Global Asphalt Pavers Market Size By Type (Track Pavers, Wheel Pavers), By Pavement Width (Less than 2.5 Meters, 2.5 – 5 Meters), By Geographic Scope And Forecast

Asphalt Pavers Market Size And Forecast

Asphalt Pavers Market size was valued at USD 1.975 Billion in 2021 and is projected to reach USD 2.55 Billion by 2030, growing at a CAGR of 3.85% from 2022 to 2030.

Infrastructure development, as well as an increase in the number of paved roads, development of road networks in emerging economies, strong government push and investment through public-private partnerships, and rising demand for energy-efficient construction equipment, are the major factors driving the market growth. The Global Asphalt Pavers Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.

Global Asphalt Pavers Market Definition

Asphalt is a dynamic component of global transportation infrastructure that drives economic progress and social well-being in both established and emerging nations. Asphalt pavers are equipment that spread and apply asphalt on surfaces like bridges and roadways. Asphalt finishers is the name given to this equipment. This industry constructs asphalt roads, motorways, Airport runways, streets, driveways, canal linings, parking lots, coastal protection, bike lanes and walkways, and a variety of other structures.

Pavement materials are the most reused, recyclable, and adaptable paving materials, making them a preferred way of pavement. This is explained by the fact that asphalt is used to pave 94% of the roads built in the United States. Asphalt’s adaptability has resulted in greater use in various areas, including as airports. Asphalt runways offer increased comfort during takeoffs and landings, as well as reduced runway maintenance time and a considerably speedier construction phase.

Global Asphalt Pavers Market Overview

Increased public and private sector expenditures on infrastructure development in emerging nations are driving the expansion of the Asphalt Pavers Market. Furthermore, expansion in the vehicle sector is expected to promote growth, thus the government is spending more on on-road and highway infrastructure construction. Rapid highway expansion, rural road network expansion and a rising number of mega highway projects throughout the world are the important factors driving the growth of the asphalt paver industry. Growing urbanization and increased road traffic would need the continued building and renovation of roads, highways, and urban areas, influencing the Asphalt Pavers Market growth.

Furthermore, an increase in government investment in infrastructure projects is likely to boost demand for the Asphalt Pavers Market. This desire is aimed toward advancements in both asphalt manufacturing and asphalt laying. To meet these needs, manufacturers are focused on novel advances in machine design and manufacturing. In addition, companies are developing novel pavement materials such as Stone Matrix Asphalt (SMA), Open Graded Friction Course (OGFC), and Superpave. All of this results in better working conditions for workers at the paving site, which leads to increased efficiency.

Because of the aforementioned causes, demand for asphalt finishers is likely to have a positive impact on market growth. However, the high cost of machinery is projected to stymie market sales. Asphalt pavers are sophisticated machinery that is solely used in the building of roads and paths. Most construction businesses choose not to invest in new equipment since it is rarely utilized. Manufacturers rent out pre-owned and new asphalt pavers to construction industry participants. These leasing services are gaining popularity throughout the world, discouraging expenditures on new equipment. This is projected to restrict market expansion throughout the forecast period.

Global Asphalt Pavers MarketSegmentation Analysis

The Global Asphalt Pavers Market is segmented on the basis of Type, Pavement Width, And Geography.

Asphalt Pavers Market, By Type

• Track Pavers• Wheel Pavers• Screed Pavers

Think about pavers, right? We're talking Track Pavers, Wheel Pavers, and Screed Pavers, all carving up the market. Seems like Wheel Pavers are gonna be big, because they're like the Swiss Army knife of road repair - fixing up old roads, doing deep repairs, and even managing slopes. Since they can do so much, they're expected to really boost the whole market. But hold on, Screed Pavers might just be the fastest growing! These guys sort the asphalt and make it super dense, which makes everything stick together better. That's why you're seeing them pop up all over the place, from Airport runways to bridge decks.

Asphalt Pavers Market, By Pavement Width

• Less than 2.5 Meters• 2.5 – 5 Meters• More than 5 Meters

The market's divided by pavement width into three categoriesLess than 2.5 Meters, 2.5 – 5 Meters, and More than 5 Meters. You'll often see asphalt finishers with a pavement width of 2.5 – 5 Meters because they're so versatile – they work for lots of different jobs and road sizes, offering great flexibility when spreading asphalt. In fact, they're the most common type! This is because they're perfect for areas where the size doesn't change a lot and because most roads use similar widths. Yep, asphalt finishers with a pavement width of 2.5 – 5 Meters are widely used for all sorts of tasks and road widths, thanks to the flexible asphalt spreading they provide. Plus, you see them everywhere because they work well in areas with consistent sizing and are suited for the majority of road widths.

Global Asphalt Pavers Market, By Geography

• North America• Europe• Asia Pacific• Rest of the world

Okay, so when we look at where Asphalt Pavers are being used around the world, we generally break it down by Geographythat's North America, Europe, Asia Pacific, and then, well, the rest of the world! Asia Pacific is really where things are happening, and we think that's going to continue for a while. You've got China, a big player, really pushing infrastructure development. Plus, a lot of companies there are making cheaper machines, which is definitely helping sales. Now, North America? They'll probably see some growth, but it'll be more moderate. They were early adopters, so the market's already pretty established. And with a bit of growth in cars, especially in more rural areas, that should help the market along too.

Key Players

The “Global Asphalt Pavers Market” study report will provide valuable insight with an emphasis on the global market. The major players in the market are AB Volvo, Fayat Group, Caterpillar, Astec Industry, XCMG Construction Machinery Company, AMMANN Group, Zoomlion, Aung Hein Min CO., Ltd., Sany Group, Deere & Company.

Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide an insight into the financial statements of all the major players, along with its product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players globally.

Key Developments

• In January 2020, Volvo CE introduced 8-Foot Asphalt Pavers in North America, with high productivity, innovative engine technology, and convenient service features that make laying a high-quality mat simple for the operator. The Volvo engines are incredibly quiet and have a low vibration level of roughly 79.2 weighted decibels (dBa).

• In May 2020, Trimble Road Works introduced the 2-D paving control platform for Asphalt Pavers, an autonomous screed control system that may enhance accuracy and efficiency in asphalt paving applications. The primary goal is to enable paving contractors to reduce wastage of expensive asphalt material, get ideal rideability outcomes, and complete their projects on schedule and under budget.

• In July 2019, Wirtgen Group was purchased by Deere & Company. This acquisition will expand Deere’s previously established portfolio’s construction equipment offering.

• In February 2019, Dynapac of the Fayat Group expanded its commercial paver line with the new FC1700C, FC1300 II, and FC1400 II. These pavers have been certified in accordance with the EPA Tier 4 Final approved emissions criteria.

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Reasons to Purchase this Report

We dig into the market using both numbers and less tangible stuff, like what people actually want, by breaking it down into different groups based on economic and other factors. We'll give you the market size in USD Billion for each slice of the market. We'll also point out which region and segment we think will blow up the fastest and become the biggest. Think of it as a geographic breakdown, where we look at how much of the product/service each region uses and what's influencing the market there. We'll map out the competitive scene, ranking the big names and highlighting their new products, partnerships, expansions, and acquisitions from the last five years. We offer detailed company profiles, with an overview, insights, product comparisons, and even a SWOT analysis for the major players. You'll get a look at the current and future state of the market, what's driving growth, the opportunities, and the challenges in both new and established regions. We use Porter's five forces to give you a deep dive from all angles. Plus, we'll walk you through the Value Chain. Get ready for a look at market dynamics, growth opportunities on the horizon, and 6 months of analyst support after you buy!

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