The global asphalt mixing plants market is anticipated to garner US$ 5.2 billion while expanding at a CAGR of 2.8% during the forecast period 2023-2033. The market is estimated at US$ 4.6 billion in 2023. The increasing road construction activities coupled with growing infrastructural development in countries are likely to propel industry growth.
Increasing asphalt production across the globe is a prime factor that will drive market demand. Countries, including India, Vietnam, and the Philippines, will be investing heavily in road construction & improvements in the coming decades to enhance their ranking.
Over the past few years, tremendous growth in urban centers was witnessed as people moved from the countryside to cities to live and work. Increased disposable incomes will drive up private vehicle ownership, placing greater demands on roads and eventually augmenting road construction projects, particularly in China and India. Portable product type to gain the majority share owing to the increasing necessity for cost-effective and easily transportable construction equipment.
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Key Takeaways:
- By Product type, the portable product segment of the Asphalt Mixing Plants segment expanded at a ~2% CAGR
- Based on Application, the road construction segment of Asphalt Mixing Plants is estimated to record an ~2% CAGR
- APAC region is likely to account for the majority share of nearly 2.3% during the forecast period
- Europe region is estimated to gain significant traction in the market for Asphalt Mixing Plants, Germany is likely to hold the majority share.
“Constructers have been investing a lot of time and money in fostering new asphalt plant solutions to cater to important industry requirements, thus in turn, to fuel the market growth of asphalt mixing plants”.
Competitive Landscape
Key players in the global Asphalt Mixing Plants market include Speco Limited, Nikko Co. Ltd., Ammann Group Holding AG, GP Gunter Papenburg AG, Lintec & Linnhoff Germany GmbH., among others. Recent key developments among players are:
- In Aug 2022, Construction Partners, Inc. ROAD (the Company), a vertically integrated civil infrastructure company specializing in the construction and maintenance of roadways across five southeastern states, announced the acquisition of Southern Asphalt, Inc., headquartered in Conway, South Carolina. As a result of the acquisition, the Company added two hot-mix asphalt plants and more than 200 employees in the Myrtle Beach, South Carolina metro area.
- In Aug 2021, Berkshire Engineering Supplies (BES) and R&G Cooper (RGC) joined forces to create Bulldog Plant & Equipment Ltd, which is said to be the only business of its kind in Britain and is set to become the number one provider of large-scale production plants in the construction materials, engineering, and energy sectors.
- In March 2022, Astec Industries agreed to acquire MINDS Automation Group (MINDS). The firm is a leader in plant automation control systems and cloud-based data management in the asphalt industry.
More Valuable Insights
Future Market Insights, in its new offering, presents an unbiased analysis of the Global Asphalt Mixing Plants market presenting a historical analysis from 2017 to 2021 and forecast statistics for the period of 2022-2032.
The study reveals essential insights based on Asphalt Mixing Plants Market by Process (Batch, Continuous) by Product (Portable, Stationary) by Application (Road Construction, Others) by Capacity (Below 50T/H, 50-150T/H, 151-300T/H, Above 300T/H) & Region (North America, Europe, East Asia, South Asia, Oceania and Middle East & Africa, and Latin America)
Global asphalt mixing plant market is highly consolidated and competitive in nature. Ammam Goup is the market leader with around 17% market share followed by FAYAT Group & Astec Industries Inc. which account for around 15% & 11% market shares respectively.
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Key Segments Covered In The Asphalt Mixing Plants Industry Analysis
Asphalt Mixing Plants Market by Process:
- Asphalt Mixing in Batches
- Continuous Asphalt Mixing
Asphalt Mixing Plants Market by Product:
- Portable Asphalt Mixing Plants
- Stationary Asphalt Mixing Plants
Asphalt Mixing Plants Market by Application:
- Asphalt Mixing Plants for Road Construction
- Others
Asphalt Mixing Plants Market by Capacity:
- Below 50T/H Asphalt Mixing Plants
- 50-150T/H Asphalt Mixing Plants
- 151-300T/H Asphalt Mixing Plants
- Above 300T/H Asphalt Mixing Plants
By Region:
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East and Africa
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Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization, and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel, and End Use over the next 10 years.
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