Asphalt Pavers Industry Size, Share, Segments and Forecast 2026
According to the report, published by Fortune Business Insights, titled “Asphalt Pavers Market Size, Share & Industry Analysis, By Type (Track pavers, Wheel pavers & Screeds), By Pavement Width (Less than 2.5 Meters, 2.5 – 5 Meters & More than 5 Meters), and Regional Forecast, 2019-2026” the market size stood at USD 1.98 billion in 2018. The report provides an exceptional summary of the asphalt pavers market trends. It draws attention to the recent developments witnessed in the market and provides statistical data for the same along with market drivers and market restraints. Acquisitions and mergers commenced by key players in the market are thoroughly explained. Besides this, it also offers superior insights into the prevailing trends of the market.
For more information in the analysis of this report, visit https://www.fortunebusinessinsights.com/industry-reports/asphalt-pavers-market-101706
The global asphalt pavers market size is expected to reach USD 2.77 billion by 2026, exhibiting a CAGR of 4.4% during the forecast period. One of the key reasons boosting the growth of the market is the development in roads and infrastructure. According to the Virginia Asphalt Association, Recycled Asphalt Pavement (RAP) has been used widely for more than 30 years and for the tenth year in a row RAP is the most recycled product in America. Furthermore, every year nearly 100 million tons of RAP is recycled back into new asphalt pavement in the U.S. All the asphalt binder and aggregate are recycled back into the mix as asphalt binder and aggregate.
- By Type
• Track pavers
• Wheel pavers
- By Pavement Width
• Less than 2.5 Meters
• 5 – 5 Meters
• More than 5 Meters
- By Region
• North America (U.S. and Canada)
• Europe (U.K., Germany, France, Italy, and Rest of Europe)
• Asia Pacific (China, Japan, India, Southeast Asia, and Rest of Asia Pacific)
• Middle East & Africa (GCC, South Africa, and Rest of Middle East & Africa)
• Latin America (Brazil, Mexico, and Rest of Latin America)
Increasing Infrastructure Initiatives to Accelerate Growth
Increasing investment by the public as well as the private sector for the development of infrastructure in the emerging economies will bolster the growth of the market in the foreseeable future. The robust growth in the automobile industry will result in the upliftment of the asphalt pavers market shares during the forecast period. The increasing initiatives of local and state governments towards the construction of better roads will further enable the growth of the market. The ongoing development in design and production of machines by manufacturers to cater to the demand will further promote growth. Furthermore, the producers are establishing innovative pavement materials including Stone Matrix Asphalt (SMA), Open Graded Friction Course (OGFC), and Superpave to improve surroundings for workforces at the pavement site hence resulting in improved efficiency. These factors and trends together are boosting the market growth.
Prompting Infrastructural Development to Boost Growth in North America
North America is projected to show a significant growth owing to its presence of key players in the region. Asia Pacific generated a revenue of USD 0.42 billion in 2018 and is expected to dominate the market during the forecast period owing to the rapid development in countries such as India and China. Moreover, in Europe established and advanced infrastructural development will result in sales opportunities for the market.
Some of the Prominent Companies in the Global Asphalt Pavers Market are:
• AB Volvo
• Fayat Group
• Astec Industry
• XCMG Construction Machinery Company
• AMMANN GROUP
• AUNG HEIN MIN CO., LTD.
• SANY GROUP
• Deere & Company