Asphalt Pavers Market Size to Reach USD 2.77 Billion by 2026; Increasing Applications of Asphalt to Spur High Growth

The global asphalt pavers market size is expected to reach USD 2.77 billion by 2026. The increasing demand for transportation infrastructure in developed and developing economies is one of the factors uplifting the asphalt pavers market share. Moreover, the increasing enlargement of roads and highways will substantially benefit the market growth during the forecast period, says Fortune Business Insights in a report, titled “Asphalt Pavers Market Size, Share & Industry Analysis, By Type (Track pavers, Wheel pavers & Screeds), By Pavement Width (Less than 2.5 Meters, 2.5 – 5 Meters & More than 5 Meters), and Regional Forecast, 2019-2026” the market size stood at USD 1.98 billion in 2018 and is expected to rise at a CAGR of 4.4% between 2019 to 2026

The increasing applications of asphalt especially in airports, as asphalt runways provide additional comfort during takeoffs and landings, along with the reduction in runway maintenance time and much faster construction phase. The versatility of asphalt is expected to boost the asphalt pavers market trends in the foreseeable future. Asphalt applications consist of 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 mostly reused and recycled pavement material making it a preferable method. For instance, 94% of the roads built in the U.S. are paved by asphalt.

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https://www.fortunebusinessinsights.com/industry-reports/asphalt-pavers-market-101706

Key Segments in the Global Asphalt Pavers Market

• Type: Under the segment, the market is categorized into track pavers, wheel pavers, and screeds. The wheel pavers will account for major market share during the forecast period owing to its capacity to repair existing road conditions, for full-depth or variable-depth repairs and for grade and slope control. Screeds pavers segment is expected to grow rapidly in the forthcoming year owing to the increasing demand for screeds as it delivers sorting of asphalt along with the density hence resulting in the better interlocking of material. Track pavers are expected to witness considerable growth during the forecast period due to its restricted applications. Track pavers consist of either crawlers or rubber tires


• Pavement Width: Under this segment, the market is classified into less than 2.5 Meters, 2.5 – 5 Meters & more than 5 Meters. 2.5 – 5 meters pavement width type of asphalt finishers are expected to witness rapid growth during the forecast period. It is used for multiple purposes and sizes of the roads as they provide flexibility in the spreading area of asphalt. Moreover, this is the most common type of asphalt paver as they can be used at places the area and sizes do not vary a lot majorly these are the widths of a significant number of the roads. Less than 2.5 meters pavers witnessed an outstanding rate of 38.7% in 2018 and is expected to grow rapidly during the forecast period due to its applications in parking lots, parks, rural areas. Furthermore, more than 5 meters is expected to exhibit a high growth rate during the forecast period owing to the increasing use of concretes for paving high width roads and also emerging economies use concrete roads for the same purpose.


• Region: Under the segmented, the market is categorized into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. The market size in Asia Pacific was valued at USD 0.42 billion in 2018 and is predicted to remain dominant during the forecast period. China is among the major country in the region as it supports infrastructure development at the provincial level. Manufacturers also produce low cost of the machines which in return results in higher sales. North America is expected to witness a moderate growth rate owing to its early adoption of machines. Additionally, the moderate growth in the automotive sector in rural areas is expected to boost the asphalt paver market trends.

Some of the Prominent Companies in the Global Asphalt Pavers Market are:

• AB Volvo


• Fayat Group


• Caterpillar


• Astec Industry


• XCMG Construction Machinery Company


• AMMANN GROUP


• Zoomlion


• AUNG HEIN MIN CO., LTD.


• SANY GROUP


• Deere & Company

Recent Industrial Development:

• July 2019: Deere & Company acquired Wirtgen Group. This acquisition will result in enhanced construction equipment offering of Deere’s already established portfolio

Global Asphalt Pavers Market Scope