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Global Asphalt Pavers Market worth US$ 210 million until the end of 2028 | Key Players are Caterpillar Inc., Fayat Group, Ammann Group, etc.

09-10-2019 09:08 AM CET | Industry, Real Estate & Construction

Press release from: Fact.MR

Global Asphalt Pavers Market worth US$ 210 million until the end

Fact.MR has published a new research report on global asphalt pavers market sizes, upcoming industry trends and growth opportunity through 2018-2028 to its online database that tries to unveil the various scenarios prevailing in the asphalt pavers market. This assessment delivers a smart compilation of primary and secondary data which provides a clear insight about the future plans expected to impact the asphalt pavers market. This study comprises of prominent data which makes it a beneficial source for investors, analysts and industry experts to acquire necessary knowledge associated to the fundamental market trends, opportunities and growth drivers.

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Tier 1 Players Hold Nearly 64% Revenue Share in the Asphalt Pavers Market

As the construction equipment industry continues to remain a consolidated landscape, the asphalt pavers market represents dominance of a handful of prominent players. With their strong regional distribution network, Tier 1 players in the asphalt pavers market hold nearly 64% of the global market share. These players including Fayat Group, Caterpillar, Astec Industry, Wirtgen Group (Vogele), Ammann, Zoomlion, Sakai and Sumitomo are leveraging global expansion, pricing strategies and investments in R&D to maintain market sustainability.

Expansion of distribution network in the emerging countries is one of the prominent strategies adopted by asphalt pavers manufacturers. For instance, Dynapac (Fayat Group) resumed its business with the Bau Power Group. The Bau Power Group will serve as the exclusive Dynapac importer partners in Australia and New Zealand.

Asphalt Pavers’ Manufacturers Leverage Predictive Maintenance Systems to Mitigate Concerns of Downtime

Construction companies involved in the heavy investments of asphalt pavers continue to remain bemused regarding the downtime of pavers as it costs a heavy million dollar. As paving forms the first line of road construction, effects of asphalt paver downtime extends to succeeding applications of rollers, trucks and mills, making the downtime extremely expensive for the company.

In a bid to effectively address the downtime issues and lower operating costs, OEMs in the asphalt pavers market are leveraging predictive maintenance systems that significantly reduce equipment downtime and repair costs. In addition, technologies used in predictive maintenance provide operator safety, reduce the training time and increase the resale value of the equipment.

Identifying these benefits, prominent manufacturers in the asphalt pavers market are implementing predictive maintenance systems in asphalt paver designs.

Caterpillar, in October 2018 announced the launch of Cat® Asset Intelligence 5.0, a new version of its predictive maintenance system which allows users to optimize repair and maintenance plans and adds fuel efficiency.
Volvo CE, in 2017 launched ActiveCare Direct (ACD), company’s new telematics and fleet management monitoring service platform.
Roadtec has also introduced Guardian Telematics that allows users to modify data in real time to efficiently prevent downtime and enhance productivity.
Screed Technology Upgrade – a Prime Milestone for Asphalt Pavers’ Manufacturers to Meet Demand for Better Asphalt Mat

In the important tasks of asphalt paving operations, screed plays a vital role in delivering better quality and optimum density of an asphalt road. Manufacturers in the asphalt pavers market are actively implementing new features in screed component that deliver better quality asphalt mat and ultimately improve the lifecycle of the pavement.

Screeds with pre-compaction are one of the highly sought-after features by end-users in asphalt pavers. An efficient pre-compaction helps in achieving greater density in asphalt mat and maximizes air void reduction through rollers. OEMs in the asphalt pavers market deliver screed components with a combination of configurations such as screed weight, paving speed and temper bar amplitude that can be adjusted according to the end user requirement.

Improving Road Infrastructure to Underpin Asphalt Pavers Market Sustainability

In a bid to achieve the goals of socioeconomic progress with an increasing emphasis on strengthening transport infrastructure, road infrastructures are improving across the globe.

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Significant investments are underway for new infrastructures and for the maintenance of existing infrastructure. For instance, World Bank, in March 2018, approved US$ 210 million for the rural connectivity project in Madhya Pradesh, India. In May 2018, World Bank approved National Road 13 Improvement and Maintenance Project in Lao PDR. Support from the World Bank and increasing public-private partnership is strengthening the connectivity between urban and rural markets through roads and highway connectivity. The essential requirement of construction equipment in such construction projects is expected to maintain the sustainability of asphalt pavers market in the future.

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FactMR is a fast-growing market research firm that offers the most comprehensive suite of syndicated and customized market research reports. We believe transformative intelligence can educate and inspire businesses to make smarter decisions. We know the limitations of the one-size-fits-all approach; that's why we publish multi-industry global, regional, and country-specific research reports.

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