Global Asphalt Pavers Market was valued $1.1 Bn in 2019 and is expected to reach $2.77 Bn by 2026, at a CAGR of 3.5% during the forecast period.



Global 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.
Global 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 2020-21, 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.
Global Asphalt Pavers Market Segment Analysis

The tracked pavers segment had the highest revenue share of xx% in 2019. 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 2019, 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 2019, 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 2018, owing to the low engine power and cost-effective nature of the product.



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Global Asphalt Pavers Market Regional Insights

In 2019, 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 2018.

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.
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Global Asphalt Pavers Market, by Region

• North America
• Europe
• South America
• MEA
• Asia Pacific
Global Asphalt Pavers Market Key Players

• 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
• XCMG



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