The global asphalt paver market study presents an all in all compilation of the historical, current and future outlook of the market as well as the factors responsible for such a growth. With SWOT analysis, the business study highlights the strengths, weaknesses, opportunities and threats of each asphalt paver market player in a comprehensive way. Further, the asphalt paver market report emphasizes the adoption pattern of the asphalt paver across various industries.
The asphalt paver market report highlights the following players:
- Astec Industry
- XCMG Construction Machinery Co. Ltd.
- Zoomlion Heavy Machinery Co Ltd.
- Sumitomo IHI Construction Machinery Co Ltd.
The asphalt paver market report examines the operating pattern of each player – new product launches, partnerships, and acquisitions – has been examined in detail.
The asphalt paver market report offers a plethora of insights which include:
- Changing consumption pattern among individuals globally.
- Historical and future progress of the global asphalt paver market.
- Region-wise and country-wise segmentation of the asphalt paver market to understand the revenue, and growth lookout in these areas.
- Accurate Year-on-Year growth of the global asphalt paver market.
- Important trends, including proprietary technologies, ecological conservation, and globalization affecting the global asphalt paver market.
The global market for asphalt pavers is anticipated to grow at a value CAGR of 3.7%, during the forecast period, to reach a market size of ~USD 1.6 Bn by the end of 2029 from an estimated USD ~1.1 Bn in 2019, according to a new Fact.MR study. Rising developments in road infrastructure across the world would fuel the demand for asphalt pavers. Despites its ensuing complexities for suppliers and manufacturers, the expansion of more efficient and durable machines is considered to be a boon for the growth of the asphalt paver market.
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Development in Road Infrastructure to Boost the Demand for Asphalt Pavers
Transportation infrastructure plays an important role in the development of economies as it primarily controls the export and import sector of every market. Global transformation of the infrastructure industry is changing the appearance of developed as well as developing countries. In developing countries, big infrastructure projects are in progress, notably for the construction of railways, roads, ports and bridges, to strengthen the transportation backbone. Wide range of construction projects such as road construction, airport and runways, streets & highways and many other projects that cannot be built without proper paving is leading to the demand for paving equipment & asphalt pavers.
Asphalt pavers are used to lay asphalt on bridges, roads, highways, and other such places. It lays asphalt flat and provides compaction before it is compacted by a roller. Availability of different types of asphalt pavers enables construction work to progress smoothly on roads and highways of developed as well as developing countries. Hence the development in road infrastructure is likely to raise the demand for asphalt pavers, notably in developing countries.