Asphalt Pavers Market Analysis, Size, Share, Trends & Growth Projections Studied during 2018-2028
The asphalt Pavers market report provides the users with a comprehensive outlook of the asphalt pavers market that includes all the vital insights, key trends, drivers, market challenges and future opportunities in the asphalt pavers market during the forecast period.
[UKPRwire, Tue Jun 18 2019] Fact.MR has compiled a study on the asphalt pavers market and published a report titled, “Asphalt Pavers Market Forecast, Trend Analysis & Competition Tracking - Global Review 2018 to 2028”. The asphalt Pavers market report provides the users with a comprehensive outlook of the asphalt pavers market that includes all the vital insights, key trends, drivers, market challenges and future opportunities in the asphalt pavers market during the forecast period.
Asphalt paver or asphalt paving machine is a construction equipment used to lay, distribute and shape asphalt on roads, bridges and other similar places. Asphalt paver while laying the asphalt flattens the asphalt layer and provides a preliminary level of compaction.
As the construction equipment industry continues to remain a consolidated landscape, the asphalt pavers market represents dominance of a handful of prominent players. With their strong regional distribution network, Tier 1 players in the asphalt pavers market hold nearly 64% of the global market share. These players including Fayat Group, Caterpillar, Astec Industry, Wirtgen Group (Vogele), Ammann, Zoomlion, Sakai and Sumitomo are leveraging global expansion, pricing strategies and investments in R&D to maintain market sustainability.
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Expansion of distribution network in the emerging countries is one of the prominent strategies adopted by asphalt pavers manufacturers. For instance, Dynapac (Fayat Group) resumed its business with the Bau Power Group. The Bau Power Group will serve as the exclusive Dynapac importer partners in Australia and New Zealand.
Construction companies involved in the heavy investments of asphalt pavers continue to remain bemused regarding the downtime of pavers as it costs a heavy million dollar. As paving forms the first line of road construction, effects of asphalt paver downtime extends to succeeding applications of rollers, trucks and mills, making the downtime extremely expensive for the company.
In a bid to effectively address the downtime issues and lower operating costs, OEMs in the asphalt pavers market are leveraging predictive maintenance systems that significantly reduce equipment downtime and repair costs. In addition, technologies used in predictive maintenance provide operator safety, reduce the training time and increase the resale value of the equipment.
Identifying these benefits, prominent manufacturers in the asphalt pavers market are implementing predictive maintenance systems in asphalt paver designs.
- Caterpillar, in October 2018 announced the launch of Cat® Asset Intelligence 5.0, a new version of its predictive maintenance system which allows users to optimize repair and maintenance plans and adds fuel efficiency.
- Volvo CE, in 2017 launched ActiveCare Direct (ACD), company’s new telematics and fleet management monitoring service platform.
- Roadtec has also introduced Guardian Telematics that allows users to modify data in real time to efficiently prevent downtime and enhance productivity.
In the important tasks of asphalt paving operations, screed plays a vital role in delivering better quality and optimum density of an asphalt road. Manufacturers in the asphalt pavers market are actively implementing new features in screed component that deliver better quality asphalt mat and ultimately improve the lifecycle of the pavement.
Screeds with pre-compaction are one of the highly sought-after features by end-users in asphalt pavers. An efficient pre-compaction helps in achieving greater density in asphalt mat and maximizes air void reduction through rollers. OEMs in the asphalt pavers market deliver screed components with a combination of configurations such as screed weight, paving speed and temper bar amplitude that can be adjusted according to the end user requirement.
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In a bid to achieve the goals of socioeconomic progress with an increasing emphasis on strengthening transport infrastructure, road infrastructures are improving across the globe.
Significant investments are underway for new infrastructures and for the maintenance of existing infrastructure. For instance, World Bank, in March 2018, approved US$ 210 million for the rural connectivity project in Madhya Pradesh, India. In May 2018, World Bank approved National Road 13 Improvement and Maintenance Project in Lao PDR.
Support from the World Bank and increasing public-private partnership is strengthening the connectivity between urban and rural markets through roads and highway connectivity. The essential requirement of construction equipment in such construction projects is expected to maintain the sustainability of asphalt pavers market in the future.
A steady economic growth combined with significant investments in construction projects is ensuring business optimism in the construction equipment marketplace. Inclusion of disruptive technologies is further changing the equipment landscape wherein customer preferences are changing dynamically.
Equipment finance companies are adopting innovative and tailored financing options to meet unique customer demand. Use of different platforms to perform periodic hardware diagnostics and innovative service agreements is fueling increasing equipment acquisitions in the asphalt pavers market.
Considering the cost-intensive nature of the product, end users of asphalt pavers usually prefer renting over owning the equipment. In road construction projects, asphalt pavers are used to complete the roadworks rapidly. Owing to the nature of temporary work in road and highway construction, equipment hire continues to be one of the prominent necessity as it saves significant capital investment.
In a bid to meet the growing demand for temporary equipment solutions, OEMs in the asphalt pavers market provide on-demand equipment rental solutions through their rental store distribution network.
The asphalt pavers market report delivers a dashboard view of all the key market players operating in the asphalt pavers marketplace. In addition, the competitive landscape section of the asphalt pavers market report provides company profiles that cover product offerings, company revenues, relative market presence, regional presence and notable business development undertaken by all the key companies.
Leading players in the asphalt pavers market are leveraging acquisition, new product launch and expansion strategies to increase their revenue share in the global asphalt pavers market.
In 2017, Fayat Group, a leader in the construction market acquired the Altas Copco, that manufactures asphalt pavers, rollers and other soil compaction equipment that are distributed under the trade name of Dynapac.
In the last quarter of 2017, the Wirtgen Group, a leading manufacturer of construction equipment including asphalt pavers, was acquired by Deere & Company. The acquisition was aimed at strengthening Deere & Company’s global presence in the agriculture and construction sectors.
Along with strengthening their global presence, manufacturers in the asphalt pavers market are introducing technologically advanced and more efficient asphalt pavers. For instance, in November 2017, Carlson, another leading provider of asphalt pavers, introduced the CP100 II, as the company’s flagship model that delivers enhance torque figures and Tier IV Final engine.
JOSEPH VÖGELE AG has announced in October 2018 restructuring of company’s asphalt pavers and screed range into two lines – the premium line and the classic line. Both the asphalt paver lines feature an amalgamation of cutting-edge technology and advanced mechanical engineering.
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