According to a research report titled ‘Global Asphalt Plant Market Size study, by Capacity (Below 240t/h, 240t/h-320t/h, Above320t/h), by Application (Road Construction, Other Application) and Regional Forecasts 2020-2027’ available with Market Study Report, global asphalt market was worth USD 2.05 billion in 2019 and is anticipated to garner 2% CAGR through 2027, reaching a valuation of USD 2.39 billion by the forecast period end.
 

As per the research findings, increasing necessity for infrastructural constructions, as well as the growing production rate of crude oil are adding substantial traction to global asphalt plant market growth. Moreover, benefits like low installation costs and easy portability will continue to favor the use of asphalt plant for road development and other construction projects.
 

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For the unversed, asphalt is a type of concrete used in construction of railway tracks, roads, parking areas, sidewalks ports, and others. The material is usually made of various mixtures like binders and fillers which are efficiently produced with the help of asphalt plants (machinery and equipment). Manufacturers utilize asphalt plants, to produce hot mix asphalt (HMA)/blacktop using sand, aggregates, filler material and bitumen in specific proportions.
 

Elaborating on market growth restraints, the growing health issues due to emission exposure from asphalt plants is likely to be one of the primary factors impeding market growth in the ensuing years.
 

Moving on to the regional scope, global asphalt plant market research covers Asia Pacific, Europe, North America, and Latin America. Expert analysts cite that Asia-Pacific market is projected to exhibit a remarkable CAGR over the forecast period. This can be ascribed to rising number of road construction projects and high concentration of market vendors in the region. Moreover, increasing government support for infrastructural activities in developing countries such as India and China is also expected to bolster regional market growth in the upcoming years.
 

Considering the competitive landscape, major contenders in global asphalt plant market sphere are Marini S.p.A. (Fayat Group), Lintec Corp., Ammann Group Holding AG, Henan Roady Road Machinery Company Inc., Astec Industries Inc., Sany Heavy Industry Co., Ltd., CCCC Xi’an Road Construction Machinery Co., Ltd., Fujian Tietuo Machinery Co., Ltd., Wirtgen Group, and Nikko Co., Ltd.