Westford USA, Aug. 29, 2023 (GLOBE NEWSWIRE) -- According to SkyQuest, technological innovations in asphalt pavers, such as automated control systems and improved material distribution mechanisms, enhance paving accuracy and efficiency. These advancements attract contractors seeking higher precision and reduced material wastage, driving asphalt pavers market growth.
Browse In-Depth TOC on the "Asphalt Pavers Market"
- Pages - 165
- Tables - 63
- Figures - 75
Rapid urban and industrial growth requires expanded infrastructure, boosting the demand for asphalt pavers. Developing economies are investing in upgrading their transport networks, which fuels the asphalt pavers market as governments and private players invest in road development projects to accommodate urbanization and industrial demands.
Prominent Players in the Asphalt Pavers Market
- Caterpillar Inc.
- Wirtgen Group (a subsidiary of John Deere)
- Volvo Construction Equipment
- Dynapac AB (a subsidiary of Fayat Group)
- Ammann Group Holding AG
- Roadtec Inc. (a subsidiary of Astec Industries, Inc.)
- Bomag GmbH (a subsidiary of FAYAT Group)
- LeeBoy
- SAKAI HEAVY INDUSTRIES, LTD.
- Sumitomo Construction Machinery Co., Ltd.
- ABG - Titan (a subsidiary of Atlas Copco)
- XCMG Group
- Zoomlion Heavy Industry Science and Technology Co. Ltd.
- Weiler
- Mauldin Paving Products (a subsidiary of Calder Brothers Corporation)
- GOMACO Corporation
- Terex Corporation
- Hanta Machinery Co. Ltd.
- VT LeeBoy, Inc.
- SANY Group
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Track Pavers Segment is Expected to Grow the Market Due to their Exceptional Stability and Traction
Track pavers are the fastest-growing segment in the global asphalt pavers market due to their exceptional stability and traction. They excel at challenging terrains and are increasingly preferred for larger paving projects. As infrastructure development surges worldwide, the demand for these versatile, high-performance pavers continues to rise, making tracked pavers a key driver of market growth.
North America is one of the fastest growing regions in the asphalt pavers market as the region's focus on road maintenance, repair, and expansion projects contributes to increased demand for asphalt pavers. Government initiatives and investments in upgrading aging infrastructure stimulate market growth, making North America a dynamic hub for asphalt paver adoption and driving its rapid expansion.
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Wheel Pavers Segment is Expected to Dominate the Market Due to Adaptability
Wheel pavers segment attains dominance in the asphalt pavers market due to their adaptability and ease of transportation. Excelling across diverse paving applications, they attract projects of varying scales. Their maneuverability and efficiency make them preferred, driving consistent demand. This segment maintains a substantial market share, attributed to versatility and widespread usability, thus underscoring its pivotal role in the market.
Asia Pacific emerges as a dominant force in the global asphalt pavers market. Driven by robust infrastructure development and urbanization, the region witness’s significant road construction activities. Increasing investments in transportation networks amplify the demand for asphalt pavers, solidifying Asia Pacific's pivotal role in the market's growth.
A comprehensive analysis of the major players in the asphalt pavers market has been recently conducted in a report. The report encompasses various aspects, including collaborations, mergers, innovative business policies, and strategies, providing valuable insights into key trends and breakthroughs in the market. Furthermore, the report scrutinizes the market share of the top segments and presents a detailed geographic analysis. Lastly, the report highlights the major players in the industry and their endeavors to develop innovative solutions to cater to the growing demand.
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Key Developments in the Asphalt Pavers Market
- In 2022, Dynapac introduced its latest product, the 8-foot tracked paver D25T to the market. This move followed the announcement of a USD 1 trillion federal investment by the United States government to enhance roads and highways, demonstrating Dynapac's strategic response to the country's increased focus on road and highway development.
- Wirtgen recently launched the SP 102i concrete pavers, featuring a modular design that empowers customers to adapt to various applications by adding or removing modules as needed.
Key Questions Answered in Asphalt Pavers Market Report
- What specific growth drivers are projected to impact the market during the forecast period?
- List the top companies in the market and explain how they have achieved their positions of influence.
- In what ways do regional trends and patterns differ within the global market, and how these differences shape the market's future growth?
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