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In addition, growing demand for developing high-end technology products and equipment for improving operational efficiency shall be propelling asphalt mixing plants market size by 2024.
Asphalt mixing plants are mainly used to process asphalt to produce warm mix aggregate, which is used in road construction and repair activities. The major machinery and equipment used in an asphalt mixing plant market are cold aggregate supply system, drum dryer, coal burner, coal feeder, dust collector, hot aggregate collector, vibrating screen filter supply system, weighing and mixing system, control room, and asphalt storage. The usual production capacity of an asphalt mixing plant varies from 36 tons per hour (small sized portable plants) to as large as 400 tons per hour. In addition, growing demand for developing high-end technology products and equipment for improving operational efficiency shall be propelling asphalt mixing plants market size by 2024.
Sturdy growth indicators in infrastructure & construction industry shall be responsible for propelling asphalt mixing plants demand in the coming years. The steadily growing road repair and construction business across the globe will be accelerating product demand over the forecast timespan. Asphalt mixing plants are widely used in tunnels, highways, bridges and road construction projects. Furthermore, booming automobile industry in Asia Pacific, particularly China and India, is placing greater demand on countries’ roads, which will eventually increase road construction and repair projects in this region. Additionally, increasing asphalt production globally is likely to fuel the product demand over the forecast timeframe.
The raw materials in asphalt mixing plants market size are machines & equipment and asphalt. The environmental pollution caused depends on the type of process (batch and continuous) in asphalt mixing plants. Major companies are adopting environment-friendly and sustainable green technology to tackle the pollution problem.
Asphalt Mixing Plants Market, By Process
Batch asphalt mixing plants market led the global industry in 2016, in terms of revenue. It was worth more than USD 3.8 billion in the same year. This segment is likely to witness gains growing at CAGR over 1.2% in the forecast timespan. In batch production, the process is more flexible as the aggregate mixture can be changed for each batch produced. Another important feature of batch plants is the low running cost and low spare parts cost.
Continuous asphalt mixing plants market is further divided into counter-flow and parallel-flow. In addition, continuous plants segment shall grow at a CAGR more than 1.3% over the forecast duration. This growth can be attributed to ability to deliver superior hot mix asphalt quality and low fuel consumption. Counter-flow plants are likely to witness prominent gains due to structure and design that aids in better aggregates heating with lower pollutants emission.
Asphalt Mixing Plants Market, By Product
Stationary asphalt mixing plants market share constituted a major share of the global product industry in 2016. It was registered at more than USD 5.9 billion in 2016. The segment is likely to exhibit prominent gains due to huge volume production capacity and flexible equipment options. It is cost competitive and has stable operational capability as compared to portable (both, batch & continuous) plants.
Portable asphalt mixing plants shall grow at significant rate close to CAGR 1.5% in the coming years owing to the mobility convenience and compact structure that allows it to be mounted on steel foundations near construction sites.
Asphalt Mixing Plants Market, By Application
Global asphalt mixing plants market for road construction industry has registered at over USD 5.5 billion in 2016. The product market shall experience highest gains over the forecast timeframe owing to increased product usage in Asia Pacific and Latin American countries. Governments are increasing investments in construction sector to improve economy and public infrastructure in respective countries. This will eventually contribute towards asphalt mixing plants market size by 2024.
Asphalt Mixing Plants Market, By Region
Asia Pacific held a major chunk of global asphalt mixing plants market and in 2016, it had generated revenue more than USD 2.5 billion. This has been attributed to the growing infrastructure market in Asia Pacific from 7% to 8% over the next few years. Countries in this region are largely concentrating on road construction activities, as these act as catalysts to country's economic growth.
Latin America and Middle East & Africa shall show significant growth rate by 2024. Latin America market is likely to reach a CAGR of around 1.5% over the forecast timespan owing to huge capital investments from governments of Brazil and Mexico for improving the infrastructural scenario in this region.