PUBLISHER: Grand View Research | PRODUCT CODE: 1512046
PUBLISHER: Grand View Research | PRODUCT CODE: 1512046
The global asphalt mixing plants market size is anticipated to reach USD 6,610.1 million by 2030 and is projected to grow at a CAGR of 3.5% from 2024 to 2030, according to a new report by Grand View Research, Inc. The market is projected to observe increasing growth on account of rising investments in infrastructure including highways, expressways and bridges among others. These plants are used to mix bitumen and aggregates to form hot mix paving material. The asphalt mining plant consists of some key components such as aggregate and bitumen supply system, coal feeder and burner, dryer, dust collector, asphalt storage system, etc.
Governmental laws and requirements also influence the demand for high-quality asphalt. For projects building roads, regulatory agencies frequently set strict quality standards that contractors must follow. This promotes the use of modern asphalt mixing plants that can produce asphalt that complies with industry standards and meets these parameters, driving the demand for asphalt mixing plants' market revenue.
A combination of cement, gravel, tar, and a homogeneous mixture of sand finds its application in road construction, parking lots, and infrastructure. It boosts the demand for asphalt mixing plants in the market. Owing to the soaring investments by several governments, they are likely to propel road construction projects, which in turn is estimated to boost the demand for asphalt mixing plants across the globe.
Economic growth is another major driver, as it leads to increased investments in construction projects across residential, commercial, and industrial sectors, all of which rely heavily on asphalt for various applications. Moreover, environmental regulations and sustainability concerns are shaping the market, prompting companies to adopt eco-friendly asphalt mixing technologies that reduce emissions and energy consumption.
Asphalt mixing plant manufacturers are adopting several strategies, such as acquisitions, mergers, joint ventures, new product launches, and geographical expansion, to enhance market penetration and cater to changing technological demands from various end-use applications, including residential, commercial, and industrial applications.
In April 2024, Ammann unveiled the Alpine Drum Mix plant for asphalt production. This new counterflow drum mix plant is engineered for high production output, capable of handling high-capacity materials recycling between 300 and 600 tons per hour. The Alpine is versatile and suitable for various operations such as hot mix asphalt & recycled asphalt pavement mixes, accommodating up to 60% recycled content. It features a real-time tracking and analysis system to ensure consistent mix quality.