This Asphalt Pavers market study offers a comprehensive analysis of the business models, key strategies, and respective market shares of some of the most prominent players in this landscape. Along with an in-depth commentary on the key influencing factors, market statistics in terms of revenues, segment-wise data, region-wise data, and country-wise data are offered in the full study. This study is one of the most comprehensive documentation that captures all the facets of the evolving Asphalt Pavers market.
Unpaved roads account for more than 40% of the roads globally. These unpaved roads can deteriorate quickly due to traffic, weather changes and bad habit of driving leading to accidents in most of the cases. The need to have paved roads is considered as a priority for growing infrastructure development globally and has driven the demand to produce more asphalt pavers. An asphalt paver is a construction equipment machinery generally used to place asphalt on roads, parking lots, bridges and other such places. It surfaces the asphalt flat and provides minor compaction before it is further compacted by heavy road rollers. It is usually termed as an asphalt paving machine. Some asphalt pavers are dragged by the dump truck laying the asphalt, but most of these are now self-propelled machines. Rising infrastructural and road development initiatives in emerging economies to develop smart cities serves a major driving factor which accelerates the growth of asphalt pavers market globally. Based on projections of demand by infrastructure segment globally, investment in road development and maintenance account to 25% of overall revenue share fuelling the demand for asphalt pavers globally.
Global Asphalt Pavers Market: Drivers & Restraints
With growth in industrial and infrastructural sector in the fast pace economies globally, there has been heavy expenditure on the road maintenance and infrastructural projects, creating demand for asphalt pavers globally. According to Energy Technology Perspectives (ETP) it is estimated that the world will need to add nearly 25 million paved road lane kilometres as only up to 60 % of roads are paved globally. The enhancement and establishment of modern roads and development in emerging economies such as India and China are major growth drivers of global asphalt pavers market. Understanding the importance of road maintenance globally is proving to be very effective to reduce the number of accidents, ultimately driving global asphalt pavers market during the forecast period. Reuse and rental market for road machinery and asphalt pavers are trends prevailing in the global asphalt pavers market which also is a restraint for new equipment sales for major players and manufacturers existing in this market. Increasing demand from road traffic will require continuous construction and improvement of roads, in both urban and rural areas and is likely to fuel the global asphalt pavers market by the end of 2025.
Global Asphalt Pavers Market: Region-wise Outlook
In terms of geography, the global asphalt pavers market has been divided in to seven key regions including North America, Latin America, Eastern Europe, Western Europe, Asia-Pacific excluding Japan, Middle East & Africa and Japan. Asia-Pacific holds the largest market share in terms of revenue and is expected to grow at a high CAGR over the forecast period. With rise in demand for road maintenance initiatives especially in emerging economies of India, China and Japan is expected to fuel the demand of global asphalt pavers market by the end of 2025. Asia-Pacific followed by Western Europe and Latin America are others regional pockets which are anticipated to grow at a steady CAGR with increasing activities for road safety development.
Global Asphalt Pavers Market: Key Players
Global asphalt pavers market is dominated by large number of regional and global players which include Volvo CE, Caterpillar Inc., Weiler, Zoomlion Company Limited, Dynapac, Bomag GmbH, XCMG Construction Machinery Company Ltd and Sany Heavy Industries Limited. However, European players have a considerable market share in global asphalt pavers market and are highly competitive in terms of pricing and quality where in Chinese manufacturers with their low prices offer high growth to the China asphalt pavers market.
The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geographies, product type and technology.
The report covers exhaust analysis on:
- Market Segments
- Market Dynamics
- Market Size
- Supply & Demand
- Current Trends/Issues/Challenges
- Competition & Companies involved
- Value Chain
Regional analysis includes
- North America (U.S., Canada)
- Latin America (Mexico. Brazil)
- Western Europe (Germany, Italy, France, U.K, Spain)
- Eastern Europe (Poland, Russia)
- Asia Pacific (China, India, ASEAN, Australia & New Zealand)
- Middle East and Africa (GCC, S. Africa, N. Africa)
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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Global Asphalt Pavers Market: Segmentation
On the basis of technology, the global asphalt pavers market is segmented into
On the basis of product type,the global asphalt pavers market is segmented into
- Wheeled Asphalt Pavers
- Tracked Asphalt Pavers
On the basis of working width, the global asphalt pavers market is segmented into
- < 1.5 m
- 1.5 m - 2.3 m
- > 2.3 m
- Detailed overview of parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint
Frequently Asked Questions
What research methodology is used to develop the Asphalt Pavers Market report?
- FMI utilizes three branched methods to derive market measurements used to compile any report study (data derivation, triangulation and validation).
- These approaches include accumulating data from both primary and secondary sources
- Primary research involves interviews with industry operators and FMI's network of contacts spanning the world's value chain of the Asphalt Pavers Market. This is supported by a comprehensive literature analysis of information gathered through secondary sources
- Analysis of several middle market stakeholders for country-wise data
What else does FMI offer apart from Asphalt Pavers Market report?
In addition to up-to-date market figures and customized of the Asphalt Pavers Market, FMI offer consulting services to help businesses within industry navigate challenges and take well-informed decisions amidst the breakneck competition.
How do you define competitors based on market structure? What aspects about a competitor are included in the company profile section?
- Most of the competitors are segregated according to their market share in 'Tier' wise statures.
- Global market participants are scrutinized and global competition metrics are included with numerous competitor profiles referring to their business background and go-to market strategies.