Cold Milling Machine Market Size By Type (Crawler, Wheel), By Milling Width (Below 2ft, 2ft - 5ft, Above 5ft), By Application (Concrete Pavement, Asphalt Pavement), COVID-19 Impact Analysis, Regional Outlook, Application Development Potential, Price Trend

Cold Milling Machine Market Size By Type (Crawler, Wheel), By Milling Width (Below 2ft, 2ft - 5ft, Above 5ft), By Application (Concrete Pavement, Asphalt Pavement), COVID-19 Impact Analysis, Regional Outlook, Application Development Potential, Price Trend, Competitive Market Share & Forecast, 2022 - 2030

The cold milling machine market is anticipated to experience robust growth by 2030 owing to significant advancements in construction technologies. Additionally, the growing number of smart city projects across the globe is expected to drive market demand through the analysis timeframe.

Key industry players have been engaging in strategic partnerships, technological innovation, and product launches to enhance their business presence, thereby improving the overall dynamics of the cold milling machine market. For instance, in March 2022, Wirtgen Group, a road construction and maintenance machinery provider, launched its new series of compact milling machines in North America.

The line comprises three models viz., the W 120 Fi, W 130 Fi, and W 100 Fi, which are compliant with the US Tier 4 Final exhaust gas emission standards. With this product launch, Wirtgen exhibited its solutions for the complete road construction process. Notably, the firm has incorporated its F-series large milling machines into this new generation of milling machines.

Similarly, in March 2022, Bomag, a prominent equipment manufacturer, presented various pieces of milling, compaction, and paving equipment at the World of Asphalt event held in Nashville, Tennessee. The showcased products included the BW 206 AD-5 AM tandem roller, new compact BM 600/15-2 and half-lane Bomag BM 1200/35-2 mills, the CR 1030 T highway pavers, and the BF 200 C-2 cart path.

The cold milling machine market has been segmented in terms of milling width, region, application, and type.

Based on type, the market has been segmented into wheel and crawler. Between these two, the crawler cold milling machines segment held a substantial market share in 2021 and is projected to observe sturdy expansion in the upcoming time period. The ability of these machines to quickly and efficiently remove asphalt and concrete surfaces is contributing to the growth of the crawler segment.

On the basis of the milling width, the market is classified into below 2 feet, 2 feet to 5 feet, and above 5 feet. Among these, due to its cost-effectiveness and flexibility, the 2 to 5 feet segment is expected to register a steady growth rate through the study timeframe.

In the regional context, the Europe cold milling machine industry is primed to depict notable expansion through the forecast timespan. Soaring emphasis on the development of smart cities would create massive growth potential for manufacturers in Europe, which is likely to fuel regional market progress in the coming years. Meanwhile, the cold milling machine market in Latin America is expected to attain a sizable valuation by 2030 driven by rapid urbanization across emerging nations in the LATAM region.