What is Global Road Milling Machine Market?
The Global Road Milling Machine Market is a vast and dynamic sector that plays a crucial role in the construction industry. Road milling machines are specialized equipment used to remove the surface layer of roads without disturbing the underlying structure. They are essential for road maintenance, repair, and construction. The global market for these machines is substantial, with a value of US$ 1171 million in 2023. It is projected to reach US$ 1610.3 million by 2030, growing at a Compound Annual Growth Rate (CAGR) of 4.6% during the forecast period from 2024 to 2030.
Wheeled Road Milling Machine, Tracked Road Milling Machine in the Global Road Milling Machine Market:
The Global Road Milling Machine Market is segmented into two main types of machines: Wheeled Road Milling Machines and Tracked Road Milling Machines. Wheeled machines are typically used for smaller jobs and are easier to maneuver, while tracked machines are used for larger, more complex projects. These machines are produced by several major manufacturers, including Wirtgen, Caterpillar, XCMG, Bomag, Dynapac, and RoadTec, which collectively hold a 60% share of the market. The distribution of these types of machines is roughly 58% for wheeled and 42% for tracked.
Road Construction, Public Engineering in the Global Road Milling Machine Market:
The primary applications of the Global Road Milling Machine Market are in road construction and public engineering. Road construction accounts for 72% of the usage of these machines, while public engineering accounts for 27%. These machines are essential for maintaining and improving the infrastructure that is vital to our daily lives. They are used to remove old road surfaces, prepare surfaces for new pavement, and perform other tasks related to road construction and maintenance.
Global Road Milling Machine Market Outlook:
In terms of the market outlook, the Global Road Milling Machine Market is expected to continue its steady growth. Europe is currently the largest market for these machines, accounting for more than 40% of the global market. The market is driven by the ongoing need for road maintenance and construction, both in developed and developing countries. As infrastructure continues to age and new roads are needed to support growing populations and economies, the demand for road milling machines is expected to remain strong.
| Report Metric | Details |
| Report Name | Road Milling Machine Market |
| Accounted market size in 2023 | US$ 1171 million |
| Forecasted market size in 2030 | US$ 1610.3 million |
| CAGR | 4.6% |
| Base Year | 2023 |
| Forecasted years | 2024 - 2030 |
| Segment by Type |
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| Segment by Application |
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| Production by Region |
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| Consumption by Region |
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| By Company | Wirtgen, Caterpillar, XCMG, Bomag, Dynapac, RoadTec, CMI, Sany Group, Shantui, SAKAI HEAVY INDUSTRIES, LTD., LiuGong, Xi'an Hongda, Kaiao, XGMA |
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
