The North American region is the second-largest region, accounting for nearly 36% share of the Global Asphalt Mixing Plants market. The region is estimated to witness sluggish growth over the forecast period, on account of increasing restrictions on toxic emissions from the asphalt mixing plants.
Manufacturers of mixing plants are promoting equipment that fits the trend toward warm mix, recycling, cost savings, and environmental concerns. Along with this, the growing demand for low-cost, easy-to-transport construction equipment is a driving factor in the region’s asphalt mixing plants market.
Increasing asphalt production across the globe is a prime factor that will drive market demand. Countries, including India, Vietnam, and the Philippines, will be investing heavily in road construction & improvements in the coming decades to enhance their ranking.
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As people relocated from the countryside to urban areas to live and work over the past few years, urban areas have experienced tremendous growth. Private vehicle ownership will rise as disposable incomes rise, increasing demand on the roads and ultimately funding for road construction projects, especially in China and India. Due to the growing demand for affordable and portable construction equipment, portable product types are expected to gain the majority of market share.
- By Product type, the portable product segment of the Asphalt Mixing Plants segment expanded at a ~2% CAGR
- Based on Application, the road construction segment of Asphalt Mixing Plants is estimated to record an ~2% CAGR
- APAC region is likely to account for the majority share of nearly 3% during the forecast period
- Europe region is estimated to gain significant traction in the market for Asphalt Mixing Plants, Germany is likely to hold the majority share.
“Constructers have been investing a lot of time and money in fostering new asphalt plant solutions to cater to important industry requirements, thus in turn, to fuel the market growth of asphalt mixing plants”.
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Key players in the global Asphalt Mixing Plants market include Speco Limited, Nikko Co. Ltd., Ammann Group Holding AG, GP Gunter Papenburg AG, Lintec & Linnhoff Germany GmbH.,among others. Recent key developments among players are:
- In Aug 2022, Construction Partners, Inc. ROAD (the Company), a vertically integrated civil infrastructure company specializing in the construction and maintenance of roadways across five southeastern states, announced the acquisition of Southern Asphalt, Inc., headquartered in Conway, South Carolina. As a result of the acquisition, the Company added two hot-mix asphalt plants and more than 200 employees in the Myrtle Beach, South Carolina metro area.
- In Aug 2021, Berkshire Engineering Supplies (BES) and R&G Cooper (RGC) joined forces to create Bulldog Plant & Equipment Ltd, which is said to be the only business of its kind in Britain and is set to become the number one provider of large-scale production plants in the construction materials, engineering, and energy sectors.
- In March 2022, Astec Industriesagreed to acquire MINDS Automation Group (MINDS). The firm is a leader in plant automation control systems and cloud-based data management in the asphalt industry.
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The study reveals essential insights based on Asphalt Mixing Plants Market by Process (Batch, Continuous) by Product (Portable, Stationary) by Application (Road Construction, Others) by Capacity (Below 50T/H, 50-150T/H, 151-300T/H, Above 300T/H) & Region (North America, Europe, East Asia, South Asia, Oceania and Middle East & Africa, and Latin America)
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