Global Asphalt Pavers Market 2021 (Includes Business Impact of COVID-19)

                                          
Report updated on 11th September, 2021: Global Asphalt Pavers Market 2021 (Includes Business Impact of COVID-19)
Global Asphalt Pavers Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2030 is a recent report generated by Trusted Business Insights. The global asphalt pavers market report has been segmented on the basis of technology, product type, and region.
Request Covid - 19 Impact
The global Asphalt Pavers market size was valued at USD$ 1.65 billion in 2020 and is projected to reachUDS $ 2.34 billion by 2030, and is anticipated to expand at a CAGR of 4.00% over the forecast period from 2020 to 2030.


Global Asphalt Pavers Market: Overview


An asphalt paver is a construction equipment used to shape, distribute, and partially compact a layer of asphalt on bridges, roads, parking lots, and other such places.


Global Asphalt Pavers Market: Dynamics


The global asphalt pavers market is expected to register a significant growth rate, owing to factors such as heavy expenditure on the road maintenance, along with increasing infrastructural projects. Increasing construction activities and improvement of roads in urban as well as rural areas are some of the factors expected to propel growth of the target market during the forecast period. High amount of spending to extend road networks, increasing public-private partnership, and increasing emphasis on strengthening transport infrastructure are expected to support demand for growth of the global market. In May 2018, for instance, World Bank approved US$128 Mn for Lao National Road 13 Improvement and Maintenance Project.

The latest trend observed in the market is manufacturers are focusing to introduce modern pavement technologies and using cost-effective materials for paving highways and bridges. Another trend observed in the market is reuse and renting road machinery and asphalt pavers, which is projected to create lucrative revenue opportunities for players operating in the target market.


Global Asphalt Pavers Market: Segment Analysis


Among the technology segments, the hydrostatic segment is projected to register significant growth rate over the forecast period.

Among the product type segment, the tracked pavers expected to account for major revenue share, and is projected to maintain its dominance over the forecast period.


Global Asphalt Pavers Market: Region Analysis


The market in Asia Pacific accounts for major revenue share, and is projected to maintain its dominance over the forecast period, owing to growth in construction activities, along with development & maintenance of roads to reduce the number of accidents. In addition, rising infrastructure development activities and renovation projects in the region are some of the other factors, anticipated to fuel growth of the target market. Moreover, the growth in automobiles and freight movement are expected to increase demand for better road network in emerging countries such as India and China. According to the document released by Government of India Planning Commission, the government of India is focusing on increasing the length of national highways to 200,000 km by approving Road Requirement Plan (RRP), while the Chinese government is also planning to connect roads in rural and remote areas.

The North America asphalt pavers market is estimated to grow at significant market share over the forecast period, owing to rising construction of such structures as shopping malls, office buildings etc., coupled with high investments for road network in countries such as US and Canada. Middle East & Africa asphalt pavers market is expected to grow at a moderate growth rate, owing to urbanization, increasing spending power, and increasing government expenditures on infrastructure development in developing countries such as Brazil and South Africa.

Global Asphalt Pavers Market Segmentation:

Segmentation by Technology:

  
Hydrostatic
  
Mechanical

Segmentation by Product Type:

  
Wheeled Asphalt Paver
  
Tracked Asphalt Paver


Key Market Players included in the report:


  
Ammann Group
  
Astec Industry
  
Bomag GmbH
  
Carlson
  
Caterpillar Inc.
  
Dynapac
  
Fayat Group
  
JOSEPH VOGELE AG
  
Sany Heavy Industries Limited
  
Shantui
  
Sumitomo
  
Vogele
  
Volvo Construction Equipment Corporation
  
VT Leeboy
  
Weiler
  
Wirtgen group
  
XCMG Construction Machinery Company Ltd
  
Zoomlion Company Limited


Below are the key development related to Asphalt Pavers Market in 2020 and 2021.


July 2020: Gencor Industries, Inc. to Acquire Blaw-Knox Paver Business From Volvo CE. Gencor Industries, Inc., (“Gencor”) (NASDAQ:GENC) has announced that it has signed an agreement to acquire the Blaw-Knox paver business and associated assets from Volvo CE. The Blaw-Knox business, name, and associated assets will transfer to Gencor, including the manufacturing production line currently located at Shippensburg Pennsylvania. The deal, which is expected to be finalized in Gencor’s first quarter of fiscal 2021, will allow Gencor to manufacture and develop Volvo CE’s current North American paver product line under the Blaw-Knox brand. Gencor is expected to continue marketing and servicing the Blaw-Knox paver line through selected Volvo CE dealers. Terms of the transaction have not been disclosed. Source

June 2020: Ammann takes full control of India JV. Switzerland-based Ammann Group Holding AG has fully acquired the stake of its partner in a joint venture in India. With effect from June 19, 2020, Ammann India Private Limited (AIN) has become a 100% owned subsidiary of Ammann BauAusrUstung AG (ABA). AIN’s origins date back to the establishment of the Ammann Apollo India joint venture in 2013. In the years that followed, the company developed its market position both in India and at an international level. The company has an extensive range of products that include asphalt mixing plants, asphalt pavers, rollers and concrete mixing plants, and its exports to other countries are also increasing steadily. Source

March 2020: Bergkamp Inc. Announces Acquisition of Benedict Slurry Seal. laboratory equipment in the United States. Bergkamp also will be taking its laboratory products into the future by making them available through an e-commerce website, which will be available starting in the second quarter of the year. Source