Pune, India, October 2019, MRFR Press Release/- Market Research Future has published a Half-Cooked Research Report on the Global Cold Milling Machine Market.
The global market for cold milling machine has been witnessing significant growth in the past few years. The booming construction sector is fueling the market demand of cold milling machines. The cold milling machines are mainly used for removing pavements and resulting in even surfaces. The increasing urbanization and rise in investment for construction are the prime factors that are driving the growth of the cold milling machine industry.
The global cold milling machine market has been segmented based on type, width, application, and region. The global cold milling machine market is segmented by type as wheel-type and crawler-type. The crawler-type segment held the largest market share of the global cold milling machine market in 2018; it is expected to have the highest growth during the forecast period. The global cold milling machine market is segmented by milling width as 0–1.3 m, 1.3–2.0 m and above 2.0 m. By application, the global cold milling machine market is segmented as concrete pavement and asphalt pavement. The asphalt pavement segment is set to witness the highest growth rate and is projected to majority of market share in global cold milling machine market
Asia-Pacific is estimated to be the fastest growing market in the global cold milling machine market during the forecast period: MRFR
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.
The Global Cold Milling Machine Market size was valued at USD 1.37 billion in 2018, which is expected to witness 4.17% CAGR during the forecast period.
Global Cold Milling Machine Market, 2018–2025 (USD Million)
Source: MRFR Analysis
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.
Access Report Details @ https://www.marketresearchfuture.com/reports/cold-milling-machine-market-8461
The prominent players in the Global Cold Milling Machine Market include Wirtgen Group (Germany), CMI Roadbuilding Limited (UK), Caterpillar (US), Astec Industries (US), XCMG (China), Bomag (Germany), John Deere (US), Huatong Kinetics (China), Dynapac (Sweden), and LiuGong (China).