Asphalt is a dark brown to black, thick mixture of heavy hydrocarbons that is a residue produced by crude oil refineries and through the destructive distillation of coal. It is primarily used for laying surfaces such as roads and playgrounds. Other applications of asphalt are found in waterproofing solutions and construction of parking lots and pedestrian paths. Asphalt mixing plants are machines consisting of a cluster of electronic and mechanical gears in which hot mix asphalt is produced. There are three main types of asphalt mixing plants, batch mix, drum mix, and continuous mix. The raw materials used in the manufacture of asphalt mixing plants are mainly iron and steel.
The infrastructure and construction sector has witnessed rapid growth during the past few years, which has driven the demand for asphalt mixing plants Market. The global asphalt mixing plants market is driven by fluctuations in the infrastructure sector, which is the key market for asphalt mixing plants. Prospects of construction activities is likely to propel movements in the asphalt mixing plants market. Fluctuations in road construction, repair, and maintenance sector are expected to impact the demand for asphalt mixing plants.
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Rising investments in infrastructure in developing countries are expected to boost the growth of the asphalt mixing plants market during the forecast period. Furthermore, economic growth across countries is driving governments to focus on improving public infrastructure, which is a major end-user segment of the asphalt mixing plants market. Moreover, rising sale of commercial and passenger vehicles are an indirect indicator of the positive outlook for the global asphalt mixing plants market. This is because more vehicles means more roads would be needed, and since road construction is one of the sectors where asphalt mixing plants are used, vehicles sales growth would positively impact the global asphalt mixing plants industry. The petroleum refinery industry is the source of raw material for asphalt mixing plants; therefore, rise in crude oil production is likely to augment the supply of raw material to the asphalt mixing plants market.
However, Environmental hazards, such as rising level of pollution from asphalt mixing plants, are anticipated to hinder the use of asphalt mixing plants in the next few years. As effects of global warming become more pronounced, it will become imperative for the manufacturing industry to adopt greener technologies to lessen the impact of its activities on the environment. In order to mitigate the challenge, manufacturers will have to increase investment in research and development to come up with new and innovative solutions. Availability of credit is another major concern of the market, as asphalt mixing sector comes under the infrastructure segment which requires huge amount of starting investment, along with sizeable working capital.
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The global asphalt mixing plants market can be classified on the basis of plant type, end-user, and region. In terms of plant type, the market can be segregated into batch mix, drum mix, and continuous mix. Based on end-user, the global asphalt mixing plants market can be segmented into government sector and private construction companies. On the basis of region, the global asphalt mixing plants market can be categorized into North America, South America, Europe, Asia Pacific, and Middle East & Africa. Developing countries in these regions are expected to be the primary customers of asphalt mixing plants.
Atlas industries, Benninghoven, Kaushik Engineering works, Quality Products (India), Linhoff India Pvt. Ltd., Akona Engineering Private Limited, HP Tiles Machinery, Solmec Earthmovers Pvt. Ltd., 4B Construction Corporation, and Arky Construction and Supply are some of the prominent names in the global asphalt mixing plants market. Benninghoven is innovating its product mix and launching mobile asphalt mixing plants to ensure greater efficiency in terms of operation as well as mobility.