LONDON--(BUSINESS WIRE)--Technavio market research analysts forecast the global hydraulic breakers market to grow at a CAGR of more than 3% during the forecast period, according to their latest report.
This market research report segments the global hydraulic breakers market based on product (small and medium range and large range), end-user (mining industry and construction industry), and geography (the Americas, APAC, and EMEA).
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In this report, Technavio analysts highlight the top market drivers that are contributing to the growth of the global hydraulic breakers market:
- Demand for artificial sand
- International events in first-time hosting countries
Demand for artificial sand
Infrastructure projects need river sand because it gives strength to the structures and acts as an adhesive for construction materials such as brick, asphalt, concrete, and cement. But, the extraction of river sand from river basins has a negative impact on the environment. These negative impacts include erosion of river banks and harmful effect on the local wildlife. Moreover, river sand is getting exhausted because of extensive use.
Several governments across the world have restricted the use of river sand because of its harmful environmental effects. Besides, transportation of river sand also increases the overall cost of the infrastructure project as most projects take place at areas that are distant from river basins. In addition, because of the cost and environmental aspects associated with river sand, project owners look for better alternatives such as artificial sand. Artificial sand is produced by crushing granite or basalt rocks with the help of crushing equipment. The rocks are very large in size and cannot fit inside the crushing equipment. Thus, hydraulic breakers are used to break these large rocks into smaller rocks that can be fed into the crushing equipment and converted into sand.
According to a senior analyst at Technavio for construction, “It is expected that more countries will push for a complete ban on river sand for construction projects. This trend will increase the demand for artificial sand and will be cost-effective for project owners. Therefore, due to the demand for crushing equipment and artificial sand, the demand for hydraulic breakers will increase during the forecast period.”
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Global hydraulic breakers market segmentation
Of the two product segments, the small and medium range segment dominated the market by contributing approximately 77% in 2017 and will continue to dominate the market over the next five years. But the segment is projected to concede about 1% of its market share to the large range segment in 2022.
Hydraulic breakers are an essential mining equipment used widely in mining activities and operations. In many regions, such as the Americas and EMEA, mining operations were closed temporarily because of the slow demand for metals and minerals. Because of this stagnant growth in the mining industry, the demand for mining equipment was slow. But, the mining industry performed better in APAC than the other two regions. This was attributed to the increasing demand for metal-based products such as electronic products in developing nations of APAC such as India and China.
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