Roads constructed from asphalt offer numerous benefits, such as smoothness, as asphalt pavements require no construction joints. In addition, asphalt is cost effective, easy & fast to construct and more importantly, it is 100% recyclable. Such cutting edge advantages of asphalt has made it the most preferred paving material for mega projects such as highways or airport runway construction.
The global COVID-19 pandemic has turned several industries upside down by causing disruptions in their daily operations and limiting the supply of raw materials, hampering production and growth.
The report offers actionable and valuable market insights of Asphalt Mixing Plant. The latest report by Fact.MR provides details on the present scenario of the market across various regions along with the historic data and forecast of the market. The report also includes information on the sales and demand of Asphalt Mixing Plant Market across various industries and regions.
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The market study done by Fact.MR gives exclusive information about how the market will grow. The study identifies crucial trends that are determining the growth of Asphalt Mixing Plant market. This newly published report sheds light on vital dynamics, such as the drivers, restraints, and opportunities for key market players as well as emerging players associated with the production and supply. The latest report by Fact.MR provides detailed Market Analysis of Asphalt Mixing Plant
This newly published and insightful report sheds light on Market Insights of Asphalt Mixing Plant, key dynamics, their impact on the overall value chain from suppliers to end-users and Growth of Asphalt Mixing Plant Market.
Key Takeaways of Asphalt Mixing Plant Market
- Global asphalt mixing plant market is poised to create an absolute $ opportunity of more than US$ 585 million by the end of the forecast period (2020 – 2030). In the year 2019, it was valued at US$ 1.9 billion.
- Stationary asphalt mixing plant segment is anticipated to accumulate the majority share in terms of value, expanding at a CAGR of 3.1% during the forecast period.
- Drum asphalt mixing plant segment is projected to grow at volume CAGR of 2.1% to create absolute $ opportunity of more than US$ 330 million. It is expected to gain 106 BPS into its market share by the end of forecast period.
- Asphalt mixing plants with production capacity between 50 and 150 TPH (tonnes per hour) are expected to hold around 30% of the market share in terms of value and is projected to grow by 1.2X more than asphalt mixing plant with production capacity above 300 TPH.
- Asia Pacific is projected to create an absolute $ opportunity of around US$ 230 million and is expected to hold more than 32% share in terms of value in the global asphalt mixing plant market by the end of the forecast period.
"Global asphalt mixing plant market is primarily driven by growing demand of transportation facilities in developing economies. Manufacturers are focusing on developing asphalt mixing plants with additional features in order to increase customer base" says a Fact.MR analyst.
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New Product Launches to Remain Trump Card for Market Expansion
The global asphalt mixing plant market is subject to technological advancements as requirements of customers vary from one project to another. Therefore, manufacturers are focusing on continuous development of its products. For instance, in March 2018, one of the leading asphalt mixing plant manufacturers Wirtgen Group launched iNOVA 2000 a portable asphalt mixing plant in South Africa.
Positive Demand for Portable & Drum Type Asphalt Mixing Plants to Stimulate Market Growth
Asphalt mixing plants are subjected to continuous structural development as customers prefer to procure customised asphalt mixing plant according to their requirement. Construction companies work on multiple projects in different locations.
Transportation of asphalt from the plant location to the construction site is time consuming and increases overall cost of the project. As a solution, manufacturers have introduced portable asphalt mixing plants which can be easily moved to other locations. In addition, other innovations, such as asphalt mixing plants that can use recycled asphalt up to 100%, has resulted in overall cost reduction of the project.
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Asphalt Mixing Plant Market: Segmentation
FactMR's study has done the segmentation of the asphalt mixing plant market on the basis of product, type, and capacity across 6 major regions.
By Product :
By Type :
- Drum Plant
- Batch Plant
By Capacity :
- Below 50 TPH
- 50-150 TPH
- 151-300 TPH
- Above 300 TPH
By Regions :
- North America
- Latin America
- East Asia
- South Asia Pacific
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More Valuable Insights on Asphalt Mixing Plant Market
Fact.MR, in its new report, offers an unbiased Market Analysis of Asphalt Mixing Plant, Sales and Demand of Asphalt Mixing Plant, analyzing forecast statistics through 2019 and beyond. The study reveals growth projections on the basis of various criteria.
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