Paving and Concreting Equipment Market: Introduction
- Paving and concreting equipment are used to prepare and refurbish concrete and asphalt. A paving machine, also called as paver, is used to lay asphalt on roadways, bridges, walkways, and parking areas. Concreting equipment usually includes concrete batching plant, concrete mixers, and concrete pumps. A concrete batching plant is used for homogenous mixing and blending of concrete ingredients. Concrete mixers are divided into two major categories - batch mixers and continuous mixers.
Key Drivers of the Global Paving and Concreting Equipment Market
- Rapid urbanization and increasing investment in infrastructure development are driving the demand for paving and concreting equipment across the globe. Construction companies are increasingly preferring advanced machineries and tools for efficient execution of their projects. Private builders and government authorities use high-performance construction equipment to meet the infrastructure needs of emerging metropolitan areas.
- Furthermore, the introduction of new construction materials drives the demand for advanced construction machines. The need and compatibility of the machines may vary for different materials, and hence customers are looking for integrated solutions suitable to different applications that can minimize the maintenance cost and overall investment in equipment and machines.
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Opportunities in the Global Paving and Concreting Equipment Market
- Growing trend of automation and high demand for low maintenance and small size products is the key opportunity in the paving and concreting equipment market. Automatic equipment are viewed as cost-effective and an efficient alternative in recent years as it uses computerized programs for some operations. Furthermore, automation enables enhanced productivity and safety of workers.
COVID-19 Pandemic Impact on the Paving and Concreting Equipment Market
Major customers of paving and concreting equipment are from the construction industry and are using the services through rental channels. Customers and service providers are expected to renew and update the service contracts to face the economic crisis through mutual understanding and contribution. Furthermore, the progress of some projects is restricted due to the shortage of labor and the city-wide shutdowns.
Asia Pacific to Become a Major Market for Paving and Concreting Equipment by 2030
- By geography, the global paving and concreting equipment market is classified into South America (SA), North America (NA), Europe (EU), Middle East & Africa (MEA), and Asia Pacific (APAC).
- Country-level bifurcation of the North America market includes the forecast and analysis for the U.S., Canada, and Rest of North America. The country-level analysis and forecast of the Europe market covers the paving and concreting equipment market in the U.K., Germany, France, and Rest of Europe. The country-level analysis and forecast for the Asia Pacific market includes major countries in the region such as India, China, Japan, and Rest of Asia Pacific. Middle East & Africa country-level analysis and forecast for the paving and concreting equipment market includes GCC countries, South Africa, and Rest of Middle East & Africa. The South America paving and concreting equipment market is categorized into Brazil, and Rest of South America.
- Rapid urbanization has increased construction activities across developing countries of Asia Pacific. For instance, 50% of the demand for construction activities in India comes from the infrastructure sector, while the rest comes from industrial activities, residential and commercial development etc. Furthermore, different governments in the region have initiated numerous measures to boost urban infrastructure.
Key Players Operating in the Global Market
Key companies are heavily spending on R&D to launch advanced machines and equipment for paving and concreting. Most of the companies are focusing on regional expansion, mergers & acquisition, new product launches, and technological advancement in order to ensure the product offerings are according to the evolving needs of end-use industries. Further, strategic partnerships with dealers and distributors allow companies to serve customers in untapped markets.
Some of the major companies identified in the global paving and concreting equipment market are:
- GOMACO Corporation
- HEM Paving
- Rexcon LLC
- Power Curbers Inc
- Terex Corporation
- Allen Engineering Corporation
- BHAI Pumpcrete Pvt. Ltd.
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Global Paving and Concreting Equipment Market: Research Scope
Global Paving and Concreting Equipment Market, by Type
- Paving Equipment
- Asphalt Pavers
- Dump Trucks
- Concrete Pavers
- Pneumatic Compactors
- Sweeper/Broom Equipment
- Asphalt/Hot Oil Tank Trucks
- Others (Drump Compactors)
- Concreting Equipment
- Concrete Batching Plant
- Concrete Mixers
- Concrete Pump
- Others (Concrete Conveyor, etc.)
Global Paving and Concreting Equipment Market, by Application
- Highway Barriers
- Irrigation Ditches and Canals
- Commercial Parking Lots
- Others (Residential Streets, etc.)
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.