufacturers. For big ticket construction projects, low downtime is a critical factor – with the awareness of these challenges, manufacturers in the soil compaction machines market are increasingly relying on technology to navigate the evolving landscape.
Manufacturers Seek Procurement of Big Infrastructure Projects to Maintain Market Sustainability
As the soil compaction machines market remains cost intensive, reliance on rental solutions do not ensure market sustainability. Manufacturers in the soil compaction machines market continue to seek procurement of big infrastructure projects to capture higher profit margins for longer duration. For instance, JCB has recently announced that the company has received an Indefinite Delivery / Indefinite Quantity (IDIQ) contract from the U.S. Fish and Wildlife Service (FWS,) with annual investment up to $5 million in construction machine orders for the next five years. Dynapac, a leading provider of soil compaction machines announced a fleet order from one of the largest construction companies in the Gulf. A fleet of Dynapac machines including eight new soil compaction machines- rollers are being used in the infrastructure projects in Kuwait.
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Soil Compaction Machines Industry Investing in R&D to Meet End-User Demand for Efficient Densification
Intelligent Compaction (IC) technology in soil compaction machines has assisted construction operators to achieve uniform compaction. However, the IC technology lacks delivery of maximum compaction efficiency where advanced vibratory drums and improved accelerometer measures ground response to energy for compaction force. To address these technological innovations, the soil compaction machines industry has made significant investments in R&D and Innovation. For instance, Caterpillar has developed a new Machine Drive Power (MDP) technology which delivers compaction with greater reliability. BOMAG recently featured its latest innovations - BOMAG 360 degrees compaction technology at BOMAG Innovation Days Asia 2018. With the pivotal role of compaction process in the road construction, growing need of construction equipment has led manufacturers in the soil compaction machines market to engage in R&D investments.
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