Page 40 - CO_February_2022

LEAD STORY CONSTRUCTION EQUIPMENT

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handling on elevated levels. However, they also find applications centric approach toward mechanization is also likely a significant
in construction of structures such as dams, bridges, industries, power driving factor for the compaction equipment market during the
generation plants, and others. With automation fast making inroads forecast period. The trend of offering compaction equipment on
into the equipment manufacturing, cranes segment is here to rental basis has been growing. This factor is estimated to create
witness best times ahead. immense growth opportunities for the market in the near future.

Compaction Equipment – No Mean Feat! Concrete Paving Market
According to a recent Research & Markets report, the global market According to Persistence Research, the concrete paver market
for Compaction Equipment estimated at $4.2 Billion in the year contains astounding variety of application and technology
2020, is projected to reach a revised size of $5.4 billion by 2027, adoption for ease of use and time-saving. Considering the
growing at a CAGR of 3.5% over the period 2020-2027. While satisfaction of project owners and flexibility of changing paving
compaction equipment is mostly used to compress loose soil but widths and transportation equipment easily and quickly there is
owing to a variety of compaction equipment available today, this a demand for refined control over pavement smoothness. For
have found way in all types of construction activities, right from the need of the increase in adjustment speeds of the paver
building roads to constructing industrial complexes. This equipment concrete machines, there has been a widespread use of
can compress loose soil, rocks, landfill debris, road surfaces and refining paver controls and features to meet the ultimate goal of
other materials to a particular density level so that the ground does paving smoothness. Major infrastructure projects in developing
not cave in with use over a period of time. economies have created demand for the advanced controls in
Compactors machines majorly operate on the basis of hydraulic the concrete paving machines for smooth functioning and good
technology and are very powerful & efficient when it comes to outcome. The technique of two lift paving uses less expensive
hectic and time-consuming tasks. Continuous and rapid growth in or the recycled aggregates in the lower lift and saves the best
the new infrastructural and construction activities, especially in the aggregates for wearing course which then minimizes the effects
developing countries is fuelling the demand for soil compactors. of skidding, reduction in pavement noise and the pavement life
This is because, soil compaction is one of the crucial steps for leading to significant growth for the Concrete Paving Equipment
any construction project. The rise in construction in smart cities, Market. Laser grading technology is adopted to substitute string
also the increase in transport construction acts as a major driver lines. Integration of biodegradable, recyclable and sustainable
for the market. Also, the rapid urbanization fuels the demand for materials in construction activities in the economies has created
compaction equipment market as it gives rise to a large number of growth opportunities for the modern construction techniques. The
demolition sites and new construction sites. A major shift from labor- rising public, rapid urbanization, significant amounts of private

44 CONSTRUCTION OPPORTUNITIES|FEBRUARY 2022