Asphalt mixing plant manufacturers are pushing for product improvements in terms of production capacities and sustainability to maintain sales through the pandemic.
ROCKVILLE, MD / ACCESSWIRE / June 30, 2020 / The global asphalt mixing plants market is expected to grow sluggishly at 2.8% CAGR throughout the period of assessment between 2020 and 2030. The covid-19 outbreak has hit the infrastructure industry as new projects are having to contend with supply chain issues, regulatory delays, and lack of adequate workforce. These factors will have substantial influence on the asphalt mixing plant market throughout the pandemic.
Social distancing measures and shortage of PPE such as face masks, will also have a negative impact on asphalt mixing plant applications. Consequently, the outbreak is expected to result in significant cuts in workforce and drops in productivity. The asphalt mixing plant market will witness a gradual recovery as restrictions on industrial activities are removed.
"After the end of the pandemic, the rising construction and road repair sectors will generate higher demand for asphalt in the near future. Extensive applications in highways, tunnels, road and bridge construction will aid the market. In addition, the growth of the automobile industry in Asia Pacific, is also generating greater demand on new roads, boosting road repair and construction projects," says the FACT.MR analyst.
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Asphalt Mixing Plant Market - Important Takeaways
- Batch asphalt mixing plants contribute substantially to market revenue owing to higher flexibility, and lower costs of parts and operation.
- Stationary asphalt mixing plants remain highly sought after owing to flexibility with equipment and better production capacities.
- Road construction applications remain the primary use of asphalt mixing plants, driven by strong demand from Latin America and Asia Pacific.
- Investments into infrastructure, have resulted in major market share for Asia Pacific. MEA and Latin America generate key lucrative opportunities, owing to capital investments.
Asphalt Mixing Plants Market - Driving Factors
- Promising prospects of growth in the construction and infrastructure industry are key to the demand for asphalt mixing plants.
- High asphalt requirements for construction and road repair projects bolster adoption rates.
- The burgeoning automotive industry of the Asia Pacific boosts the requirement for road infrastructure projects.
- Eco-friendly tech developments in the asphalt mixing plants market generate remunerative growth opportunities.
Asphalt Mixing Plants Market - Leading Constraints
- Strong competition from viable material alternatives to asphalt hinder asphalt mixing plants market growth.
- Environmental concerns associated to the emission of pollutants from asphalt hurt market prospects.
Anticipated Market Impact by Coronavirus Outbreak
The covid-19 crisis has resulted in substantial delays in terms of productivity in the infrastructure sector. In addition, the industry is also witnessing spiraling costs of projects, owing to supply chain interruptions and health risk to workforce, which affects the asphalt mixing plants market.
Infrastructure companies are seeking to mitigate the impact of the outbreak by adopting digital platforms and minimalistic approaches including offsite construction operations. On the other hand, the asphalt mixing plants market is expected to display a steady recovery in the near future as construction and infrastructure activities go back to pre-pandemic levels.
Find out more on the global asphalt mixing plants market with 118 figures and 72 data tables, along with the table of contents. You will also find market segmentation on https://www.factmr.com/report/4741/asphalt-mixing-plant-market
Competition Landscape
Manufacturers in the asphalt mixing plants market are pushing for capacity expansion and the development of new products. In addition, manufacturers seek mergers and acquisitions to build on their geographical presence. For example, Lintec has revealed a range of mobile asphalt mixing plant products.
Major players in the industry include but are not limited to Arky Construction and Supply, Atlas Industries, 4B Construction Corporation, Benninghoven, Solmec Earth Movers Pvt. Ltd., Kaushik Engineering Works, HP Tiles Machinery, Linhoff India Pvt. Ltd., and Akona Engineering Pvt. Ltd.
More on the Report
FACT.MR's provides detailed data on asphalt mixing plant market. The market is divided in terms of product (stationery and portable), type (drum plant and batch plant), and capacity (below 50 TPH, 50 - 150 TPH, 151 - 300 TPH, and above 300 TPH) across six key regions (North America, Latin America, Europe, East Asia, South Asia Pacific, and Middle East and Africa).
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SOURCE: FactMR
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