Hydraulic Attachments For Demolition Market Expected to Reach $7.1 Billion by 2033—Allied Market Research

According to a new report published by Allied Market Research, titled, “Hydraulic Attachments For Demolition Market," The hydraulic attachments for demolition market size was valued at $4.1 billion in 2023, and is estimated to reach $7.1 billion by 2033, growing at a CAGR of 5.6% from 2024 to 2033.

A hydraulic attachment for demolition is a construction machine that attaches a powerful breaker/hammer, crusher/shear, pulverizer, grapple, or other attachments to an excavator to dismantle hard rocks and structures or earth moving application. It is driven by the excavator's auxiliary hydraulic system, equipped with a foot valve. 

Demand for hydraulic attachments for demolitions for old construction is increasing due to the growth of infrastructure, residential, and commercial facilities. In addition, increasing population and indirectly rising demand for roads, bridges, highways, and tunnels are expected to drive the hydraulic attachments for demolitions market during the forecast period. In addition, high productiveness, high effect performance and energy recovery can increase output in the shift, and reduced power and gas intake are just some of the advantages of hydraulic attachments for demolitions driving the growth of the hydraulic attachments for demolition market. Therefore, key market players are focusing on manufacturing superior hydraulic attachments for demolitions for building and mining applications. For example, in August 2023, Jiangtu's launched innovative multipurpose grapple that represents a breakthrough in integrating multiple functions into a single machine. This versatile equipment incorporates various claws that can be easily selected and interchanged based on diverse working conditions, offering a flexible and cost-effective solution. In addition, in August 2021, Caterpillar launched a new generation of primary and secondary pulverizer attachments for use on excavators from 18 tons to 50 tons. The new Cat pulverizer line includes three rotatable primary models, the P318, P324 and P332—which feature 360-degree rotation, and three fixed secondary models, the P218, P224, and P232.

Furthermore, the market is growing lucratively due to increased government investment in infrastructure sector. For instance, in September 2023, Mitsubishi Estate has started the construction of the Torch Tower, and is expedted to become Japan's tallest building at approximately 390 meters. The new skyscraper, located near Tokyo Station, is expected to be completed by March 2028. Once completed, it will surpass the 330-meter Azabudai Hills Mori JP Tower in Tokyo's Minato Ward, which is holding the title of the country's tallest building. This ambitious project reflects Japan's ongoing commitment to architectural advancements and urban development. Such instances are expected to drive the construction sector, which, in turn, drive the growth of the hydraulic attachments for demolition industry.

Heavy and advanced construction equipment such as hydraulic attachments for demolition need trained operators to operate the equipment, as they are equipped with various levers and gears, making them function appropriately. However, one wrong move can lead to several problems such as failure in carrying out the desired operations. Moreover, high initial investments is expected to restrain the growth of the hydraulic attachments for demolition market.

Expansion in the mining sector in the regions such as Asia-Pacific, North America, and others notably contribute toward the growth of the global market. Moreover, government investment in infrastructure development are rising which is expected to fuel the growth of the hydraulic attachments for demolitions market. For example, in 2022-2023 the National Highways Authority of India has announced plan to build 25,000 km of national highways at a pace of 50 km each day. Therefore, all such instances are expected to drive the growth of the Asia-Pacific hydraulic attachments for demolition market. However, shortage of skilled officials and declining new construction projects are the factors expected to hinder the market growth.

Contrarily, the call for for hydraulic attachments for demolitions has been growing considerably due to multiple authorities funding in mining for minerals, coal, and metals. For example, in August 2022, the gold mining business enterprise, Theta Gold Mines based in Australia, planed to restart Mpumalanga Province, South Africa based historical underground gold mines at the Transvaal Gold Mining Estate (TGME). Such instances are expected to drive the demand for hydraulic attachments for demolitions and provide many opportunities for hydraulic attachments for demolition market growth.

KEY FINDINGS OF THE STUDY

• The report provides an extensive analysis of the current and emerging market hydraulic attachments for demolition market trends and dynamics.
• By type, the breaker/hammer segment has registered highest revenue in 2023.
• Depending on application, the earth moving, and demolition segment dominated the hydraulic attachments for demolition market share, in terms of revenue in 2023 and mining and excavation is projected to grow at a significant CAGR during the forecast period.
• On the basis of end user, construction segment generated highest revenue in 2023.
• Asia-Pacific is projected to register the highest growth rate in the coming years.
• The key players within the global hydraulic attachments for demolition market are profiled in this report, and their strategies are analyzed thoroughly, which helps understand the competitive outlook of the street cleaning machine industry.
• The hydraulic attachments for demolition market forecast analysis from 2024 to 2033 are included in the report.
• In-depth global hydraulic attachments for demolition market analysis are conducted by constructing estimations for the key segments between 2024 and 2033.