According to a Future Market Insights (FMI) report, the global road marking equipment market value totaled US$ 1,347.7 million in 2023. Over the assessment period, global road marking equipment demand is projected to increase at a CAGR of 5.9%, leading to total market valuation reaching US$ 2,382.4 million by 2033.
Truck mounted segment is expected to dominate the road marking equipment industry through 2033. It held a value share of about 80.6% in 2023. On the other hand, the self-propelled segment is forecast to register a CAGR of 5.9% through 2033.
The global market for road marking equipment is significantly influenced by construction spending. Governments worldwide are investing rigorously in developing and expanding public infrastructure, including roads, airports, etc. This will eventually uplift demand for road marking equipment.
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Road markings will remain critical for all types of guidance systems, including autonomous vehicles. As autonomous cars interact directly with road markings, effective marking installation and maintenance techniques are critical.
The new digital infrastructure recreates virtual roadways, complete with modern automobiles. Tesla introduced Autopilot capabilities in 2019 that aid in steering within a clearly marked lane. It also includes auto-lane change technology, which aids in switching to a neighboring lane on the highway when Autosteer is used. Such developments will benefit the target market.
Rapid expansion of the aviation sector is another key factor expected to create growth prospects for road marking equipment manufacturers. This is because the aviation sector is witnessing the high adoption of truck-mounted and self-propelled road-marking machines owing to their high functionality and quick operation.
Customers tend towards machines that can be used for marking with multiple coating materials. For example, STiM’s Kontur 400, which can be used for marking with various materials like paint, thermoplastic, and cold-applied plastic, is gaining popularity among customers.
Rise in sporting activities is set to boost the sales of road marking equipment market in the forecast period. This is because these machines are widely used for creating markings in stadiums and other sports facilities.
Key Takeaways from the Report:
- The global market for road marking equipment is projected to thrive at 9% CAGR through 2033.
- By product type, truck mounted segment is expected to total a valuation of US$ 1,922.7 million by 2033.
- By application, the road marking segment is set to hold a market share of 6% in 2023.
- North America is expected to account for a significant share of about 1% in 2033.
- The United States industry value is anticipated to reach US$ 646.8 million by 2033.
- China is projected to attain a valuation of US$ 286.5 million by 2033.
- Demand in India is predicted to rise at 2% CAGR through 2033.
Competitive Landscape:
Leading manufacturers of road marking equipment profiled in the full version of the report are –
- Graco Inc.
- M-B Companies
- Vogel Traffic Services
- Hofmann
- MRL Equipment Co.
- BORUM A/S
- STiM
- Nanjing Roadsky Traffic Facility Co., Ltd.
- Toyo Nainenki Kogyosha Co., Ltd.
- CMC s.r.l
- Sibestar s.r.l
- ROCOL
- Winter Markiertechnik GmbH
- RME
- Larius S.R.L
- United Pavement Marking, Inc.
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The companies are mainly focusing on introducing new advanced road marking solutions to boost their sales. They also use strategies like mergers, collaborations, exhibitions, and partnerships to stay ahead of the competition.
Recent Developments:
- In Feb 2020, Hofmann launched new road marking equipment, including the Road Marking Machine H10-2.
Road Marking Equipment Market Segmentation Analysis:
By Type:
- Manual
- Self-propelled
- Truck Mounted
By Capacity:
- Below 100 L
- 101 to 250 L
- 251 to 500 L
- 501 to 750 L
- Above 750 L
By Technology:
- Airless
- Airspray
- Thermoplastic Airspray
By Application:
- Road Markings
- Parking Lots
- Anti-skid Markings
- Others
By End Use:
- Road Construction Contractors
- Government
- Private
- Construction Companies
- Airports
- Sports Infrastructures
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- East Asia
- South Asia & Pacific
- Middle East & Africa
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