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Asphalt Mixing Plants Market Report 2024-2033: Size, Share, Growth, Trends, Analysis, Demand, Key Players
Asphalt Mixing Plants Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.
The Market Size Is Expected To Reach $7.52 billion In 2028 At A CAGR Of 2.6%.
The asphalt mixing plants market size has grown steadily in recent years. It will grow from $6.6 billion in 2023 to $6.79 billion in 2024 at a compound annual growth rate (CAGR) of 2.8%. The growth in the historic period can be attributed to infrastructure development, urbanization trends, environmental regulations, global economic conditions.
The asphalt mixing plants market size is expected to see steady growth in the next few years. It will grow to $7.52 billion in 2028 at a compound annual growth rate (CAGR) of 2.6%. The growth in the forecast period can be attributed to smart infrastructure, circular economy initiatives, e-mobility trends, global connectivity, resilience and disaster preparedness. Major trends in the forecast period include digital twin technology, technological advancements, material innovation, customization and flexibility, collaborative supply chains.
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Asphalt Mixing Plants Market Major Segments
The asphalt mixing plants market covered in this report is segmented -
1) By Product: Batch Mix, Drum Mix, Continuous Mix
2) By Process: Batch, Continuous
3) By Capacity: Below 50T/H, 50-150T/H, 151-300T/H, Above 300T/H
4) By Application: Road Construction, Parking Lots, Pedestrian Paths, Bridge
Key Driver - Infrastructure Investment Surge Fuels Robust Growth In Asphalt Mixing Plants Market
The rise in infrastructure investments is expected to propel the growth of the asphalt mixing plants market going forward. Infrastructure investment refers to the distribution of financial resources for constructing, upkeep, and enhancing physical buildings and structures that support social and economic well-being. Asphalt mixing paints in infrastructure development are used in constructing and maintaining roads, highways, airports, and other transportation networks. For instance, in May 2023, according to a report by The Office for National Statistics, a UK-based government department, infrastructure construction for new work had a total value of $37.96 billion in 2021. Much of this increase was because of roads and railways, which comprised 61.1% of all new work and experienced rises of 93.4% and 88.7%, respectively, in 2021. Therefore, the rise in infrastructure investments is driving the growth of the asphalt mixing plants market.
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Prominent Trend - Innovative Solutions Transforming The Asphalt Mixing Plants Market
Product innovations are a key trend gaining popularity in the asphalt mixing plants market. Major companies operating in the asphalt mixing plants market are innovating new products to sustain their position in the market. For instance, in February 2021, Wirtgen Group, a Germany-based machinery industry company, launched KMA 240, a new mobile cold mixing plant for sustainable recycling. It can process 240t of mix made from various building materials each hour in an eco-friendly manner. It is significantly assisting in guaranteeing that recycled building materials are incorporated back into the process of building roads as a high-quality mix. The cold recycling mixing plant has its engine unit installed on a flatbed semitrailer.
Asphalt Mixing Plants Market Players
Major companies operating in the asphalt mixing plants market report are Zoomlion Heavy Industry Science & Technology Co. Ltd., Marini s.p.a, Sany Heavy Industry Co. Ltd., Tere*x Corporation, Astec Industries Inc., Aimix Group Co. Ltd., GP Gunter Papenburg AG, Ammann Group Holding AG, Nikko Company Limited, The Benninghoven GmbH & Co. KG, Gencor Industries Inc., Speed Crafts Limited, Speco Limited., Atlas Technologies Pvt. Ltd,Kaushik Engineering Works, Fujian Tietio Machinery Co. Ltd, Capious Roadtech Pvt Ltd., Atlas industries, ADM Asphalt Drum Mixers Inc., Parker Plant Ltd., Stepp Manufacturing Co. Inc., Lintec & Linnhoff Holdings Pte Ltd, Stansteel and Hotmix Parts & Service , Kredmash Ltd, Solmec Earthmovers Pvt. Ltd., NFLG Inc, ALmix Asia, Fabhind Private Limited, D&G Machinery, DMI Asphalt Equipment LLC.
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Largest And Fastest Growing Region In The Market
North America was the largest region in the asphalt mixing plants market in 2023. It is expected to be the fastest-growing region in the forecast period. The regions covered in the asphalt mixing plants market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Asphalt Mixing Plants Market Report Structure
3. Asphalt Mixing Plants Market Trends And Strategies
4. Asphalt Mixing Plants Market - Macro Economic Scenario
5. Asphalt Mixing Plants Market Size And Growth
…..
27. Asphalt Mixing Plants Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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