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.
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.
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.
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.
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.
Please Choose One of them.