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Asphalt Mixing Plants Market 2019 – 2024 | Growth Analysis by Regional Players: Nikko Company Limited, ASTEC, AMMANN Group, Benninghoven
Asphalt Mixing Plants Market
Most of the automakers are expanding their regional presence across Asia Pacific, pertaining to the growing consumer base. The governments of various Asian countries such as India, China, Japan, Malaysia, and Thailand are investing a huge amount of capital to improve road infrastructure. As per estimates, in 2016, Asia Pacific asphalt mixing plants industry accounted for a revenue of USD 2.5 billion.
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The escalating growth of the construction and infrastructure sectors is one of prominent factors stimulating asphalt mixing plants market, given that asphalt is one of key raw materials used in road construction. Strictly speaking, around 70% of overall asphalt production is consumed for road developments. Taking into consideration, the large-scale use of asphalt for road construction, industry giants are utilizing innovative technologies to reduce labor cost, machine wear, and fuel consumption.
Asphalt mixing plants market by product:
o Portable
o Stationary
Asphalt mixing plants market by application:
o Road construction
o Others
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Increasing spending capabilities are likely to fuel the requirement for passenger and personal cars, leading to an increased rate of traffic, which will demand the existence of strong roads, thereby propelling asphalt mixing plants market. In the light of the exponentially rising automobile demand, the governments of various countries are investing heavily in developing highways, which will further boost market share over the years ahead.
Considering that asphalts possess greater benefits such as durability, flexibility to accommodate imperfections, and surface hardness as opposed to concrete, an increasing demand for the former has been observed since the last few years as compared to the latter, which will augment asphalt mixing plants industry share. Also asphalt based roads possess a unique capability to withstand heavy vehicles. Besides, automakers are developing high end luxurious vehicles, owing to the changing consumer lifestyle and growing modernization across the globe.
Recently, China-based asphalt mixing plants market giant, D&G technology, announced that it was glad to state that the company is likely to procure profits from the surging number of road construction projects in China as well as other countries. Apparently, as compared to the last year, the company witnessed a 53% hike in the profit up to 30th June 2017. Pertaining to the deployment of national environmental protection policies by the Chinese government, the demand for recycling asphalt mixing plants has considerably increased.
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