Newark, Feb. 07, 2024 (GLOBE NEWSWIRE) -- The Brainy Insights estimates that the USD 7.2 billion asphalt mixing plants market will reach USD 8.8 billion by 2032. The recent notable expansion in the transportation and construction industries will increase demand for asphalt mixing plants. The need for asphalt mixing plants is expected to develop globally due to increased industries, including building, bridge, and tunnel construction. Additionally, it is projected that growing infrastructure spending in developing nations will encourage asphalt mixing plant market expansion during the forecast period. This presents chances for international infrastructure development projects to prosper. Asphalt mixing plants are used in the construction of roads. Therefore, more money is expected to be spent on building infrastructure and roads, which will drive the growth of the global asphalt mixing plant market. Furthermore, a surge in sales of passenger and commercial vehicles is anticipated to support market expansion. The rising demand for these plants in China, the US, the UAE, Germany, India, and Japan also propels the market's rise. However, environmental risk considerations include increasing pollution levels from asphalt mixing plants, limiting the market's growth. Manufacturers are focusing their R&D budgets in an attempt to reduce this risk.
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Key Insight of the Global Asphalt mixing plants market
Asia Pacific will account for the largest market size during the forecast period.
Countries in this region place a lot of emphasis on road construction projects since they operate as engines for economic growth. The growing nations of East Asia are rapidly urbanising, and this, coupled with continuous public infrastructure spending, has stimulated the road construction business in the region. In addition, the demand for asphalt mixing facilities in the region has increased due to the expanding budget for highway construction and the continued development of airports in key cities. In addition, there is a growing demand for the products produced by the expanding automobile industry, especially in China and India, which is predicted to eventually lead to an increase in road construction projects in the area. For example, China's One Belt, One Road initiative aims to increase cooperation and connectivity between several Asian, African, and European nations.
The stationary segment dominated the market with the most significant revenue of USD 4.24 billion.
The stationary segment dominated the market with the most significant revenue of USD 4.24 billion. Stationary plants are utilised in projects where there is less need for the mobility of asphalt plants, and they generate asphalt mixtures in large quantities. In large building projects where large quantities of asphalt batch mixes must be produced continuously, stationary asphalt mixing plants are frequently utilised.
The road construction segment dominated the market with the most significant revenue of USD 3.88 billion.
The road construction segment dominated the market with the most significant revenue of USD 3.88 billion. As it provides significant performance and durability in most highly frequented environments, asphalt is largely employed in road building. Airfields, railroad tracks, tunnels, and industrial locations increasingly use asphalt. Throughout the projection period, the expanding demand for asphalt plants is anticipated to be supported by the growing use of asphalt for various construction applications.
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Market Dynamics:
Drivers: Increased road construction
The building and transportation sectors have grown rapidly over the last few years, which is anticipated to fuel the expansion of the global market for asphalt mixing plants. The global market for asphalt mixing plants is anticipated to develop due to a surge in demand from various industries, including building, tunnel, highway, and bridge construction. Moreover, increased infrastructure spending in developing nations is anticipated to support the expansion of the global market for asphalt mixing plants throughout the projected period. Global infrastructure construction projects have the potential to develop due to this.
Restraint: Adverse effects of toxic emission
The harmful emissions produced by asphalt mixing pose a serious threat to the environment, contributing to increasing pollution levels and other issues that are expected to limit the use of asphalt mixing plants in the area in the future. It is predicted that as the effects of global warming intensify, the manufacturing sector will need to adopt more environmentally friendly technology to lessen the environmental impact of its operations.
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Some of the major players operating in the asphalt mixing plants market are:
● Nikko Company Limited
● AMMANN Group
● Speed Crafts
● 4B Construction Corporation
● Solmec Earthmovers Pvt. Ltd
● MARINI S.p.A
● ASTEC
● Benninghoven
● Atlas Industries
● Arky Construction
Key Segments covered in the market:
By Product:
● Stationary
● Portable
By Application:
● Road Construction
● Others
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About the report:
The global asphalt mixing plants market is analyzed based on value (USD billion). All the segments have been analyzed on a worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report offers an in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes Porter's five forces model, attractiveness analysis, raw material analysis, supply, and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
About The Brainy Insights:
The Brainy Insights is a market research company, aimed at providing actionable insights through data analytics to companies to improve their business acumen. We have a robust forecasting and estimation model to meet the clients' objectives of high-quality output within a short span of time. We provide both customized (clients' specific) and syndicate reports. Our repository of syndicate reports is diverse across all the categories and sub-categories across domains. Our customized solutions are tailored to meet the clients' requirements whether they are looking to expand or planning to launch a new product in the global market.
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