Markings on the road plays an important role in road safety. Road marking provides safety information, such as vehicle positioning, road alignment, and other vital road information to drivers. Improper road marking can lead to serious injuries and even death and hence, road safety regulatory bodies of governments across the globe are taking important steps to ensure road safety.
Increasingly stringent safety standards that ensure road safety are prompting governments across the globe to take initiatives to provide proper road instructions. Road transport plays an important role in the development of a country, and it contributes considerably to the GDP of the country. Rise in number of road fatalities due to improper road marking is likely to offer significant opportunities to the road marking machine market. Furthermore, growing industrialization along with rapid urbanization are likely to boost the demand for road marking machines during the forecast period. However, auto manufacturers are providing latest technologies, such as blind spot detection and driver assistance systems, which are likely to reduce the number of road fatalities. This, in turn, is estimated to hamper the road marking machine market during the forecast period.
The global road marking machine market can be segmented based on type, operation type, application, and region. Based on type, the road marking machine market can be classified into self-propelled machine, hand-guided machine, and truck. Truck road marking machine provides better flexibility, enhances the safety for operators, and can be easily transported from one place to another. Therefore, demand for road marking trucks is rising and the segment is likely to dominate the road marking machine market during the forecast period.
In terms of operation type, the road marking machine market can be segregated into automatic, semi-automatic and other. Demand for high precision work and inclusion of sophisticated technologies, such as marking length control system and speed variation are estimated to boost the automatic segment of the market during the forecast period.
In terms of application, the road marking machine market can be bifurcated into road marking, car parking, and others. Road marking plays an important role in safety of drivers and it provide useful information through symbols. Furthermore, increasingly stringent safety norms for roads and driver safety coupled with development of road infrastructure in developing countries are likely to propel the road marking segment of the market during the forecast period. However, demand for road marking machines in the car parking segment is increasing in order to maintain road traffic. Therefore, the car parking segment is likely to offer significant opportunities to the road marking machine market during the forecast period.
In terms of region, the road marking machine market can be classified into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. Asia Pacific is a leading market and holds a prominent share of the global road marking machine market. Economies such as China, India, and Japan are investing heavily in the development of road infrastructure, such as ‘One Belt One Road’ in China, and development of national highway in India are expected to fuel the demand for road marking machines in Asia Pacific during the forecast period.
Key players operating in the road marking machine market are HOFMANN, BORUM A/S, Graco Inc., Road Maintenance Services Limited, Zhengzhou Dayu Machinery Co., Ltd., and Titan Tool Inc.
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