Hydraulic Attachments Market By Type (Breaker/Hammer, Crusher/Shear, Pulverizer, Grapple), By Application (Residential & Commercial Construction, Industrial Construction, Infrastructure), By Region, A...
Report Id: 44210 | Published Date: Jul 2024 | No. of Pages: 10 | Base Year for Estimate: Jul 2024 | Format:
Market Overview:
The global hydraulic attachment market has witnessed significant growth over the past few years. Hydraulic attachments for demolition represent a specialised gear that is designed to streamline and enhance the efficacy of demolition applications on construction sites. These attachments for demolition consist of breaker/hammer attachments, aiding the suitable cracking of concrete and rock surfaces, crusher attachments for green processing and recycling of construction substances, pulverizers that help in crushing and grinding debris and other versatile grapples used for diverse materials. These hydraulic attachments collectively steer demolition tasks, presenting adaptability and efficiency in deconstructing systems with numerous construction and infrastructure endeavours.
The global hydraulic attachment market is valued at USD 4.2 billion in 2024 and is projected to reach USD 7 billion by 2032, growing at a CAGR of 5.5% from 2024-2032. The demand for these attachments is influenced by the increase in infrastructure, residential and commercial construction. The ever-growing population is another significant factor behind the market growth as it has led to a demand for roads, highways, bridges and tunnels.
Premium Insights:
Rapid urbanisation and infrastructural developments are driving demand for hydraulic attachments
Mergers and acquisitions among key players to expand product offerings and market reach. For instance, in 2023 Stanley Black & Decker, Inc. has agreed to sell STANLEY Infrastructure, a worldwide producer of excavator attachments and handheld hydraulic equipment, to Epiroc AB, a significant productivity and sustainability partner in the mining and construction industries.
Global Hydraulic Attachments Market Dynamics:
Drivers: Rising demand in construction & demolition, focus on automation, Multi-functionality and growing emphasis on rental and leasing options.
-The growth of the construction and demolition sectors, particularly in developing economies with ongoing infrastructure projects, fuels demand for hydraulic attachments like breakers, grapples, and hammers. These attachments enhance efficiency and productivity in demolition work, trenching, and excavation tasks.
-Construction companies are increasingly seeking ways to improve efficiency and reduce labour costs. Hydraulic attachments, such as automated sorting grapples and robotic demolition tools, can automate certain tasks and increase productivity on construction sites.
-Modern hydraulic attachments are designed to be more versatile and can be adapted to various base machines like excavators, skid steers, and backhoes. This allows contractors to utilise a single machine for multiple tasks, reducing equipment needs and overall costs.
-The increasing popularity of rental and leasing options for construction equipment allows contractors to access advanced hydraulic attachments without a significant upfront investment.
Restraints: Maintenance issues, skilled labour shortage and standardisation & compatibility challenges
-Hydraulic attachments require regular maintenance and repairs to ensure optimal performance and safety. These ongoing costs can add up over time, impacting the overall cost-effectiveness of these attachments.
-Operating and maintaining complex hydraulic attachments requires specialised skills and training. A shortage of skilled labour in the construction industry can limit the adoption of these advanced technologies.
-A lack of standardisation across different attachment brands and base machines can sometimes lead to compatibility issues, making it difficult to interchange attachments with different equipment.
Opportunities: Growth in the aftermarket, Focus on digitalisation & connected attachments and expansion into emerging markets.
-The increasing use of hydraulic attachments creates a growing demand for replacement parts, maintenance services, and technical support. This presents a significant opportunity for the aftermarket segment of the hydraulic attachments market.
-Integrating sensors and connectivity features into hydraulic attachments can enable real-time monitoring of performance, predictive maintenance, and remote diagnostics. This can improve overall efficiency and reduce downtime.
-The rising infrastructure development and construction activities in developing economies present significant growth opportunities for the hydraulic attachments market. Adapting product offerings and addressing infrastructure challenges in these regions can be beneficial.
Market By Hydraulic Attachment Type Insights:
Based on type, the market is segmented into breaker/hammer, crusher/shear, pulveriser and grapple, among others. The breaker/hammer segment dominated the market in 2023, in terms of revenue, mainly because of the increase in population in developing economies which includes, China, India and other countries, that has caused speedy urbanisation which is anticipated to reinforce improvement of the residential area, which is expected to increase demand for hydraulic breakers.
Based on application, the market is segmented into Mining & Excavation and Earth-moving & demolition. Among these, the earth-moving & demolition segment contributed a major market share in 2023 in terms of revenue. One of the key factors for this dominance can be attributed to the recent surplus of construction projects due to the rapid urbanisation in emerging economies for which attachments are being utilised heavily for efficient and quality output.
Market By End-Use Insights:
Based on end-use, the majority of the market share is occupied by the construction segment and is due to the extensive use of excavators, loaders, and skid steers in various construction projects like building foundations, road construction and demolition.
Market By Region Insights:
Based on regional coverage, the market is segmented into North America, Europe, Asia-Pacific, Latin America and Middle East & Africa. As per reports, North America and Europe are expected to dominate the market in 2024 in terms of revenue. The expanding industrial development in the region has helped the North American market and between 2021-2030, Europe ranked as the second-largest market for hydraulic attachments and also held the biggest market share in 2023 for hydraulic demolition attachments.
Competitive Scenario:
Major players in this region are Sandvik, Everdigm, Caterpillar, Doosan, Atlas-Copco, Komatsu, Indeco, Soosan, Furukawa, Toku, NPK, Waratah, ACS Industries, Manitou Group, Volvo MSB and Kinshofer.
Scope of Work-Hydraulic Attachments Market
Key Market Developments
December 2023-Stanley Black & Decker, Inc. has agreed to sell STANLEY Infrastructure, a worldwide producer of excavator attachments and handheld hydraulic equipment, to Epiroc AB, a significant productivity and sustainability partner in the mining and construction industries. Through the strategic acquisition, Epiroc will gain more traction in the infrastructure and construction attachments market, especially in the US.
January 2024-Formerly primarily serving the regional mining industry, Yorkshire Hose & Fittings and Leicester Hose & Hydraulics were acquired by Hydroscand UK. Scott Kennedy will stay on staff to support the business's expansion and integration.
April 2024-ROCKET, the company's newest line of electric, cabinless skid steer loaders, was unveiled today by FIRST GREEN Industries, the pioneer and only commercially available all-electric, zero-emissions skid steer loader in history. With their 360-degree video, low clearance, and remote operation, ROCKET machines redefine safety and efficiency in critical mining, construction, and other risky industries.
Frequently Asked Questions (FAQs)
What are the main drivers of the hydraulic attachments market?
Ans. The main drivers include the rising demand in construction & demolition, focus on automation, Multi-functionality and growing emphasis on rental and leasing options.
What are the primary challenges faced by the hydraulic attachments market?
Ans. The primary challenges include maintenance issues, skilled labour shortage and standardisation & compatibility challenges
Who are the major players in the hydraulic attachments market?
Ans. The major players in this market are Sandvik, Everdigm, Caterpillar, Doosan, Atlas-Copco, Komatsu, Indeco, Soosan, Furukawa, Toku, NPK, Waratah, ACS Industries, Manitou Group, Volvo MSB and Kinshofer.
What opportunities exist in the hydraulic attachments market?
Ans. Opportunities include growth in the aftermarket, Focus on digitalisation & connected attachments and expansion into emerging markets.
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