Global Asphalt Pavers Market Size study & Forecast, by Type (Tracked Pavers, Wheeled Pavers, and Screeds), by Paving Range (less than 1.5 m, 1.5 m to 2.3 m, 2.4 m to 2.55 m, and above 2.55m), and Regional Analysis, 2022-2029

Global Asphalt Pavers Market Size study & Forecast, by Type (Tracked Pavers, Wheeled Pavers, and Screeds), by Paving Range (less than 1.5 m, 1.5 m to 2.3 m, 2.4 m to 2.55 m, and above 2.55m), and Regional Analysis, 2022-2029

The global Asphalt Pavers Market is valued at approximately USD 2.38 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 5 % over the forecast period 2022-2029. The asphalt paver is machinery that is utilized for road pavements. These machines have their unique roles to play and thus mark their existence in the construction of large areas of pavement. An asphalt paver is a self-propelled laydown machine having two main assemblies i.e., Tractor and screed used to spread hot mix asphalt. The Asphalt Pavers market is expanding because of factors such as the rising Smart Cities initiatives & growing government spending toward high-quality roads.

In June 2021, in comparison to its execution of 1,681 km in June 2020, the Ministry of Road Transport and Highways has built approximately 2,284 km of national highways. This justifies the government’s massive development to improve India’s mobility network. Furthermore, the government now intends to build approximately 65,000 km of national highways at a cost of Rs. 5.35 lakh crore by the end of FY 2022. Also, in April 2021, under geopolitical considerations, the Chinese government planned to expand its reach in Bangladesh through the Belt and Road Initiative. Beijing has proposed an RMB 7.26 million road development project for this project to enter Bangladeshi roadways. Whereas rising highway construction and favorable initiatives by market players create lucrative opportunities for the market. However, heavy machinery cost hampers the market growth throughout the forecast period of 2022-2029.

The key regions considered for the Global Asphalt Pavers Market study include Asia Pacific, North America, Europe, Latin America, and the Rest of the World. Asia Pacific dominated the market in terms of revenue, owing to the increasing government initiatives and spendings towards smart cities, and the growing requirement for road connectivity from cities to towns. Also, Asia Pacific is expected to grow with the highest growth rate during the forecast period, owing to factors such as increasing investment by various nations across the region in high quality road construction

Major market players included in this report are:
Volvo Construction Equipment
Caterpillar Inc
Fayat Group
Ammann Group
Astec Industry
XCMG Construction Machinery Co. Ltd.
Zoomlion Heavy Machinery Co Ltd
Leeboy Inc.
Sumitomo IHI Construction Machinery Co. Ltd.

Recent Developments in the Market:
 In January 2022, Royal BAM, a Dutch civil engineering company, unveiled a fully electric asphalt spreading road paver that emits less than 115,000 grammes of nitrous oxide and 93,000 kg of carbon dioxide when compared to bio-diesel variants.
 In November 2021, XCMG Road Machinery launched Sky Mirror HD+ under its new global brand. Under its product line, the company offered high-end products designed for high-grade asphalt pavement applications, which included asphalt plants, graders, milling machines, pavers, and road rollers.

Global Asphalt Pavers Market Report Scope:
Historical Data 2019-2020-2021
Base Year for Estimation 2021
Forecast period 2022-2029
Report Coverage Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered Type, Paving Range, Region
Regional Scope North America; Europe; Asia Pacific; Latin America; Rest of the World
Customization Scope Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters to detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with a detailed analysis of the competitive landscape and product offerings of key players. The detailed segments and sub-segments of the market are explained below:

By Type:
Tracked Pavers
Wheeled Pavers
Screeds

By Paving Range:
Less than 1.5 m
1.5 m to 2.3 m
2.4 m to 2.55 m
Above 2.55 m

By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
ROLA
Rest of the World

Companies Mentioned

Volvo Construction Equipment
Caterpillar Inc
Fayat Group
Ammann Group
Astec Industry
XCMG Construction Machinery Co. Ltd.
Zoomlion Heavy Machinery Co Ltd
Leeboy Inc.
Sumitomo IHI Construction Machinery Co. Ltd.


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