The global asphalt pavers market size was valued at USD 1.5 billion in 2017. The global asphalt pavers market is expected to grow owing to the increased demand for maintenance of roads for safety reasons in order to avoid mishaps.
The asphalt paver is a self-sustained construction equipment entailing a tractor and a moving screed which is used to pave roads using hot mix asphalt. In the paving process, the pavers deliver hot mix asphalt and is loaded into the hopper. It is then outspread uniformly over the roads and an asphalt roller is used for compaction to the desired density. Asphalt pavers differ according to their operating weight and are classified as Highway Class Pavers and Commercial Class Pavers. The highway class pavers mainly categorized by its manufacturing as the tractor and the screed are manufactured independently whereas commercial class pavers are used to construct and reorient walkways, driveways and other outdoor platforms.
The value of the Asphalt Pavers market is projected to grow to US$ 3 Billion with an estimated CAGR of 5% by 2032
Large sized width pavers were the most widely used type of asphalt pavers across the globe in 2017. These pavers generated revenues worth USD 610 million in the same year due to its penetration across the automotive and transportation sector. Over the next eight years, the usage of large sized pavers is set to significantly increase due to its increase in infrastructural growth and need for huge residential buildings with the growing population. The emerging economies of the developing countries is expected to compound the market growth of this asphalt pavers market.
The asphalt pavers are more often used over the highway construction owing to the frequent movement of trucks and other huge vehicles. The highway roads makes up for a 46.2% of the total revenue generating a revenue of USD 720.3 million. Followed by the urban roads wherein there is not much maintenance needed for the roads as compared to that of the highway roads. The asphalt paver manufacturers are upgrading these machines owing to the requirements of the construction for instance small size width pavers may reduce the manufacturing costs but results in more hard work and less efficiency. However, the manufacturers are extending these small and medium sized pavers with new features to increase the paver’s usability.
Division of the global market into five major continents show that North America was at the leading position generating revenues of USD 457.6 million followed by Asia Pacific in 2017 making up for 23.6% of the total market share. The penetration of asphalt pavers in the region has moved to its peak, thereby, witnessing scope for high growth. However, opportunities for further development of the market are being created in the form of increasing more efficient way of operations for small and mid-size width pavers.
Asphalt Pavers Market Scope
|Revenue forecast in 2032
|US$ 3 Billion
|CAGR of 5 % during 2022-2032
|By Technology, Product Type, Working Width, Regions
|North America, Europe, Asia Pacific, South America, Middle East and Africa
|Key Players Profiled
|Volvo CE, Caterpillar Inc., Weiler, Zoomlion Company Limited, Dynapac, Bomag GmbH, XCMG Construction Machinery Company Ltd, and Sany Heavy Industries Limited.
Key segments of the global asphalt pavers market
Type Overview (USD Billion)
- Small sized paving width
- Medium sized paving width
- Large sized paving width
Application Overview, (USD Billion)
- Urban Roads
Regional Overview, (USD Billion)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of MEA