PUBLISHER: Grand View Research | PRODUCT CODE: 1376124
PUBLISHER: Grand View Research | PRODUCT CODE: 1376124
The global road marking machine market size is anticipated to reach USD 13.83 billion by 2030, expanding at a CAGR of 8.9%, according to a new report by Grand View Research, Inc.. Rapid globalization, industrialization, and urbanization along with technological developments are triggering the demand for high-quality infrastructure. With a view to achieve balanced regional economic growth governments across the world have increased their spending on infrastructure development.
Thus, rising investment in road infrastructure by key governments, specifically in emerging economies of APAC and CSA, are expected to propel the market over the forecast period. On the basis of product type, the market is segmented into manual, semi-automatic, and fully automatic machines. Manual machines are projected to account for the largest market share over the forecast period as they are used across various industries owing to ease of operation, compatibility with a variety of paint materials, and low operational cost.
On the basis of application, the market is segmented into road, car park markings, anti-skid, and other markings. Road markings was the largest application segment in 2018 and held 28.25% of the global market share. These markings includes line striping on highways, city roads, and sideways, among others. Car park markings is likely to be the fastest-growing segment with a CAGR of 10.5% over the forecast period owing to rising need for these markings at hotels, buildings, sideway car parking, and public car parking places.