Selbyville, Delaware, Dec. 15, 2022 (GLOBE NEWSWIRE) —
Asphalt Mixing Plants Market is expected to cross a valuation of USD 8.5 billion by 2032, according to the recent research report by Global Market Insights Inc.
The increasing government emphasis on economic growth in the aftermath to the COVID-19 pandemic is fostering industry expansion. Initiatives towards improving infrastructure, is creating a higher demand for asphalt production. This is subsequently simulating the availability of mobile and modular asphalt mixing plants, offering ease of installation and trucking and generating novel revenue streams. In addition, growing industry inclination towards recycling is also expected to shape the asphalt mixing plants market scenario in a positive manner.
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Cost-effectiveness to foster the continuous mixing process growth
The industry size from continuous process type is projected to reach USD 2 billion by 2032, owing to the cheaper ownership costs associated with continuous asphalt mixing plants. Additionally, the ease of setup and maintenance these plants further favors market outlook as it greatly lowers the cost of entry for new entrants. Continuous plants also occupy less space and their latest models are equipped with upgraded control panels to store the mixed material recipes, making operations easier.
Rising government spending on port infrastructure
The asphalt mixing plants market application segment valuation is likely to cross USD 1 billion by 2032. Under other applications, asphalt is used in avenues such as ports, agriculture, industrial and construction among others. In this regard, increasing government investments across the globe to improve the port and logistics infrastructure is likely to contribute towards business expansion.
Ease of installation to stimulate portable product demand
The industry from the portable mixing plant type is poised to grow at over 3.5% CAGR from 2023 to 2032. The added flexibility and quick installation of portable or mobile asphalt mixing plants is projected to drive the market development. Furthermore, surging demand for mobile asphalt mixing plants can also be attributed to their lower installation costs and lower weight. Rising focus towards road construction or other infrastructure initiatives in remote locations is likely to foster business growth.
Extensive mixture capabilities of above 300 T/H capacity asphalt mixing plants
The asphalt mixing plants market revenue from the above 300 T/H capacity range is estimated to surpass USD 2 billion by 2032, due to the extensive mixture capacity of these plants. Such plants are also well-suited for large construction sites, which are located far from the major infrastructure centers, as they greatly save on the logistics and material transportation costs.
Ever-growing construction sector in Asia Pacific region
The Asia Pacific industry is poised to reach USD 4 billion by 2032, fueled by the ever-expanding construction sector in the region, especially that of its emerging economies, including India, Japan, Indonesia, and China. These nations tend to put a higher emphasis towards the construction of new roadways on a long-term basis, which slated to foster a higher demand for asphalt production, contributing towards regional outlook.
Product innovations to outline the competitive landscape
Some key players in the market for asphalt mixing plants include Kaushik Engineering Works, Atlas Industries, SANY Group, Arcen Engenharia SA, Fujian Tietuo Machinery Co. Ltd., Simge Group, Ciber Global, FAB HIND, Kredmash, WRT Equipment Ltd., Solmec Earthmovers Pvt. Ltd., SIGMA Asphalt Technology, Haomei machinery equipment Co. Ltd., among others. With efficiency and sustainability on their agenda, many leaders are focusing on product innovations to consolidate their footprint.
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Partial Table of Contents (ToC) of the report:
Chapter 2 Executive Summary
2.1 Asphalt mixing plants industry 360º synopsis, 2018 – 2032
2.1.1 Business trends
2.1.2 Process trends
2.1.3 Application trends
2.1.4 Product trends
2.1.5 Capacity trends
2.1.6 Regional trends
Chapter 3 Asphalt Mixing Plants Industry Insights
3.1 Introduction
3.2 Industry size & forecast, 2018 – 2032, (Units, USD Million)
3.3 Asphalt mixing plants ecosystem analysis
3.4 Technology landscape
3.5 Raw material analysis
3.6 Regulatory landscape
3.7 COVID-19 impact on asphalt mixing industry
3.8 Cost structure analysis
3.9 Industry impact forces
3.9.1 Growth drivers
3.9.1.1 Increasing road construction activities in Asia Pacific
3.9.1.2 Increasing asphalt production globally
3.9.2 Industry pitfalls and challenges
3.9.2.1 Toxic emissions during asphalt mixing process
3.10 Growth potential analysis, 2022
3.10.1 New business models
3.11 Porter’s analysis
3.12 Microeconomic factors analysis
3.13 PESTEL analysis
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About Global Market Insights Inc.
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
