Hydraulic Breaker Market Size, Industry Analysis By Segmentations, Top Key Players, Trends, Future Development & Forecast By 2033
- PUBLISHED ON
- 2024-06-02
- NO OF PAGES
- 286
- CATEGORY
- Machinery & Heavy Industry
The global hydraulic breaker market size was valued at around USD 2.3 billion in 2022 and expected to grow at a CAGR of 5.8% during the forecast period.
Report Scope
Report Attributes | Description |
Market Forecast in 2022 | USD 2,300 million |
Market Forecast in 2033 | USD 5,670 million |
CAGR % 2023-2033 | 5.8% |
Base Year | 2022 |
Historic Data | 2020-2021 |
Forecast Period | 2023-2033 |
Report USP | Product, end-user industry, company share, company heat map, company Capacity Technology Product capacity, growth factors and more |
Key Companies | Atlas Copco AB, Caterpillar Inc., Doosan Infracore Co. Ltd., Epiroc AB, Furukawa Rock Drill Co. Ltd., Hitachi Construction Machinery Co. Ltd., JCB Service, Komatsu Ltd., Montabert SAS, NPK Construction Equipment Inc., |
Covid-19 Impact:
The COVID-19 pandemic has had a significant impact on the global hydraulic breaker market. The construction, mining, quarrying, and demolition industries, which are the primary users of hydraulic breakers, were significantly affected by the pandemic.
The closure of factories and production facilities during the lockdown period disrupted the manufacturing and distribution of hydraulic breakers, leading to a shortage of supplies.
However, as the world recovers from the pandemic and the economies reopen, the hydraulic breaker market is expected to recover. The demand for hydraulic breakers is expected to increase as construction and mining activities resume.
Overall, while the pandemic has had a significant impact on the hydraulic breaker market, the market is expected to recover in the post-pandemic period as the world recovers from the pandemic and economic activities resume.
Market Dynamics:
Drivers:
Increasing demand from construction and mining industries: The growing demand for construction and mining activities is driving the growth of the hydraulic breaker market. Hydraulic breakers are widely used in construction and mining activities for demolition and breaking down of structures and materials, which is increasing the demand for these equipment.
Advancements in technology: The hydraulic breaker industry is witnessing advancements in technology, which is driving the growth of the market. Manufacturers are developing advanced hydraulic breakers that are more efficient, durable, and cost-effective.
Growing demand for rental equipment: The increasing demand for rental equipment is also driving the growth of the hydraulic breaker market. Many construction and mining companies prefer to rent hydraulic breakers instead of purchasing them, which is increasing the demand for rental hydraulic breakers.
Increasing focus on infrastructure development: The increasing focus on infrastructure development, especially in developing countries, is driving the growth of the hydraulic breaker market. Governments across the world are investing in infrastructure development, which is increasing the demand for hydraulic breakers.
Growing mining activities: The growth of mining activities, especially in emerging economies, is driving the growth of the hydraulic breaker market. The increasing demand for minerals and metals is driving the growth of mining activities, which is increasing the demand for hydraulic breakers.
Restraints:
High cost of hydraulic breakers: The cost of hydraulic breakers is relatively high, which may limit their adoption, especially by small and medium-sized construction and mining companies. The high cost of hydraulic breakers is due to the complexity of their design, the cost of raw materials, and the advanced technology used in their manufacturing.
Increasing demand for alternative technologies: The increasing demand for alternative technologies such as electric and pneumatic breakers is a significant restraint to the hydraulic breaker market. These alternative technologies are gaining popularity due to their lower noise levels, reduced emissions, and lower operating costs.
High maintenance costs: Hydraulic breakers require regular maintenance and servicing to keep them in optimal condition. The cost of maintenance can be significant, especially for large hydraulic breakers used in heavy-duty applications. The high maintenance costs could limit the adoption of hydraulic breakers.
Regional Analysis:
North America: North America is a significant market for hydraulic breakers, primarily driven by the demand from the construction and mining industries. The region has a developed construction industry, which is driving the demand for hydraulic breakers for demolition and excavation activities. The United States and Canada are the major markets in the region.
Europe: Europe is another significant market for hydraulic breakers, primarily driven by the growth of the construction industry in the region. The region has a well-developed infrastructure and construction industry, which is increasing the demand for hydraulic breakers. Germany, France, and the United Kingdom are the major markets in the region.
Asia-Pacific: Asia-Pacific is the fastest-growing market for hydraulic breakers, primarily driven by the growth of the construction and mining industries in the region. The rapid urbanization and industrialization in countries such as China, India, and Japan are driving the demand for hydraulic breakers. China is the largest market in the region, followed by India and Japan.
Middle East and Africa: The Middle East and Africa region are expected to witness significant growth in the hydraulic breaker market due to the increasing demand from the construction and mining industries. The region is witnessing significant investments in infrastructure development and mining activities, which is driving the demand for hydraulic breakers.
Latin America: Latin America is another significant market for hydraulic breakers, primarily driven by the demand from the mining industry. The region has significant reserves of minerals and metals, which is driving the growth of the mining industry and, in turn, the demand for hydraulic breakers. Brazil, Mexico, and Chile are the major markets in the region.
Market Segmentation:
Type: The market can be segmented into light-duty, medium-duty, and heavy-duty hydraulic breakers, based on their weight and capacity.
Operating weight: The market can be segmented into hydraulic breakers with operating weights of less than 500 kg, 500-1200 kg, 1200-2000 kg, and more than 2000 kg.
Mounting type: The market can be segmented into backhoe-mounted, skid-steer loader-mounted, and others, based on the type of mounting.
Sales channel: The market can be segmented into OEM (original equipment manufacturers) and aftermarket, based on the sales channel.
Application: The market can be segmented into construction, mining, demolition, and others, based on the application of hydraulic breakers.
Competitive Landscape:
The global hydraulic breaker market is highly competitive, with the presence of several global and regional players.
Atlas Copco AB
Caterpillar Inc.
Doosan Infracore Co. Ltd.
Epiroc AB
Furukawa Rock Drill Co. Ltd.
Hitachi Construction Machinery Co. Ltd.
JCB Service
Komatsu Ltd.
Montabert SAS
NPK Construction Equipment Inc.
These companies are focusing on product innovation, strategic partnerships, and mergers and acquisitions to strengthen their market position. For instance, in October 2020, Epiroc AB launched its new hydraulic breaker, HB 7000 DP, which is designed for carriers in the 70-85 tonne range.
Other notable developments in the market include partnerships and collaborations between key players to expand their product portfolio and customer base. For instance, in May 2020, Doosan Infracore Co. Ltd. announced its collaboration with Steelwrist AB to develop and supply hydraulic excavators with Steelwrist’s fully automatic hydraulic quick coupler system.
Overall, the global hydraulic breaker market is highly competitive, with key players focusing on product innovation, strategic partnerships, and mergers and acquisitions to strengthen their market position.
Market Segmentation:
Type:
• Light-duty
• Medium-duty
• Heavy-duty hydraulic breakers
Operating weight:
• Less than 500 kg,
• 500-1200 kg,
• 1200-2000 kg,
• More than 2000 kg.
Mounting type:
• Backhoe-mounted
• Skid-steer loader-mounted
• Others
Sales channel:
• OEM
• Aftermarket
Application:
• Construction
• Mining
• Demolition
• Others
Regional Scope
North America
• U.S.
• Canada
• Mexico
Europe
• U.K.
• Germany
• France
• Italy
• Spain
• Rest of Europe
Asia Pacific
• China
• India
• Japan
• South Korea
• Australia
• Rest of Asia Pacific
South America
• Brazil
• Argentina
• Rest of South America
Middle East and Africa
• Saudi Arabia
• UAE
• Egypt
• South Africa
• Rest of Middle East and Africa
Quality Assurance Process
- We Market Research’s Quality Assurance program strives to deliver superior value to our clients.
We Market Research senior executive is assigned to each consulting engagement and works closely with the project team to deliver as per the clients expectations.
Market Research Process
We Market Research monitors 3 important attributes during the QA process- Cost, Schedule & Quality. We believe them as a critical benchmark in achieving a project’s success.
To mitigate risks that can impact project success, we deploy the follow project delivery best practices:
- Project kickoff meeting with client
- Conduct frequent client communications
- Form project steering committee
- Assign a senior SR executive as QA Executive
- Conduct internal editorial & quality reviews of project deliverables
- Certify project staff in SR methodologies & standards
- Monitor client satisfaction
- Monitor realized value post-project
Case Study- Automotive Sector
One of the key manufacturers of automotive had plans to invest in electric utility vehicles. The electric cars and associated markets being a of evolving nature, the automotive client approached We Market Research for a detailed insight on the market forecasts. The client specifically asked for competitive analysis, regulatory framework, regional prospects studied under the influence of drivers, challenges, opportunities, and pricing in terms of revenue and sales (million units).
Solution
The overall study was executed in three stages, intending to help the client meet its objective of precisely understanding the entire market before deciding on an investment. At first, secondary research was conducted considering political, economic, social, and technological parameters to get a gist of the various aspects of the market. This stage of the study concluded with the derivation of drivers, opportunities, and challenges. It also laid substantial emphasis on understanding and collecting data not only on a global scale but also on the regional and country levels. Data Extraction through Primary Research
The second stage involved primary research in which several market players and automotive parts suppliers were contacted to study their viewpoint concerning the development of their market and production capacity, clientele, and product line. This stage concluded in a brief understanding of the competitive ecosystem and also glanced through the strategies and pricing of the companies profiled.
Market Estimates and Forecast
In the final stage of the study, market forecasts for the electric utility were derived using multiple market engineering approaches. This data helped the client to get an overview of the market and accelerate the process of investment.
Case Study- ICT Sector
Business process outsourcing, being one of the lucrative markets from both supply- and demand- side, has appealed to various companies. One of the prominent corporations based out of Japan approached us with their requirements regarding the scope of the procurement outsourcing market for around 50 countries. Additionally, the client also sought key players operating in the market and their revenue breakdown in terms of region and application.
Business Solution
An exhaustive market study was conducted based on primary and secondary research that involved factors such as labor costs in various countries, skilled and technical labors, manufacturing scenario, and their respective contributions in the global GDP. A comparative study of the market was conducted from both supply- and demand side, with the supply-side comprising of notable companies, such as GEP, Accenture, and others, that provide these services. On the other hand, large manufacturing companies from them demand-side were considered that opt for these services.
Conclusion
The report aided the client in understanding the market trends, including country-level business scenarios, consumer behavior, and trends in 50 countries. The report also provided financial insights of crucial players and detailed market estimations and forecasts till 2033.
Frequently Asked Questions
What is the market size and growth projections?
The global hydraulic breaker market size was valued at around USD 2.3 billion in 2022 and expected to grow at a CAGR of 5.8% during the forecast period.
What are the drivers shaping various markets?
Increasing demand from construction and mining industries: The growing demand for construction and mining activities is driving the growth of the hydraulic breaker market. Hydraulic breakers are widely used in construction and mining activities for demolition and breaking down of structures and materials, which is increasing the demand for these equipment.
Who are the key competitors of market Players?
Some of the major players operating within the market are Atlas Copco AB, Caterpillar Inc., Doosan Infracore Co. Ltd., Epiroc AB, Furukawa Rock Drill Co. Ltd., Hitachi Construction Machinery Co. Ltd., JCB Service, Komatsu Ltd., Montabert SAS, NPK Construction Equipment Inc.,
What are the top performing segments, and countries / regions of each of the markets?
Middle East and Africa: The Middle East and Africa region are expected to witness significant growth in the hydraulic breaker market due to the increasing demand from the construction and mining industries. The region is witnessing significant investments in infrastructure development and mining activities, which is driving the demand for hydraulic breakers.
}})
Select a license type that suits your business needs
US $3499
Only Three Thousand Four Hundred Ninety Nine US dollar
- 1 User access
- 15% Additional Free Customization
- Free Unlimited post-sale support
- 100% Service Guarantee until achievement of ROI
US $4499
Only Four Thousand Four Hundred Ninety Nine US dollar
- 5 Users access
- 25% Additional Free Customization
- Access Report summaries for Free
- Guaranteed service
- Dedicated Account Manager
- Discount of 20% on next purchase
- Get personalized market brief from Lead Author
- Printing of Report permitted
- Discount of 20% on next purchase
- 100% Service Guarantee until achievement of ROI
US $5499
Only Five Thousand Four Hundred Ninety Nine US dollar
- Unlimited User Access
- 30% Additional Free Customization
- Exclusive Previews to latest or upcoming reports
- Discount of 30% on next purchase
- 100% Service Guarantee until achievement of ROI