In fast-growing economies and developing markets, the construction industry is expected to gain traction in the coming decade. Advancements in the mining and construction industries have led to the higher acceptance of equipment’s such as pedestal boom system, which are generally used for breaking rocks, concrete, etc. Different types of pedestal boom system are available based on horizontal reachability from 13 ft. to 37.8 ft. for all types of stationary and portable crusher.
The pedestal boom system market is currently in between the growth and mature stages, and the production of pedestal boom system is directly related to the growth in the construction sector. Moreover, strong outlook of construction and mining industry in the coming years will create considerable opportunities for pedestal boom system manufacturers.
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Pedestal Boom System Market: Market Dynamics
Increasing need of rock breaking equipment’s with high efficiency and safer operations, is expected to be a prime factor driving the growth of the global pedestal boom system market over the forecast period. Moreover, advancement in technology coupled with growing automation will also give traction to the growth of the pedestal boom system market in near future. That apart, the growth of end use industries such as construction and mining industries, both in developed and developing regions, will further add to the growth of the pedestal boom system market.
Pedestal boom system needs qualified workers to manage the functions, which is anticipated to be a key factor hampering the growth of the pedestal boom system market over the forecast period. Moreover, pedestal boom system require high capital investment as well as incur high maintenance costs, which will further act as a restraining factor for the growth of the pedestal boom system market in the near future.
A key trend anticipated five years down the line includes market leaders of pedestal boom system are focused on maintaining long terms partnership with customers for service and maintenance. Moreover, the manufacturers of pedestal boom system are focusing on strategic expansion to expand their presence across the globe.
Pedestal Boom System Market: Segmentation
The global pedestal boom system market can be segmented on the basis of horizontal reach, sales channel, and application.
On the basis of horizontal reach, the global pedestal boom system market can be segmented as:
- Less than 20 ft.
- 20 – 30 ft.
- More than 30 ft.
On the basis of sales channel, the global pedestal boom system market can be segmented as:
- OEM (Original Equipment Manufacturer)
On the basis of application, the global pedestal boom system market can be segmented as:
- Demolition & Renovation
- Metallurgical Industry
- Mining & Quarry
- Earth Moving & Construction
Pedestal Boom System Market: Regional Outlook
Over the forecast period, Asia Pacific is expected to witness massive growth in the pedestal boom system market, owing to the anticipated growth in the construction sector in emerging economies such as the China and India. Owing to the growing demand for pedestal boom system from the mining and construction industries in the region, North America is estimated to grow at a considerable CAGR during the forecast period.Western Europe is estimated to grow at a considerable CAGR during the forecast period, owing to increasing construction spending in the region. Latin America is anticipated to witness growth in the pedestal boom system market over the forecast period. The Middle East and Africa (MEA) is projected to grow at a significant rate over the forecast period, owing to growing construction activities in countries such as Saudi Arabia, UAE, etc.
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Pedestal Boom System Market: Market Participants
Example of some of the key participants identified across the value chain of the global pedestal boom system market include:
- NPK Construction Equipment, Inc.
- Okada America Inc.
- Allied Pedestal Boom Systems, LLC
- Nakoda Machinery Pvt. Ltd.
- Tramac Equipment Ltd.
- INDECO IND. SpA
- Pierce Pacific Manuracturing, Inc.
- Auriga Machinery India Pvt. Ltd.