Paving equipment are special-purpose machines, particularly used in building concrete roads, pavements, and sidewalks. These are self-propelling machines that have a hopper, auger, and a screed. Paving equipment have played a significant role in the road and pavement construction industry for decades. These equipment are employed across a wide number of construction projects ranging from road construction to bridges and tunnels. Paving equipment are versatile in nature and can handle several types of construction material such as asphalt, concrete, bricks, and solid blocks.
The paving equipment market is largely driven by the increase in spending on road infrastructure. Countries such as the U.S., China, Japan, Italy, India, Australia, and Germany have vast road networks to connect major cities and country with minimum commute time. This largely optimizes the transportation costs and connects cities and boosts commerce. Roads are lifelines during emergency and well spanned network of roads increases trade. This, in turn, propels the economy. Furthermore, paving machines reduce the cost of construction as they make optimum use of materials and are precise at maintaining road or concrete pavement screed height and thickness.
Based on material, the paving equipment market can be divided into asphalt paving equipment, concrete paving equipment, block & brick paving equipment, and others. All these types of paving machines have alterations made within the sub-systems according to material to be paved. Different hoppers, screed layers, and augers are employed for each type of material. Similarly, other sub-systems used include conveyer systems, guides, vibrators, screed crowns, and push rollers also vary. In terms of application, the paving equipment market can be bifurcated into traffic road making and utility & private pavements. The traffic road making segment can be sub-segmented into asphalt roads, concrete, and others. The utility & private pavement segment can be further classified into foot paths, private pavements, block pavements, and concrete pavements. Based on the fuel used, the paving equipment market can be categorized into diesel, gasoline, others. In terms of type, the paving equipment market is classified into wheel paving equipment and tracker paving equipment. Wheeled paving equipment are easy to maneuver and transport; however, they cannot pave large horizontal roads. For large horizontal roads paving applications tracked paving machines are more suitable. But due to tracks, these machines are difficult to transport.
Based on geography, the global paving equipment market can be classified into Asia Pacific, Europe, North America, Latin America, and Middle East & Africa. Asia Pacific is a key market for paving equipment, due to the increasing government expenditure on infrastructure and rapid road and rail network expansion in the region. Countries such as China, India, and Australia have some of the longest roads in the world. Governments of China and Japan invest significantly in tunnels for faster commute between major cities. North America and Europe follow Asia Pacific in the global paving equipment market. Demand for paving equipment is high in developing economies of Eastern Europe. Countries such as India, Brazil, and South Africa have started increasing their expenditure on roads and railway networks. This is anticipated to create considerable opportunities for paving equipment manufacturers.
Key players operating in the global paving equipment market include Ingersoll Rand, Leeboy, Vogele, Dynapac, Roadtec, Terex Roadbuilding, and Caterpillar.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers’ or customers’ journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.