The global cold milling machine market is witnessing significant growth. The growth of the market is attributable mainly to the rise in construction, especially non-residential construction projects.
From small to large scale, the adoption of the cold milling machine is gaining pace in road construction. The cold milling machine minimizes need of labor, while accomplishing projects in a quicker time.
The global cold milling machines market is moderately consolidated with the presence of fewer market players. The market players are focusing on the development and implementation of better products that use the latest technologies which is further boosting the global market.
Growing Investment in Road Rehabilitation
The global cold milling machine market will witness steady growth during the forecast period. With governments consistently investing funds to update old and aging roads, it is expected to create lucrative opportunities for the market players in the coming years.
Cold milling machine manufacturers are coming up with efficient marketing policies to achieve a competitive edge in the market. Fact.MR foresees the shift of focus of stakeholders in the cold milling machine market towards improving cutter drum, size, horsepower, local size, and weight restrictions during the deployment of these machines.
Besides, companies are expected to focalize on enhancing the overall performance of their machines and minimize the maintenance cost which is the major challenge market is dealing with. The notable growth of traffic congestion worldwide is forecast to progress the construction of new road systems, which, in turn, will create significant opportunities and demand for cold milling machines during the projection period.
The higher maintenance cost of cold milling machines continues to be a deterrent. Moreover, the higher initial cost means that market entry isn’t an easy proposition.
COVID-19 Impact on Cold Milling Machine Market
The ongoing COVID-19 pandemic has impacted every sector. From disrupting supply chains to administration activities, the global cold milling machine market also suffered due to the pandemic. Demand for cold milling machines was severely affected, especially during the initial phases of the COVID-19 outbreak.
The global cold milling machine market is primarily dependent on the construction sector. The construction sector was already shaping with multiple challenges from lack of funds and credit avenues to bankruptcies; COVID-19 marred it further. This, in turn, resulted in limiting the growth of the market.
Cold Milling Machine Market Analysis by Category
Based on the size, the large segment is projected to remain dominant during the forecast period. Following large size, the second spot is held by medium size in terms of market value.
By engine power, above 300 KW segment will account for the largest share of the global market. The segment currently leads the market and its growth is attributable to the high milling performance and greater reliability it offers to the users.
The asphalt road segment is expected to lead the global market through the assessment period. The growth of the segment is attributable to the growing demand for cold milling machines for repairing and maintaining asphalt roads. The demand for machines is forecast to be relatively higher in the case of asphalt roads than that for concrete roads as asphalt roads are easier to repair. Moreover, with a significant rise in the construction of concrete roads across emerging nations like India, China, and Malaysia, the demand for cold milling machines for concrete roads is expected to observe a progressive growth.
Regional Outlook of Cold Milling Machine Market
Asia Pacific accounts for the lion’s share of the global cold milling machine market. The region is most attractive in the global market owing to the rise in population and developments in transport infrastructure in Asia Pacific.
Manufacturers are penetrating the Asia Pacific region to augment their market share which is, in turn, propelling growth. Governments in Asia-Pacific are increasing their investment in infrastructure which is projected to have a positive impact on the global cold milling market. Increased urbanization in the region is leading to investments and making governments spend in emerging economies which is resulting in the growth of the cold milling machine market.
North America is one of the prominent regions holding a sizeable share of the market. The growth of the region is mainly due to the growing accident cases in countries like the U.S. leading to the construction of new roadways and repairing aged ones. The governments are consistently working to strengthen the construction sector creating lucrative opportunities for players in the region. Moreover, the growing digital penetration in the region has enabled the manufacturers to come up with products having greater capabilities and enhanced performances.
Following North America, Europe is another lucrative market for cold milling machines globally. The growth of the region is due to the strict government administration in the region and their changing approach towards more public-private partnerships in road construction.
The global cold milling machine market is fragmented owing to the presence of a considerable number of key players. The continuously growing government initiatives are further intensifying competition. The key manufacturers are launching new products in the market to remain in-sync with the demand in every situation and maintain their position.
For instance, in Japan, road lanes constantly need to be milled off flush to kerb on both sides without the cold milling machine performing any turning maneuvers. Wirtgen's W 200 Hi is the perfect choice for this work. It gives two zero-clearance sides. Moreover, the W 200 Hi features state-of-the-art engine technology to comply with the stringent specifications of emission standard US Tier 4f applicable in Japan.
The availability of the machines at the distribution channels further develops price variations attributable to an uptick in the competition among the local players. This is expected to lead manufacturers to deliver more cost-effective, newer generation and technologically superior cold milling machine during the forecast period.
Fact.MR has profiled some of the leading players in the global cold milling machine market including Astec Industries, Inc. (Roadtec.), Bomag GmbH, Caterpillar Inc., CMI Roadbuilding Ltd, Wirtgen group, Xugong Group Construction Machinery Co., Ltd., SANY GROUP, Jiangsu Huatong Power Heavy Industry Co., Ltd., Sakai Heavy Industries, Ltd, Liugong Machinery Co., Ltd. among others.
The Analysts Viewpoint
"Use of cold milling machines in Asia Pacific and Middle East is likely to offset some of the loss of momentum in traditionally strong markets of US and Europe.”
Cold Milling Machine Market: About the Report
Fact.MR has recently published an exclusive in-depth forecast report on the cold milling machine market for 2020 and 2030. The principal objective of this report is to outline key insights on the market scenario, demand generators, and competitive landscape in the market. Also, the study speaks key dynamics that are anticipated to increase the sales and future possibilities for the market. The report on the cold milling machine market offers detailed insights on the market.
The report further proceeds with the taxonomy of the cold milling machine market, elaborating on key segments. Also, the report outlines detailed insights on the dynamics of the market, including the drivers, restraints, opportunities, trends, and pricing analysis, along with the key factors favoring investment within the market.
Supply chain analysis and pricing analysis of the market have also been incorporated in the report, to help readers clearly understand the product framework map in the market.
A recent study by Fact.MR on the cold milling machine market offers a 10-year forecast for 2020 and 2030. The study analyzes crucial trends that will determine the growth of the cold milling machine market. This report explicates on vital dynamics, such as the drivers, restraints, and opportunities for key market players along with key stakeholders. The study also provides the dynamics that are responsible for influencing the future status of the cold milling machine market over the forecast period.
A detailed assessment of cold milling machine value chain analysis, business execution, and supply chain analysis across regional markets has been covered in the report. A list of prominent companies operating in the cold milling machine market along with their product portfolios enhances the reliability of this comprehensive research study.
Cold Milling Machine Market: Report Summary
The study offers a comprehensive analysis on diverse features, including demand, product developments, revenue generation, and sales in the cold milling machine market across the globe.
A comprehensive estimate on the cold milling machine market has been provided through an optimistic scenario as well as a conservative scenario, taking into account the sales of cold milling machine during the forecast period. Price point comparison by region with global average price is also considered in the study.
Cold Milling Machine Market: Segmentation
Fact.MR has studied the cold milling machine market with detailed segmentation on the basis of by size, engine power, application and key region.
Key Questions Answered in Fact.MR’s Cold Milling Machine Market Report
- Which are the most lucrative markets for cold milling machines?
- Which factors will impact cold milling machine market growth?
- How will changing trends impact the strategy of market players?
- How can market players capture the low-hanging opportunities?
- Which companies are leading the cold milling machine market?
- What are the winning strategies of stakeholders in the cold milling machine market?
Cold Milling Machine Market: Research Methodology
In Fact.MR’s study, a unique research methodology is utilized to conduct extensive research on the growth of the cold milling machine market, and reach conclusions on the future growth parameters of the market. This research methodology is a combination of primary and secondary research, which helps analysts ensure the accuracy and reliability of the drawn conclusions.
Secondary resources referred to by analysts during the preparation of cold milling machine market study include statistics from governmental organizations, trade journals, white papers, and internal and external proprietary databases. Analysts have interviewed senior managers, product portfolio managers, CEOs, VPs, marketing/product managers, and market intelligence managers, all of whom have contributed to the development of the cold milling machine market report as a primary resource.
Cold Milling Machine Market: Analysis on Market Size Evaluation
The cold milling machine market has been analyzed for each market segment in terms of value (US$ Mn).
Market estimates at global and regional levels for cold milling machines are available in terms of “US$ Mn” for value. A Y-o-Y growth contrast on prominent cold milling machine market segments, along with market attractiveness evaluation, has been incorporated in the report. Furthermore, absolute dollar opportunity analysis of all the segments adds prominence to the report. Absolute dollar opportunity plays a crucial role in assessing the level of opportunity that a manufacturer/distributor can look to achieve, along with identifying potential resources, considering the sales and distribution perspective in the global cold milling machine market.
Cold Milling Machine Market Assessment
Key sections have been elaborated in the cold milling machine market report, which have helped deliver projections on regional markets. These chapters include regional macros (political economic and business environment outlook), which are expected to have a momentous influence on the growth of the cold milling machine market during the forecast period.
Country-specific valuation on demand for cold milling machines has been offered for each regional market, along with market scope estimates and forecasts, price index, and impact analysis of the dynamics of prominence in regions and countries. For all regional markets, Y-o-Y growth estimates have also been incorporated in the report.
Detailed breakup in terms of value and volume for emerging countries has also been included in the report.
Cold Milling Machine Market: Competitive Landscape
The report sheds light on the leading manufacturers of respiratory virus vaccines, along with their detailed profiles. Essential and up-to-date data related to market performers who are principally engaged in the production of cold milling machines has been brought with the help of a detailed dashboard view. Market share analysis and comparison of prominent players provided in the report permits report readers to take preemptive steps in advancing their businesses.
Company profiles have been included in the report, which include essentials such as product portfolio and key strategies, along with all-inclusive SWOT analysis on each player. Company presence is mapped and presented through a matrix for all prominent players, thus providing readers with actionable insights, which helps in thoughtfully presenting the market status and predicting the competition level in the cold milling machine market. Prominent companies operating in the global cold milling machine market include Astec Industries, Inc. (Roadtec.), Bomag GmbH, Caterpillar Inc., CMI Roadbuilding Ltd, Wirtgen group, Xugong Group Construction Machinery Co., Ltd., SANY GROUP, Jiangsu Huatong Power Heavy Industry Co., Ltd., Sakai Heavy Industries, Ltd, Liugong Machinery Co., Ltd. among others.
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