Global Asphalt Plant Market is valued at approximately USD 2.05 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 2.0% over the forecast period 2020-2027. Asphalt is an essential concrete used in construction of roads, railway tracks, parking areas, ports, sidewalks and others. The material is usually made of various mixtures of aggregates such as binder and filler which is efficiently produced with the help of asphalt plants (machineries and equipment). Thus, manufacturers requiring an asphalt plant, which is a sort of machinery that is can produce hot mix asphalt (HMA). It uses aggregates, bitumen, sand, and filler material in specific proportion to manufacture HMA, also known as asphalt concrete or blacktop. Preference towards the adoption of the asphalt plant is growing since it is the ideal development hardware used in road development and other construction ventures, as it provides lower installation costs and can be easily ported at construction sites. Therefore, this factor may strengthen the adoption for asphalt plant market across the globe. Moreover, the rise in infrastructural construction projects, along with the growing crude oil production around the world are the few factors responsible for the CAGR of the market during the forecast period. According to the Institution of Civil Engineer (ICE) has forecasted that the volume of construction output would grow by 85% to USD 15.5 trillion worldwide by 2030. This growth is mainly driven by three countries: China, India and the United States by contributing 57% share to the growth of the construction sector worldwide. This, in turn, is likely to strengthen the demand for Asphalt Plant, thereby contributing to the market growth around the world. However, the growing health concerns due to the emission exposure from asphalt plant is one of the factors that restraining the market growth over the forecast period of 2020-2027.
The regional analysis of the global Asphalt Plant market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America, and Rest of the World. Asia-Pacific is the leading/significant region across the world in terms of market share owing to the rising road construction activities, along with the significant presence of market vendors in the region. Whereas Asia-Pacific is also anticipated to exhibit the highest growth rate / CAGR over the forecast period 2020-2027, owing to the government support for infrastructural activities in the developing nations, such as China and India.
Major market player included in this report are:
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2017, 2018
Base year – 2019
Forecast period – 2020 to 2027
Target Audience of the Global Asphalt Plant Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers