“Global Asphalt Pavers Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2028” is a recent report generated by MarketResearch.biz. The global asphalt pavers market report has been segmented on the basis of technology, product type, and region.
Global Asphalt Pavers Market: Overview
An asphalt paver is a construction equipment used to shape, distribute, and partially compact a layer of asphalt on bridges, roads, parking lots, and other such places.
Global Asphalt Pavers Market: Dynamics
The global asphalt pavers market is expected to register a significant growth rate, owing to factors such as heavy expenditure on the road maintenance, along with increasing infrastructural projects. Increasing construction activities and improvement of roads in urban as well as rural areas are some of the factors expected to propel growth of the target market during the forecast period. High amount of spending to extend road networks, increasing public-private partnership, and increasing emphasis on strengthening transport infrastructure are expected to support demand for growth of the global market. In May 2018, for instance, World Bank approved US$128 Mn for Lao National Road 13 Improvement and Maintenance Project.
The latest trend observed in the market is manufacturers are focusing to introduce modern pavement technologies and using cost-effective materials for paving highways and bridges. Another trend observed in the market is reuse and renting road machinery and asphalt pavers, which is projected to create lucrative revenue opportunities for players operating in the target market.
Global Asphalt Pavers Market: Segment Analysis
Among the technology segments, the hydrostatic segment is projected to register significant growth rate over the forecast period.
Among the product type segment, the tracked pavers expected to account for major revenue share, and is projected to maintain its dominance over the forecast period.
Global Asphalt Pavers Market: Region Analysis
The market in Asia Pacific accounts for major revenue share, and is projected to maintain its dominance over the forecast period, owing to growth in construction activities, along with development & maintenance of roads to reduce the number of accidents. In addition, rising infrastructure development activities and renovation projects in the region are some of the other factors, anticipated to fuel growth of the target market. Moreover, the growth in automobiles and freight movement are expected to increase demand for better road network in emerging countries such as India and China. According to the document released by Government of India Planning Commission, the government of India is focusing on increasing the length of national highways to 200,000 km by approving Road Requirement Plan (RRP), while the Chinese government is also planning to connect roads in rural and remote areas.
The North America asphalt pavers market is estimated to grow at significant market share over the forecast period, owing to rising construction of such structures as shopping malls, office buildings etc., coupled with high investments for road network in countries such as US and Canada. Middle East & Africa asphalt pavers market is expected to grow at a moderate growth rate, owing to urbanization, increasing spending power, and increasing government expenditures on infrastructure development in developing countries such as Brazil and South Africa.
Global Asphalt Pavers Market Segmentation:
Segmentation by Technology:
Segmentation by Product Type:
- Wheeled Asphalt Paver
- Tracked Asphalt Paver
Segmentation by Region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Attribute Report Details Market Size Ask For Market Size Growth Rate Ask For Growth Rate Key Companies Ask For Companies Report Coverage Revenue analysis, Competitive landscape, Key company analysis, Market Trends, Key segments, Distribution Channel, Market Dynamics, COVID-19 Impact Analysis and more… Historical Data Period 2015-2020 Base Year 2022 Forecast Period 2022-2031 Region Scope North America, Europe, Asia-Pacific, South America, Middle East & Africa Country Scope United States, Canada and Mexico, Germany, France, UK, Russia and Italy, China, Japan, Korea, India and Southeast Asia, Brazil, Argentina, Colombia etc.Saudi Arabia, UAE, Egypt, Nigeria and South Africa Revenue in US$ Mn
- Volvo CE
- Caterpillar Inc.
- Zoomlion Company Limited
- Bomag GmbH
- XCMG Construction Machinery Company Ltd
- Sany Heavy Industries Limited
- JOSEPH VÖGELE AG
- Wirtgen Group
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