Asphalt Paver Market Size to Flourish at a CAGR of 3.7% to Surpass US$ 1,738.6 Million by 2032, States Fact.MR

Mulching Heads Market Analysis By Drive Type (Direct, Belt Drive Mulchers), By Carrier Capacity (10-20, 20-30 tons), By Mounting Equipment Capacity, By Max. Shredding Diameter, By Max. Cutting Width, By Mounting Equipment, By Region

Rockville, May 23, 2023 (GLOBE NEWSWIRE) — According to Fact.MR, over the projection period of 2022–2032, the global asphalt paver market is anticipated to grow at a value CAGR of 3.7% and present an absolute dollar opportunity of US$ 571.9 million. By the end of 2022, it is anticipated to attain a market valuation of US$ 1,211.2 million. By the end of 2032, it is predicted the industrial to continue growing and exceed a worth of US$ 1,738.6 million.

With growth in industrial and infrastructural sector in the fast pace economies globally, there has been heavy expenditure on the road maintenance and infrastructural projects, creating demand for asphalt paver globally. According to Energy Technology Perspectives (ETP) it is estimated that the world will need to add nearly 25 million paved road lane kilometers as only up to 60 % of roads are paved globally.

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Rising infrastructural and road development initiatives in emerging economies to develop smart cities serves a major driving factor which accelerates the growth of asphalt paver market globally

According to the fact, the global increase in construction activity continues to present attractive opportunities for the asphalt paver market. The report provides information on market trends, technological developments, and factors that drive demand in the asphalt paver industry. The analysis on the asphalt paver market also discusses the important trends that are anticipated to diversify the market’s future dominance.

High priority paving width segment, owing to their high demand in large highways construction. Rise in the number of national & international highway projects will boost the demand for asphalt paver having paving width more than 5 m to improve the efficiency of mega road projects.

Key Takeaways from Market Study

• The global asphalt paver market is projected to grow 3.7% and reach US$ 1,738.6 million by 2032.
• The market witnessed 3.3% CAGR between 2017 and 2021.
• The asphalt paver dominate the market with US$ 1,211.2 million valuations in 2022.
• North America dominated the market with 27.5% market share in 2022.
• The hydrostatic screed technology is likely to represent 71.5% market share in 2022.
• Based on region, demand for asphalt paver is expected to increase at Y-O-Y growth of 3.1% and 3.6%, respectively, in North America and East Asia in 2022.

Asphalt paver sales creating consistency in demand due to developing smart infrastructures not only in developed regions but also in developing regions, says a Fact.MR analyst.

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Market Development
Prominent manufacturers are focusing on acquisitions and partnerships in order to broaden their customer base and gain a competitive edge over other players. Further, many market players are focusing on the regions where the population is high and construction activities are gaining pace in these regions. This will result into gaining of increased market share in asphalt paver market.

Key Companies

• Ammann Schweiz AG
• Astec Industries, Inc
• Caterpillar Inc
• Fayat Group
• King Machinery
• Macropaver
• Mauldin Paving Products
• Miller Formless Co.
• Shantui Construction Machinery Co
• Sumitomo Heavy Industries, Ltd
• Volvo Construction Equipment

Segmentation of Asphalt Paver Industry Research

• By Paver Type:
  • Track Paver
  • Wheel Paver
• By Screed Technology:
  • Hydrostatic
  • Mechanical
• By Operating Weight:
  • 5k-8k KG
  • 8k-12k KG
  • 12k-15K KG
  • >15K KG
• By Paving Width:
  • <1.5m
  • 1.5-2.5m
  • 2.5-5m
  • >5m
• By Region:
  • North Americas
  • Latin America
  • Europe
  • East Asia
  • South Asia
  • Oceania
  • Middle East & Africa

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More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global asphalt paver market, presenting historical market data 2017-2021 and forecast statistics for the period of 2022-2032.

The study reveals essential insights on the basis of by operating weight (5k-8k KG, 8k-12k KG, 12k-15K KG, >15K KG), paver type (Track Paver, Wheel Paver), by screed technology (Hydrostatic, Mechanical) by paving weidth (<1.5m, 1.5-2.5m, 2.5-5m, >5m) across major regions of the world.

Key Questions Covered in the Asphalt Paver Market Report

• What will be the estimated size of the Market in 2023?
• At what rate will the global Asphalt Paver sales grow until 2032?
• Which are the factors hampering the Asphalt Paver demand?
• Which region will spearhead the growth in the global industry by 2032?
• Which are the factors driving sales in the Asphalt Paver Market during the forecast period?

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