Global asphalt plant market is anticipated to witness exponential growth in the forecast period. An asphalt plant is used to produce macadam, asphalt, and the other forms of coated roadstone, together known as “Asphalt Concrete” or “Blacktop”. In other words, it is a machine designed to produce hot mixed asphalt. They are mainly of two types drum and batch, which produce the same vital mix but through different procedures.
Factors such as cost efficiency, development of the roadways sector in emerging economies, steady operational ability stationary asphalt plant, and vendors increasing their investment in this market are likely to drive the asphalt plant market in the forthcoming period.
On the other hand, toxic emission by these plants may lead to the deterioration of public health and environment; and, in turn, hinder market growth in the future. However, rising commercial and passenger vehicles sales across the globe subsequently increase in road construction and repair activities are likely to create lucrative opportunities for the market. Asphalt plant market is anticipated to expand at a significant CAGR in the upcoming period as the scope, product types, and its applications are increasing across the globe.
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Asphalt plant market could be explored by product type, application, sale channel, and geography. Market by product type could span 3000-4000 Ton, Below 3000 Ton and Above 4000 Ton. The key applications in the market include Road Construction and Other Application. The market based on sale channel constitute Direct Sales and Distribution Sales. The “Direct Sales” segment accounted for a prominent share in the market. It is likely to witness substantial growth in the years to come.
Asia-Pacific is a leading region in the market. It is likely to maintain its dominance in the forecast period owing to factors such as increasing demand from end-user industry, largely concentrating on road construction activities, as these act as catalysts to country’s economic growth. Asia-Pacific is followed by North America and Europe owing to vast capital investments from governments of Mexico and Brazil for improving the infrastructural scenario in this region.
Key players operating in the asphalt plant market include Ammann, MARINI, Nikko, Lintec, Tietuo Machinery, Sany, Roady, XRMC, GP Günter Papen burg, Astec, Yalong, Luda, Liaoyang Road Building Machinery, Tanaka Iron Works, Xinhai, Huatong Kinetics, SPECO, Southeast Construction Machinery, NFLG, Jilin Road Construction Machinery, Yima, D&G Machinery, Zoomlion, Hongda and XCMG. The leading companies are taking up partnerships, mergers and acquisitions, and joint ventures in order to boost the inorganic growth of the industry.
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