Market Research Future (MRFR) has published a cooked research report on the “Global Asphalt mixing plants Market” that contains information from 2018 to 2032. The Asphalt mixing plants market is estimated to register a CAGR of 3.50% during the forecast period of 2023 to 2032.
MRFR recognizes the following companies as the key players in the global Asphalt mixing plants market— ASTEC, AMMANN Group, Speed Crafts, 4B Construction Corporation, Solmec Earthmovers Pvt. Ltd, Benninghoven, Nikko Company Limited, Arky Construction, Atlas industries, MARINI S.p.A and others
Asphalt mixing plants Market Highlights
The global asphalt mixing plants market share is accounted to register a CAGR of 3.50% during the forecast period and is estimated to reach USD 7.4 Billion by 2032.
The market for asphalt mixing plants is driven by growing infrastructure projects worldwide, demanding efficient and sustainable road construction solutions.
Browse In-depth Details [Table of Content, List of Figures, List of Tables] of Asphalt mixing plants Market Research Report
Segment Analysis
The global asphalt mixing plants market has been segmented based product type ,application, production capacity and end user.
On the basis of Product type, the market is segmented into batch mix, drum mix and continuous mix. The batch mix segment dominated the market in 2022. Batch mix plants are more flexible and can be used to make a wider variety of asphalt mixes than drum mix or continuous mix plants. They are also less expensive to buy and operate.
Based on application, the global asphalt mixing plants market has been segmented into road construction, parking lots, pedestrian paths and bridge. The road construction segment dominated the market in 2022. Many modern roads and highways require repair, maintenance, and restoration due to wear and tear over time. Due to the ongoing requirement for resurfacing, repaving, and rehabilitation operations as roads deteriorate, there is a constant need for road construction services.
Based on production capacity, the global Asphalt mixing plants market has been segmented into below 240t/h, 240t/h-320t/h and above 320t/h. The below 240t/h segment dominated the market in 2022. Asphalt mixing facilities with a capacity under 240 tonnes per hour are best suited for smaller local projects, road repairs, and maintenance operations. These plants are in great demand for jobs like filling potholes, resurfacing roads and small-scale building projects in urban and suburban areas.
Based on end user, the global asphalt mixing plants market has been segmented into residential and non-residential. The non-residential category generated the most income in 2022. Asphalt mixing facilities with a capacity under 240 tonnes per hour are best suited for smaller local projects, road repairs, and maintenance operations. These plants are in great demand for jobs like filling potholes, resurfacing roads and small-scale building projects in urban and suburban areas.
Regional Analysis
The global Asphalt mixing plants market, based on region, has been divided into the North America, Europe, Asia-Pacific, and Rest of the World. North America consists of US and Canada. The Europe Asphalt mixing plants market comprises of Germany, France, the UK, Italy, Spain, and the rest of Europe. The Asphalt mixing plants market in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The Rest of the World Asphalt mixing plants market comprises of Middle East, Africa, and Latin America.
The North America asphalt mixing plants market dominated this market in 2022 (45.80%). Due to North America's size, robust transport systems are necessary for the efficient movement of people and goods across the continent. The demand for asphalt mixing plants is fueled by the extensive usage of asphalt mixes in the building and maintenance of highways, interstates, and other large roadways.
Moreover, Europe holds the second-largest market share for asphalt mixing plants. As Europe transitions to renewable energy sources, infrastructure development and upgrading are necessary for wind farms, solar power plants, and other renewable energy projects. Asphalt mixing plants help supply the materials needed to build platforms and access roads.
Additionally, the Asia-Pacific asphalt mixing plants market is expected to grow at the fastest CAGR from 2023 to 2032. As a significant section of the population has relocated to metropolitan areas, the Asia Pacific region has experienced rapid urbanisation. Urbanisation has increased the requirement for highway, road, and urban infrastructure projects, all of which need the use of high-quality asphalt mixes made at asphalt mixing facilities.
Furthermore, the rest of the world's asphalt mixing plants market is divided into the Middle East, Africa, and Latin America. Latin America's asphalt mixing plant market is expanding due to urbanization and infrastructure projects, driving the need for efficient road construction and maintenance solutions.
Key Findings of the Study
- The global asphalt mixing plants market is expected to reach USD 7.4 Billion by 2032, at a CAGR of 3.50% during the forecast period.
- The Asia-Pacific region accounted for the fastest-growing global market. The Asia Pacific region has undergone rapid urbanization as a sizable portion of the population has moved to urban areas.
- Based on end-user, the non-residential segment was attributed to holding the largest market in 2022.
- ASTEC, AMMANN Group, Speed Crafts, 4B Construction Corporation, Solmec Earthmovers Pvt. Ltd, Benninghoven, Nikko Company Limited, Arky Construction, Atlas industries, MARINI S.p.A and others
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Companies Covered | 15 |
Pages | 128 |
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