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Asphalt Mixing Plants Market is expected to grab lucrative growth avenues by 2024

Author : Rahul Varpe | Published Date : 2019-08-26 

The developing countries with immense growth opportunities are expected to become significant hotspots for investment. Interestingly, asphalt mixing plants market players are looking to tap the growing demand by launching innovative products with competitive technical properties. One such example is of the 2013’s collaboration of Ammann Research & Development Center with Apollo India Private Ltd, to innovate and manufacture asphalt pavers, soil compactors and asphalt mixing plants.

Many asphalt mixing plants market players are adopting the sustainable green technology and environment friendly raw materials to combat the pollution problems associated with asphalt mixing plants. This is set to create huge growth opportunities for the industry players to develop sustainable and eco-friendly materials with regards to asphalt mixing and grab lucrative growth avenues over the coming years. One such instance is of Local Self-Government Department of Thiruvananthapuram, India. In a move to adopt green technology, the LSGD used an emulsion-based mix in asphalt instead of hot bitumen for the construction of road.

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Globally, asphalt mixing plants market is set to witness a remarkable growth trajectory with a CAGR estimation of 1.4% and exceed revenue generation of USD 7 billion by 2024.

The key trends in asphalt mixing plants market is the refinement of recycled asphalt pavement (RAP). The market for asphalt plant equipment with RAP are gaining considerable traction in the US and Europe, with China being on wild card. The asphalt mixing plants industry players are designing new plants to produce higher quality output and handle the higher percentages of RAP.

Governments of various Asian countries including China, Malaysia, Thailand, India, and Japan are financing huge amount of capital to develop road infrastructure as they act as catalyst to country’s development and economic growth. In 2016, Asia Pacific asphalt mixing plants market generated revenue over USD 2.5 billion and is foreseen to hold a major share of the market pie over the coming years. Owing to the robust growth in the countries of Asia Pacific and Latin America, asphalt mixing plants industry from road construction application generated revenue over USD 5.5 billion in 2016.

Asphalt mixing plants market by product:

  • Portable
  • Stationary

Asphalt mixing plants industry by application:

  • Road construction
  • Others

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Strong growth outlook in the civil construction industry has charted a profitable roadmap for asphalt mixing plants market over the coming years. The spurt in demand for asphalt is being significantly driven by the repair and construction segment, that builds the world’s asphalt driveways, tunnels, highways, bridges, and airport runways. The importance of good highways for the infrastructural development has strongly agitated the growth of asphalt mixing plants industry in several countries. In fact, speaking on statistical terms, more than 70% of the overall asphalt production is utilized for road developments across the globe.

Key market share contributors operational in asphalt mixing plants market are AMMANN, Marini, Benninghoven GmbH, ASTEC Industries, Sany Group, Nikko Limited and Kredmash. Other major companies functional in product market are Lintec, NFLG Inc., Cesan, Speedcrafts, DELTA Group and SPECO.

The harmful gases and volatile organic compounds emitted from the asphalt mixing plants pose a major threat to the growth of this industry. The environment threats pertaining to asphalt components and its quality and usage are being strongly monitored by the agencies such as EAPA, NAPA, and Association of Asphalt Paving Technology, which may hamper the asphalt mixing plants market expansion.

Related News: https://www.marketwatch.com/press-release/helical-screw-blowers-market-2019---2024-regional-insights-growth-forecast-2019-08-26

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About Author

Rahul Varpe

Rahul Varpe

Rahul Varpe currently writes for fractovia. 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 online. Apart from being an avid reader, his other hobbies include music and sketching. He can be contacted at- [email protected] | https://twitter.com/varperahul

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