Asphalt Pavers Market was valued $ 1.90 Bn in 2022 and is expected to reach $ 2.42 Bn by 2029, at a CAGR of 3.5% during the forecast period.Asphalt Pavers Market Introduction
An asphalt paver is a piece of construction machinery that is used to lay asphalt on sidewalks, parking lots, bridges, and other similar locations. It flattens the asphalt and provides slight compaction until heavy road rollers compress it further. It's commonly referred to as an asphalt paver. While some asphalt pavers are pulled by the dump truck, the majority of these machines are now self-propelled. Growing infrastructure and road development initiatives in developing economies to create smart cities is a major driving force for the global asphalt pavers sector.To know about the Research Methodology :- Request Free Sample Report
Asphalt Pavers Market Dynamics
Different technologies and developments are shaping both future and present asphalt paver manufacturing in the asphalt paving equipment industry. The trend for electrically heated screeds, according to market participants, may have the greatest impact on paver output. The rise of electric screeds coincided with a growing focus on fuel efficiency. Electric screeds eliminate the associated fumes as well as the use of diesel fuel. These are also easier to manage the heat and are cleaner, removing some of the maintenance problems that come with diesel heated screeds. Construction companies all over the world are constantly focused on long-term project development in order to obtain energy efficiency certifications. Manufacturers are shifting their focus to the production of user-friendly, energy-efficient, and low-emission construction equipment, and asphalt pavers are no exception, as these certifications require construction industries to reduce their emissions and emission footprint across the overall project lifecycle. With the rising rate of urbanization and the expansion of industrial activities around the world, especially in developing countries. The need for good roads, highways, and bridges is at the top of the government's priority list. APAC region is expected to witness significant growth of xx% during the forecast period. The Indian government has invested Rs. 91,823 Crore (USD 13.14 billion) for road and highway development in the union budget for financial year 2021-21, up from Rs. 83,016 Crore (USD 11.84 billion) in the previous year's budget. In addition, India is primarily focused on expanding its transportation network by aggressively investing in road and rail infrastructure. The country is concentrating on developing its power infrastructure by constructing thermal, nuclear, wind, and solar power plants. Because of the government's emphasis on infrastructure growth, the Indian construction equipment market has the potential to grow significantly. China is concentrating its efforts on developing its western area. In line with this, it has also announced a number of infrastructure projects for Tibet.Asphalt Pavers Market Segment Analysis
The tracked pavers segment had the highest revenue share of xx% in 2022. This is due to its superior performance as compared to wheeled pavers. Tracked wheelers are also favored over wheeled wheelers because of their superior traction and floatation, which improves stability and allows them to turn in tighter spaces. In addition, tracked pavers work well in hilly and mountainous areas with steep slopes. They can deliver without sliding and can either drive or stop the truck from slipping downhill. In 2022, tracked pavers accounted for xx% of the segment, with asphalt highway and airport pavement ventures favoring tracked pavers over wheeled pavers. Wheeled pavers are still in high demand, especially for patch paving and paving projects on town or city roads. Because of its higher system performance and lower operating costs, the hydrostatic segment had the largest market share of xx% in 2022, by Technology. The hydrostatic mechanism has two working gears that are ideal for high altitudes and provides step-less speed from zero to maximum with minimal turnaround time. Paving width and operating weight are two of the most important features that construction firms must consider when maximizing their investments. Screeds with paving widths ranging from 1.5 to 2.5 meters are in high demand and accounted for over 40% of overall volume sales by the end of 2022, owing to the low engine power and cost-effective nature of the product.Asphalt Pavers Market Regional Insights
In 2022, the Asia-Pacific region remained the largest market for asphalt pavers contributing a market share of xx%. By the end of 2029, the Asia Pacific region is projected to account for 60% of the global construction expenditure, owing to China's rapid infrastructure growth. From its overall GDP contribution, China invested a large amount in infrastructure and road building. Increased Y-o-Y (percent) GDP growth, combined with urbanization in countries like China, India, and Indonesia, is expected to boost public infrastructure spending. The road sector accounts for around 3.14 percent of India's gross value-added, with freight traffic accounting for 69 percent and passenger traffic accounting for 90 percent. Similarly, the length of the expressway in China is increasing at a rate of more than 3.5 percent per year, with 142,600 kilometers of expressway in 2022. Intelligent pavement is a form of asphalt pavement that uses asphalt pavers with mapping sensors based on global positioning systems (GPS) and optional feedback controls. It is one of the most significant advancements in road design, and it has been widely embraced by manufacturers in Europe and China. In Europe, the construction industry is growing at a rate of more than 2% per year. The demand for asphalt pavers in Europe is expected to rise at a CAGR of about 4%. Due to the region's slow economic growth, construction spending in Europe is projected to remain flat. France, Germany, and the United Kingdom are projected to be the fastest rising infrastructure investment destinations in Western Europe.Asphalt Pavers Market Scope: Inquire before buying
Asphalt Pavers Market Report Coverage Details Base Year: 2022 Forecast Period: 2023-2029 Historical Data: 2018 to 2022 Market Size in 2022: US $ 1.90 Bn. Forecast Period 2023 to 2029 CAGR: 3.5% Market Size in 2029: US $ 2.42 Bn. Segments Covered: by Technology Hydrostatic Mechanical by Product Type Wheeled Asphalt Pavers Tracked Asphalt Pavers by Width < 1.5 m 1.5 m - 2.5 m > 2.3 m Asphalt Pavers Market, by Region
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC) Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe) North America (United States, Canada and Mexico) Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A) South America (Brazil, Argentina Rest of South America)Asphalt Pavers Market Key Players
1. Volvo CE 2. Caterpillar Inc. 3. Weiler 4. Zoomlion Company Limited 5. Dynapac 6. Bomag GmbH 7. XCMG Construction Machinery Company Ltd 8. Sany Heavy Industries Limited 9. Fayat Group 10. Vogele 12. Ammann Group 13. Astec Industry 14. Wirtgen group 15. Sumitomo Fayat Group 16. VT L 17. Eeboy 18. Shantui 19. XCMG Frequently Asked Questions: 1. Which region has the largest share in Global Asphalt Pavers Market? Ans: Asia-Pacific region held the highest share in 2022. 2. What is the growth rate of Global Asphalt Pavers Market? Ans: The Global Asphalt Pavers Market is growing at a CAGR of 3.5% during forecasting period 2023-2029. 3. What is scope of the Global Asphalt Pavers market report? Ans: Global Asphalt Pavers Market report helps with the PESTEL, PORTER, COVID-19 Impact analysis, Recommendations for Investors & Leaders, and market estimation of the forecast period. 4. Who are the key players in Global Asphalt Pavers market? Ans: The important key players in the Global Asphalt Pavers Market are – Volvo CE, Caterpillar Inc., Weiler, Zoomlion Company Limited, Dynapac, Bomag GmbH, XCMG Construction Machinery Company Ltd, Sany Heavy Industries Limited, Fayat Group, Vogele, Ammann Group, Astec Industry, Wirtgen group, Sumitomo Fayat Group, VT L, Eeboy, Shantui, and XCMG 5. What is the study period of this market? Ans: The Global Asphalt Pavers Market is studied from 2022 to 2029.
1. Preface 1.1. Market Definition and Key Research Objectives 1.2. Research Highlights 2. Assumptions and Research Methodology 2.1. Report Assumptions 2.2. Abbreviations 2.3. Research Methodology 2.3.1. Secondary Research 2.3.1.1. Secondary data 2.3.1.2. Secondary Sources 2.3.2. Primary Research 2.3.2.1. Data from Primary Sources 2.3.2.2. Breakdown of Primary Sources 3. Executive Summary: Global Asphalt Pavers Market Size, by Market Value (US$ Mn) 3.1. Global Market Segmentation 3.2. Global Market Segmentation Share Analysis, 2022 3.2.1. Global 3.2.2. By Region (North America, Europe, Asia Pacific, South America, Middle East Africa) 3.3. Geographical Snapshot of the Asphalt Pavers Market 3.4. Geographical Snapshot of the Asphalt Pavers Market, By Manufacturer share 4. Global Asphalt Pavers Market Overview, 2022-2029 4.1. Market Dynamics 4.1.1. Drivers 4.1.1.1. Global 4.1.1.2. By Region (North America, Europe, Asia Pacific, South America, Middle East Africa) 4.1.2. Restraints 4.1.2.1. Global 4.1.2.2. By Region (North America, Europe, Asia Pacific, South America, Middle East Africa) 4.1.3. Opportunities 4.1.3.1. Global 4.1.3.2. By Region (North America, Europe, Asia Pacific, South America, Middle East Africa) 4.1.4. Challenges 4.1.4.1. Global 4.1.4.2. By Region (North America, Europe, Asia Pacific, South America, Middle East Africa) 4.1.5. Industry Trends and Emerging Technologies 4.1.6. Porters Five Forces Analysis 4.1.6.1. Threat of New Entrants 4.1.6.2. Bargaining Power of Buyers/Consumers 4.1.6.3. Bargaining Power of Suppliers 4.1.6.4. Threat of Substitute Products 4.1.6.5. Intensity of Competitive Rivalry 4.1.7. Value Chain Analysis 4.1.8. Technological Roadmap 4.1.9. Regulatory landscape 4.1.10. Impact of the Covid-19 Pandemic on the Global Asphalt Pavers Market 5. Supply Side and Demand Side Indicators 6. Global Asphalt Pavers Market Analysis and Forecast, 2022-2029 6.1. Global Asphalt Pavers Market Size & Y-o-Y Growth Analysis. 7. Global Asphalt Pavers Market Analysis and Forecasts, 2022-2029 7.1. Market Size (Value) Estimates & Forecast By Technology, 2022-2029 7.1.1. Hydrostatic 7.1.2. Mechanical 7.2. Market Size (Value) Estimates & Forecast By Product Type, 2022-2029 7.2.1. Wheeled Asphalt Pavers 7.2.2. Tracked Asphalt Pavers 7.3. Market Size (Value) Estimates & Forecast By Width, 2022-2029 7.3.1. < 1.5 m 7.3.2. 1.5 m - 2.5 m 7.3.3. > 2.3 m 8. Global Asphalt Pavers Market Analysis and Forecasts, By Region 8.1. Market Size (Value) Estimates & Forecast By Region, 2022-2029 8.1.1. North America 8.1.2. Europe 8.1.3. Asia-Pacific 8.1.4. Middle East & Africa 8.1.5. South America 9. North America Asphalt Pavers Market Analysis and Forecasts, 2022-2029 9.1. Market Size (Value) Estimates & Forecast By Technology, 2022-2029 9.1.1. Hydrostatic 9.1.2. Mechanical 9.2. Market Size (Value) Estimates & Forecast By Product Type, 2022-2029 9.2.1. Wheeled Asphalt Pavers 9.2.2. Tracked Asphalt Pavers 9.3. Market Size (Value) Estimates & Forecast By Width, 2022-2029 9.3.1. < 1.5 m 9.3.2. 1.5 m - 2.5 m 9.3.3. > 2.3 m 10. North America Asphalt Pavers Market Analysis and Forecasts, By Country 10.1. Market Size (Value) Estimates & Forecast By Country, 2022-2029 10.1.1. US 10.1.2. Canada 10.1.3. Mexico 11. U.S. Asphalt Pavers Market Analysis and Forecasts, 2022-2029 11.1. Market Size (Value) Estimates & Forecast By Technology, 2022-2029 11.2. Market Size (Value) Estimates & Forecast By Product Type, 2022-2029 11.3. Market Size (Value) Estimates & Forecast By Width, 2022-2029 12. Canada Asphalt Pavers Market Analysis and Forecasts, 2022-2029 12.1. Market Size (Value) Estimates & Forecast By Technology, 2022-2029 12.2. Market Size (Value) Estimates & Forecast By Product Type, 2022-2029 12.3. Market Size (Value) Estimates & Forecast By Width, 2022-2029 13. Mexico Asphalt Pavers Market Analysis and Forecasts, 2022-2029 13.1. Market Size (Value) Estimates & Forecast By Technology, 2022-2029 13.2. Market Size (Value) Estimates & Forecast By Product Type, 2022-2029 13.3. Market Size (Value) Estimates & Forecast By Width, 2022-2029 14. Europe Asphalt Pavers Market Analysis and Forecasts, 2022-2029 14.1. Market Size (Value) Estimates & Forecast By Technology, 2022-2029 14.2. Market Size (Value) Estimates & Forecast By Product Type, 2022-2029 14.3. Market Size (Value) Estimates & Forecast By Width, 2022-2029 15. Europe Asphalt Pavers Market Analysis and Forecasts, By Country 15.1. Market Size (Value) Estimates & Forecast By Country, 2022-2029 15.1.1. U.K 15.1.2. France 15.1.3. Germany 15.1.4. Italy 15.1.5. Spain 15.1.6. Sweden 15.1.7. CIS Countries 15.1.8. Rest of Europe 16. U.K. Asphalt Pavers Market Analysis and Forecasts, 2022-2029 16.1. Market Size (Value) Estimates & Forecast By Technology, 2022-2029 16.2. Market Size (Value) Estimates & Forecast By Product Type, 2022-2029 16.3. Market Size (Value) Estimates & Forecast By Width, 2022-2029 17. France Asphalt Pavers Market Analysis and Forecasts, 2022-2029 17.1. Market Size (Value) Estimates & Forecast By Technology, 2022-2029 17.2. Market Size (Value) Estimates & Forecast By Product Type, 2022-2029 17.3. Market Size (Value) Estimates & Forecast By Width, 2022-2029 18. Germany Asphalt Pavers Market Analysis and Forecasts, 2022-2029 18.1. Market Size (Value) Estimates & Forecast By Technology, 2022-2029 18.2. Market Size (Value) Estimates & Forecast By Product Type, 2022-2029 18.3. Market Size (Value) Estimates & Forecast By Width, 2022-2029 19. Italy Asphalt Pavers Market Analysis and Forecasts, 2022-2029 19.1. Market Size (Value) Estimates & Forecast By Technology, 2022-2029 19.2. Market Size (Value) Estimates & Forecast By Product Type, 2022-2029 19.3. Market Size (Value) Estimates & Forecast By Width, 2022-2029 20. Spain Asphalt Pavers Market Analysis and Forecasts, 2022-2029 20.1. Market Size (Value) Estimates & Forecast By Technology, 2022-2029 20.2. Market Size (Value) Estimates & Forecast By Product Type, 2022-2029 20.3. Market Size (Value) Estimates & Forecast By Width, 2022-2029 21. Sweden Asphalt Pavers Market Analysis and Forecasts, 2022-2029 21.1. Market Size (Value) Estimates & Forecast By Technology, 2022-2029 21.2. Market Size (Value) Estimates & Forecast By Product Type, 2022-2029 21.3. Market Size (Value) Estimates & Forecast By Width, 2022-2029 22. CIS Countries Asphalt Pavers Market Analysis and Forecasts, 2022-2029 22.1. Market Size (Value) Estimates & Forecast By Technology, 2022-2029 22.2. Market Size (Value) Estimates & Forecast By Product Type, 2022-2029 22.3. Market Size (Value) Estimates & Forecast By Width, 2022-2029 23. Rest of Europe Asphalt Pavers Market Analysis and Forecasts, 2022-2029 23.1. Market Size (Value) Estimates & Forecast By Technology, 2022-2029 23.2. Market Size (Value) Estimates & Forecast By Product Type, 2022-2029 23.3. Market Size (Value) Estimates & Forecast By Width, 2022-2029 24. Asia Pacific Asphalt Pavers Market Analysis and Forecasts, 2022-2029 24.1. Market Size (Value) Estimates & Forecast By Technology, 2022-2029 24.2. Market Size (Value) Estimates & Forecast By Product Type, 2022-2029 24.3. Market Size (Value) Estimates & Forecast By Width, 2022-2029 25. Asia Pacific Asphalt Pavers Market Analysis and Forecasts, by Country 25.1. Market Size (Value) Estimates & Forecast By Country, 2022-2029 25.1.1. China 25.1.2. India 25.1.3. Japan 25.1.4. South Korea 25.1.5. Australia 25.1.6. ASEAN 25.1.7. Rest of Asia Pacific 26. China Asphalt Pavers Market Analysis and Forecasts, 2022-2029 26.1. Market Size (Value) Estimates & Forecast By Technology, 2022-2029 26.2. Market Size (Value) Estimates & Forecast By Product Type, 2022-2029 26.3. Market Size (Value) Estimates & Forecast By Width, 2022-2029 27. India Asphalt Pavers Market Analysis and Forecasts, 2022-2029 27.1. Market Size (Value) Estimates & Forecast By Technology, 2022-2029 27.2. Market Size (Value) Estimates & Forecast By Product Type, 2022-2029 27.3. Market Size (Value) Estimates & Forecast By Width, 2022-2029 28. Japan Asphalt Pavers Market Analysis and Forecasts, 2022-2029 28.1. Market Size (Value) Estimates & Forecast By Technology, 2022-2029 28.2. Market Size (Value) Estimates & Forecast By Product Type, 2022-2029 28.3. Market Size (Value) Estimates & Forecast By Width, 2022-2029 29. South Korea Asphalt Pavers Market Analysis and Forecasts, 2022-2029 29.1. Market Size (Value) Estimates & Forecast By Technology, 2022-2029 29.2. Market Size (Value) Estimates & Forecast By Product Type, 2022-2029 29.3. Market Size (Value) Estimates & Forecast By Width, 2022-2029 30. Australia Asphalt Pavers Market Analysis and Forecasts, 2022-2029 30.1. Market Size (Value) Estimates & Forecast By Technology, 2022-2029 30.2. Market Size (Value) Estimates & Forecast By Product Type, 2022-2029 30.3. Market Size (Value) Estimates & Forecast By Width, 2022-2029 31. ASEAN Asphalt Pavers Market Analysis and Forecasts, 2022-2029 31.1. Market Size (Value) Estimates & Forecast By Technology, 2022-2029 31.2. Market Size (Value) Estimates & Forecast By Product Type, 2022-2029 31.3. Market Size (Value) Estimates & Forecast By Width, 2022-2029 32. Rest of Asia Pacific Asphalt Pavers Market Analysis and Forecasts, 2022-2029 32.1. Market Size (Value) Estimates & Forecast By Technology, 2022-2029 32.2. Market Size (Value) Estimates & Forecast By Product Type, 2022-2029 32.3. Market Size (Value) Estimates & Forecast By Width, 2022-2029 33. Middle East Africa Asphalt Pavers Market Analysis and Forecasts, 2022-2029 33.1. Market Size (Value) Estimates & Forecast By Technology, 2022-2029 33.2. Market Size (Value) Estimates & Forecast By Product Type, 2022-2029 33.3. Market Size (Value) Estimates & Forecast By Width, 2022-2029 34. Middle East Africa Asphalt Pavers Market Analysis and Forecasts, by Country 34.1. Market Size (Value) Estimates & Forecast by Country, 2022-2029 34.1.1. South Africa 34.1.2. GCC Countries 34.1.3. Egypt 34.1.4. Nigeria 34.1.5. Rest of ME&A 35. South Africa Asphalt Pavers Market Analysis and Forecasts, 2022-2029 35.1. Market Size (Value) Estimates & Forecast By Technology, 2022-2029 35.2. Market Size (Value) Estimates & Forecast By Product Type, 2022-2029 35.3. Market Size (Value) Estimates & Forecast By Width, 2022-2029 36. GCC Countries Asphalt Pavers Market Analysis and Forecasts, 2022-2029 36.1. Market Size (Value) Estimates & Forecast By Technology, 2022-2029 36.2. Market Size (Value) Estimates & Forecast By Product Type, 2022-2029 36.3. Market Size (Value) Estimates & Forecast By Width, 2022-2029 37. Egypt Asphalt Pavers Market Analysis and Forecasts, 2022-2029 37.1. Market Size (Value) Estimates & Forecast By Technology, 2022-2029 37.2. Market Size (Value) Estimates & Forecast By Product Type, 2022-2029 37.3. Market Size (Value) Estimates & Forecast By Width, 2022-2029 38. Nigeria Asphalt Pavers Market Analysis and Forecasts, 2022-2029 38.1. Market Size (Value) Estimates & Forecast By Technology, 2022-2029 38.2. Market Size (Value) Estimates & Forecast By Product Type, 2022-2029 38.3. Market Size (Value) Estimates & Forecast By Width, 2022-2029 39. Rest of ME&A Asphalt Pavers Market Analysis and Forecasts, 2022-2029 39.1. Market Size (Value) Estimates & Forecast By Technology, 2022-2029 39.2. Market Size (Value) Estimates & Forecast By Product Type, 2022-2029 39.3. Market Size (Value) Estimates & Forecast By Width, 2022-2029 40. South America Asphalt Pavers Market Analysis and Forecasts, 2022-2029 40.1. Market Size (Value) Estimates & Forecast By Technology, 2022-2029 40.2. Market Size (Value) Estimates & Forecast By Product Type, 2022-2029 40.3. Market Size (Value) Estimates & Forecast By Width, 2022-2029 41. South America Asphalt Pavers Market Analysis and Forecasts, by Country 41.1. Market Size (Value) Estimates & Forecast by Country, 2022-2029 41.1.1. Brazil 41.1.2. Argentina 41.1.3. Rest of South America 42. Brazil Asphalt Pavers Market Analysis and Forecasts, 2022-2029 42.1. Market Size (Value) Estimates & Forecast By Technology, 2022-2029 42.2. Market Size (Value) Estimates & Forecast By Product Type, 2022-2029 42.3. Market Size (Value) Estimates & Forecast By Width, 2022-2029 43. Argentina Asphalt Pavers Market Analysis and Forecasts, 2022-2029 43.1. Market Size (Value) Estimates & Forecast By Technology, 2022-2029 43.2. Market Size (Value) Estimates & Forecast By Product Type, 2022-2029 43.3. Market Size (Value) Estimates & Forecast By Width, 2022-2029 44. Rest of South America Asphalt Pavers Market Analysis and Forecasts, 2022-2029 44.1. Market Size (Value) Estimates & Forecast By Technology, 2022-2029 44.2. Market Size (Value) Estimates & Forecast By Product Type, 2022-2029 44.3. Market Size (Value) Estimates & Forecast By Width, 2022-2029 45. Competitive Landscape 45.1. Geographic Footprint of Major Players in the Global Asphalt Pavers Market 45.2. Competition Matrix 45.2.1. Competitive Benchmarking of Key Players By Price, Presence, Market Share, Applications and R&D Investment 45.2.2. New Product Launches and Product Enhancements 45.2.3. Market Consolidation 45.2.3.1. M&A by Regions, Investment and Verticals 45.2.3.2. M&A, Forward Integration and Backward Integration 45.2.3.3. Partnership, Joint Ventures and Strategic Alliances/ Sales Agreements 45.3. Company Profile : Key Players 45.3.1. Volvo CE 45.3.1.1. Company Overview 45.3.1.2. Financial Overview 45.3.1.3. Geographic Footprint 45.3.1.4. Product Portfolio 45.3.1.5. Business Strategy 45.3.1.6. Recent Developments 45.3.2. Caterpillar Inc. 45.3.3. Weiler 45.3.4. Zoomlion Company Limited 45.3.5. Dynapac 45.3.6. Bomag GmbH 45.3.7. XCMG Construction Machinery Company Ltd 45.3.8. Sany Heavy Industries Limited 45.3.9. Fayat Group 45.3.10. Vogele 45.3.11. Ammann Group 45.3.12. Astec Industry 45.3.13. Wirtgen group 45.3.14. Sumitomo Fayat Group 45.3.15. VT L 45.3.16. Eeboy 45.3.17. Shantui 45.3.18. XCMG 45.3.19. Other Key Players 46. Primary Key Insights