Asphalt Mixing Plants Market Analysis Report 2019 – 2024
Date: 2019-06-05   Author: Rahul Varpe  Category: #news

Asphalt Mixing Plants Market Analysis Report 2019 – 2024

The Asphalt Mixing Plants Market 2019 Research Report investigates a thorough and complete study on Asphalt Mixing Plants market volume, market Share, market Trends, applications, Utilization ratio, Supply and demand analysis, manufacturing capacity and  growth forecast  from 2019 to 2024.

Increasing spending capabilities are likely to fuel the requirement for passenger and personal cars, leading to an increased rate of traffic, which will demand the existence of strong roads, thereby propelling asphalt mixing plants market. In the light of the exponentially rising automobile demand, the governments of various countries are investing heavily in developing highways, which will further boost market share over the years ahead.

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The escalating growth of the construction and infrastructure sectors is one of prominent factors stimulating asphalt mixing plants market, given that asphalt is one of key raw materials used in road construction. Strictly speaking, around 70% of overall asphalt production is consumed for road developments. Taking into consideration, the large-scale use of asphalt for road construction, industry giants are utilizing innovative technologies to reduce labor cost, machine wear, and fuel consumption.

Ammann Research and Development Center is continuously launching new products in all corners of the world for diverse kinds of construction applications. To fulfill the increasing need of asphalt paving is likely to influence asphalt mixing plants industry size positively. As per the market study, Asphalt Mixing Plants Market collected a revenue of USD 6.6 billion in 2016.

Considering that asphalts possess greater benefits such as durability, flexibility to accommodate imperfections, and surface hardness as opposed to concrete, an increasing demand for the former has been observed since the last few years as compared to the latter, which will augment asphalt mixing plants industry share. Also asphalt based roads possess a unique capability to withstand heavy vehicles. Besides, automakers are developing high end luxurious vehicles, owing to the changing consumer lifestyle and growing modernization across the globe.

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Pertaining to the energy efficiency factor, asphalt mixing plant technology has been witnessing the trend of rental asphalt plant (RAP). Companies such as Amomatic have been undertaking steps to fulfill the client demands for rental plant owing to the subsequent reduction in huge initial investments in asphalt plant. Initiatives such as these are likely to promote the rental plant strategy, and eventually stimulate asphalt mixing plants market size over the coming years.

Continuous technological innovations and investments in R&D activities are slated to become fruitful for asphalt mixing plants industry players to sustain their leading position over the years ahead. Most of the behemoths operating in market have been turning to acquisitions to enhance their product diversification. Globally, asphalt mixing plants market is likely to depict an upward growth graph, with a CAGR estimation of 1.4% over the coming seven years.

Recently, China-based asphalt mixing plants market giant, D&G technology, announced that it was glad to state that the company is likely to procure profits from the surging number of road construction projects in China as well as other countries. Apparently, as compared to the last year, the company witnessed a 53% hike in the profit up to 30th June 2017. Pertaining to the deployment of national environmental protection policies by the Chinese government, the demand for recycling asphalt mixing plants has considerably increased.

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Most of the automakers are expanding their regional presence across Asia Pacific, pertaining to the growing consumer base. The governments of various Asian countries such as India, China, Japan, Malaysia, and Thailand are investing a huge amount of capital to improve road infrastructure. As per estimates, in 2016, Asia Pacific asphalt mixing plants industry accounted for a revenue of USD 2.5 billion.

 

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Rahul Varpe

Rahul Varpe

Rahul Varpe currently writes for AlgosOnline. A communication Engineering graduate by education, Rahul started his journey in as a freelancer writer along with regular jobs. Rahul has a prior experience in writing as well as marketing of services and products online. ...

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