Paving Machine Market Definition
Paving machines are special purpose machines, used in building concrete roads, pavements, and sidewalks. These are self-propelling machines that have a hopper, auger, and a screed. Paving machines have played a significant role in the road and pavement construction industry. Paving equipment is versatile in nature and can handle several types of construction material such as asphalt, concrete, bricks, and solid blocks. It lays the asphalt flat and provides minor compaction before it is compacted by a roller.
The market study is broken down by Type (Mechanical Paving Machine and Hydrostatic Paving Machine), by Application (Construction, Road and Other) and major geographies with country level splits.
Research Analyst at AMA estimates that China Manufacturers will contribute to the maximum growth of Global Paving Machine market throughout the predicted period.
Wirtgen Group (Germany), AB VOLVO (Sweden), Atlas Copco (Sweden), CAT (United States), FAYAT (France), SUMITOMO (Japan), ST Engineering (Singapore), HANTA (Japan), XCMG (China) and SANY (China) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research are JiangSu Huatong Kinetics (China), ZOOMLION (China), Xinzhu Corporation (China), DingshengTiangong (China) and LiuGong (China).
AdvanceMarketAnalytics has segmented the market of Global Paving Machine market by Type, Application and Region.
On the basis of geography, the market of Paving Machine has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Mounting, the sub-segment i.e. Wheel Paving Equipment will boost the Paving Machine market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Material, the sub-segment i.e. Asphalt Paving Equipment will boost the Paving Machine market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Leaders and their expansionary development strategies
On October 7, 2019, the Fayat Group acquired Fouchard, a company specializing in the design and installation of air conditioning, engineering systems, into the Fayat Group.
- Improved features from larger pavers are starting to be seen on smaller equipment and, are even becoming standard for the small and mid-sized pavers.
- Rapid urbanization and an increase in spending on road infrastructure and construction projects are some of the key factors driving the growth of the market.
- Reduced Cost of Construction owing to Optimum Use of Materials and Precise Construction
- Growing Infrastructure Development in Emerging Economies and Next-Generation Workplace
- Technological Advancements in Paving Machine Manufacturing
- High Cost of the Equipment owing to Latest Features and Technology
- High Investments Required for Research & Developments
Key Target AudiencePaving Machine Manufacturers, Government Organizations, Construction & Material Companies, Traders/Exporters/Importers/Distributors and Industrial Bodies and Associations
About ApproachThe research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from total available market.
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