The global asphalt pavers market size is expected to reach USD 1,410.03 million by 2027 according to a new study by Polaris Market Research. The report “Global Asphalt Pavers Market Share, Size, Trends, Industry Analysis Report, By Product Type (Tracked Pavers and Wheeled Pavers), By Screed Type (Hydrostatic, and Mechanical), By Operating Weight (5000–8000 Kgs, 8000–12000 Kgs, 12000–15000 Kgs, and Over 15000 Kgs); By Paving Width (Up to 1.5 m, 1.5–2.5 m, 2.5–5 m, and Over 5 m); By Regions; Segment Forecast, 2020–2027” gives a detailed insight into current market dynamics and provides analysis on future market growth.
China is focusing on the development of its western region. In line with this, it has announced various infrastructure projects for the Tibet region as well. India is mainly focusing on the development of its transport network by investing heavily in road and rail infrastructure. Furthermore, the country is focusing on improving power infrastructure by building thermal, nuclear, wind, and solar power stations.
Traffic has grown by 150 times over the last 50 years, while roads have increased by 9 times during the same period. The quality of roads in India is quite poor, leading to annual economic losses of US$ 4 Bn to US$ 7 Bn. The Indian construction equipment market has the potential to grow up to significantly, owing to the government's focus on infrastructure developments.
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Intelligent pavement refers to the pavement of asphalt using asphalt pavers equipped with global positioning systems (GPS) based mapping sensors and optional feedback controls. It is one of the most important progress made in roadway construction and has been widely adopted by Europe and China’s manufacturers.
In order to meet the changing need of the European market coupled with increasing demand for higher levels of operator comfort and safety. Despite their smaller dimensions, manufacturers are continuing to improve the operator's working environment by adding more comfort and safety features to their machines. For instance, Hamm’s newly launched Asphalt Pavers enhance maximum possible operators' comfort, exceptionally good visibility, and the highest possible operational safety.
Market participants such as Caterpillar, Sunroc Corporation, Astec Industry, Gencor Industries, Inc., Wirtgen group, Volvo CE, Ammann, Sumitomo, Fayat Group, Sany, Zoomlion, VT Leeboy, Shantui, and XCMG are some of the key players operating in the global market. Market players are focusing on mergers, acquisitions, technological advancements to have a competitive edge in the market. For instance, in July 2020, Gencor Industries announced a definitive agreement to acquire paver business from Blaw Knox, the Pennsylvania, U.S. based paver equipment manufacturer.
Polaris Market Research has segmented the asphalt pavers market report on the basis of product type, screed type, operating weight, paving width, and region
Asphalt Pavers Product Type Outlook (Revenue - USD Million, 2016 - 2027)
Asphalt Pavers Screed Type Outlook (Revenue - USD Million, 2016 - 2027)
Asphalt Pavers Operating Weight Outlook (Revenue - USD Million, 2016 - 2027)
Asphalt Pavers Paving Width Outlook (Revenue - USD Million, 2016 - 2027)
Asphalt Pavers Regional Outlook (Revenue - USD Million, 2016 - 2027)