According to a new report published by Allied Market Research, titled, “Hydraulic Breaker Market,” The hydraulic breaker market size was valued at $2 billion in 2021, and is estimated to reach $3.5 billion by 2031, growing at a CAGR of 5.7% from 2022 to 2031.
A hydraulic breaker is a construction machine that attaches a powerful breaker to an excavator to dismantle hard rocks and structures. It is driven by the excavator’s auxiliary hydraulic system, which is equipped with a foot valve for this purpose. High pressure is emitted from a small canister that stores pressurized hydraulic fluid. Hydraulic breakers come in a variety of power capacities, including small (up to 10 tons), medium (11-30 tons), and large (31+ tons). They are used in the mining and construction sectors.
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Demand for hydraulic breakers has increased due to growth of infrastructure, residential, and commercial facilities. In addition, rise in population and surge in demand for roads, highways, bridges, and tunnels are expected to drive the hydraulic breaker market growth during the forecast period. In addition, high productivity, high impact performance, energy recovery that increase output per shift, and reduced energy & fuel consumption are some of the benefits of hydraulic breaker, which boost the market growth.
Therefore, various major companies are focusing on manufacturing advanced hydraulic breakers for construction and mining applications. Moreover, the market is growing lucratively due to increased government investments in infrastructure projects and the mining sector. However, lack of skilled & qualified operators and decrease in new construction activity are the factors anticipated to hinder the growth of the market.
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Urbanization and industrialization in countries such as India, China, and Japan has led to rise in demand for hydraulic breakers. In addition, increase in government investments in infrastructure development fuels the growth of the hydraulic breaker industry. For example, in March 2022, the National Highways Authority of India announced plans to build 25,000 km of national highways in 2022-2023 at a speed of 50 km per day. Therefore, all these factors are expected to drive the the Asia-Pacific hydraulic breaker market growth. However, shortage of skilled operators and declining new construction activities are the factors expected to hinder the market growth.
In addition, the outbreak of COVID-19 has led to halt in logistic and manufacturing activities across the globe, which, in turn, has led to interruption of supply chain, thereby hindering growth of the hydraulic breaker market. However, this situation is expected to improve as government is relaxing norms around the world for resuming business activities.
Increasing demand for hydraulic breakers is due to increased government investments in mining for minerals, coal, and metals. For example, in October 2020, the Russian government announced its $1.5 billion investment in rare earth mining and infrastructure. Such factors increase the demand for hydraulic breakers and provide many opportunities for market growth.
The global 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 classified as construction, mining, and others. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
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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 FINDINGS OF THE STUDY
The report provides an extensive analysis of the current and emerging global hydraulic breaker market analysis and dynamics.
Depending on equipment size, the large segment was the largest revenue generator in 2021.
By type, the premium segment generated the highest revenue in 2021.
Based on application, the breaking oversized material segment dominated the market in 2021.
Based on end user industry, the mining segment dominated the market in 2021.
Region wise, Asia-Pacific dominated the market in 2021 and anticipated to dominate the global hydraulic breaker market share throughout the study period.
The report provides an extensive analysis of the global hydraulic breaker market trends and emerging opportunities of the market.
The global hydraulic breaker market forecast analysis from 2021 to 2031 is included in the report.
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