Road Marking Machine Market: Global Industry Analysis and Forecast (2023-2029)

The Road Marking Machine Market was valued nearly US$ 7.25 Bn. in 2022. Road Marking Machine Market size is estimated to grow at a CAGR of 9.34% & is expected to reach at US$ 13.56 Bn. by 2029.
Road Marking Machine Market Overview:
The Road marking technology leaves marks on the road to aid cars & pedestrians in their navigation. Road marking also aids with parking lot markers & provides official information to road users. Furthermore, road markings have an important role in traffic safety, thus their importance is great. In addition, road markings include navigational information, which aids in the supplementing of advanced driver assistance systems.To know about the Research Methodology :- Request Free Sample Report
Road Marking Machine Market Dynamics:
Road markings are an important part of road safety & maintenance as they help motorists & pedestrians navigate more efficiently and safely. As a result, the worldwide market is likely to be driven by improved demand for road safety & maintenance throughout the forecast period. Furthermore, globalization, as well as increased industrialization & urbanization, are likely to drive market growth. Technological improvements are also expected to stimulate demand for high-quality road infrastructure in the coming years. Governments around the world have increased their spending on road infrastructure to encourage balanced regional economic growth, improve trade & travel, & raise education. As a result, greater government investments are projected to boost the market over the forecast period.

The U.S is one of the key regional marketplaces due to its high-end research and advanced processing skills, as well as government help to change the country's RMM sector. These factors are also predicted to help the North American market flourish. As RMM can be used in a different applications through the construction & infrastructure industries, top companies in the worldwide market place a higher value on economies of scope than economies of scale. As a result, for firms to gain a competitive advantage in the market, new product creation & extensive marketing operations are vital.

India's recovery would be aided by investments in road infrastructure:

The government's commitment to infrastructure spending has been brought back into sharp focus in the Union Budget 2021-22. Given the importance of road and highway infrastructure to economic development & the transportation of goods & services throughout the country, there is an ongoing need to extend & strengthen the country's road network. The budget for the road transport and highways sector in the year 2021-22 recognizes this requirement with a considerable budgeted spend of 1, 18,101 crore, about a 20% increase above the expectations for 2021-21. This is in addition to the authority to raise 65,000 crore in internal & extrabudgetary resources.

While the Covid-19 pandemic caused some delays and challenges for national highway projects, there was no significant slowdown in new project awards or physical construction between April 2021 and January 2021, with nearly 7,602 km of roads awarded & more than 8,745 km of roads completed by January 2021.

Projects in the works

Physical construction of another 12,000 Km is expected to be completed by March 2022, according to the Ministry of Road Transport & Highways, with numerous projects expected to be completed this calendar year. This Budget also includes a plethora of new projects, particularly in Tamil Nadu, Kerala, and West Bengal.
Segment Analysis:
Insights into Machine Types

The market is divided into three categories based on machine type: manual, semi-automated, and fully automatic. In the year 2022, the manual RMM segment held the largest proportion of the industry. It's a hand-operated RMM that's commonly used to line bus stops, parking lots, train platforms, factory floors, & municipal crossroads. Over the expected period, the automatic RMM category is expected to gain traction. These devices use sensor-based or laser-based technologies to provide great accuracy & lines with consistent thickness over a long distance. They're ideal for highway road marking, as well as road maintenance & repair. The second-largest section is expected to be semi-automatic. These RMMs require manual supervision in addition to software enablement, therefore only certain operations must be done manually. These machines can be automatic or pushed by hand.

The industry has been divided into road, car park, anti-skid, and other markings based on application. In terms of revenue, the road markings application segment had the biggest market share in the year 2022. The market is anticipated to grow even more in the future years, reaching USD 2.91 Bn. by the end of 2029.

The second-largest application segment in the year 2022 was car park lining, which is expected to grow at the quickest rate throughout the forecast period. In terms of revenue, the anti-skid category held a considerable proportion & is expected to continue to increase in the future.
Regional Insights:
Over the forecast period, APAC is expected to lead the global market. China, India, & Japan are three of the largest economies in the APAC area, and they are expected to have a significant impact on global trade. The primary factors driving the market's growth are rising industrialization, technological advancements, & growing urbanization & infrastructure development. Due to increasing demand for RMM from a variety of end-user sectors, Europe also accounted for a large portion of the global market in terms of revenue in the year 2022. Germany, France, Italy, & the U.K are the biggest European markets. In the year 2022, Central & South America accounted for roughly 18.65% of the worldwide share. The region has a lot of growth potential & prospects for the market, thus it's expected to grow at the fastest rate of 10.8% over the forecast period.
Road Marking Machine Market Competitive Landscape:
Advanced Striping Equipment, & Graco Inc., STiM are among the key industry participants. These businesses concentrate on maximizing business growth using a variety of marketing methods. Some big manufacturers, for example, are investigating new markets & extending their presence in emerging economies like India, Brazil, China, Saudi Arabia, and the UAE. Many of them are substantially investing in R&D in order to develop new items.

The objective of the report is to present a comprehensive analysis of the Road Marking Machine Market to the stakeholders in the industry. The past and current status of the industry with the forecasted Market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include Market leaders, followers, and new entrants.

PORTER, PESTEL analysis with the potential impact of micro-economic factors of the Market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The report also helps in understanding the Road Marking Machine Market dynamics, structure by analyzing the Market segments and project the Road Marking Machine Market size. Clear representation of competitive analysis of key players by Operation, price, financial position, Operation portfolio, growth strategies, and regional presence in the Road Marking Machine Market make the report investor’s guide.
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Road Marking Machine Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2018 to 2022
Market Size in 2022:
US $ 7.25 Bn.


Forecast Period 2023 to 2029 CAGR:
9.34%
Market Size in 2029:
US $ 13.56 Bn.


 Segments Covered:
by Machine Type
Manual
Semi-Automatic
Fully Automatic


by Application
Road
Car Park
Anti-Skid Markings.



Road Marking Machine Market, by Region
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (Brazil, Argentina Rest of South America)
Road Marking Machine Market, Key Players are:
1. Advanced Striping Equipment
2. Hawk Pumps
3. M-B Companies, Inc.
4. RME
5. EZ-Liner Industries
6. Nanjing Roadsky Traffic Facility Co.,Ltd.
7. HOFMANN
8. Graco Inc.
9. MRL Equipment Co.
10. BORUM A/S
11. STiM
12. Automark Industries
13. Dayu Road Marking
14. Road Maintenance Services Limited,
15. TATU Traffic Group
16. Titan Tool Inc.
17. Zhengzhou Dayu Machinery Co., Ltd
18. Zhenjiang Winfar Transport Facilities Co., Ltd.

FAQ’S:

1) What is the share of the Global Road Marking Machine Market in 2022?
Answer: The Global Road Marking Machine Market was accounted for 7.25 Bn in the year 2022.

2) Which Machine Type segment is dominating the Global Road Marking Machine Market?
Answer: Fully Automatic segment is the dominating Machine Type segment in the market.

3) What are the key players in the Global Road Marking Machine Market?
Answer: Advanced Striping Equipment, Hawk Pumps, M-B Companies, Inc., RME
EZ-Liner Industries, Nanjing Roadsky Traffic Facility Co.,Ltd., HOFMANN, Graco Inc.
MRL Equipment Co., BORUM A/S, STiM, Automark Industries, Dayu Road Marking
Road Maintenance Services Limited, TATU Traffic Group, Titan Tool Inc., Zhengzhou Dayu Machinery Co., Ltd, Zhenjiang Winfar Transport Facilities Co., Ltd.

4) Which factor acts as the driving factor for the growth of the Road Marking Machine Market?
Answer: The major factors for the growth of the Global Road Marking Machine market includes increased demand for road safety and maintenance throughout the forecast period.