Global Demolition Equipment Market is expected to cross more than USD 1 Billion by 2027

NEW YORK - Feb. 24, 2023 - PRLog -- The global demolition equipment market is expected to grow rapidly as the construction and mining industries expand and the need for efficiency grows. According to the Makreo Research Study, the market experienced a healthy growth rate of 3% in 2021, driven by changing consumer preferences and the rapid evolution of structural design methods. The need for global demolition equipment is also expected to increase in the coming years, as the construction industry expands and there is a growing demand for the demolition of old and inefficient structures.

The study highlights three major demolition projects that took place in the Asia Pacific region in 2022, including the Supertech Twin Towers in India and the AXA and Fuji Xerox Towers in Singapore. These projects demonstrate the increasing demand for global demolition equipment, particularly in emerging markets.

The ongoing conflict between Russia and Ukraine is also having a significant impact on the global mining industry. As commodity prices fluctuate rapidly, there is a growing demand for raw materials such as neon, palladium, platinum, nickel, copper, and iron. The mining industry is increasingly in the spotlight as global supply chains attempt to keep up with expanding demand, which is driving higher demand for demolition equipment.

Further Key Findings:-

1. Adopting Drones for Construction: Drones can provide inaccessible footage and cover large areas quickly, producing sharp images that can be saved and shared later. This technology is useful for surveying, analyzing, and marketing construction projects.
2. Increase in Investments for Construction: Both government and private sector investments in construction have increased along with the growth in the world GDP. With the increasing number of projects and larger-scale operations, the demand for demolition work will surely expand.
3. Sustainable Demolition: The introduction of sustainable demolition has significantly improved the process, with over 90% of waste being recycled. The industry aims to recover 98% of the total material, reducing project expenses by reusing the majority of the recovered materials.

For more information on the Research Report, refer to the below link:-
Global Demolition Equipment Market Report - Size, Analysis and Future Forecast (https://www.makreo.com/report/global-demolition-equipment...)

Competitive assessment:- Global Demolition Equipment Market Competitive Assessment (https://www.makreo.com/report/global-demolition-equipment...)

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