Asphalt Mixing Plants Market Report to 2024 | Development Trends and Revenue Forecast
Category: #headlines  By Rahul Varpe  Date: 2020-07-02
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Asphalt Mixing Plants Market Report to 2024 | Development Trends and Revenue Forecast

Growing preference to asphalt in road construction industry will be a major factor propelling the asphalt mixing plants market by 2024. For instance, in 2016, 85% of the total asphalt produced was used for road surfaces and pavements in the U.S. In Europe, over 90% of the 5.2 million km of paved roads and highways have been surfaced with asphalt.

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Asphalt Mixing Plants Market size is projected to exceed USD 7 billion; according to a new research report.

Asphalt mixing plants have been used in highways, bridges, tunnels and other road construction. The thriving automobile sector in Asia Pacific, has been driving the demand for stronger and long-lasting roads, which in turn will intensify regional restoration projects and road construction. Additionally, asphalt mixing plants market growth will also be attributed to globally rising production of asphalt in North America and Europe.

Asphalt Mixing Plants Market Growth Drivers: -

  1. Increasing road construction activities in Asia Pacific
  2. Increasing asphalt production globally

Some of the asphalt mixing plants market share contributors are: -

Ammann Group Holding AG, Speedcrafts Limited, NIKKO Co., Ltd, DMI Engineering & Manufacturing Co. Ltd, GP Gunter Papenburg AG, SPECO Ltd, Benninghoven GmbH & Co., KG, Marini S.p.A, ASTEC Industries Inc., Beston (Henan) Machinery Company Limited, Parker Plant Limited, LINTEC Germany GmbH, NFLG, Inc., Capious Roadtech Pvt. Ltd., Atlas Industries, Zoomlion Heavy Industry Science & Technology Co., Kaushik Engineering Works, SANY Group, CIBER., and Kredmash Inc.

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Asphalt mixing plants market by application: -

  1. Road construction.
  2. Others

Asphalt mixing plants market by product: -

  1. Portable
  2. Stationary

Considering the product trends, portable asphalt mixing plants are expected to grow at CAGR over 1.5% by 2024. The growth will be ascribed to the compact structure and the convenience involved with mounting capabilities in the vicinity of the construction sites. In 2016, stationary asphalt mixing plants observed revenue over USD 5.9 billion. This segment features promising gains in the coming years owing to stable operational capability, supple equipment options in addition to the vast production capacities as equated to portable plants.

In 2016, the market was led by batch type asphalt mixing plants owing to the advantages involved such as low spare parts cost, low running cost etc. In the same year, this segment contributed to the revenue over USD 3.8 billion and is expected to follow the same trend in the near future. The continuous plants will likely witness gains of CAGR over 1.3% by 2024. This segment holds involve the benefits of low fuel consumption, enhanced hot mix asphalt quality and will observe significant growth potential in the forecast period.

 

 

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About Author

Rahul Varpe

Rahul Varpe    

Rahul Varpe currently writes for Technology Magazine. A communication Engineering graduate by education, Rahul started his journey in as a freelancer writer along with regular jobs. Rahul has a prior experience in writing as well as marketing of services and products ...

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