Global Asphalt Pavers Market was valued $1.78 Bn in 2020 and is expected to reach $2.26 Bn by 2027, at a CAGR of 3.5% during the forecast period.
Global Asphalt Pavers Market Overview:
The Global Asphalt Pavers market study gives a comprehensive view of the competition, including the market share and company profiles of the major global competitors. The scope of the research includes a full examination of the Global Asphalt Pavers Market, as well as the reasons for variations in the industry's growth between regions.
Market Scope:
Following the completion of market engineering, which included market statistics computations, market size estimations, market forecasts, market breakdown, and data triangulation, extensive primary research was done to gather information and verify and validate important numbers. To undertake market estimating and forecasting for the overall market segments and sub-segments described in this research, top-down and bottom-up tactics, as well as different data triangulation procedures, were often employed throughout the market engineering process. Extensive qualitative and quantitative analysis is performed on all data obtained during the market engineering process in order to provide essential information throughout the report.
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Segmentation:
An asphalt paver is a piece of construction machinery that is used to lay asphalt on sidewalks, parking lots, bridges, and other similar locations. It flattens the asphalt and provides slight compaction until heavy road rollers compress it further. It's commonly referred to as an asphalt paver. While some asphalt pavers are pulled by the dump truck, the majority of these machines are now self-propelled. Growing infrastructure and road development initiatives in developing economies to create smart cities is a major driving force for the global asphalt pavers sector.
With the rising rate of urbanization and the expansion of industrial activities around the world, especially in developing countries. The need for good roads, highways, and bridges is at the top of the government's priority list. APAC region is expected to witness significant growth of xx% during the forecast period. The Indian government has invested Rs. 91,823 Crore (USD 13.14 billion) for road and highway development in the union budget for financial year 2020-21, up from Rs. 83,016 Crore (USD 11.84 billion) in the previous year's budget. In addition, India is primarily focused on expanding its transportation network by aggressively investing in road and rail infrastructure. The country is concentrating on developing its power infrastructure by constructing thermal, nuclear, wind, and solar power plants. Because of the government's emphasis on infrastructure growth, the Indian construction equipment market has the potential to grow significantly. China is concentrating its efforts on developing its western area. In line with this, it has also announced a number of infrastructure projects for Tibet.
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Key Players:
Market leaders are identified by primary and secondary research, and market revenue is calculated using primary and secondary research. The core study included in-depth interviews with key thought leaders and industry experts such as experienced front-line personnel, CEOs, and marketing executives. In-depth interviews with important thought leaders and industry experts, such as experienced front-line personnel, CEOs, and marketing executives, were conducted as part of primary research, while secondary research included a review of the major manufacturers' annual and financial reports. Secondary data is utilized to calculate percentage splits, market shares, growth rates, and global market breakdowns, which are then verified against primary data.
. The biggest players in the Global Asphalt Pavers market are as follows:
• XCMG Construction Machinery Company Ltd
• Sany Heavy Industries Limited
• Fayat Group
• Vogele
• Ammann Group
• Astec Industry
• Wirtgen group
• Sumitomo Fayat Group
• VT L
• Eeboy
• Shantui
• XCMG
Regional Analysis:
Individual market influencing components and changes in market laws impacting current and future market trends are also covered in the Global Asphalt Pavers market analysis regional overview. Current and future trends are studied in order to evaluate the overall market potential and find profitable patterns in order to get a firmer footing. The geographical market evaluation is based on the current environment and anticipated trends.
COVID-19 Impact Analysis on Global Asphalt Pavers Market:
Due to a break in operations, end-user sectors where Global Asphalt Pavers are used suffered a drop in growth from January 2020 to May 2020 in a number of countries, including China, Italy, Germany, the United Kingdom, the United States, and Spain, France, and India. As a result, the revenues of enterprises in these industries fell significantly, as did the demand for Global Asphalt Pavers manufacturers, impacting the growth of the Global Asphalt Pavers market in 2020. Lockdowns and a surge in COVID-19 events globally have severely reduced end-user business demand for Global Asphalt Pavers .
Key Questions Answered in the Global Automatic Turnstile Market Report are:
- In 2021, which segment owned the greatest share of the Global Asphalt Pavers market?
- What is the competitive landscape of the Global Asphalt Pavers market?
- What are the key factors influencing Global Asphalt Pavers market growth?
- In the Global Asphalt Pavers market, which region has the most market share?
- What will be the CAGR of the Global Asphalt Pavers market over the forecast period (2022-2027)?
