Cold milling machines are used for quick, efficient removal of asphalt and concrete pavements. The milling process is removing part of the surface of a paved area such as a road, bridge, or parking lot for various requirements. The cold milling machine market is projected to grow at a promising rate in the upcoming years. The surge in demand for cold milling machines from varied application segments is estimated to safeguard the expansion of the market during the forecast period.
Market Scope and Structure Analysis
Cold milling machines are majorly used for making pavements. These are also known as cold planers and asphalt milling machines that remove concrete or pavement from driving surfaces. Rise in infrastructure development projects in developing regions such as Asia-Pacific and Latin America are expected to surge the demand for the product.
COVID-19 Impact Analysis
- COVID-19 pandemic has shut down a large number of construction sites, power plants, chemical storage industry, technology advancement companies, and others. This has hampered the growth of the cold milling machine market in the last few months and is likely to continue during 2021.
- COVID-19 has already affected the sales of cold milling machines in the first quarter of 2021 and is anticipated to weaken the market growth throughout the year.
- The major demand for cold milling machines was previously noticed from giant manufacturing countries including the U.S., Germany, Italy, UK, and China, which are negatively affected by the spread of the pandemic, thereby declining the demand for services for cold milling machines.
- Further, the potential impact of the lockdown is currently vague and the financial recovery of companies is based on its cash reserves. Key players of the cold milling machine market are expected to afford a full lockdown only for a few months, after which the players have to modify their investment plans. For instance, various players in the market halted their service activities for several weeks to reduce the expenses. Whereas few players also adopted employee lay-offs to sustain during the COVID-19 health crisis
- The cold milling machine market is expected to focus on protecting its workforce, operations, and supply chains to respond to immediate crises and find new ways of working after COVID-19. For instance, provision of sanitizers, maintaining social distancing, as well as ensuring the vaccination of every employee in the company can assist in promoting the health & safety of the workforce.
Top Impacting Factors
One of the significant drivers for the cold milling machine market is the progress in the construction of new roads, to connect rural to urban areas and also from urban to ultra-urban areas. New policies from the government and foreign investments also foster the market growth.
Market Trends
- For enhancing the speed of the work and enable precise product delivery the key players in the market such as Astec Industries, Inc. (Roadtec), BOMAG GmbH, Caterpillar Inc., CMI Roadbuilding Limited, and others are inclining towards the cold milling machine.
- WIRTGEN GROUP introduced modern small milling machines which give high mobility and flexibility, they are used for machining small surfaces and for precise milling in confined spaces and are equipped with a wheeled chassis.
- SCHWING Stetter India has joined its hand with world-renowned construction equipment manufacturer XCMG for introducing advanced construction equipment in India. SCHWING - XCMG introduces a range of road machinery like Motor graders and cold milling machines which withstand extreme conditions in construction sites. GOMACO - The worldwide leader in concrete paving technology joined its hand with Schwing Stetter India for introducing their concrete paving machine ranges with advanced technology.
Key Benefits of the Report
- This study presents the analytical depiction of the cold milling machine market along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with a detailed analysis of the cold milling machine market share.
- The current market is quantitatively analyzed to highlight the cold milling machine market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed cold milling machine market analysis based on competitive intensity and how the competition will take shape in the coming years.
Cold Milling Machine Market Report Highlights
| Aspects | Details |
 By Machine Type |
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 By Engine Power Type |
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 By Size |
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 By Application |
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 By Region |
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 Key Market Players | Caterpillar Inc., XCMG Group., Astec Industries, Inc, SAKAI HEAVY INDUSTRIES, LTD., CMI Roadbuilding Limited, SANY Group, Deere & Company, BOMAG GmbH, Liugong Machinery Co., Ltd., WIRTGEN GROUP |
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