The global asphalt mixing plant market is projected to grow at a CAGR of 2.8% in terms of value between 2020 and 2030. However, with the anticipated global economic slowdown due to the corona virus pandemic, the global asphalt mixing plant market shall stagnate until 2021 end. Post 2021, the market is set to regain traction, surpassing a valuation of US$ 2.4 billion.
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The road construction industry is witnessing significant upsurge, owing to rapid urbanization and industrialization. As a result, demand for adequate construction equipment is increasing, especially in developing economies such as China, India, and Brazil. Governments of these countries are allocating massive budgets for road and highway infrastructure in order to support economic development.
For instance, in its annual budget for fiscal year 2020 – 21, the Government of India allocated US$ 22.3 billion for building new transport infrastructure and accelerating highway construction. It also announced plans to construct around 15,500 km of highways nationwide. Such huge investments in road infrastructure has encouraged large & medium scale rod construction companies to invest in construction equipment, which has boosted demand for road construction machineries such as asphalt mixing plant.
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Key Takeaways of Asphalt Mixing Plant Market
- Global asphalt mixing plant market is poised to create an absolute $ opportunity of more than US$ 585 million by the end of the forecast period (2020 – 2030). In the year 2019, it was valued at US$ 1.9 billion.
- Stationary asphalt mixing plant segment is anticipated to accumulate the majority share in terms of value, expanding at a CAGR of 3.1% during the forecast period.
- Drum asphalt mixing plant segment is projected to grow at volume CAGR of 2.1% to create absolute $ opportunity of more than US$ 330 million. It is expected to gain 106 BPS into its market share by the end of forecast period.
- Asphalt mixing plants with production capacity between 50 and 150 TPH (tonnes per hour) are expected to hold around 30% of the market share in terms of value and is projected to grow by 1.2X more than asphalt mixing plant with production capacity above 300 TPH.
- Asia Pacific is projected to create an absolute $ opportunity of around US$ 230 million and is expected to hold more than 32% share in terms of value in the global asphalt mixing plant market by the end of the forecast period.
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“Global asphalt mixing plant market is primarily driven by growing demand of transportation facilities in developing economies. Manufacturers are focusing on developing asphalt mixing plants with additional features in order to increase customer base” says a Fact.MR analyst.
Asphalt Mixing Plant Market: Segmentation
FactMR’s study has done the segmentation of the asphalt mixing plant market on the basis of product, type, and capacity across 6 major regions.
Product
Type
Capacity
- Below 50 TPH
- 50-150 TPH
- 151-300 TPH
- Above 300 TPH
Regions
- North America
- Latin America
- Europe
- East Asia
- South Asia Pacific
- MEA
After reading the Asphalt Mixing Plant Market report, readers can:
- Understand the drivers, restraints, opportunities and trends affecting the growth of the global .
- Analyze key regions holding significant share of the total Asphalt Mixing Plant Market revenue.
- Study the growth outlook of the global Asphalt Mixing Plant Market scenario, including production, consumption, history and forecast.
- Learn consumption pattern and impact of each end use on the Asphalt Mixing Plant Market growth.
- Investigate the recent R&D projects performed by each Asphalt Mixing Plant Market player.
The Asphalt Mixing Plant Market report answers important questions which include:
- What does the status of the Asphalt Mixing Plant Market look?
- Asphalt Mixing Plant Market look like after the forecast period?
- Which region has the highest contribution to Asphalt Mixing Plant Market Devices why?
- Which players remain at the top of the Asphalt Mixing Plant Market look?
- What opportunities are available for the Asphalt Mixing Plant Market players to expand their production footprint?
- Which segment has the maximum impact on Asphalt Mixing Plant Market?
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