Asphalt Mixing Plant Market Projected to Expand at 3.1% CAGR to $2.69 Billion by 2034: Fact.MR Report

Strict environmental rules and sustainable infrastructure demands boost the use of advanced emission-control asphalt mixing plants.

ROCKVILLE, MARYLAND, UNITED STATES, June 17, 2024 /EINPresswire.com/ -- According to a recently updated research report by Fact.MR, the global asphalt mixing plant market is expected to reach US$ 1.99 billion in 2024 and has been evaluated to further expand at a CAGR of 3.1% from 2024 to 2034.

Key manufacturers of asphalt mixing plants have introduced innovations to enhance operator convenience. Companies are focusing on enhancing plant performance and integrating advanced technological solutions.

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Adequate transportation infrastructure plays a crucial role in both developed and developing countries, driving unprecedented demand for road infrastructure. Manufacturers of asphalt mixing plants utilize robust materials and structures to enhance performance capacity. Stringent environmental regulations and an increasing emphasis on sustainability in infrastructure development influence the adoption of asphalt mixing plants equipped with advanced emissions control and energy-efficient systems.

Increasing demand for improved road conditions and construction of new roads worldwide drives market growth. Construction equipment manufacturers invest in R&D for product innovation, increasing market competitiveness.

Key Takeaways from Market Study

• The global asphalt mixing plant market is analyzed to reach US$ 2.69 billion by the end of 2034.

• Sales of asphalt mixing plants in the United States are estimated at US$ 347.6 million in 2024.

• The market in South Korea is projected to reach US$ 169.2 million by the end of 2034.

• Demand for asphalt mixing plants in the United States is forecasted to rise at a CAGR of 3.1% from 2024 to 2034.

• China is set to capture a market share of 59.2% in East Asia in 2024.

• Demand for drum plants is estimated at a market value of US$ 1.13 billion in 2024.

“The global market for asphalt mixing plants is expected to grow steadily as governments prioritize developing new roads for better national connectivity. Rising asphalt production globally, particularly in countries such as India, Vietnam, and the Philippines, contributes to market growth,” says a Fact.MR analyst.

Key players highlighted in this report include Astec Industries Inc., Gencor Industries, Inc., NIKKO Co., Ltd., FAYAT Group, Aimix Group, Ammann Group, Asphalt Drum Mixers, Inc., Benninghoven GmbH & Co. KG, NFLG Inc., Sany Group, and Gongyi Santai Machinery Co., Ltd.

Stationary Batch Plants Preferred for Consistent Mix Quality

Stationary plants generate asphalt mixture in large quantities with a comprehensive set of equipment, streamlining all mixing processes into a single machine for user convenience. Well-adapted for blending modified, colored, and standard asphalt mixtures, these plants are ideal for various construction projects, including highway, airport, classified highway, port, and urban road construction. To ensure consistent mix quality, a stationary batch plant employs a processor to seamlessly integrate heating, feeding, screening, drying, and mixing components.

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Competition Analysis

Key competitors in the asphalt mixing plant market are developing portable asphalt mixing facilities that can be readily transferred. Other advancements, such as asphalt mixing devices that can use up to 100% recycled asphalt, have helped to cut the project's overall costs. As client preferences shift towards customisable items, there is a great deal of invention and development taking place to ensure optimum customer pleasure.

• In August 2022, Construction Partners, Inc. (ROAD), a vertically integrated civil infrastructure company specializing in road construction and maintenance across five southeastern states, announced the purchase of Southern Asphalt, Inc. Based in Conway, South Carolina, this acquisition added two hot-mix asphalt plants and over 200 employees to the Company's operations in the Myrtle Beach metropolitan area.

• Astec Industries entered into an agreement to acquire MINDS Automation Group (MINDS) in March 2022. MINDS is renowned for its expertise in plant automation control systems and cloud-based data management solutions tailored for the asphalt industry.

Explore More Related Studies Published by Fact.MR Research:

Recycled Asphalt Market: The global recycled asphalt market is estimated to be valued at US$ 7.6 billion in 2023 and it is forecasted to grow at a CAGR of 4.7% to reach US$ 12.0 billion by the end of 2033.

Asphalt Anti-Strip Market: The global asphalt anti-strip market, growing at a CAGR of 4.3%, is expected to increase from $202.9 million in 2022 to $310.6 million by 2032.

More Valuable Insights on Offer

Fact.MR, in its new offering, presents an unbiased analysis of the asphalt mixing plant market for 2019 to 2023 and forecast statistics for 2024 to 2034.
The study divulges the asphalt mixing plant market based on mobility (stationary, portable), type (drum plants, batch plants), and capacity (below 50 TPH, 50 to 150 TPH, 151 to 300 TPH, above 300 TPH), across seven major regions of the world (North America, Latin America, Western Europe, Eastern Europe, East Asia, South Asia & Pacific, and MEA).

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