According to the latest research by Fact.MR, the dynamic compactor market is anticipated to increase at a higher pace with a CAGR of 5.6% in the next 10 years. Constant growth is seen in the industrial sector which has led to a subsequent increase in the use of compactors. Along with this, the construction activities are shooting up at a great speed resulting in an upturn in the requirement of such compactors.
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It is used to increase the stiffness in soil, to increase friction angle, to promote soil densification caused by vibration and re-organization of particles, and to help increase the bearing capacity. Therefore, the above key factors are contributing to the rise in demand for compactors and are expected to do so over the assessment period.
The cost effectiveness and efficiency of the compactor is the reason behind its expanding demand. It provides the benefit to strengthen the weak soil and to mitigate liquefaction risks. Alongside it has property to compact the subsoil to avoid liquefaction under an earthquake, which is why it is required by most of the activities related to construction to provide a strong and healthy base.
Both, household and commercial sectors are showing an escalation in terms of construction activities. Several statues and buildings carrying a particular significance are also being constructed as per the instructions of the government to improve the outlook of different regions. All these drivers are responsible in shooting up the demand for compactors in the market. Hence, with an increase in all these activities, there will be a subsequent increase in the demand.
Covid-19 pandemic has caused an immense destruction globally. Almost every possible industry across the world have faced its consequences and will continue to experience them for a long period of time. The economic growth is hampered, thus showing a decline in the overall development.
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A decrease in revenues of different industries has been observed over a period of time. Small, medium and even big businesses suffered with heavy losses during this time. It has made them downsize their operations and shut down in other cases and has the deeply disturbed the economy.
The lockdown in different countries has stalled the operations of the construction sites and almost every industry was put at a halt. This resulted in the depletion of demand for dynamic compactors.
But, after the lockdown, as different sectors are becoming operational and resuming their activities, the demand is again escalating. Increasing performances of the construction activities like building houses, highways and bridges have given a boost to the demand in the market.
The demand for the dynamic compactor has been studied for six different regions including North America, Latin America, Europe, East-Asia, South-Asia & Oceania and Middle-East & Africa.
Out of these, the Asia Pacific occupies the largest market share and has generated significant volume which may propel the growth in the market. The increasing construction and infrastructural activities in this particular region have led to a subsequent increase in demand for the compactors in regional market.
After the lockdown has been lifted in this particular region, countries such as India and China are showing a hike in demand due to the fact that several sectors are gaining back their pace including the construction sites.
There are different leading manufacturers in this market such as
The organic and inorganic growth including adoption of different strategies such as product innovation, partnerships, expansions, mergers and acquisitions and other expansion ideas by different players in the market has led to the overall development. These growth opportunities will result in even higher demand for compactors at different construction sites.
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