Overview and Scope
An asphalt paver is a machine that distributes, shapes, and partially compacts an asphalt layer over the surface of a roadway. It distributes partially compacted asphalt over flat surfaces on the construction sites. These are the machines responsible for constructing roads, parking lots, bridges, and other similar places.
Sizing and 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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Segmentation & Regional Insights
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
Asia-Pacific was the largest region in the asphalt pavers market in 2023. The regions covered in the asphalt pavers market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
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.
Key Industry Players
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
The asphalt pavers market report table of contents includes:
1. Executive Summary
2. Asphalt Pavers Market Characteristics
3. Asphalt Pavers Market Trends And Strategies
4. Asphalt Pavers Market - Macro Economic Scenario
5. Global Asphalt Pavers Market Size and Growth
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31. Asphalt Pavers Market Other Major And Innovative Companies
32. Global Asphalt Pavers Market Competitive Benchmarking
33. Global Asphalt Pavers Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Asphalt Pavers Market
35. Asphalt Pavers Market Future Outlook and Potential Analysis
36.Appendix
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Asphalt Pavers Market report published by Value Market Research, which studies the future outlook of the market.
It includes the size, share, growth, trends, key players, segments and regional analysis in detail during the study year 2020-2027.The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide.
The major players in the asphalt pavers market include Volvo CE, Caterpillar Inc., Weiler, Zoomlion Company Limited, Dynapac, Bomag GmbH, XCMG Construction Machinery Company Ltd, Sany Heavy Industries Limited, JOSEPH VÖGELE AG, Carlson and Wirtgen Group.
This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.Get more information on ""Global Asphalt Pavers Market Research Report"" by requesting FREE Sample Copy at https://www.valuemarketresearch.com/contact/asphalt-pavers-market/download-sampleMarket DynamicsThe market is mainly driven by heavy investment in road maintenance along with rising infrastructural projects.
In addition, expanding construction activities and improvement of roads in urban and rural areas are some of the factors anticipated to fuel the growth of the market over the forecast period.
Another growth-inducing factor, including growing urbanization, consistently increasing road traffic, will require continuous construction and improvement of roads, highways in ruler, and an urban area that also influences the market growth.The research report covers Porter’s Five Forces Model, Market Attractiveness Analysis, and Value Chain analysis.
Global Asphalt Pavers Market: Overview The latest Adroit Market Research study titled “Global Asphalt Pavers Market Outlook 2018-2025”, is a comprehensive analysis of the industry, reflecting a holistic market performance of major segments.The global asphalt paver market size is estimated to reach up to USD 2.0 billion by 2025 owing to the demand for technologically advance infrastructure in emerging countries.
Few asphalt paver machines are dragged by dump truck arranging the asphalt, most of the machines are self-propelled.The study covers the global asphalt pavers market value for a period ranging between 2015 to 2025, where 2015 to 2017 imply the actual annual revenue with forecast between 2018 and 2025.
The global asphalt pavers market report also includes qualitative insights of the market such as drivers, restrains, value chain, regulatory framework and trade statistics.
The value chain of the global asphalt pavers market has been analyzed in detail covering key stages in the channel.Request for sample copy of Asphalt Pavers Market report at: https://www.adroitmarketresearch.com/contacts/request-sample/731The global asphalt pavers industry has primarily been driven by demand from the rapidly expanding industrial and infrastructural sectors in the emerging economies globally.
This sustained demand is expected to continue during the forecast period between 2018 and 2025 thereby propelling global asphalt pavers market size.Increasing flow of road traffic over the highways will always be a contributing factor for witnessing a high growth in the asphalt pavers market.
The medium sized and large sized asphalt pavers being less cost efficient have multi-fold benefits as it covers large stack of areas and is used mostly on the highway road construction as compared to the small sized asphalt pavers.Read more details of the report at: https://www.adroitmarketresearch.com/industry-reports/asphalt-pavers-marketGlobal Asphalt Pavers Market Share, By Application, 2017 (%)On the basis of application, the highway segment dominated the global asphalt paver market due to increased need for proper pavement of roads with heavy traffic.
