Asphalt Mixing Plant Market to be worth $288.04 Billion by 2032

Booming Constriction and infrastructure Industry across the Global Opening Pandora Box for Asphalt Mixing Plant Market

Rockville , May 22, 2023 (GLOBE NEWSWIRE) -- According to Fact.MR, over the projection period of 2022–2032, the global asphalt mixing plant market is anticipated to grow at a value CAGR of 3.1% and present an absolute dollar opportunity of US$ 707.4 million. By the end of 2022, it is anticipated to attain a market valuation of US$ 1,878.9 million.

Due to the rising industrialization and urbanization, the road building sector is seeing a major growth. As a result, there is a growing need for suitable construction equipment, particularly in emerging markets like China, India, and Brazil. In order to assist the economic development of these nations, governments are devoting enormous amounts on road and highway infrastructure.

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International demand for asphalt plants has increased as a result of rising infrastructure expenditure. The growing urbanisation of developing nations like China, India, and the ASEAN nations would also increase the need for construction equipment in the coming years. Asia is therefore anticipated to be a key market for manufacturers of asphalt plants.

Although the asphalt plant market is moderately concentrated, with a small number of major companies controlling the majority of the industry, new opportunities for manufacturers are likely to emerge in the coming years. The market has grown as a result of developing nations' rising investments in public infrastructure. The ability to employ up to 100% recycled asphalt is one breakthrough in asphalt plants that has gained popularity.

Key Takeaways from Market Study

The global asphalt mixing plant market is projected to grow 3.1 % and reach US$ 2,548.7 m illion by 2032.

The market witnessed (0.1) % CAGR between 2017 and 2021.

The batch asphalt mixing plant dominate the market with US$ 1, 073 m illion valuations in 2022.

East Asia dominated the market with 30.7 % market share in 2022.

The 50-150 TPH plant is likely to represent 29 .1 % market share in 2022.

Based on region, demand for asphalt mixing plant is expected to increase at Y-O-Y growth of 1.3 % and 2.3 %, respectively, in North America and East Asia in 2022.

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" Recycled Asphalt creating lots of opportunities for already established asphalt mixing plant market " says a Fact.MR analyst.

Market Development

Key players in the asphalt mixing plant market include Astec Industries Inc., Gencor Industries, Inc., NIKKO Co., Ltd, FAYAT Group, Aimix Group, Ammann Group, Asphalt Drum Mixers, Inc., Benninghoven GmbH & Co. KG, NFLG Inc., Sany Group, Gongyi Santai Machinery Co., Ltd. And other prominent players. Technological developments are a factor in the global market for asphalt mixing plants since client demands change from project to project. Manufacturers are concentrating on the ongoing improvement of their products as a result.

Segmentation of Asphalt Mixing Plant Industry Research Report

By Product :

Stationary

Portable

By Type :

Drum Plant

Batch Plant

By Capacity :

Below 50 TPH

50-150 TPH

151-300 TPH

Above 300 TPH

By Region :

North Americas

Latin America

Europe

East Asia

South Asia & Oceania

Middle East & Africa

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Fact.MR, in its new offering, presents an unbiased analysis of the global asphalt mixing plant market, presenting historical market data 2017-2021 and forecast statistics for the period of 2022-2032.

The study reveals essential insights on the basis of by product (stationary, portable), by type (drum plant, batch plant), by capacity (Below 50 TPH, 50-150 TPH, 151-300 TPH, Above 300 TPH) across major regions of the world (North America, Latin America, Europe, East Asia, South Asia & Oceania, Middle East & Africa).

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