Asphalt Plant Market to Reach US$ 10.08 Bn at a CAGR of 6.7% in 2027

Asphalt Plant Market to 2027 - Global Analysis and Forecast by Type (Drum Plant and Batch Plant), Product (Stationary Plant and Portable Plant), Application (Road Construction, Aggregate Processing, and Others)

Publication Month : Jan 2020

  • Report Code : TIPTE100000755
  • Category : Manufacturing and Construction
  • Status : Published
  • No. of Pages : 440
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The asphalt plant market revenue is expected to grow from US$ 1.93 Bn in 2018 to US$ 2.47 Bn by the year 2027. This represents a CAGR of 2.8% from the year 2019 to 2027.

Whereas, in terms of volume, the market was valued at 4,127 units in 2018 and is anticipated to reach 4,831 units by 2027 thereby registering a CAGR growth rate of 1.8% from 2019 to 2027. The global asphalt plant market is experiencing exponential growth owing to the growing number of highway development projects. The companies operating in the asphalt plant market are focusing on offering technologically advanced products that meet the varying demands of the customers. Another factor supporting the growth of the asphalt plant market   is urbanization, which is supporting the increasing demand for modern infrastructures such as new roads and highways.

Asphalt Plant Market Revenue by Region (Mn, USD)

Asphalt Plant Market Revenue by Region (Mn, USD)
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Asphalt Plant Market - Market Insights

Versatile benefits offered by asphalt is driving the growth of the asphalt plant market

Asphalt mixing plants are widely used in road and highway construction, and most of the roads around the globe are paved with asphalt. Asphalt is prevalent for road construction as it offers high durability and excellent performance in trafficked conditions. The asphalt used for highway construction is a mixture of bitumen, aggregate, and filler, and the roads can be paved using a hot or cold mix asphalt. The asphalt mixing plant is a crucial road construction equipment that is used for manufacturing asphalt that is used for road construction. Several governments emphasize the speed of construction and the quality of roads that are to be constructed. For instance, MoRTH, NHAI, and other departments of India emphasize that the quality of roads should be in line with the global standards. Hence, such significant growth is expected to offer ample growth opportunities for the asphalt plant market players during the forecast period of 2019 to 2027. 

Low installation costs due to modular build-up design and intelligent connection techniques allow for rapid site relocation

With the growing popularity of asphalt for construction, the demand for asphalt plants is increasing across the construction industry. The customers are moving towards asphalt plants, which offers easy installations and lower installation costs. The construction companies are focusing on installing asphalt plants that provide greater efficiency and can be ported easily to other construction sites. The growing demand for modular asphalt mixing plants is creating an opportunity for the companies to gain a strong customer base by offering advanced solutions to its customers. Companies such as Benninghoven GmbH & Co. KG, Fayat SAS, Astec, and Ammann Group are focusing on offering asphalt mixing plant with modular design to provide easy installations and rapid site relocation. Therefore, a strong focus of the companies towards offering advanced asphalt mixing solutions might help them to grow in terms of revenue and customer base. Hence, such benefits of efficient and robust asphalt plant are propelling the growth of Asphalt Plant Market. 

Asphalt Plant Market – Type

Based on type, the global asphalt plant market is segmented into drum plant and batch plant. The drum plant is a type of continuous asphalt mixing plant, which offers a continuous production process. However, the batch plant produces the mixture in batches according to the varying requirements. The presence of a screen to monitor the quantity of mixing in batch plants provides higher accuracy in mixing compared to the drum plant. The drum plants are ideal for the construction sites where large amounts of asphalt mixture are required, whereas the batch mixing plants are widely used where the quality of the mix is essential for construction. The manufacturing companies of batch and drum mixing plants are focusing on providing solutions that offer high efficiency and low maintenance costs.

Asphalt Plant Market – Product

The asphalt plant market, by product, is segmented into a stationary plant and portable plant. Stationary plants produce asphalt mixture in bulk and are used in projects where the requirement for the mobility of asphalt plants is low. Stationary asphalt mixing plants are widely used in major construction projects that require continuous production of a large amounts of asphalt batch mixes. However, the portable asphalt mixing plant is ideal for small projects that require greater mobility. The portable asphalt mixing plants are gaining popularity owing to the advantages offered, such as greater flexibility, lesser price, and lesser installation time.

Asphalt Plant Market – Application

Asphalt has wide range of applications in road construction, recreational sites construction, such as a playground, bicycle paths, tennis courts, agriculture, industrial, and building construction. Asphalt is primarily used in road construction as it offers significant performance and durability in most heavily trafficked conditions. Asphalt is gaining popularity for the construction of airfields, railway tracks, tunnels, and industrial sites. The growing popularity of asphalt for various construction applications is expected to support the growing demand for asphalt plants during the forecast period.


Asphalt Plant Market by Application (Revenue)

Asphalt Plant Market by Application (Revenue)
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Asphalt Plant Market -

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Asphalt Plant Market: Strategic Insights

asphalt-plant-market
Market Size Value inUS$ 1.93 Billion in 2018
Market Size Value byUS$ 2.47 Billion by 2027
Growth rateCAGR of 2.8% from 2019-2027
Forecast Period2019-2027
Base Year2019
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The market players present in the asphalt plant market are mainly focusing on product enhancements by implementing advanced technologies. By signing partnerships, contracts, joint ventures, funding, and inaugurating new offices across the world permit the company to maintain its brand name across the European region. Few of the recent developments are listed below;

2019:Lintec & Linnhoff Holdings Pte Ltd’s subsidiaries, Lintec & Linnhoff Asphalt Pte. Ltd. and Lintec & Linnhoff Concrete Pte. Ltd. were awarded Enterprise 50 (E50) Award. The award recognizes privately-owned businesses in Singapore for their contributions to the economy in Singapore and overseas.
2019:Kredmash announced the launch of an asphalt concrete plant in Moldova. The new asphalt concrete plant KDM20667 offers a capacity of 160 tons per hour is manufactured in accordance with EU standards.
2019:MARINI launched its new range of super-mobile XPRESS 1500 and XPRESS 2000 plants. The products would produce 120 and 160 tph respectively.

ASPHALT PLANT MARKET – MARKET SEGMENTATION

Asphalt Plant Market by Type

  • Drum Plant 
  • Batch Plant

Asphalt Plant Market by Product

  • Stationary Plant
  • Mobile Plant

Asphalt Plant Market by Application

  • Road Construction
  • Aggregate Processing 
  • Others

Asphalt Plant Market by Region

  • North America

    • U.S.
    • Canada
    • Mexico
  • Europe

    • Western Europe
      • UK
      • Germany
      • France
      • Italy
      • Spain
      • Netherlands
      • Portugal
      • Ireland
    • Eastern Europe
      • Poland
      • Russia
      • Ukraine
      • Rest of Eastern Europe
    • Northern & Central Europe
      • Sweden
      • Denmark
      • Finland
      • Rest of Northern & Central Europe
  • Asia-Pacific

    • Australia
    • China
    • India
    • Japan
    • South Korea
    • New Zealand
    • Indonesia
    • Malaysia
    • Thailand
    • Rest of Asia-Pacific 
  • Middle East & Africa

    • Saudi Arabia
    • UAE
    • South Africa
    • Turkey
    • Egypt
    • Iran
    • Kuwait
    • Nigeria
    • Rest of Middle East & Africa
  • South America

    • Brazil
    • Argentina
    • Chile
    • Colombia
    • Rest of South America

Asphalt Plant Market – Key Companies Profiled

  • Ammann Group Holding AG (Marini Marini-Ermont SAE)
  • Astec Industries, INC.
  • Benninghoven GmbH & CO.KG
  • Capious Roadtech Pvt. Ltd.
  • Fayat SAS
  • JSC Kredmash
  • NFLG INC.
  • Nikko Co. Ltd
  • Sany Heavy Industry Co., Ltd.
  • Speedcrafts Limited
Report Coverage
Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered
Segment Covered

Type , Product , Application

Regional Scope
Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope
Country Scope

US, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina

Frequently Asked Questions


What are reasons behind Asia-Pacific asphalt plant market growth?

Factors such as strong year-on-year growth of the infrastructure development along with growing emphasis towards improving connectivity thorough road network across emerging towns and cities is anticipated to continue to drive the market growth.

Where asphalt plant are mostly used?

Asphalt plant have extensive scope of application across road construction and aggregate processing application. As a result, the activities such as infrastructure development as well as retrofitting and renovation of roads have profound utilization of asphalt plants.

Which type of asphalt plant expected to gain traction during the coming years?

The mobile (vehicle mounted or towable) asphalt plant owing to their ability to easily relocate from one site to another has contributed substantially in its rising popularity. Moreover, the advancement in technology has resulted in robust and highly efficient asphalt plant with large production capacities for the aggregate mixing.

The List of Companies - Asphalt Plant Market

  1. Ammann Group Holding AG (Marini Marini-Ermont SAE)
  2. Astec Industries, INC.
  3. Benninghoven GmbH & CO.KG
  4. Capious Roadtech Pvt. Ltd.
  5. Fayat SAS
  6. JSC Kredmash
  7. NFLG INC.
  8. Nikko Co. Ltd
  9. Sany Heavy Industry Co., Ltd.
  10. Speedcrafts Limited

The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

  1. Data Collection and Secondary Research:

As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

  1. Primary Research:

The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.

A typical research interview fulfils the following functions:

  • Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
  • Validates and strengthens in-house secondary research findings
  • Develops the analysis team’s expertise and market understanding

Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:

  • Industry participants: VPs, business development managers, market intelligence managers and national sales managers
  • Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.

Below is the breakup of our primary respondents by company, designation, and region:

Research Methodology

Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.

  1. Data Analysis:

Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.

  • 3.1 Macro-Economic Factor Analysis:

We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.

  • 3.2 Country Level Data:

Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.

  • 3.3 Company Profile:

The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.

  • 3.4 Developing Base Number:

Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.

  1. Data Triangulation and Final Review:

The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.

We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.

We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.

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