냉간 밀링 머신 시장 : 예측(-2032년) - 유형별, 동력원별, 정격 출력별, 가공 폭별, 표면 유형별, 기술별, 용도별, 최종사용자별, 지역별 분석

According to Stratistics MRC, the Global Cold Milling Machine Market is accounted for $2.49 billion in 2025 and is expected to reach $3.84 billion by 2032 growing at a CAGR of 6.4% during the forecast period. A Cold Milling Machine is specialized equipment designed to remove damaged asphalt or concrete layers from road surfaces. It functions through a rotating drum embedded with sharp cutters that accurately grind away pavement sections. This technique produces an even surface ideal for resurfacing or structural repairs. As a vital component of road restoration, cold milling maintains proper road gradients and drainage efficiency. Today's models feature advanced automation and precision systems that enhance milling quality, lower energy use, and reduce environmental harm. These innovations make cold milling machines indispensable in modern road construction and maintenance operations, ensuring durability and smooth performance.

According to the European Asphalt Pavement Association (EAPA), cold milling is considered a best practice for asphalt recycling. Their technical brief on Asphalt in Figures highlights that over 90% of reclaimed asphalt in Europe is reused, often enabled by cold milling machines that allow precise layer separation.

Market Dynamics:

Driver:

Growing road construction and rehabilitation projects

The global expansion of road construction and renovation activities significantly drives the cold milling machine market. Governments and private sectors are prioritizing infrastructure upgrades to strengthen transportation systems and boost economic growth. As road surfaces deteriorate from heavy vehicle loads and harsh climates, the need for timely maintenance and resurfacing increases. Cold milling machines enable fast and precise removal of worn-out pavements, ensuring smooth preparation for new layers. Ongoing infrastructure investments and modernization projects worldwide continue to accelerate the demand for these machines, making them essential tools in achieving durable, safe, and sustainable road networks across developing and developed nations alike.

Restraint:

High initial investment and maintenance costs

The substantial upfront cost of acquiring cold milling machines poses a major challenge to market growth. These machines incorporate advanced technology and precision components, making them expensive to buy and maintain. Frequent maintenance, replacement of worn parts, and skilled labor requirements further raise operating costs. Smaller construction firms, especially in developing countries, struggle to invest in such costly machinery. Additionally, price volatility of materials and repair parts adds to financial pressure. The combination of high capital and maintenance expenditures discourages widespread adoption, limiting accessibility for contractors with limited budgets and slowing the overall expansion of the cold milling machine market globally.

Opportunity:

Adoption of automation and digital technologies

The rise of automation and digitalization is unlocking new opportunities in the cold milling machine industry. Modern equipment now incorporates advanced GPS systems, telematics, and automated control technologies to enhance accuracy and productivity. Real-time data collection and predictive analytics enable efficient maintenance planning and operational monitoring, minimizing failures and expenses. These technologies also improve safety and streamline construction workflows. As the construction sector moves toward digital transformation under Industry 4.0, demand for intelligent, connected cold milling machines is increasing rapidly. Manufacturers investing in smart systems and autonomous functionality stand to gain a competitive edge in this evolving, technology-driven market landscape.

Threat:

Intense market competition and price pressure

High market rivalry poses a major threat to the cold milling machine industry. With many global and regional brands competing, constant product launches and innovation have intensified price wars. To stay competitive, manufacturers are often forced to reduce prices, resulting in lower profit margins, especially for smaller companies. Escalating raw material and production costs further strain profitability. Moreover, ongoing technological upgrades demand heavy R&D investment, which not all firms can afford. Those unable to innovate quickly or offer cost-effective models risk being outperformed by competitors. This heightened competition, coupled with financial pressure, threatens the stability and long-term growth of several market participants.

Covid-19 Impact:

The outbreak of COVID-19 severely affected the cold milling machine market, primarily through halted construction operations and disrupted global supply chains. Restrictions on movement, workforce shortages, and logistical challenges caused major delays in manufacturing and project execution. Many infrastructure initiatives were postponed as government budgets were redirected toward healthcare and economic relief. Consequently, equipment demand dropped sharply during the lockdown period. Nonetheless, the market started rebounding once restrictions eased, driven by recovery-focused infrastructure spending. The pandemic also highlighted the need for automation, remote monitoring, and digital solutions, leading to increased adoption of technologically advanced and energy-efficient cold milling machines worldwide.

The highway construction segment is expected to be the largest during the forecast period

The highway construction segment is expected to account for the largest market share during the forecast period due to the increasing demand for durable and well-maintained road networks. Highways experience heavy traffic loads and constant wear, making resurfacing and rehabilitation essential for safety and efficiency. Cold milling machines are widely used in highway projects to remove damaged pavement layers quickly and accurately, ensuring smooth surfaces for new asphalt application. Governments across the world are investing heavily in highway expansion and modernization to support economic growth and connectivity. The need for long-lasting, high-performance roads continues to drive the extensive use of cold milling equipment in this segment.

The private construction contractors segment is expected to have the highest CAGR during the forecast period

Over the forecast period, the private construction contractors segment is predicted to witness the highest growth rate. Rising private investment and collaboration through public-private partnerships have expanded their role in infrastructure and road improvement projects. These contractors emphasize productivity, precision and quick project delivery, leading to higher adoption of modern milling technologies. Their readiness to invest in efficient, automated equipment gives them a competitive edge over public agencies. With continuous urban development and real estate expansion worldwide, private firms are increasingly driving demand for advanced cold milling machines, contributing significantly to the market's rapid growth and technological transformation in the coming years.

Region with largest share:

During the forecast period, the Asia Pacific region is expected to hold the largest market share. This leadership stems from accelerated urban growth, large-scale infrastructure developments, and significant governmental funding in road construction and upkeep in nations such as China, India, and Japan. The region's escalating demand is further propelled by smart city projects and the integration of cutting-edge construction technologies. Additionally, manufacturing centers in China and South Korea bolster production capabilities and technological advancements, reinforcing Asia Pacific's dominant role in the cold milling machine sector.

Region with highest CAGR:

Over the forecast period, the North America region is anticipated to exhibit the highest CAGR. This surge is largely attributed to significant investments in infrastructure projects, especially in road construction and upkeep. For instance, the U.S. government's Infrastructure Investment and Jobs Act allocated over USD 350 billion for highway modernization over five years, driving the demand for cold milling machines. Moreover, the region's emphasis on integrating advanced technologies and automation in construction activities further accelerates market growth. Collectively, these elements establish North America as the region with the highest projected CAGR in the global cold milling machine market.

Key players in the market

Some of the key players in Cold Milling Machine Market include SANY, Caterpillar Inc., XCMG Group, Dynapac, Liugong Machinery Co., Ltd., Deere & Company (Wirtgen Group), Astec Industries, Inc. (Roadtec), Fayat Group (Bomag GmbH), Komatsu Ltd., Volvo Construction Equipment, Takeuchi Mfg. Co., Ltd., Ammann Group, Doosan Infracore Co., Ltd., Bitelli and Wirtgen America Inc.

Key Developments:

In August 2025, Caterpillar Inc. and Hunt Energy Company, L.P. announced a long-term strategic collaboration agreement focused on delivering highly efficient, independent energy production. With customer success at the core of every project, this collaboration will ensure reliability and performance is delivered to meet the demanding "always-on" needs for data centers.

In June 2025, SANY Marine and APM Terminals have signed a Master Framework Agreement for the future supply of battery-electric terminal tractors to APM Terminals, marking a significant step in the company's decarbonisation strategy. Under the agreement, about 500 diesel-powered terminal tractors across APM Terminals' global network will be replaced with battery-electric models by 2030.

In June 2025, XCMG and BHP signed a new framework agreement at XCMG's HQ in Xuzhou, opening a new era of strategic cooperation in the field of green and smart mines based on the highly compatible concepts of technological innovation and sustainable development. According to the framework agreement, the two sides will deepen cooperation in multiple dimensions such as joint equipment research and development, full life cycle management, and localised service system construction.

Types Covered:

• Crawler Track
• Wheeled

Power Sources Covered:

• Diesel-Powered
• Electric-Powered

Power Ratings Covered:

• Below 300 kW
• 300-500 kW
• Above 500 kW

Operating Widths Covered:

• Narrow (<1 meter)
• Medium (1-2 meters)
• Wide (>2 meters)

Surface Types Covered:

• Asphalt Milling
• Concrete Milling

Technologies Covered:

• Traditional Milling
• GPS-Guided Systems
• Automated & AI-Integrated Machines

Applications Covered:

• Highway Construction
• Road Rehabilitation
• Airport Runway Milling
• Parking Lot Milling
• Industrial Floor Milling

End Users Covered:

• Government Infrastructure Agencies
• Municipal Road Departments
• Private Construction Contractors
• Real Estate & Commercial Developers
• Mining & Industrial Operators

Regions Covered:

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • Italy
  • France
  • Spain
  • Rest of Europe
• Asia Pacific
  • Japan
  • China
  • India
  • Australia
  • New Zealand
  • South Korea
  • Rest of Asia Pacific
• South America
  • Argentina
  • Brazil
  • Chile
  • Rest of South America
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • Qatar
  • South Africa
  • Rest of Middle East & Africa

What our report offers:

• Market share assessments for the regional and country-level segments
• Strategic recommendations for the new entrants
• Covers Market data for the years 2024, 2025, 2026, 2028, and 2032
• Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
• Strategic recommendations in key business segments based on the market estimations
• Competitive landscaping mapping the key common trends
• Company profiling with detailed strategies, financials, and recent developments
• Supply chain trends mapping the latest technological advancements

Free Customization Offerings:

All the customers of this report will be entitled to receive one of the following free customization options:

• Company Profiling
  • Comprehensive profiling of additional market players (up to 3)
  • SWOT Analysis of key players (up to 3)
• Regional Segmentation
  • Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
  • Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances

Table of Contents

1 Executive Summary

2 Preface

• 2.1 Abstract
• 2.2 Stake Holders
• 2.3 Research Scope
• 2.4 Research Methodology
  • 2.4.1 Data Mining
  • 2.4.2 Data Analysis
  • 2.4.3 Data Validation
  • 2.4.4 Research Approach
• 2.5 Research Sources
  • 2.5.1 Primary Research Sources
  • 2.5.2 Secondary Research Sources
  • 2.5.3 Assumptions

3 Market Trend Analysis

• 3.1 Introduction
• 3.2 Drivers
• 3.3 Restraints
• 3.4 Opportunities
• 3.5 Threats
• 3.6 Technology Analysis
• 3.7 Application Analysis
• 3.8 End User Analysis
• 3.9 Emerging Markets
• 3.10 Impact of Covid-19

4 Porters Five Force Analysis

• 4.1 Bargaining power of suppliers
• 4.2 Bargaining power of buyers
• 4.3 Threat of substitutes
• 4.4 Threat of new entrants
• 4.5 Competitive rivalry

5 Global Cold Milling Machine Market, By Type

• 5.1 Introduction
• 5.2 Crawler Track
• 5.3 Wheeled

6 Global Cold Milling Machine Market, By Power Source

• 6.1 Introduction
• 6.2 Diesel-Powered
• 6.3 Electric-Powered

7 Global Cold Milling Machine Market, By Power Rating

• 7.1 Introduction
• 7.2 Below 300 kW
• 7.3 300-500 kW
• 7.4 Above 500 kW

8 Global Cold Milling Machine Market, By Operating Width

• 8.1 Introduction
• 8.2 Narrow (<1 meter)
• 8.3 Medium (1-2 meters)
• 8.4 Wide (>2 meters)

9 Global Cold Milling Machine Market, By Surface Type

• 9.1 Introduction
• 9.2 Asphalt Milling
• 9.3 Concrete Milling

10 Global Cold Milling Machine Market, By Technology

• 10.1 Introduction
• 10.2 Traditional Milling
• 10.3 GPS-Guided Systems
• 10.4 Automated & AI-Integrated Machines

11 Global Cold Milling Machine Market, By Application

• 11.1 Introduction
• 11.2 Highway Construction
• 11.3 Road Rehabilitation
• 11.4 Airport Runway Milling
• 11.5 Parking Lot Milling
• 11.6 Industrial Floor Milling

12 Global Cold Milling Machine Market, By End User

• 12.1 Introduction
• 12.2 Government Infrastructure Agencies
• 12.3 Municipal Road Departments
• 12.4 Private Construction Contractors
• 12.5 Real Estate & Commercial Developers
• 12.6 Mining & Industrial Operators

13 Global Cold Milling Machine Market, By Geography

• 13.1 Introduction
• 13.2 North America
  • 13.2.1 US
  • 13.2.2 Canada
  • 13.2.3 Mexico
• 13.3 Europe
  • 13.3.1 Germany
  • 13.3.2 UK
  • 13.3.3 Italy
  • 13.3.4 France
  • 13.3.5 Spain
  • 13.3.6 Rest of Europe
• 13.4 Asia Pacific
  • 13.4.1 Japan
  • 13.4.2 China
  • 13.4.3 India
  • 13.4.4 Australia
  • 13.4.5 New Zealand
  • 13.4.6 South Korea
  • 13.4.7 Rest of Asia Pacific
• 13.5 South America
  • 13.5.1 Argentina
  • 13.5.2 Brazil
  • 13.5.3 Chile
  • 13.5.4 Rest of South America
• 13.6 Middle East & Africa
  • 13.6.1 Saudi Arabia
  • 13.6.2 UAE
  • 13.6.3 Qatar
  • 13.6.4 South Africa
  • 13.6.5 Rest of Middle East & Africa

14 Key Developments

• 14.1 Agreements, Partnerships, Collaborations and Joint Ventures
• 14.2 Acquisitions & Mergers
• 14.3 New Product Launch
• 14.4 Expansions
• 14.5 Other Key Strategies

15 Company Profiling

• 15.1 SANY
• 15.2 Caterpillar Inc.
• 15.3 XCMG Group
• 15.4 Dynapac
• 15.5 Liugong Machinery Co., Ltd.
• 15.6 Deere & Company (Wirtgen Group)
• 15.7 Astec Industries, Inc. (Roadtec)
• 15.8 Fayat Group (Bomag GmbH)
• 15.9 Komatsu Ltd.
• 15.10 Volvo Construction Equipment
• 15.11 Takeuchi Mfg. Co., Ltd.
• 15.12 Ammann Group
• 15.13 Doosan Infracore Co., Ltd.
• 15.14 Bitelli
• 15.15 Wirtgen America Inc.