"Catapult Your Business to Fore, Gain Competitive Advantage "
The global asphalt pavers market size stood at USD 1.98 billion in 2018 and is projected to reach USD 2.77 billion by 2026, exhibiting a CAGR of 4.4% during the forecast period.
Asphalt plays a dynamic role in global transportation infrastructure driving the economic growth along with the social well-being in developed and developing economies. Asphalt pavers are the machines which are used to distribute and lay asphalt on surfaces such as bridges and roads. These machines are called as asphalt finishers. This industry builds asphalt highways, motorways, airport runways, streets, driveways, canal linings, parking areas, coastal protection, cycle paths and footpaths and many other areas. The materials used for pavement are the most reused, recycled & versatile pavement material making it a preferable method of pavement. This can be understood by the fact that ~94% of the roads build in U.S. are paved by asphalts.
Request a Free sample to learn more about this report.
This versatility of asphalt has resulted in increased use in other applications such as at the airports. Asphalt runways provide additional comfort during takeoffs and landings, along with reduction in runway maintenance time and much faster construction phase.
“Increasing Investments in Infrastructure Sector will Propel Growth”
Increasing investments done by public as well as private sector in development of infrastructure in the emerging economies is boosting the growth of the asphalt finishers market. Besides, development in automobile industry is anticipated to stimulate the growth, due to which government is focusing more on infrastructural development of roads and highways. This demand is directed towards innovations in both the manufacturing and laying of the asphalt.
To cater these demands the manufacturers are focusing on innovative developments in design and production of machines. Along with that, the producers are establishing innovative pavement materials including Stone Matrix Asphalt (SMA), Open Graded Friction Course (OGFC), and Superpave. All these resulting in improved surroundings for workforces at the pavement site hence resulting in improved efficiency. Owing to all the above factors the demand for the asphalt finishers is expected to have constructive effect on the growth of the market.
“The Wheel Pavers is Likely to Generate Significant Revenue Share Due to its Multiple Applications”
The type segment in the scope of the study includes track pavers, wheel pavers & screeds asphalt pavers.
The wheel pavers is expected to have a major market share as these pavers they are used to repair existing road conditions, for full-depth or variable-depth repairs and for grade and slope control. The growth of these types of pavers is also expected to boost the market as these are not limited to one application.
Screeds type of pavers are expected to exhibit maximum CAGR during the forecast period. Screeds deliver sorting of asphalt along with the density thus resulting in the better interlocking of materials. This has augmented the use of pavers in airport runways, private roads, and taxiways, bridge decks etc.
Track pavers are expected to witness a moderate growth during the forecast period due to its restricted applications. These pavers consist of either crawlers or rubber tires. Crawlers are used at places where there is the need for more traction on the surface so as to produce a better layout of the asphalt. And on the other hand rubber tires are used in already paved paths, which requires less traction and control on the ground.
“2.5 – 5 Meter Pavement Width is Expected to have Prominent Market Growth During the Forecast Period”
The pavement width segment covered in this report includes less than 2.5 Meters, 2.5 – 5 Meters & more than 5 Meters.
2.5 – 5 meter pavement width type of asphalt finishers are mostly used for multiple purposes and sizes of the roads as they provide flexibility in spreading the area of asphalt. Moreover, this is the most common type of asphalt pavers as they can be used at places where the sizes of the area do not vary a lot and mostly these widths are used in maximum number of roads.
To know how our report can help streamline your business, Speak to Analyst
Less than 2.5 meters pavers are expected to exhibit steady growth due to its use case at the parking lots, parks, rural areas among others. Furthermore, more than 5 meters is expected to show moderate growth during the forecast period. This is because of the increasing use of concretes for paving high width roads and also emerging economies use concrete roads for the same purpose.
The scope of the report comprises of five major regions namely North America, Europe, Asia Pacific, The Middle East & Africa and Latin America.
Asia Pacific generated a revenue of USD 0.42 billion in 2018 and is anticipated to emerge as the dominant region in the Asphalt pavers market during the forecast period. China is among the major country in the region as it supports infrastructure development at the provincial levels. Manufactures also produce low cost of the machines which in return results in higher sales.
Asia Pacific Asphalt Pavers Market Size, 2018 (USD Billion)
To get more information on the regional analysis of this market, Request a Free sample
North America is projected to show a moderate growth owing to its early adoption of the machines, hence the market is already mature. Additionally, the moderate growth in the automotive sector in rural areas is expected to hold the market growth. Moreover, Europe as a whole is established and advanced regarding infrastructural development due to which it is expected to show a modest growth rate. This is evident from the quality of roads even at the rural regions, resulting in a limited scope of opportunity for the asphalt finishers market.
The Middle East & Africa and Latin America are expected to post a steady growth during the forecast period. The growth is owed to the initiatives taken by the government to increase infrastructural quality along with increasing investments from the public as well private sector for infrastructural development.
“Prominent Players in the Market are Focussing on Offering New Models to Deliver Increased Performance and Capabilities”
The leading players such as Fayat Group, Caterpillar, Astec Industry, and AMMANN GROUP have a dominant position acquiring ~60% of the overall segment. These manufacturers are focusing on setting up their plants in emerging and developing economies in order to maintain their market share. These economies are proving to be cost-effective and high output regions for the companies, as they have an abundance of resources coupled with government initiations to boosts the manufacturing sector.
To gain extensive insights into the market, Request for Customization
The research report offers an in-depth analysis of the market. It further provides details on the adoption of asphalt pavers across five major regions. Information on trends, drivers, opportunities, threats, and restraints of the market can further help stakeholders to gain valuable insights into the market. The report offers a detailed competitive landscape by presenting information on key players, along with their strategies, in the market.
Value (USD billion)
By Pavement Width
Fortune Business Insights says that the Asphalt pavers market was valued at USD 1.98 billion in 2018.
In 2026, the asphalt pavers market is expected to be valued at USD 2.77 billion.
The global asphalt pavers market is estimated to have a momentous CAGR of 4.4%
Asia Pacific is expected to hold significant market share in the asphalt pavers market. The region was valued at USD 0.42 billion in 2018.
Within the type segment, wheel asphalt pavers is expected to be the leading segment in the market during the forecast period.
Increasing investments in the infrastructure sector from the emerging economies is proposed to propel the market.
Fayat Group, Caterpillar, Astec Industry, and AMMANN GROUP are the top players in asphalt pavers market.
Wheel pavers type is expected to drive the market of asphalt pavers.
The 2.5 – 5 meter pavement width pavers is estimated to have the major share of the market.
The major players in the market constitute approximately ~60% of the market which is majorly owed to their brand image and presence in multiple regions.
“We are happy with the professionalism of your in-house research team as well as the quality of your research reports. Looking forward to work together on similar projects”- One of the Leading Food Companies in Germany
“We appreciate the teamwork and efficiency for such an exhaustive and comprehensive report. The data offered to us was exactly what we were looking for. Thank you!”- Intuitive Surgical
“I recommend Fortune Business Insights for their honesty and flexibility. Not only that they were very responsive and dealt with all my questions very quickly but they also responded honestly and flexibly to the detailed requests from us in preparing the research report. We value them as a research company worthy of building long-term relationships.”- Major Food Company in Japan
“Well done Fortune Business Insights! The report covered all the points and was very detailed. Looking forward to work together in the future”- Ziering Medical
“It has been a delightful experience working with you guys. Thank you Fortune Business Insights for your efforts and prompt response”- Major Manufacturer of Precision Machine Parts in India
“I had a great experience working with Fortune Business Insights. The report was very accurate and as per my requirements. Very satisfied with the overall report as it has helped me to build strategies for my business”- Hewlett-Packard
“This is regarding the recent report I bought from Fortune Business insights. Remarkable job and great efforts by your research team. I would also like to thank the back end team for offering a continuous support and stitching together a report that is so comprehensive and exhaustive”- Global Management Consulting Firm
“Please pass on our sincere thanks to the whole team at Fortune Business Insights. This is a very good piece of work and will be very helpful to us going forward. We know where we will be getting business intelligence from in the future.”- UK-based Start-up in the Medical Devices Sector
“Thank you for sending the market report and data. It looks quite comprehensive and the data is exactly what I was looking for. I appreciate the timeliness and responsiveness of you and your team.”- One of the Largest Companies in the Defence Industry