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- Global Jackhammer Market
Global Jackhammer Market to Reach US$ 732.7 Million by 2032, Impelled by Significant Growth in Construction Industry
October 25, 2022
| Chemical & Materials
According to the latest report by IMARC Group, titled "Jackhammer Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032," the global jackhammer market reached a value of US$ 489.2 Million in 2023. A jackhammer is a rock-drilling equipment used to demolish or break pavement, rock, and concrete. It consists of a piston rod, which moves up and down to push the drill rod and provides a blend of chisel and hammer in one tool. Its characteristics include durability, low maintenance costs, and seamless operations. Widely available in numerous sizes, hand-held jackhammers are usually powered by compressed air. Larger jackhammers, such as rig-mounted hammers that are commonly utilized as construction machinery to crack the hard surface or rocks during construction works, are generally hydraulically powered.
Global Jackhammer Market Trends:
The global market is majorly driven by the flourishing construction sector. In line with this, the rising construction of roads, tunnels, and railway tracks is positively influencing the market. Furthermore, the growing demand for metal and mineral commodities has catalyzed the development of the mining and quarry industries, which, in turn, is propelling the demand for jackhammers. Besides this, continual breakthroughs in electric jammer systems and heavy investments made by industry participants in production activities are contributing to the market expansion. Additionally, the increasing funding for construction projects by the governments in developing countries are creating numerous lucrative growth opportunities in the market. Other factors, including rapid industrialization and an upsurge in the necessity of residential spaces, are further providing a boost to the market growth worldwide. On account of the aforementioned factors, the market is anticipated to reach a value of US$ 732.7 Million by 2032, exhibiting a CAGR of 4.5% during 2024-2032.
Market Summary:
- On the basis of the type, the market has been segmented into pneumatic, electric, and hydraulic.
- Based on the application, the market has been classified into construction, mining, tunnelling, and well drilling.
- On the basis of the region, the market has been divided into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Latin America (Brazil, Mexico and others) and the Middle East and Africa.
- The competitive landscape of the market has been studied in the report with detailed profiles of the key players operating in the market. Some of the key players include Atlas Copco AB, Einhell Germany AG, Hilti Corporation, INDECO ind S.p.a., Koki Holdings Co. Ltd., Makita Corporation, Robert Bosch GmbH, Stanley Black & Decker Inc., Techtronic Industries Co. Ltd. and TR Industrial.
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