Hydraulic Attachments For Demolition Market Research, 2033
The global hydraulic attachments for demolition market size was valued at $4.1 billion in 2023, and is projected to reach $7.1 billion by 2033, growing at a CAGR of 5.6% from 2024 to 2033.
Market Introduction and Definition
Hydraulic attachments for demolition represent a specialized arsenal of gear designed to streamline and enhance the efficacy of demolition application on construction sites. This attachments for demolition include breaker/hammer attachments, facilitating the suitable cracking of concrete and rock surfaces, crusher/shear attachments for green processing and recycling of construction substances, pulverizers dedicated to crushing and grinding debris, and versatile grapples adept at dealing with diverse materials. Additionally, the segment embraces different attachments inclusive of rippers, crunchers, and thumbs, every contributing particular functionality which include tearing, compacting, and meticulous material coping with. These hydraulic attachments collectively empower demolition tasks, presenting adaptability and efficiency in deconstructing systems throughout numerous construction and infrastructure endeavors.
Increase in infrastructure, residential, and commercial construction has led to surge in demand for hydraulic attachments. Moreover, rise in population and increasing demand for roads, highways, bridges, and tunnels are expected to drive the hydraulic attachments for demolition market during the forecast period. In addition, high productivity, high percussive performance and energy recovery can increase the output per shift and lower energy and fuel consumption are a few advantages of hydraulic attachments for demolition which are driving the market growth. Hence, various key market players are focusing on manufacturing advanced hydraulic breakers for mining and construction applications. For instance, in December 2023, Brokk launched new series under Brokk 900 category, which is known as world largest and most powerful demolition robot. Brokk 900 have increased 25% more power and meets the new industry benchmark in reliability that Brokk introduced with its SmartPower technology. The series includes BHB 1300 and BHB 1500 which are paired with the hydraulic power of Brokk 900. In addition, it comes with features such as Service-friendly and robust design, Heavy breaker for heavy tasks, Reliable SmartPower, and Diesel or electric-powered variants. Such factors are expected to drive market growth.
Market Segmentation
On the basis of type, the breaker/hammer segment led the market in 2023, in terms of revenue, and grapple is anticipated to register the highest CAGR throughout the forecast period.
Moreover, upward push in government investments in infrastructure development and mining sectors are offering lucrative boom for the market. For instance, an article published through Hillnotes on Canada long term infrastructure plan in February 2022, states that the plan initiated in 2016, the Investing in Canada Plan stands as a comprehensive federal infrastructure method, committing a huge $188 billion investment over a 12-year period. Within this investment, $96 billion is new funding, whilst $92 billion is sourced from current infrastructure programs. Coordinated by Infrastructure Canada, the plan spans over 5 precedence funding streams, allocating $28.7 billion to public transit, $26 billion to greeninfrastructure, $25.3 billion to social infrastructure, $10.1 billion to trade and transportation projects, and $2 billion to rural and northern network infrastructure initiatives. The plan pursuits to address vital infrastructure requirements, foster sustainability, and enhance community improvement.
Increase in population in developing economies which includes China, India, and other countries. This has caused speedy urbanization, which is anticipated to reinforce improvement of the residential area which is expected to increase demand for hydraulic breakers. According to the United Nations (UN), around 68% of the sector population is anticipated to live in urban areas by 2050. This is anticipated to boom production activities in residential, infrastructure, and non-residential areas worldwide. Such elements will drive the boom of the hydraulic attachments for demolition market forecast period.
On the basis of application, the earth moving and demolition segment led the market in 2023, in terms of revenue, and the mining and excavation segment is anticipated to register the highest CAGR during the forecast period.
Expansion of mining sector, urbanization, industrialization and in Asia-Pacific countries. Moreover, growing government funding in infrastructure improvement is accelerating the hydraulic attachments for demolition market growth in the region. For instance, National Highways Authority of India has announced plans to construct 25.000 kilometers of country wide highways in 2022-2023 at a pace of 50 km every day. Thus, all such instances are anticipated to drive the hydraulic attachments for demolition market boom in Asia-Pacific.
The market's growth is expected to be limited by a shortage of professional operators and limited new construction projects. Furthermore, a significant obstacle to the hydraulic attachments market for demolition is the considerable initial investment and equipment costs involved. Hydraulic attachments for demolition might be expensive, which could prevent smaller firms from using them. Furthermore, the excavator needed to operate the attachment might be quite expensive. Thus, it is anticipated that the market for hydraulic attachments for demolition will grow slowly because to high initial investment and a shortage of experienced workers.
Based on end user industry, the construction segment led the hydraulic attachments for demolition market in 2023, in revenue, and the mining segment is expected to register the highest CAGR during the forecast period.
This is attributed to rising government Investments in mining of minerals, coal, and metal. For instance, in August 2022, according to Mining Chamber of Mexico (Camimex), Mexico mining industry has planned to invest $5.5 billion in 2022, up 15.2% from 2021. In addition, in July 2022, Altamin and Appian has announced to form joint venture for Italian zinc project. Global specialist mining private equity fund Appian will invest up to $65m in the JV. Such factors are accelerating the hydraulic attachments for demolition market growth. Such factors will increase the demand for hydraulic attachments for demolition and thus will offer lots of opportunities for the market growth.
The global hydraulic attachments for demolition market is segmented into type, application, end user, and region. On the basis of type, the market is divided into breaker/hammer, crusher/shear, pulverizer, grapple, and others. By application, it is segregated into mining and excavation, and earth moving and demolition. On the basis of end user, it is further classified as construction, mining, waste management & recycling and utility. On the basis of region, the market is analyzed across North America (the U.S., and Canada,), Europe (Germany, the UK, Italy, France, Spain, and rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia, and rest of Asia-Pacific), and LAMEA (Latin America, Middle East, Africa).
Region wise, Europe contributed for the highest hydraulic attachments for demolition market share in 2023, and Asia-Pacific is anticipated to register the highest CAGR during the forecast period.
Competition Analysis
The major players profiled in the hydraulic attachments for demolition industry include Caterpillar, Atlas Copco AB, Epiroc AB, Montabert SAS, Sandvik AB, Genesis Attachments, Soosan Heavy Industries Co., Ltd., OKADA, Indeco, and Xcentric.
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 attachments for demolition market.
key strategic moves by the key market player in hydraulic attachments for demolition market
In December 2023, Epiroc AB committed for the acquisition of Stanley Infrastructure. Under this strategic acquisition, Epiroc's position in the infrastructure and construction attachments market is strengthened, particularly in the United States. Within Stanley Black & Decker's Industrial business area, Stanley Infrastructure designs and manufactures attachments for use in building, deconstruction, and waste recycling.
In August 2021, A new series of primary and secondary pulverizer attachments from Caterpillar was introduced for use on excavators weighing between 18 and 50 tons. The new Cat pulverizer range consists of three fixed secondary models (P218, P224, and P232) and three rotatable primary models (P318, P324, and P332) with 360-degree rotation.
In May 2023, Caterpillar released a variety of recent attachments for backhoe loaders and mini excavators at ConExpo-Con/Agg 2023 to drive the machines' versatility. The new models span the range of demolition and sorting grapples, multipurpose grapples for Cat tiltrotators, vibratory compactor plates, and cold planers.
In November 2023, Sandvik unveiled its latest cutting-edge top hammer tool systems, the CT55 and CT67, marking a significant advancement for the company. These innovative systems boast a unique design aimed at enhancing efficiency, reducing costs, and optimizing automated drilling in both surface bench and underground longhole applications. The introduction of these advanced tools not only promises fuel savings but also signifies a milestone in Sandvik's commitment to pushing the boundaries of technology in the drilling industry.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the hydraulic attachments for demolition market analysis from 2023 to 2033 to identify the prevailing hydraulic attachments for demolition market opportunity.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the hydraulic attachments for demolition market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global hydraulic attachments for demolition market trends, key players, market segments, application areas, and market growth strategies.
Hydraulic Attachments For Demolition Market Report Highlights
| Aspects | Details |
 Market Size By 2033 | USD 7.1 billion |
 Growth Rate | CAGR of 5.6% |
 Forecast period | 2023 - 2033 |
 Report Pages | 271 |
 By Type |
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 By Application |
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 By End-User |
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 By Region |
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 Key Market Players | Genesis Attachments, Soosan Heavy Industries Co., Ltd., Caterpillar, Montabert SAS, Atlas Copco AB, Xcentric, Epiroc AB, Indeco, Sandvik AB, OKADA |
Analyst Review
The hydraulic attachments for demolition market holds high potential in the earth moving and demolition segment. Further, there are various types of hydraulic attachments available in the market, however choosing the right type of hydraulic attachments is imperative. While selecting hydraulic attachments, industries focus on parameters such as the complexity of the project, material, cost, quality, time, and safety. One of the reasons for the growth of the hydraulic attachments for demolition market is the rise in popularity of robust and compact equipment.
The adoption of compact construction equipment has gained popularity in recent years, due to their easier maintenance, movability, and similar performance as heavy construction machinery which positively impacts the market growth.
Expenditure on infrastructure development, such as improvement of roads and bridges is expected to increase. As stated by the global infrastructure outlook, by 2040, the global population is estimated to grow by approximately two billion, with the urban population growing by 46%, triggering massive demand for infrastructure support which will fuel the hydraulic attachments for demolition market.
Increase in urbanization has led to the expansion of the manufacturing sector throughout the globe, which boosts the hydraulic attachments for demolition market growth. Moreover, increased urbanization has resulted in increased construction activities, thereby fueling the demand for hydraulic attachments for demolition market.
The global hydraulic attachments for demolition market were valued at $4,136.7 million in 2023, and is projected to reach $7,133.1 million by 2033, registering a CAGR of 5.6% from 2024 to 2033.
The forecast period considered for the global hydraulic attachments for demolition market is 2022 to 2032, wherein, 2022 is the base year, 2023 is the estimated year, and 2032 is the forecast year.
The latest version of global hydraulic attachments for demolition market report can be obtained on demand from the website.
The base year considered in the global hydraulic attachments for demolition market report is 2022.
The major players profiled in the hydraulic attachments for demolition market include Caterpillar, Atlas Copco AB, Epiroc AB, Montabert SAS, Sandvik AB, Genesis Attachments, Soosan Heavy Industries Co., Ltd., OKADA, Indeco, and Xcentric.
The top ten market players are selected based on two key attributes - competitive strength and market positioning.
The report contains an exclusive company profile section, where leading companies in the market are profiled. These profiles typically cover company overview, geographical presence, market dominance (in terms of revenue and volume sales), various strategies, and recent developments.
Based on application, the earth moving, and demolition segment was the largest revenue generator in 2022.
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