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Asphalt Pavers Global Market Size, Share, Emerging Trends, Growth Drivers, Analysis, Report and Forecast 2024-2033 | The Business Research Company
Asphalt Pavers Global Market
The Business Research Company offers in-depth market insights through Asphalt Pavers Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The asphalt pavers market size has grown rapidly in recent years. It will grow from $2.16 billion in 2023 to $2.42 billion in 2024 at a compound annual growth rate (CAGR) of 11.7%. The growth in the historic period can be attributed to infrastructure development, maintenance and rehabilitation, population growth, government funding, demand for quality roads, transportation sector growth, environmental regulations.
The asphalt pavers market size is expected to see rapid growth in the next few years. It will grow to $3.65 billion in 2028 at a compound annual growth rate (CAGR) of 10.8%. The growth in the forecast period can be attributed to smart infrastructure initiatives, renewable energy projects, residential construction, rising need for sustainable solutions, upgradation of aging infrastructure. Major trends in the forecast period include electric and hybrid pavers, remote monitoring and maintenance, paver customization and versatility, smart paving technologies, integration of safety features.
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Market Segmentation:
The asphalt pavers market covered in this report is segmented -
1) By Type: Track Pavers, Wheel Pavers, Screeds
2) By Paving Width: Less than 2.5 Meters, 2.5 - 5 Meters, More Than 5 Meters
3) By Technology: Hydrostatic, Mechanical
Major Driver - Rising Road Traffic Accelerates Demand Driving Growth In The Asphalt Pavers Market Worldwide
The increase in road traffic in various parts of the world is expected to propel the asphalt pavers market going forward. Road traffic includes pedestrians, ridden or herded animals, vehicles, streetcars, and other conveyances traveling on any highway, either alone or in groups. The primary source of traffic congestion is the increased number of vehicles due to population growth and economic development. This surge in road traffic in various parts of the world underpins the need for better connectivity, which in turn is spurring demand for asphalt pavers to construct road, bridges and highways. For instance, in March 2021, according to the US Department of Transportation, travel on all highways and streets increased by 19.0% (+42.0 billion vehicle miles) in March 2021. Furthermore, according to road traffic estimates in Great Britain, in 2021, 297.6 billion vehicle miles (BVM) were driven on British roadways, an 11.9% increase over the previous year. Therefore, the increasing road traffic in various parts of the world is driving the growth of the asphalt pavers market.
Competitive Landscape:
Major companies operating in the asphalt pavers market report are Liebherr Group, Caterpillar Inc., Deere & Company, AB Volvo, Roadtec Inc., Komatsu Ltd., CNH Industrial Inc., Joseph Vögele AG, XCMG Construction Machinery Company Ltd., Sany Heavy Industries Limited, Hitachi Construction Machinery Co. Ltd., Zoomlion Company Limited, Fayat Group, Ingersoll Rand, Guangxi LiuGong Machinery Co. Ltd., New Holland Construction, Wirtgen Group, Astec Industries Inc., Bomag GmbH, Sakai Heavy Industries Ltd., Weiler Corporation, Ammann Group, VT LeeBoy Inc., Sumitomo Construction Machinery Co. Ltd., Shanghai Zenith Machinery Co. Ltd., Hamm Maschinenfabrik GmbH, ABG Maschinenfabrik GmbH, CASE Construction Equipment, HD Hyundai Infracore Co. Ltd., J.C. Bamford Excavators Limited
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Top Trend - Next-Generation Electric Paver Machines In The Asphalt Pavers Market
Major companies operating in the asphalt pavers market are focusing on next-generation solutions such as electric paver machines to achieve a competitive edge and meet sustainability demands. An electric paver machine is a mechanized device powered by electricity used for laying and surfacing roads, walkways, or pavements with precision. For instance, in October 2022, Dynapac, a US-based road construction equipment company, launched the new eCity SD1800W e, its first electric paver model. It can operate for up to four hours on a single charge, depending on the type of application, and has a paving speed of 25 meters per minute and a top travel speed of 15km an hour. The eCity SD1800W features a similar design to that of its diesel-powered counterpart and, in terms of performance, is suitable for inner-city applications, such as road assignments for bicycle lanes and repair works.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Asphalt Pavers Market Characteristics
3. Asphalt Pavers Market Trends And Strategies
4. Asphalt Pavers Market - Macro Economic Scenario
5. Asphalt Pavers Market Size And Growth
…..
27. Asphalt Pavers Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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