Asphalt Paver Market

Asphalt Paver Market By Paver Type (Tracked, Wheeled), By Screed Technology (Mechanical, Hydrostatic), By Paving Width (<1.5m, 1.5-2.5m), By Operating Weight (5k-8k KG, 8k-12k KG) & By Region - Global Market Insights 2022-2032

Analysis of Asphalt Paver market covering 30 + countries including analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more

High Investment in Road Construction Activity Paved the Way for Asphalt Pavers

The global asphalt paver market reaches a valuation of US$ 1,211.2 million by the end of 2022 and is expected to progress at a CAGR of 3.7% to reach US$ 1,738.6 million by the end of 2032.

Sales of asphalt paver accounted for nearly 1% share of the global road construction equipment market at the end of 2022.

Report Attributes

Details

Asphalt Paver Market Size (2021A)

US$ 1,166.7 million

Estimated Market Value (2022E)

US$ 1,211.2 million

Forecasted Market Value (2032F)

US$ 1,738.6 million

Global Market Growth Rate (2022-2032)

3.7% CAGR

North America Market Share (2022)

27.5%

North America Market Value (2022)

US$ 333.6 million

Europe Market Share (2022)

26.1%

Europe Market Value (2022)

US$ 316.6 million

China Market Share (2022)

24.3%

China Market Value (2022)

US$ 294.7 million

Market Share of Top 3 Countries

54.1%

Key Companies Profiled

  • Ammann Schweiz AG
  • Astec Industries, Inc
  • Caterpillar Inc
  • Fayat Group
  • King Machinery
  • Macropaver
  • Mauldin Paving Products
  • Miller Formless Co.
  • Shantui Construction Machinery Co
  • Sumitomo Heavy Industries, Ltd
  • Volvo Construction Equipment

Know thy Competitors

Competitive landscape highlights only certain players
Complete list available upon request

Sales Analysis of Asphalt Paver (2017-2021) Vs. Market Outlook (2022-2032)

Global infrastructure expansion and rising maintenance costs for roads and highways have given the asphalt paver market enough room to expand. Growing road traffic will necessitate ongoing road building and improvement in both urban and rural regions, which will ultimately drive the expansion of the global asphalt paver market during the forecast period.

Despite the fact that, since its innovation and development, asphalt paver have emerged to provide enhanced features in the equipment. The manufacture of asphalt paver is being influenced by a variety of advances and trends that the asphalt paving equipment sector is currently observing.

Market participants concurred that the move toward electrically heated screeds may have the greatest impact on the production of pavers. With a focus on fuel saving becoming more and more important, electric screeds became popular. The use of diesel fuels and the resultant fumes are eliminated by electric screeds.

A roadmap for the asphalt paver becomes more important in order to develop the cities into smart cities.

  • Short Term (2022 to 2025): Rising infrastructural projects will positively impact asphalt paver market growth.
  • Medium Term (2025-2028): United States and South Asia & Oceania projected to witness comparatively high asphalt paver demand due to building smart cities.
  • Long Term (2028-2032): By focusing on increase presence in developing countries through merger and acquisitions can help in market establishment and increase the demand for asphalt paver.

From 2017 to 2021, the global market for asphalt paver registered a CAGR of 3.3% Fact.MR, a market research and competitive intelligence provider, reveals that the market will exhibit growth at 3.7% CAGR between 2022 and 2032.

Asphalt paver market forecast by Fact.MR

Market share analysis of asphalt paver based on operating weight and region is provided in the above image. Under the operating weight segment, the 12k-15k KG sub-segment dominates with 35.1% market share in 2022.

What’s Driving High Demand for Asphalt Paver across Regions?

Developments in Road Infrastructures to Gain the Demand for Asphalt Paver

Transportation infrastructure plays an important role in development of economies as it primarily controls imports and exports sector of every market. Global transformation of infrastructure industry is changing the appearance of developed as well as developing countries. In developing countries, big infrastructure projects are in progress, notably for the construction of roads, railways, bridges, and ports, with the aim to strengthen the transportation backbone.

Asphalt paver are extensively utilized in road construction activities for making the paved surface, compact & improve the density along with the application of asphalt. Availability of different types of asphalt paver enable construction work to progress smoothly even on smaller roads of developing countries. Thus, developments in road infrastructure are likely to increase the demand for asphalt paver, notably in developing countries.

Growing Demand for Energy-efficient Construction Equipment

Construction companies across the globe are increasingly focusing on sustainable development of projects for acquiring certifications apropos to energy efficiency. As these certifications need construction industries to reduce their pollution and emission footprint during the overall project lifecycle, manufacturers are shifting their focus toward the development of user-friendly, energy-efficient, and low-emission construction equipment, and to this, asphalt paver are no exception.

Key manufacturers are introducing upgraded asphalt paver models with extended variety of features for end-users along with a high performance level. Construction equipment manufacturers are increasingly taking efforts for developing energy-efficient asphalt paver ideal for multiple tasks such as road construction, dam construction, residential construction & land maintenance.

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What Do Asphalt Paver Manufacturers Need to Watch Out for?

High Cost of Maintenance and Lack of Skilled Labour to Hinder Adoption” 

Design of asphalt paver has continuously evolved with changing consumer requirements. However, improving equipment design requires heavy investments, which leads to greater expenditure, making the equipment more expensive. Therefore, manufacturers face the challenge of making their product cost-effective while improving efficiency and productivity.

At the same time, technologically advanced in asphalt paver with wider ranges of electronic features require professional operators who need to be adequately trained. Inappropriate handling may lead to severe accidents. Operational and safety programs are mandatory for operators. Lack of skilled operators to operate such equipment is hampering their adoption, particularly in developing countries

Country-wise Insights

How China can drive the Demand for Asphalt Paver market?

China increased their spending in road construction and maintenance, the figures stated that there is 13.1% jump in road building from January 2022 to June 2022. The increasing government spending for better safety and making developed cities.

Asian nations are developing markets for the mining, infrastructure, building, and construction sectors. The market for asphalt paver is anticipated to develop as the road construction is increasing. Furthermore, the region will have tremendous growth potential thanks to the region's expanding urbanization and rising construction activity. Thus, China asphalt paver market is expected to reach US$ 294.7 million by 2022.

Why is the Saudi Arabia Asphalt Paver Market Expected to Be Highly Lucrative?

The demand for asphalt in Saudi Arabia is anticipated to be driven by rising demand for recycled asphalt and rising public and private sector spending on infrastructure development and road building.

As it combines crushed stone and aggregates into strong and concrete surfaces like roads and pavements, this Saudi Arabia asphalt is largely utilized in building roads, parking lots, and driveways.

Asphalt can be recycled and greatly used in Saudi Arabia market. It is one of the materials in the construction sector that is recycled the most. The recycled asphalt mixture is also more rut-resistant, stronger, and long-lasting. Recycled goods function better as a result.

Due to its recycling properties and the increasing construction demand in Saudi Arabia asphalt paver will be highly lucrative in future. Hence, GCC Countries will show immense growth and reach a market valuation of US$ 9.6 million in 2022.

Category-wise Insights

Why is Growth of Track Paver Being Highly lucrative in Asphalt Paver market?

Compact track pavers hold the biggest market share in the market for asphalt paver and are the most popular category. Due to their grip and resilience, tracked pavers are typically preferable over wheels on softer ground. These devices provide more stability and can typically turn in a smaller space than a wheeled paver. Because their weight is dispersed over a wider area and less likely to damage the base, track pavers perform best in subbase situations.

The truck has a tendency to push away when mix is thrown back at an angle into the paver's hopper, so the driver must apply braking pressure to maintain engagement. With a track paver, the truck's weight and the material's weight are all supported by the tracks. Automation in construction machinery is becoming more widely used, which has increased demand for high-tech attachment tools that save operating costs and improve worker safety.

Owing to the above facts, the compact track paver sub-segment of the asphalt paver market is predicted to grow at a value of US$ 933.0 million by the end of 2022.

What is the Market scope for Hydrostatic Screed Technology in Asphalt Screed Technology Segment?

Hydrostatic screed has greater demand in the market due its prominent features involved. The hydrostatic screed paver has a number of characteristics that promote efficiency, quality, and ease of use. Among them are a hydraulically extendible screed with vibration and tamping, premium feature sensors, fingertip controls and a swinging console. Greater stability on challenging terrain is provided by double axle designs, which exhibit zero flex even at the widest pavement width.

The hydrostatic screed technology segment dominated the market in terms of value in 2021. With a historical CAGR of 3.3%, and projected value by 2032 is US$ 1,282.4 million the hydrostatic screed sector will capture almost 70% of the asphalt paver market.

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Competitive Landscape

There are several local and regional companies in the market for asphalt paver, which is fragmented in nature. Among the participants are Ammann Schweiz AG, Astec Industries. Inc, Caterpillar Inc, Fayat Group, King Machinery, Macropaver, Mauldin Paving Products, Miller Formless Co., Shantui Construction Machinery Co, Sumitomo Heavy Industries, Ltd, Volvo Construction Equipment, VT Leeboy Inc, Wirtgen Group (Deere & Company), XCMG Construction Machinery Co., Ltd, Zoomlion Heavy Industry Science & Technology Co. Ltd. To acquire a competitive edge, market participants are concentrating on enlarging their footprints through alliances and acquisitions in emerging market regions.

Fact.MR has provided detailed information about the price points of key manufacturers of asphalt paver positioned across regions, sales growth, production capacity, and speculative technological expansion, in the recently published report.

Segmentation of Asphalt Paver Industry Research

  • By Paver Type:

    • Track Paver
    • Wheel Paver
  • By Screed Technology:

    • Hydrostatic
    • Mechanical
  • By Operating Weight:

    • 5k-8k KG
    • 8k-12k KG
    • 12k-15K KG
    • >15K KG
  • By Paving Width:

    • <1.5m
    • 1.5-2.5m
    • 2.5-5m
    • >5m
  • By Region:

    • North Americas
    • Latin America
    • Europe
    • East Asia
    • South Asia
    • Oceania
    • Middle East & Africa

- FAQs -

What is the global asphalt paver market size?

The global asphalt paver market is currently valued at US$ 1,211.2 million in 2022.

How is the market for asphalt paver expected to fare in the future?

Worldwide demand for asphalt paver is anticipated to reach US$ 1,738.6 million by 2032-end.

How did the market perform over the past few years?

During 2017-2021, sales of asphalt paver increased at 3.3% CAGR.

Which regional market accounts for a leading market share?

East Asia leads the global asphalt paver market accounting for 33.5% market share in 2022.

Which asphalt paver type holds the highest market share?

Track paver for 71.5% share of the global market in 2022.