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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 is anticipated to expand at a CAGR of 4.00% over the forecast period from 2020 to 2030.
Global Asphalt Pavers Market: OverviewAn 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: DynamicsThe 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 AnalysisAmong 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 AnalysisThe 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:
Table of Contents Chapter 1. Methodology and Scope 1.1. Research Methodology 1.2. Research Scope & Assumptions 1.3. List of Data SourcesChapter 2. Executive SummaryChapter 3. Global Asphalt Pavers Market Outlook 3.1. Market Segmentation 3.2. Market Size and Growth Prospects, 2016 - 2027 3.3. Value Chain Analysis 3.4. Market Dynamics 3.4.1. Market driver analysis 3.4.2. Market restraint analysis | read more...