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Cold Milling Machine Market (Product Type - Small Milling Machine, Compact Milling Machine, and Large Milling Machine; Application - Asphalt Road, and Concrete Road): Global Industry Analysis, Trends, Size, Share and Forecasts to 2026

  • Published : July, 2020

  • Rep Id : IA0092

  • Category : Industry Automation

  • Status : Published

A recent report published by Infinium Global Research on cold milling machine market provides in-depth analysis of segments and sub-segments in the global as well as regional cold milling machine market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional cold milling machine market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast, and dollar values of the global cold milling machine market. According to the report, the global cold milling machine market is projected to grow at a CAGR of 2.8% over the forecast period of 2020-2026.

 

Market Insight

Milling machines are self-propelled and of adequate size to provide the traction and firmness required to remove the pavement surface. Cold milling is the restricted removal of an asphalt or concrete surface at either a full-depth or partial application. They create a level foundation with the specified width and depth that is required for paving new surfaces and form layers of uniform thickness. Equipped with automatic grade control systems, surfaces can be milled to specified elevations, profiles and remove concrete surfaces quickly and efficiently using these machines. The current concerns over the spread of coronavirus are expected to have a moderate impact on the growth of the cold milling machine market as the demand for the products heavily relies on road infrastructure development. Furthermore, the outbreak of the pandemic has led to the stoppage of work. In addition, as the main focus of the countries is to effectively treat the spread of the virus, the government is likely to lower their investments in infrastructure development in the short term. Moreover, labour availability is going to remain a challenge until the Covid-19 issue drops. This effect will be seen impacting the road and bridge construction and maintenance industry. However, a sufficient surge in concrete road development in emerging Asia Pacific countries such as China and India will offer a steady growth for the cold milling machine market over the long term.

 

Rapid urbanization, rising government initiatives, and investments for infrastructure development are the key driving factors for the growth of the cold milling machine market. Cold Milling is used commonly in road construction and is becoming the preferred method of removing and reclaiming pavements. In addition, specially configured cold milling machines can also be used in the field of concrete or rock milling. Cold milling machines are also frequently used in the field of pipeline construction to dig trenches and slots. Further, an increase in population, growing road construction projects, and economical development in emerging countries is likely to create lucrative demand for cold milling machines over the forecast years. Furthermore, recent developments in transport infrastructure coupled with an increase in the construction of concrete roads will increase the requirement for cold milling machines. The key players are majorly focusing on technological advancement in machines and offering additional features in the machines which likely to increase the demand for the cold milling machine market. However, unfavorable climate conditions are expected to restrain the global cold milling machines market. Moreover, an increasing the number of commercial construction projects is expected to propel the demand for the cold milling machine market in the forecast period.

 

Among the regions, Asia Pacific holds a major share in the global cold milling machines market. Growing economic development in transportation, favorable regulatory policies, and traffic congestion are the major factors that drive the growth of the Asia Pacific cold milling machine market. Moreover, North America and Europe are anticipated to hold considerable shares owing to technological advancements and the availability of road infrastructure projects. In addition, the growing adoption of Surface recovery technology for repairing and replacement of roadways in the U.S. is likely to increase the demand in the forecast period.

 

Segment Covered

The report on the global cold milling machine market covers segments such as product type, and application. On the basis of product type, the sub-markets include small milling machine, compact milling machine, and large milling machine. On the basis of application, the sub-markets include asphalt road, and concrete road.

 

Companies Profiled:

The report provides profiles of the companies in the market such as Xugong Group Construction Machinery Co., Ltd., John Deere, Caterpillar Inc., Astec Industries, Inc., SANY GROUP, Bomag GmbH, CMI Roadbuilding Ltd, Sakai Heavy Industries, Ltd, Wirtgen Group, and Jiangsu Huatong Kinetics Co Ltd.

 

Report Highlights:

The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of cold milling machine market. Moreover, the study highlights current market trends and provides forecast from 2020-2026. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.


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