Reclaimer (Stabilizer) Market Size, Share, Growth, and Industry Growth, By Type (Below 400 Kw, 400-500 Kw, and Above 500 Kw), By Application (Road Construction, Public Engineering, and Others), Regional Forecast From 2023 To 2030

Updated On: 22 April 2024

RECLAIMER (STABILIZER) MARKET REPORT OVERVIEW 

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The global reclaimer (stabilizer) market size was USD 342.3 million in 2022. The global COVID-19 pandemic has been unprecedented and staggering, with reclaimer (stabilizer) experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. As per our research, the market is projected to touch USD 397 million by 2028, exhibiting a CAGR of 2.5% during the forecast period. The sudden spike in CAGR is attributable to demand returning to pre-pandemic levels once the pandemic is over.

Reclaimer equipment is a kind of earth-moving machinery used in road building projects to excavate and transport clay, debris, soil, or rock. Road surfaces are paved and compressed using equipment like compactors and pavers used in the construction of roads. The phrase also refers to machinery such as batching plants and cement mixers that are used on-site to produce materials like concrete and asphalt that are crucial for road construction.

In order to improve the qualities of plastics, such as preventing UV damage and premature withering, stabilizers are utilized in the manufacturing process. In the creation of almost all forms of polymers and plastics, including PVC, stabilizers are used (poly vinyl chloride). Low volatility and no interference with other plastic qualities are two desirable properties of a stabilizer. In order to improve the overall properties of plastic, more than one stabilizer is typically utilized during the production process.

COVID-19 Impact: Halt in Construction During the Pandemic Hampered Market Growth

The COVID-19 pandemic in 2020 resulted in market closures, lockdowns, a halt to construction, and trade restrictions, all of which had a highly detrimental impact on Road Manufacturing Equipment. Also, the market was heavily influenced by the decline in the announcement of new road projects and the labor shortage. The market is expected to rebound throughout the projected period as road construction machinery manufacturers have resumed operations due to steadily increasing road construction activity in nations with a low number of COVID-19 instances in 2021. To maintain continuity with clients in the crucial sectors of the construction equipment industry, the manufacturers are putting emergency measures in place.

LATEST TRENDS

"Expansion of Automotive Sectors to Drive Market Trends"

The auto industry is a significant source of income and jobs. As a result, the automobile sector is crucial to a nation's development. But, as more automobiles are produced, more tires are also produced, which eventually turn into garbage tires. This is a key component fueling the reclaimer (stabilizer) market expansion. Tires are also not biodegradable, making it impractical to dispose of them in landfills because doing so could increase water and land pollution. Recycling is, therefore, a desirable strategy for managing the used tire waste. Also, nations all over the world are pursuing a sustainable future by implementing various eco-friendly industrial practices, which is fueling the expansion of the market.

RECLAIMER (STABILIZER) MARKET SEGMENTATION 

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• By Type Analysis

By type, the market is segmented into below 400 KW, 400-500 KW, and above 500 KW.

• By Application Analysis

Based on application, the market is classified into road construction, public engineering, and others.

DRIVING FACTORS

"Rising Road Constructions Due to Urbanization to Augment Machinery Demand"

Road construction machinery sales are surging due to rising investments in road projects, the introduction of electric road construction equipment, and the replacement of aging fleets with newer units. Developing countries invest heavily in expansive projects like motorways and highway extensions to connect towns and villages. As a result, there will likely be a sizable demand for road construction equipment throughout the projection period. The rise in excavators, backhoe loaders, and motor graders is a sign of the road construction equipment market's gradual expansion. Road compaction equipment, particularly road rollers, are very flexible and utilized to improve the fit and finish of road projects by compressing the soil and causing growth.

"Key Companies Investing on Upgrading Technologies to Elevate Market Growth"

Building and road construction equipment manufacturers are focusing on modernizing their technologies. The improvements in technology aim to make equipment more connected, safe, and productive while lowering costs and maintenance problems. For example, Komatsu, a Japanese manufacturer of construction equipment, debuted hydraulic excavators 1 with the KomVision Human Detection and Collision Mitigation System in March 2020. The excavators are created by improving the 'KomVision' bird-view camera technology installed on traditional Japanese market versions.

RESTRAINING FACTORS

"High Initial Cost to Hinder Market Growth"

The initial cost of these equipment is high, which is expected to impede the reclaimer (stabilizer) market growth in the forecast period. 

RECLAIMER (STABILIZER) MARKET REGIONAL INSIGHTS 

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"Asia Pacific to Dominate Market Due to the Growing Construction Industry"

Asia Pacific is estimated to hold about 42% of the reclaimer (stabilizer) market share due to the region being the largest contributor in the construction sector. Emerging countries in the region lead to higher construction activities, which will augment the regional growth.

Europe is projected to hold about 22% of the market share due to the major presence of construction companies in the region.

KEY INDUSTRY PLAYERS

"Key Companies to Emphasis On the Development of Advanced Technology"

Key market players are investing heavily on research and development of the product. Companies are also paying focus on launching advanced products. Emphasis on gaining collaborations, mergers, and acquisitions is increasing among leading players. The major market players are striving to maintain partnerships with other key players in the same industry. Gaining partnerships with other companies will develop a strong consumer base in the global market. The key competitors are adopting organic and inorganic growth strategies to surge their market share in the global market. 

List of Market Players Profiled

• WIRTGEN (Germany)
• Bomag (Germany)
• Caterpillar (U.S.)
• SAKAI HEAVY INDUSTRIES, LTD. (Japan)
• XCMG (China)
• DEGONG (China)

REPORT COVERAGE

The market research study offers thorough information on numerous market aspects. The growth drivers, restraints, geographical analysis, competitive environment, and challenges are a few of them. Additionally, it provides an analytical analysis of market trends and projections for various factors to show potential investment areas. From 2022 through 2028, the market is objectively assessed to determine its financial viability. The report's data was compiled using a variety of primary and secondary sources.