Asphalt Pavers Global Market Report 2023

Oct 27, 2023

Major players in the asphalt pavers market are Volvo Construction Equipment Corporation, Caterpillar Inc., Weiler, Zoomlion Company Limited, Dynapac, Bomag GmbH, XCMG Construction Machinery Company Ltd.

New York, March 21, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Asphalt Pavers Global Market Report 2023" - https://www.reportlinker.com/p06433796/?utm_source=GNW , Sany Heavy Industries Limited, Ammann Group, Astec Industries Inc., Fayat Group, LeeBoy, Sumitomo Construction Machinery, Wirtgen Group, and John Deere Co.The global asphalt pavers market grew from $1.92 billion in 2022 to $2.12 billion in 2023 at a compound annual growth rate (CAGR) of 10.2%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services, causing inflation across goods and services and affecting many markets across the globe. The asphalt pavers market is expected to grow to $3.01 billion in 2027 at a CAGR of 9.2%.The asphalt pavers market consists of sales of asphalt mixing plant machine, motor grader, road roller, compactor, hydraulic controller, drive tracks, hopper, feeding conveyor, and wheel tractor-scraper.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers.The value of goods in this market includes related services sold by the creators of the goods.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.Asia-Pacific was the largest region in the asphalt pavers market in 2022. The regions covered in the asphalt pavers market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.The main types of asphalt pavers are track pavers, wheel pavers, and screeds.Track-equipped pavers are varieties of pavers that provide improved grip for difficult projects with poor underfoot conditions or the requirement to push huge transport units up steep gradients.The different paving width include less than 2.5 meters, 2.5 - 5 meters, more than 5 meters, that uses various technologies such as mechanical and hydrostatic.The increasing 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 U.S 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.Technological advancements have emerged as a key trend gaining popularity in the asphalt’s pavers market.The market has witnessed the advent of 3D paving technology, which automates autonomous operations in construction with the help of remote sensing and milling control systems technology.Major companies operating in the asphalt pavers market is focused on developing new technological solutions to strengthen their position.For instance, in February 2021, Trimble, a US-based industrial technology company, launched Trimble Roadworks 3D Paving Control Platform, the next-generation platform for 3D asphalt paving control systems.Trimble Roadworks is a highly accurate, autonomous 3D screed control technology that can improve paving production and rideability dramatically. It designs directly rather than a surface or string line to reduce asphalt usage, waste, and overruns and finish projects on time and within budget.In July 2020, Gencor Industries Inc., a US-based manufacturer of heavy machinery used in the production of highway construction materials, acquired Volvo - Blaw-Knox for an undisclosed amount. The agreement allows Gencor to manufacture and develop Volvo CE’s existing North American paver product line, which will be marketed under the Blaw-Knox brand. Blaw-Knox is a US-based company that manufactures road paving equipment.The countries covered in the asphalt pavers market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.The asphalt pavers market research report is one of a series of new reports that provides asphalt pavers market statistics, including asphalt pavers industry global market size, regional shares, competitors with an asphalt paver market share, detailed asphalt pavers market segments, market trends and opportunities, and any further data you may need to thrive in the asphalt pavers industry. This asphalt pavers market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.Read the full report: https://www.reportlinker.com/p06433796/?utm_source=GNWAbout ReportlinkerReportLinker is an award-winning market research solution. 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