The Asphalt Pavers Global Market Report 2023 by The Business Research Company, provides asphalt pavers market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten-year historic period – 2010-2021, and a ten-year forecast period – 2023-2032.
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According to The Business Research Company’s Asphalt Pavers Global Market Report 2023, the market size is expected to grow from $1.92 billion in 2022 to $2.12 billion in 2023 at a compound annual growth rate (CAGR) of 10.2%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services, causing inflation across goods and services and affecting many markets across the globe. The asphalt pavers market size is expected to grow to $3.01 billion in 2027 at a CAGR of 9.2%.
The increase in road traffic in various parts of the world is expected to propel the asphalt pavers market going forward. Road traffic includes pedestrians, ridden or herded animals, vehicles, streetcars, and other conveyances traveling on any highway, either alone or in groups. The primary source of traffic congestion is the increased number of vehicles due to population growth and economic development. This surge in road traffic in various parts of the world underpins the need for better connectivity, which in turn is spurring demand for asphalt pavers to construct road, bridges and highways.
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The asphalt pavers market is segmented:
1) By Type: Track Pavers, Wheel Pavers, Screeds
2) By Paving Width: Less than 2.5 Meters, 2.5-5 Meters, More Than 5 Metr
3) By Technology: Hydrostatic, Mechanical
Technological advancements have emerged as a key trend gaining popularity in the asphalt’s pavers market. The market has witnessed the advent of 3D paving technology, which automates autonomous operations in construction with the help of remote sensing and milling control systems technology. Major companies operating in the asphalt pavers market is focused on developing new technological solutions to strengthen their position. For instance, in February 2021, Trimble, a US-based industrial technology company, launched Trimble Roadworks 3D Paving Control Platform, the next-generation platform for 3D asphalt paving control systems. Trimble Roadworks is a highly accurate, autonomous 3D screed control technology that can improve paving production and rideability dramatically. It designs directly rather than a surface or string line to reduce asphalt usage, waste, and overruns and finish projects on time and within budget.
The asphalt pavers market report table of contents includes:
1. Executive Summary
2. Asphalt Additives Market Characteristics
3. Asphalt Additives Market Trends And Strategies
4. Asphalt Additives Market – Macro Economic Scenario
5. Asphalt Additives Market Size And Growth
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26. Africa Asphalt Additives Market
27. Asphalt Additives Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Asphalt Additives Market
29. Asphalt Additives Market Future Outlook and Potential Analysis
30. Appendix
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