Cold Milling Machine Market Share

Global Cold Milling Machine Market Overview

The Cold Milling Machine Market Size was valued at USD 1.59 billion in 2023. The Cold Milling Machine Industry is expected to witness significant growth during the forecast period from 2024 to 2032. It is projected to increase from USD 1.69 billion in 2024 to USD 2.53 billion by 2032, with a compound annual growth rate (CAGR) of 5.23%. The Cold Milling Machine market is experiencing growth due to the expanding infrastructure development in the road construction industry. The increasing demand for road construction projects is the market driver.

Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

Cold Milling Machine Market Trends

• The rising demand for crawler cold milling machines is driving market growth.

Crawler cold milling machines dominated the market, accounting for over 80% of the market share. The demand for these machines is projected to rise significantly until 2030, mainly due to their advanced and powerful engines. Crawler cold milling machines are known for swiftly and effectively removing asphalt and concrete surfaces. They deliver exceptional milling performance across various working conditions. Their efficiency and productivity make them a preferred choice in the industry. This factor drives the market CAGR.

Additionally, rapid urbanization is a major factor contributing to the growth of the cold milling machine market. Governments' increased investment in road construction projects, driven by their desire to boost economic development, is another key factor driving market growth. The expanding infrastructure development in roadway construction also positively impacts the cold milling machine market. Additionally, the market's growth is fueled by the rise in commercial construction projects, as investors show interest in investing in the construction sector for road development. Thus, driving the Cold Milling Machine market revenue.

Cold Milling Machine Market Segment Insights

Cold Milling Machine Type Insights

The Cold Milling Machine market segmentation, based on type, includes wheel type & crawler. The dominance of the crawler segment in the market is driven by its superior advantages, including improved maneuverability, high milling performance across different working conditions, and efficient removal of asphalt and concrete surfaces. The crawler-type machines are equipped with advanced features and powerful engines, contributing to their superior performance and making them the preferred choice for many construction and road maintenance projects.

Cold Milling Machine Application Insights

Based on the Application, the Cold Milling Machine market segmentation includes concrete pavement & asphalt pavement. The asphalt pavement segment dominated the market; This is because asphalt pavement is widely used in various construction projects, such as roadways, highways, and parking lots. Cold milling machines are crucial in maintaining and rehabilitating asphalt pavement by removing deteriorated or damaged layers and preparing the surface for resurfacing. The high demand for asphalt pavement in infrastructure development and the need for efficient and cost-effective pavement maintenance drive the dominance of this segment in the cold milling machine market.

Figure1: Cold Milling Machine Market, by Application, 2022 & 2032 (USD billion)                          

Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

Cold Milling Machine Regional Insights

By Region, the study provides market insights into North America, Europe, Asia-Pacific, and Rest of the World. North America is expected to dominate the cold milling machine market due to its technological advancements, and the widespread adoption of new technologies drives the market's growth in the Region.

Further, the major countries studied in the market report are The U.S., Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure2: COLD MILLING MACHINE MARKET SHARE BY REGION 2022 (%)                                   

Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

Europe's cold milling machine market holds a significant market share driven by the Region's demand for road construction and road reconstruction projects. Further, the German Cold Milling Machine market held the largest market share, and the UK Cold Milling Machine market was the fastest-growing market in the European Region.

The Asia-Pacific Cold Milling Machine Market is expected to grow fastest from 2023 to 2032. This Region's growth can be attributed to technological advancements and increased public-private partnerships for various infrastructure projects. Moreover, China’s Cold Milling Machine market held the largest market share, and the Indian Cold Milling Machine market was the fastest-growing market in the Asia-Pacific region.

Cold Milling Machine Key Market Players & Competitive Insights

Leading market players are investing heavily in research and development to expand their product lines, which will help the cold milling machine market grow even more. Market participants are also undertaking various strategic activities to expand their footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. The Cold Milling Machine industry must offer cost-effective items to expand and survive in a more competitive and rising market climate.

Manufacturing locally to minimize operational costs is one of the key business tactics manufacturers use in the  Cold Milling Machine industry to benefit clients and increase the market sector. In recent years, the Cold Milling Machine industry has offered some of the most significant advantages to medicine. Major players in the Cold Milling Machine market, includingJohn Deere (US), CMI Roadbuilding Limited (UK), Wirtgen Group (Germany), Caterpillar (US), XCMG (China), Astec Industries (US), Bomag (Germany), Dynapac (Sweden) Huatong Kinetics (China), and LiuGong (China)., and others, are attempting to increase market demand by investing in research and development operations.

Baker Industries, a subsidiary of Lincoln Electric Company, is a renowned provider of advanced manufacturing and engineering services to leading OEM and Tier-1 companies in highly demanding industries. As part of their operations, Baker Industries recently acquired and installed the EcoMill 5-axis milling machine from the EMCO Group. This state-of-the-art machine is being utilized to produce large-scale frames, lay-up tools, and other components.

Wirtgen Group, a renowned German company in the construction industry, specializes in developing and manufacturing machinery for road construction and maintenance. The company is a key player with a  workforce of approximately 8,500 employees and an annual turnover of around €3 billion. Wirtgen Group will be present at Bauma 2022 to showcase its upgraded F-series milling machine. This compact and fuel-efficient machine, integrated into various models, offers a wide working speed range of 1,200 to 2,100 rpm, demonstrating its efficiency and sustainability.

Key Companies in the Cold Milling Machine Market include

• Xugong Group construction machinery


• John deere


• Caterpillar inc


• Astec industries inc


• SANY Group


• Bomag GmbH


• CMI road-building limited


• Sakai heavy industries limited

Cold Milling Machine Industry Developments

April 2022: Wirtgen Group has announced its participation in Bauma 2022, where it will showcase its redesigned F-series milling machine. This compact milling machine offers a wide working speed range of 1,200 to 2,100 pm and is integrated into models such as W100 Fi, W120 Fi, and W130 Fi. It also boasts fuel efficiency, consuming less fuel than traditional milling machines.

May 2017: Baker Industries installed an EcoMill 5-axis milling machine manufactured by the EMCO group. The company installed it to produce large-scale frames, lay-up tools, etc.

Cold Milling Machine Market Segmentation

Cold Milling Machine Type Outlook

• Wheel Type


• Crawler

Cold Milling Machine Application Outlook

• Concrete Pavement


• Asphalt Pavement

Cold Milling Machine Regional Outlook

• North America
  
  
  
  • US
  
  
  • Canada
  
  
  
  


• Europe
  
  
  
  • Germany
  
  
  • France
  
  
  • UK
  
  
  • Italy
  
  
  • Spain
  
  
  • Rest of Europe
  
  
  
  


• Asia-Pacific
  
  
  
  • China
  
  
  • Japan
  
  
  • India
  
  
  • Australia
  
  
  • South Korea
  
  
  • Australia
  
  
  • Rest of Asia-Pacific
  
  
  
  


• Rest of the World
  
  
  
  • Middle East
  
  
  • Africa
  
  
  • Latin America