Asphalt Plant Market Forecast 2031 – Growth and Trends

Asphalt Plant Market Size and Forecast (2021–2031), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: Type (Drum Plant and Batch Plant), Product (Stationary Plant and Portable Plant), Application (Road Construction, Aggregate Processing, and Others), and Geography

  • Report Code : TIPTE100000755
  • Category : Manufacturing and Construction
  • No. of Pages : 150

Asphalt Plant Market Size (2021-2031) and Regional Overview

Buy Now

The Asphalt Plant Market size is projected to reach US$ 6.7 billion by 2031 from US$ 5.2 billion in 2023. The market is expected to register a CAGR of 3.2% in 2023–2031. Rising awareness of mobile asphalt is one of the recent trends in the industry. These mobile plants are compact, thus offering high flexibility. Another trend in the industry is that traditional plants are now becoming more data-centric. Modern plants are using various IoT technologies that offer in-depth data on the production, temperature, and energy consumption of equipment.

Asphalt Plant Market Analysis

The adoption of the cold asphalt mix technology is growing rapidly. In this technology, the heating at the high-temperature step is totally removed, and used bitumen emulsion process is used. Further, the trends of asphalt recycling have increased in the past few years. Asphalt plant utilizes residue asphalt from the sites and uses it in their plant to produce new asphalt. This not only helps to reduce the overall operational cost but also helps in reducing overall carbon footprint. The global asphalt plant market is driven by a variety of factors, such as infrastructure activities globally and growing demand for construction equipment.

Asphalt Plant Market Overview

Owing to increased urbanization, the demand for infrastructure has increased rapidly. This has led to increased demand for the asphalt plant. Mobile/Portable asphalt plants are gaining traction owing to their benefits. Some of the benefits of these plants are reduced resource wastage. On-site preparation enables the usage of the exact required amount of materials that ultimately reduces the overall operation cost. In addition, the capital investments for these plants could be higher as it has low capacity and require small and medium machinery. The Asia Pacific dominates the global asphalt plant market, whereas the European region accounted for the second largest share in the global market. The increased government funding mainly drives the European market. The European Commission has allocated approximately US$ 30 billion for the transportation infrastructure. Such factors are driving the growth of the asphalt plants in the European region.

Customize Research To Suit Your Requirement

We can optimize and tailor the analysis and scope which is unmet through our standard offerings. This flexibility will help you gain the exact information needed for your business planning and decision making.

Asphalt Plant Market: Strategic Insights

Asphalt Plant Market
  • CAGR
    CAGR (2023 - 2031)
    3.2%
  • Market Size 2023
    US$ 5.2 billion
  • Market Size 2031
    US$ 6.7 Billion

Market Dynamics

GROWTH DRIVERS
  • Increasing spending for road infrastructure in the Asia Pacific
FUTURE TRENDS
  • Rising awarness for mobile plants
OPPORTUNITIES
  • Adoption of innovative technologies and sustainable production

Key Players

  • Ammann Group Holding AG Marini Marini Ermont SAE
  • Astec Industries Inc Benninghoven GmbH CO KG
  • Capious Roadtech Pvt Ltd
  • Fayat SAS
  • JSC Kredmash
  • NFLG INC
  • Nikko Co Ltd
  • Sany Heavy Industry Co
  • Ltd
  • and Speedcrafts Limited

Regional Overview

Regional Overview
  • North America
  • Europe
  • Asia-Pacific
  • South and Central America
  • Middle East and Africa

Market Segmentation

Market SegmentType
  • Drum Plant
  • Batch Plant
Market SegmentProduct
  • Stationary Plant
  • Portable Plant
Market SegmentApplication
  • Road Construction
  • Aggregate Processing
  • Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.

Asphalt Plant Market Drivers and Opportunities

Increasing spending for road infrastructure in the Asia Pacific

Due to increased industrialization and urbanization in the Asia Pacific region, the demand for road infrastructure has increased. Thus, governments in the region are spending heavily on the development of road infrastructure. For instance, as per the data published by the Alliance for Innovation and Infrastructure in February 2024, China spent approximately 5% of its GDP to develop its inland transport infrastructure in 2021. Such initiatives are driving the demand for asphalt, ultimately driving the asphalt plants in the Asia Pacific region.

Adoption of innovative technologies and sustainable production

The introduction of digital technologies for production plants has increased in the past few years. Many software companies are introducing innovative tools for the optimization of production processes. In addition, many companies such as Glencore and Astec are developing autonomous systems for the asphalt plants to minimize human intervention, ultimately reducing labor costs. Such technologies are expected to reduce operational costs and increase profits. Apart from the innovative technologies, the concept of green asphalt has emerged. Many studies are undergoing to replace bitumen with cellulose and bio-based lignin to produce asphalt. One of the main driving factors for the development of green asphalt is increased sustainability trends in the road construction sector.

Asphalt Plant Market Report Segmentation Analysis

Key segments that contributed to the derivation of the Asphalt Plant Market analysis are type, product, and application.

  • Based on type, the Asphalt Plant Market is divided into drum plants and batch plants. The drum plant segment held a larger market share in 2023.
  • By product, the market is segmented into stationary plants and portable plants. The stationary plant segment held the largest share of the market in 2023.
  • In terms of application, the market is road construction, aggregate processing, and others. The road construction segment dominated the market in 2023.

Asphalt Plant Market Share Analysis by Geography

The geographic scope of the Asphalt Plant Market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South America/South & Central America.

Asia Pacific region dominated the global asphalt plant market in 2023. Countries like China and India are investing aggressively in road construction infrastructure. India is estimated to grow with the highest CAGR during the projected owing to increased government spending on road infrastructure. For instance, as per the data published by the government in 2023, the expenditure in 2022-2023 has increased to approximately US$ 30 billion from US$ 8 billion in 2014.

Apart from the Asia Pacific, the growth of the asphalt plant is estimated to be high in the Middle East and Africa region. Middle Eastern countries like UAE and Saudi Arabia are expanding their construction sector notably.

Asphalt Plant Market Report Scope

Report Attribute Details
Market size in 2023 US$ 5.2 billion
Market Size by 2031 US$ 6.7 Billion
Global CAGR (2023 - 2031) 3.2%
Historical Data 2021-2022
Forecast period 2024-2031
Segments Covered By Type
  • Drum Plant
  • Batch Plant
By Product
  • Stationary Plant
  • Portable Plant
By Application
  • Road Construction
  • Aggregate Processing
Regions and Countries Covered North America
  • US
  • Canada
  • Mexico
Europe
  • UK
  • Germany
  • France
  • Russia
  • Italy
  • Rest of Europe
Asia-Pacific
  • China
  • India
  • Japan
  • Australia
  • Rest of Asia-Pacific
South and Central America
  • Brazil
  • Argentina
  • Rest of South and Central America
Middle East and Africa
  • South Africa
  • Saudi Arabia
  • UAE
  • Rest of Middle East and Africa
Market leaders and key company profiles
  • Ammann Group Holding AG Marini Marini Ermont SAE
  • Astec Industries Inc Benninghoven GmbH CO KG
  • Capious Roadtech Pvt Ltd
  • Fayat SAS
  • JSC Kredmash
  • NFLG INC
  • Nikko Co Ltd
  • Sany Heavy Industry Co
  • Ltd
  • and Speedcrafts Limited
  • Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.

Asphalt Plant Market News and Recent Developments

The Asphalt Plant Market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. The following is a list of developments in the market for asphalt plants and strategies:

  • Construction Partners, Inc. announced that it has acquired SJ&L General Contractor, LLC, a hot-mix asphalt and site work company headquartered in Huntsville, Alabama (Source: Construction Partners, Inc, Press Release/Company Website/Newsletter, 2024)
  • Astec showcased the RX-405 cold planer at the World of Asphalt/AGG1 2024 event in Nashville, Tennessee, which included the premier of its premium camera system capable of providing a bird’s eye view of the entire machine from the operator console.  (Source: Astec, Press Release/Company Website/Newsletter, 2024)

Asphalt Plant Market Report Coverage and Deliverables

The “Asphalt Plant Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:

  • Market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
  • Market dynamics such as drivers, restraints, and key opportunities
  • Key future trends
  • Detailed PEST/Porter’s Five Forces and SWOT analysis
  • Global and regional market analysis covering key market trends, major players, regulations, and recent market developments
  • Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments
  • Detailed company profiles
Report Coverage

Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered

Segment Covered

Type , Product , Application

Regional Scope

Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope

Country Scope

US, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina

Trends and growth analysis reports related to Manufacturing and Construction : READ MORE..