Cold Milling Machine Market Performance Metrics for Industry Stakeholders and Investors

The global cold milling machine market size is anticipated to reach USD 3,566.5 million by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 6.1% over the forecast period. The market growth is attributed to the increasing adoption of cold milling machines for road construction and maintenance activities. For instance, the National Highways Authority of India reports that the annual construction of 4, 6, and 8-lane national highways has surged by more than 300% between 2016 and 2022.

The rising technological advancements coupled with a growing number of smart city initiatives around the world are predicted to drive market demand of cold milling machines during the forecast period. For instance, Wirtgen Group, a producer of road construction and maintenance machinery, launched its new series of small milling machines in March 2022. Wirtgen has a large selection of cold milling machines in the industry, with milling widths ranging from 14 mm to 4.4 m. Furthermore, the new solutions are based on real-world experience and key expertise in leveling, control, and cutting technology, thereby driving market expansion.

Asphalt rehabilitation is quickly becoming a necessity in India, given the volumes of screened, crushed, shaped, and sized aggregates required for the country's upcoming road and infrastructure projects. As a result, it would be important to preserve and recycle the existing aggregates from earlier pavements in order to increase aggregate availability and, as a result, contribute to cost reduction in practically all road upgradation plans on national, state, and city highways and roads.

Gather more insights about the market drivers, restrains and growth of the Global Cold Milling Machine Market

Cold milling machines are required for the efficient granulation and removal of road surfaces. These are used to efficiently eliminate concrete and asphalt surfaces. In addition, they establish a level foundation of the requisite breadth and depth for paving fresh surface layers of uniform thickness. The cold milling machine increases the material's workability and produces reclaimed asphalt pavement for later recycling operations. These aforementioned factors are projected to drive demand for cold milling machines in the coming years.

Increased infrastructure expenditure is likely to fuel demand for cold milling machines in the next years. For instance, a USD 1 trillion investment, a bipartisan plan introduced by U.S. Congress that spent billions of dollars to repair physical infrastructure such as roads and bridges, trains, airports, and water systems, is predicted to boost the market growth. Moreover, the Wirtgen W 150 CF compact milling machine boosts infrastructure project productivity. It can mill a full section of road in a single pass, which helps to increase job site productivity.

Key companies are strategizing to increase revenue generation, with a focus on RD, mergers acquisitions, product launches, expansion of production capacities, and geographic expansion. For instance, in February 2023, Sany Bharat manufactures more than 50 construction equipment machines such as SCM2000C-8S Track Cold Miller at its factory in India.

Cold Milling Machine Market Report Highlights

The crawler track segment accounted for 71.1% of the global revenue share in 2022. The growing number of road construction projects is fuelling market demand. Furthermore, product updates with digitalization, automation, and additional features in equipment are propelling the industry forward. Doosan, for instance, released the DX1000LC-7 100-tonne crawler excavator in October 2022. The DX1000LC-7 features the maximum hydraulic flow for a machine of this size, resulting in increased productivity, lower fuel consumption, and smoother controls.

The concrete rehabilitation application segment is expected to witness a CAGR of 6.4% over the forecast period. Cold milling devices can remove asphalt and concrete pavements at a low cost. The applications range from comprehensive asphalt and concrete removal to layer-by-layer removal and leveling of asphalt and concrete surfaces. WIRTGEN cold milling machines can manufacture working widths ranging from 1 ft 2 in to 14 ft 5.

Cold milling machine is the initial step in the rehabilitation of a pavement or traffic area. The milling surface condition has a significant impact on the quality of the surface areas, their service qualities, and the efficient execution of the other construction measures. These aforementioned causes are projected to enhance cold milling machine demand.

Asia Pacific region is expected to witness a CAGR of 6.7% over the forecast period. Increased government spending on new road construction projects will have a substantial impact on the industry. Furthermore, technical advancements in construction machines will boost market expansion. To boost their performance, businesses are incorporating telematics, 3D modeling, and other cutting-edge technologies.

Caterpillar introduced a new series of cold planers in 2021. Cat PM620, PM622, PM820, PM822, and PM825 product improvements emphasize ease of operation and lower ownership and running expenses.

List of Key Players in the Cold Milling Machine Market