The report "Soil Stabilization Market by Method (Mechanical and Chemical), Application (Industrial, Non-agricultural, and Agricultural), Additive (Polymer and Mineral & Stabilizing Agents), and Region (APAC, North America, Europe) - Global Forecast to 2022"The global soil stabilization market is estimated at USD 22.09 Billion in 2017, and is projected to reach USD 27.80 Billion by 2022, at a CAGR of 4.70% during the forecast period. The market is driven by factors such as improved quality and properties of soil stabilization materials and urbanization. The use of different soil stabilization additives in the optimum quantities provides numerous benefits to the soil. Rapid urbanization, particularly in the developing regions, is driving the growth of the construction industry, thereby fueling the soil stabilization market growth.

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The key players in the soil stabilization market include Caterpillar (US), AB VOLVO (Sweden), FAYAT (France), WIRTGEN GROUP (Germany), CARMEUSE (US), Global Road Technology (Australia), Soilworks (US), Graymont (Canada), SNF Holding (US), Aggrebind (US), IRRIDAN USA (US), and Altacrete (Canada). These key players focused on various business strategies such as the new product launches, agreements, partnerships, and expansions, to increase their market presence. Caterpillar and AB VOLVO are the top two companies in the soil stabilization market based on overall revenues, product offerings, and strategic activities related to the soil stabilization.

Caterpillar manufactures and sells construction, mining, and soil stabilization equipment, diesel & natural gas engines, industrial gas turbines & diesel-electric locomotives, and financial products & insurance, globally. The company operates through five segments, namely, construction industries, resource industries, power systems, financial products, and others. The construction industries segment provides soil stabilization machines such as pavers, back hoe loaders, road reclaimers, and compactors. These machines are used for the construction of roads, buildings, and runways. Apart from this, the company focused on new product launches as a strategy; in November 2016, the company announced a new machine line of Cold Planers—PM620 and PM622. These highly maneuverable half-lane milling machines perform controlled full-depth removal of asphalt and concrete pavements in a single pass.

AB Volvo manufactures wheeled and crawler excavators (diggers), articulated haulers (dumpers and dump trucks), scraper haulers, wheel loaders, pipe layers, demolition equipment, waste handlers, motor graders, pavers, compactors, milling equipment, tack distributors, road wideners, material transfer vehicles, mini loaders, mini excavators, backhoe loaders, and skid steer loaders. The company develops, manufactures, and markets equipment for construction, soil stabilization, and related industries under the brands—Volvo and SDLG. Volvo CE—which is a part of the Volvo Group, a leading manufacturer of trucks, buses, construction equipment, and marine & industrial engines. The company offers soil stabilization machines under its product segment, which includes asphalt pavers, articulated haulers, and compactors. Additionally, AB VOLVO consistently develops and introduces advanced soil stabilization in the market, which has significantly contributed to the success of this company in this market. For instance, in December 2017, AB VOLVO launched new asphalt compactors to serve the growing road industry in India, which will help the company to expand the compactors segment.

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The South American market is projected to grow at the highest CAGR during the forecast period. The countries covered under the region include Brazil and Argentina. Rising demand for infrastructural development and increasing income levels in emerging economies such as Brazil and Argentina are the key factors that drive the growth of the soil stabilization market. The development and growth of various agricultural sectors drive the demand for soil stabilization in the region.