According to the latest report, titled “Asphalt Pavers Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast’ the India facility management market is expected to exhibit a Huge CAGR during the Forecast Period. The global asphalt pavers market size stood at USD 1.98 billion in 2018 and is projected to reach USD 2.77 billion by 2026, exhibiting a CAGR of 4.4% during the forecast period.
This COVID-19 analysis of the report includes COVID-19 IMPACT on the production and, demand, supply chain. This report provides a detailed historical analysis of the global Asphalt Pavers Market by region/country and subsectors. The report covers the revenue, sales volume, price, historical growth, and future perspectives in the Asphalt Pavers Market.
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A few top players in the industry are–
- Solaris Bus & Coach S.A
- ŠKODA ELECTRIC A.S.
- Hometown Trolley
- Astra Bus
- Gomaco Trolley Co.
- Molly Corporation
- Salzburg AG
- BPSWA INC.
- Bohdan Corporation
- ZF Friedrichshafen AG
- Kiepe Electric GmbH
- New Flyer of America Inc.
- Carrosserie HESS AG
The report gives a precise view of the future perspective and present market demands. The report also includes facts and statistics, tables & figures referred to in this report for strategic planning which leads to the success of the organizations. In this market report, the market share that various manufacturers hold in the global Asphalt Pavers Market and the market concentration is described in the report.
On the basis of Geography, the Global Asphalt Pavers Market is segmented into North America, Europe, Asia-Pacific, and the Rest of the World (RoW). North America is expected to hold a considerable share in the global Asphalt Pavers Market. Due to increasing investment for research and development process and adoption of solutions in the region whereas Asia-Pacific is expected to grow at a faster pace during the forecasted period.
The growing number of Asphalt Pavers Market players across regions is expected to drive market growth further. Moreover, increasing investments by prominent vendors in product capabilities and business expansion is expected to fuel the market during the study period. Many market players are finding lucrative opportunities in emerging economies like China and India, where the large populations are coupled with new innovations in numerous industries.
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Drivers & Restraints-
Rising Need for Protecting Buildings from Harsh Weather to Drive Growth
The frequently changing climatic conditions are affecting the infrastructures. Hence, consumers are becoming more aware of the same. Apart from this, the rising concerns about global warming are starting to influence several consumers to use novel technologies for preventing the structures from extreme weather conditions. It is, in turn, resulting in the high demand for roofing to protect new and aging structures. Asphalt is nowadays increasingly utilized in applications such as waterproofing and recreation. Waterproofing is necessary for avoiding dampness, leakages, decay, molds, and mildew in buildings. However, many people are gradually inclining towards cement roadways from bitumen roads. It may hamper the asphalt market growth in the coming years.
An overview of the Asphalt Pavers Market’s regional outlook:
The market is divided into five regions: North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa (MEA). North America is further subdivided into countries such as the United States and Canada. The Europe region is further divided into the United Kingdom, France, Germany, Italy, Spain, Russia, and the Rest of Europe. China, Japan, South Korea, India, Australia, South East Asia, and the rest of Asia Pacific are subdivided into Asia Pacific. The Latin America region is separated into Brazil, Mexico, and the rest of Latin America, whereas the MEA region is divided into GCC, Turkey, South Africa, and the rest of MEA.
Asia Pacific to Remain at the Forefront Stoked by Rapid Urbanization
Asia Pacific is set to grow considerably in the coming years because of the presence of a well-established construction sector in this region. The developing nations, such as India, China, and South Korea are the major contributors to growth. Industry consolidations and rapid urbanization in these countries would also affect the market positively. However, COVID-19 pandemic has reduced the growth rate. As per our research, Hong Kong’s construction industry recently laid off approximately 50,000 employees on account of the disruptions in the supply of labor and raw material from China.
In 2019, North America, on the other hand, procured USD 65.43 million in terms of revenue. This growth is attributable to the rising trend of maintenance of highways and roadways, as well as the recreation of residential buildings. Coupled with these, favorable government policies, rising construction activities, and robust economic growth are anticipated to drive the demand in this region.\
Key Companies Focus on Bagging Orders from Other Enterprises to Surge Sales
The global market is highly fragmented with the presence of numerous big, medium, and small-sized companies globally. They are persistently adopting the strategies of investment, gaining new projects, mergers & acquisitions, collaborations, and others.
- What is the driving factor for the growth of the Asphalt Pavers Market?
- How will the COVID-19 pandemic impact the demand and consumption of the Asphalt Pavers Market?
- What is the major application area of the Asphalt Pavers Market?
- Who are the Asphalt Pavers Market manufacturers across the globe?
- Which geographical location is dominant in the Asphalt Pavers Market?
- Which are the top industry players in the Asphalt Pavers Market?
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