ID: MRFR/CO/6989-HCR | February 2021 | Region: Global | 110 pages
The Global Cold Milling Machine Industry 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 machines market.
Cold milling machine is a heavy construction equipment mainly used for removing old asphalt pavements from road surfaces, resulting in an even surface. The cold milling machine is also known by different names as pavement planers, cold planers, mill or asphalt milling machine pavement recyclers and roto-mills.
The Global Cold Milling Machines Market has been segmented into five regions, including North America, South America, Asia-Pacific, Asia-Pacific and the Middle East & Africa. In 2018, the market in Asia-Pacific was the largest market for cold milling machine, followed by North America and Europe.
A healthy spread of road construction projects is further supporting the stability of the Asia-Pacific pavement milling machine market. The governments in Asia-Pacific are expected to increase their investment for infrastructure in the coming years, which will likely have a positive impact on global cold milling market. Increased urbanization leads to investment and government spending particularly in emerging economies, resulting in the growth of infrastructure development for the road construction industry in the region.
Asia-Pacific is set to witness the highest growth rate in the global cold milling machines market due to the rapid urbanization in China, India, and other emerging economies in the region.
The key players in the Global Cold Milling Machine Industry include John Deere (US), CMI Roadbuilding Limited (UK), Wirtgen Group (Germany), Caterpillar (US), XCMG (China), Astec Industries (US), Bomag (Germany), Dynapac (Sweden) Huatong Kinetics (China), and LiuGong (China).
The Global Cold Milling Machine Industry 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.
The 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 cold milling machine industries 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.
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.
|Market Size||2025: USD 1.37 Billion|
|CAGR||4.17% CAGR (2020-2027)|
|Forecast Units||Value (USD Billion)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Type, Milling Width, Application, Region|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||John Deere (US), CMI Roadbuilding Limited (UK), Wirtgen Group (Germany), Caterpillar (US), XCMG (China), Astec Industries (US), Bomag (Germany), Dynapac (Sweden) Huatong Kinetics (China), and LiuGong (China).|
|Key Market Opportunities||
|Key Market Drivers||
Frequently Asked Questions (FAQ) :
Global cold milling machine market is projected to grow at approximately 4.17% CAGR during the assessment period (2019-2025).
Global cold milling machine market had created a valuation of around USD curtain wall BN in 2018
Based on type, crawler segment, based on milling width, above 2.0 m milling width machines, and based on applications the construction sector holds majority shares in the global cold milling machine market.
Asia Pacific holds the largest share in the global cold milling machine market, followed by North America and Europe, respectively.
CMI Roadbuilding Limited (UK), Huatong Kinetics (China), Wirtgen Group (Germany), Caterpillar (US), Dynapac (Sweden), XCMG (China), LiuGong (China), Astec Industries (US), Bomag (Germany), and John Deere (US), are some of the top players operating in the global cold milling machine market.