The global asphalt mixing plants market is anticipated to reach a value of USD 4.6 billion in 2023. The rise in road construction activities, along with expanding infrastructure development in various countries, is expected to drive industry growth. Overall demand for asphalt mixing plants is projected to grow at a CAGR of 2.8% from 2023 to 2033, ultimately totaling approximately USD 5.2 billion by 2033.
A significant factor fueling market demand is the rising production of asphalt worldwide. Countries like India, Vietnam, and the Philippines are anticipated to make substantial investments in road construction and upgrades in the coming years to enhance their standings.
Recent years have seen considerable growth in urban areas as people relocate from rural regions to cities for work and living opportunities. Rising disposable incomes will lead to increased private vehicle ownership, thereby placing greater demands on road networks and boosting road construction projects, particularly in China and India. The portable product segment is expected to capture the largest market share due to the growing need for cost-effective and easily transportable construction equipment.
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 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.
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 Industriesagreed 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.
Key Segments Covered In the Asphalt Mixing Plants Industry Analysis
By Process:
- Asphalt Mixing in Batches
- Continuous Asphalt Mixing
By Product:
- Portable Asphalt Mixing Plants
- Stationary Asphalt Mixing Plants
By Application:
- Asphalt Mixing Plants for Road Construction
- Others
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 Asphalt Mixing Plants Market
- Latin America Asphalt Mixing Plants Market
- Europe Asphalt Mixing Plants Market
- East Asia Asphalt Mixing Plants Market
- South Asia Asphalt Mixing Plants Market
- Oceania Asphalt Mixing Plants Market
- Middle East & Africa Asphalt Mixing Plants Market
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