Global Cold Milling Machine Market size was valued at 1.37 billion in 2018, which is expected to witness 4.17% CAGR during the forecast period.
The global market for cold milling machine has witnessed substantial growth in the past couple of years. The demand for asphalt milling is expected to be driven by the rising demand for road planner surfaces. Moreover, the growth in the number of non-residential construction projects across the globe is further expected to increase the cold milling machines demand. Globally the cold milling machines market is moderately concentrated, with the presence of less market players. The top five players accounted for 65% of market share in global cold milling machine market. The market players are also focused on the development of newer and products, which is likely to have a positive impact on the global market.
Moreover, the rise in road construction projects owing to the rise in traffic congestion is expected to create opportunities for the market players in the near future. However, higher initial cost is expected to restrain the global cold milling machine market.
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Key players in the Global Cold Milling Machine Market:
- John Deere (US)
- CMI Roadbuilding Limited (UK)
- Wirtgen Group (Germany)
- Caterpillar (US)
- XCMG (China)
- Astec Industries (US)
- Bomag (Germany)
- Dynapac (Sweden)
- Huatong Kinetics (China)
- LiuGong (China)
Cold milling machine Market: Segmental Analysis
Global cold milling machine market is segmented on the basis of milling width as 0–1.3 m, 1.3–2.0 m and above 2.0 m. Above 2.0 m milling width machines are primarily used for road construction so this segment is likely to hold majority of market share. Furthermore, the key manufacturers in the cold milling machines market are focusing on the above 2.0 m milling width machines, leading to a majority of share of this segment.
Global Cold Milling Machine Market has been segmented based on type, milling width and application. The global cold milling machine market is segmented by type as wheel-type and crawler-type.
Crawler segment held the largest market share of the global cold milling machine market in 2018 and is expected to witness the highest CAGR during the forecast period as it mostly used for all types of land surface areas.
The global market is segmented on the basis of application concrete pavement and asphalt pavement. The growing road construction sector has further boosted the market demand for asphalt pavement. Thus, this segment holds the majority of market share in the global cold milling machines market. The cold milling machines are mainly used for pavement milling, cold planing, asphalt milling, and road profiling.
Asia-Pacific is estimated to be the fastest growing market in the global cold milling machine market during the forecast period
By region, the global cold milling machine market is segmented as North America, Asia-Pacific, Europe, South America, and Middle East & Africa. Asia-Pacific is likely to hold a majority of the market share in the global cold milling machine market.
The construction sectors is growing at a steady pace in Asian countries owing to the growing infrastructure. The Asian countries including India, China, and Indonesia are expected to hold up relatively well in constrcution sector. The presence of leading manufacturers coupled with growing construction industry has led to a high demand for cold milling machines in Asia-Pacific. Asia-Pacific is currently one of the most dynamic regions globally, with construction and building projects flourishing, creating a demand for new and more advanced construction equipment, leading to the market growth. China dominated in terms of market share in 2018 and is likely to be the fastest growing market, which will continue its presence by the end of 2025. Mostly, the builders/contractors rely on rental construction equipment for their short-term projects, which has further supported the market demand for cold milling machines.
North America region is likely to hold second largest share followed by Europe, the demand in North America region is mainly driven by construction equipment rental market. The US is projected to be the fastest growing market in North America. The higher demand is attributed to recent boom in non-residential construction. The Europe region shows decent growth rate, the demand being driven by slowly growing non-residential construction.
The Middle East & Africa market is estimated to show high growth rate in the forecast period due to the growing infrastructure along with increasing investment in road construction. Saudi Arabia holds majority of market share in the Middle East & Africa. South America shows stagnant growth rate owing to the increase in the number of commercial projects, the demand is projected to increase in forecast period.
Scope of the Report
This study provides an overview of the global cold milling machine market, tracking three market segments across five geographic regions. The report studies key players, providing a six-year annual trend analysis that highlights market size, volume, and share for Asia-Pacific, North America, South America, Europe, and the Middle East & Africa. The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the global cold milling machine market by Type, application, and region.
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Table of Contents
1 Executive Summary
2 Scope of the Report
2.1 Market Definition
2.2 Scope of the Study
2.2.2 Research Objective
2.3 Research Process
2.3.1 Primary Research
2.3.2 Secondary Research
2.4 Market Size Estimation
2.5 Forecast Model
3 Market Landscape
3.1 Porter’s Five Forces Analysis
3.1.1 Threat of New Entrants
3.1.2 Bargaining Power of Buyers
3.1.3 Threat of Substitutes
3.1.4 Segment Rivalry
3.1.5 Bargaining Power of Buyers
3.2 Value Chain/Supply Chain Analysis
4 Market Dynamics
4.2 Market Drivers
4.3 Market Restraints
4.4 Market Opportunities
5 Global Cold Milling Machines Market, by Type
5.2.1 Market Estimates & Forecast, 2019–2025
5.2.2 Market Estimates & Forecast, by Region, 2019–2025
5.3.1 Market Estimates & Forecast, 2019–2025
5.3.2 Market Estimates & Forecast, by Region, 2019–2025
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