Hydraulic Hammer Market

Hydraulic Hammer Market Size, Share & Growth Forecast by Weight (2 to 3 Tonnes, 3.1 to 6 Tonnes, Above 6 Tonnes), End-use Industry (Mining, Quarries, Construction, and Others), Sales Channel (OEM, Aftermarket), and Region for 2024 - 2033

Report ID: PMRREP33435

Number of Pages: 190

Format: PPT*, PDF, EXCEL

Industry: Industrial Automation

Published Date: June-2024

Report Price

$4900*

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Hydraulic Hammer Market Size and Share Analysis

The global market for hydraulic hammer is expected to rise from US$ 1.5 Bn in 2024 to US$ 2.6 Bn by the end of 2033. The market is anticipated to secure a CAGR of 5.9% during the forecast period from 2024 to 2033.

Attributes

Key Insights

Market Size (2024E)

US$ 1.5 Bn

Projected Market Value (2033F)

US$ 2.6 Bn

Global Market Growth Rate (CAGR 2024 to 2033)

5.9%

Historical Market Growth Rate (CAGR 2019 to 2023)

4.9%

Key Highlights of the Market

  • Growing demand in mining operations for rock breaking
  • Expansion of construction activities globally
  • Shift towards sustainable solutions
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Market Introduction and Key Trends

Modernization and development of infrastructure in the construction industry have boosted the demand for hydraulic hammers on a global scale. Hydraulic hammers are employed in construction activities such as excavation and demolition, making them essential tools for infrastructure development and renovation.

In recent years, there has been a noticeable increase in safety concerns among end-use industries when using heavy equipment such as hydraulic hammers. Despite the challenges faced by businesses, including labor and time, the advantages of using hydraulic hammers have made work much easier. The higher operational efficiency of hydraulic hammers is a key factor that is driving their demand across industries and regions.

The hydraulic hammer market is experiencing significant growth with the ongoing global infrastructure development initiatives. The expansion of the mining industry is a significant driver of the market.

As the demand for minerals and metals continues to rise across various sectors such as manufacturing, energy, and construction, mining companies are ramping up their operations.

The need for efficient and reliable equipment in mining operations is propelling the demand for advanced hydraulic hammer technologies that can enhance productivity and reduce downtime.

The aftermarket demand for replacement parts and maintenance services also plays a significant role in driving the overall demand for hydraulic hammers. As these tools are subject to wear and tear during operation, there is a continuous need for replacements and servicing, further boosting market growth.

Growth of the global population and urbanization has resulted in a surge in demand for housing, infrastructure, and industrial developments. There has been an increased demand for hydraulic hammers to facilitate construction activities.

Sales of hydraulic hammers are expected to increase significantly, as manufacturers are developing advanced technologies such as automation, robotics, and artificial intelligence during the forecast period. These technologies are expected to enhance the efficiency, speed, and accuracy of hydraulic hammers, resulting in significant advantages in terms of cost savings, productivity, and safety.

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Historical Growth and Course Ahead

The hydraulic hammer market experienced steady growth from 2018 to 2022. This was primarily driven by increasing construction and mining activities across the world, which demanded efficient and powerful equipment such as hydraulic hammers. In 2018, the market was valued at around US$ 1.04 billion and continued to expand at a CAGR of 4.8% to reach US$ 1.2 billion by the end of 2022.

Europe held a leading share of the global market due to increasing construction activities in countries such as Russia, Germany, and Italy. North America and Asia Pacific followed closely.

In terms of weight, while the 3.1 to 6-tonne segment holds a substantial share of the market, demand for hammers weighing above 6 tonnes has been increasing steadily due to their higher efficiency and power. This segment is anticipated to hold a significant market share due to increasing mining and construction activities across the world. The aftermarket segment dominated the market in 2018, but the adoption of the OEM sales channel has been gaining traction, primarily due to its convenience and cost-effectiveness.

Demand for hydraulic hammers is expected to be driven further by the growing mining industry and exploration activities during the forecast period. The increasing focus on sustainability and environmental regulations is expected to be another driving factor for the market. Governments across the world are prioritizing sustainable development and promoting the use of eco-friendly equipment. With advancements in technology, the equipment is becoming more environmentally friendly.

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Market Growth Drivers

Expansion of Construction and Mining Industries

Increase in infrastructure, residential, and commercial construction is boosting the demand for hydraulic hammer market. Growing population necessitates increased construction of roads, highways, bridges, and tunnels. Hydraulic hammers offer several advantages such as high productivity, high-impact performance, and energy recovery that can increase the output per shift. Hydraulic hammers are known for their ability to lower energy and fuel consumption, making them an efficient and cost-effective option for a variety of industries.

A rising number of housing and infrastructure projects and improvements in public transportation including railways and roadways are expected to lead to significant investments in tunnelling and road construction projects in different countries. These countries include India, South Africa, Brazil, and Mexico. The increasing use of hydraulic hammers in most quarries instead of explosives to free rock from the quarry is continuously driving hydraulic hammers market demand.

Growing Construction of Commercial Spaces

Growing population and urbanization create significant demand for construction and mining projects. This, in turn, increases the need for powerful mining and construction equipment to save time and increase productivity.

The construction of commercial spaces is increasing day by day, thanks to government support in the form of loans, foreign direct investment (FDI), and subsidies. Efforts to build highways, dams, railways, and roads are also on the rise, which is expected to further boost the demand for hydraulic hammers.

Increasing Exploration and Mining Activities Worldwide

Demand for mining is increasing significantly as a result of the rising global mineral consumption. Several prominent mining projects in various countries around the world are expected to lead to an increase in mineral production. The rising number of mining projects is driving the demand for advanced machinery, leading to an increase in demand for hydraulic hammers on a global scale.

Various mining and exploration companies are channelizing their investments toward extracting minerals from underground mines and using advanced technologies to extract minerals from deeper locations.

Factors Impeding the Market

Market Saturation to Restrain Market Growth

The market might be saturated with existing brands and products, making it difficult for new entrants to gain a foothold or for existing players to expand their hydraulic hammer market share. Saturation can indicate that most potential customers already have the product or service, leaving little room for new customer acquisition. This limits the potential for market expansion and forces companies to focus on gaining market share from competitors rather than tapping into new customer segments.

Substitute Products to Hamper Market Growth

Substitute products may offer alternative technologies or methods for achieving similar outcomes to hydraulic hammers. For example, Pneumatic hammers or electric breakers might offer similar functionality in certain applications. If these alternatives are perceived as more cost-effective, efficient, or environment-friendly, they can draw customers away from hydraulic hammers.

Some companies offer a diverse range of demolition and construction equipment that can serve as substitutes for hydraulic hammers. For instance, Hydraulic excavators with specialized attachments or multi-functional demolition machines may provide alternatives to traditional hydraulic hammers. This diversity in product offerings gives customers more options to choose from, potentially reducing demand for hydraulic hammers.

Future Opportunities for the Hydraulic Hammer Market Players

Collaboration and Partnerships

Collaborating with other players in the construction equipment ecosystem, such as excavator manufacturers or software developers, can lead to synergistic opportunities. Joint ventures, strategic partnerships, or technology alliances can accelerate innovation, expand market reach, and enhance competitiveness.

Collaborating with local distributors or partners enables hydraulic hammer manufacturers to penetrate new geographic regions where they may not have had a strong presence previously. This expands their market reach and allows them to capitalize on emerging opportunities in developing markets.

Partnerships with complementary businesses, such as excavator manufacturers or construction equipment rental companies, can lead to bundled offerings or integrated solutions. This allows hydraulic hammer manufacturers to offer comprehensive packages that meet the diverse needs of customers, enhancing their competitiveness in the market.

Category-wise Analysis

Category

Value in 2023

3.1 to 6 Tonnes

US$ 384.6 million 

3.1 to 6 Tonnes Type of Hydraulic Hammers Exhibit Significant Share in the Market

The 3.1 to 6 tonnes segment holds prominent share of the global market. These hammers have advantages over both 2 to 3-tonne hammers and those weighing 6 tonnes and above. It is predicted that this segment would witness considerable expansion due to rising demand and acceptance of hydraulic hammers by various end-use industries.

Sales of 3.1 to 6 tonnes hydraulic hammers have reached US$ 384.6 million in 2023. Hydraulic hammers above 6 tonnes are projected to occupy a small market share over the coming years.

Aftermarket Sales Channel Flourish Market Prospects with 5.5% CAGR

Category

CAGR through 2033

Aftermarket Sales Channel

5.5% 

The aftermarket sales channel segment of the hydraulic hammer market is anticipated to expand at a CAGR of 5.5% through 2033. The aftermarket sales channel is expected to occupy a larger market share than other channels due to its provision of cost-effective and high-quality equipment that has already been tested and used in the field.

The availability of refurbished hydraulic hammers in the aftermarket sales channel has made it a preferred choice for construction companies looking for cost-effective and reliable equipment. The appeal of used equipment lies in the cost savings it offers while still delivering dependable performance.

The range of refurbished hydraulic hammers available in excellent condition makes the aftermarket sales channel an attractive option for those with specific equipment needs. This is especially significant for those who are new to using hydraulic hammers. The combination of cost savings, high-quality equipment, and personalized service has contributed to the growing popularity of the aftermarket sales channel for hydraulic hammers.

Region-wise Analysis

Rapidly Expanding Economies and Growing Population Contribute Significantly to Shape Asia Pacific Market

Asia Pacific has a large population. As the population continues to grow, the demand for housing, commercial buildings, and public infrastructure is also increasing. Increasing government funding for infrastructure and mining projects is another key driver fueling the regional growth.

Hydraulic hammers play a critical role in construction activities such as demolition, excavation, and rock breaking, making them an essential tool for the industry. The implementation of infrastructure development policies by governments in Asia Pacific is contributing to the growing demand for hydraulic hammers. For example,

  • The 'One Belt, One Road' initiative launched by the Chinese government to improve infrastructure connectivity across Asia, Europe, and Africa is creating new opportunities for hydraulic hammer manufacturers to expand their business in the region.

Asia Pacific has vast mineral resources, and many countries are investing in mining activities to exploit these resources. Hydraulic hammers are essential in mining operations as they are used for breaking rocks and excavating minerals.

Europe to Account for 37.1% Share of the Hydraulic Hammer Market

Region

Market Share

Europe

37.1% 

Demand for hydraulic hammers in Europe is driven by several factors, including a large customer base consisting of construction, demolition, and excavation companies. This creates a competitive market that encourages innovation and product development. The construction industry in Europe is strong and growing, leading to a high demand for hydraulic hammers for demolition and excavation work.

Europe accounts for 37.1% share of the global market. Demand for hydraulic hammers in Russia is anticipated to reach US$ 297.5 million by 2033. Russia is a significant contributor to the European market, closely followed by Germany.

Competitive Landscape for the Market

Leading manufacturers of hydraulic hammers are Caterpillar, Volvo AB, John Deere, Sandvik, Atlas Copco, Soosan heavy industries, Montabert, Hyundai Everdigm, Furukawa, Astec Industries, Inc., and Stanley Infrastructure.

Key manufacturers are developing innovative hydraulic hammers to gain a competitive advantage in the industry. Hydraulic Hammers Market players are also significantly investing in expansions, acquisitions, and strategic partnerships to expand their global footprint.

Key Developments

April 2024

Epiroc, a leading provider of mining and construction equipment, marked a milestone in Croatia's quarrying sector. They have delivered the HB 10000, the country's first serial-produced 10-ton hydraulic breaker, to Beton Tomiši?, a limestone quarry. This powerhouse boasts a single impact blow energy of 16,000 joules and a rate of 380 blows per minute, optimizing efficiency and safety in bench profiling processes. Beton Tomiši? transitions from HB 7000 models and legacy Krupp breakers, highlighting the evolving needs of the industry.

March 2024

HD Hyundai addressed noise concerns in urban construction sites with their new line of silenced hydraulic breakers, the HRB Series. These breakers come in six models for excavators ranging from 1.2 to 26 tons. The HRB hammers feature silenced box housings to significantly reduce external noise levels. Urethane dampers minimize vibrations transmitted to the machine, protecting it from wear and tear and improving operator comfort. The breakers offer varying impact rates and features like auto greasing and anti-blank firing technology for increased efficiency.

October 2023

Norway's Normet, a mining equipment company, entered the rock breaking market with the launch of the Xrock range. This comprehensive product line includes hydraulic breakers, along with the acquisition of companies supplying breaker booms and excavator attachments. The Xrock series aims to fulfill various underground and surface mining applications, as well as construction needs. Normet highlights the Xrock Automation system, which combines hardware and software for exceptional performance and futureproofing their new range of rock breaking solutions.

Hydraulic Hammers Market Report Scope

Attributes

Details

Forecast Period

2024 to 2033

Historical Data Available for

2019 to 2023

Market Analysis

US$ Billion for Value

Key Regions Covered

  • North America
  • Latin America
  • Europe
  • Asia Pacific
  • South Asia
  • East Asia
  • The Middle East and Africa

Key Countries Covered

  • The United States
  • Canada
  • Germany
  • The United Kingdom
  • France
  • Italy
  • Spain
  • Russia
  • China
  • Japan
  • South Korea
  • India
  • Thailand
  • Malaysia
  • Indonesia
  • Australia
  • New Zealand
  • GCC Countries
  • South Africa  

Key Market Segments Covered

  • By Weight
  • By End-Use Industry
  • By Sales Channel
  • By Region

Key Companies Profiled

  • John Deere
  • Caterpillar
  • Astec Industries, Inc.
  • Sandvik AB
  • Soosan heavy industries
  • Stanley Hydraulics
  • Volvo AB
  • Furukawa Co., Ltd.
  • Hyundai Everdigm Corp.
  • Miller UK Limited
  • MSB Corporation Co. Ltd.
  • Montabert

Report Coverage

  • Market Forecast
  • Company Share Analysis
  • Competition Intelligence
  • DROT Analysis
  • Market Dynamics and Challenges
  • Strategic Growth Initiatives  

Customization & Pricing

Available upon request

Hydraulic Hammer Market Segmentation

By Weight

  • 2 to 3 Tonnes
  • 3.1 to 6 Tonnes
  • Above 6 Tonnes

By End-use Industry

  • Mining
  • Quarries
  • Construction
  • Others

By Sales Channel

  • OEM
  • Aftermarket

By Region

  • North America
  • Latin America
  • Europe
  • Asia Pacific
  • South Asia
  • East Asia
  • The Middle East and Africa

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Companies Covered in This Report

  • John Deere
  • Caterpillar
  • Astec Industries, Inc. (BTI)
  • Sandvik AB
  • Soosan heavy industries
  • Stanley Hydraulics
  • Volvo AB
  • Furukawa Co., Ltd.
  • Hyundai Everdigm Corp.
  • Miller UK Limited
  • MSB Corporation Co. Ltd.
  • Montabert

Frequently Asked Questions

Expansion of construction and mining industries is fueling the market growth.

A few of the key players in the market are John Deere, Caterpillar, and Astec Industries, Inc. (BTI).

3.1 to 6 tonnes type exhibits significant share in the market.

The market is expected to record a CAGR of 5.8% during the forecast period.

Collaboration and partnerships bring prominent opportunities for the market players.

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