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Portable Asphalt Mixing Plants Market is expected to grow at a CAGR of 1.5% by 2024

Author : Rahul Varpe | Published Date : 2019-06-21 

Global Asphalt Mixing Plants Market Forecast to 2023 released By Global Market Insights provides Market information about industry Top Key Players, Countries, Type and Application. This Asphalt Mixing Plants report also states Company Profile, sales, Asphalt Mixing Plants Market revenue and price, market share, market growth and gross margin by regions, Strategic recommendations for the new entrants, Market forecasts for a minimum of five years of all the mentioned segments, sub segments and the regional markets.

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. Additionally, market growth will also be attributed to globally rising production of asphalt in North America and Europe.

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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 asphalt mixing plants market over forecast period.

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
  • Kredmash Inc.

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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. Asphalt Mixing Plants Market size is projected to exceed USD 7 billion; according to a new research report by Global Market Insights, Inc.

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.

Asphalt mixing process will lead to certain environmental threats in the forecast period. Asphalt mixing plants market growth is subjected to the challenge of undesirable emissions including aromatic hydrocarbons, volatile organic compounds and particulate. However, to overcome this challenge the industry participants have been striving to achieve workable green technology solutions. The industry will be monitored by severe protocols regarding usage and quality asphalt mixing plants, formulated by NAPA, EAPA, Association of Asphalt Paving Technology and other associations.

 

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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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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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