South & Central America Asphalt Paver Market Forecast to 2031 - Regional Analysis - by Type and Paving Width

The South & Central America asphalt paver market was valued at US$ 111.45 million in 2023 and is expected to reach US$ 135.22 million by 2031; it is estimated to register a CAGR of 2.4% from 2023 to 2031.

Key Strategic Initiatives by Market Players Fuel South & Central America Asphalt Paver Market

Key players operating in the South & Central America asphalt paver market adopt strategies and developments such as product developments, new product launches, agreements, partnerships, acquisitions, and others to stay competitive in the global market. Following are a few strategies announced by the key market players.

• In December 2023, Ammann Group signed an agreement to acquire Volvo Construction Equipment’s (Volvo CE’s) global ABG Paver business. The acquisition aimed at strengthening the Ammann Group’s position in the South & Central America asphalt paver market by expanding its distribution network and strengthening the product portfolio.

• In March 2023, LeeBoy launched a new asphalt paver machine named 8608 asphalt pavers. The new product consists of an efficient narrow conveyor management system and will be used in heavy commercial paving and large-volume paving application areas.

• In August 2023, Weiler launched two new commercial tracked asphalt pavers - 120-HP P385C and 74-HP P285. The new products offer various new features, such as improved conveyor drive systems, variable speed and reversible conveyors, and reliable heat systems.

Such key strategies adopted by the players is expected to fuel the South & Central America asphalt paver market growth.

South & Central America Asphalt Paver Market Overview

The asphalt paver market in South America is segmented into Brazil, Argentina, and the Rest of South America. For the last few years, industrialization has been growing at a significant rate, which has contributed a major share of the region's economic growth. The growing construction industry in the region, with a rising number of commercial and infrastructure construction, is driving the South & Central America asphalt paver market. Brazil and Argentina account for the majority of the demand for asphalt pavers in the region, owing to population increase, urbanization, economic growth, and government investments.

Furthermore, owing to low-cost labor, trade liberalization, and favorable government regulations, foreign companies are establishing factories and distribution hubs in developing countries of SAM. In 2024, IDB Invest announced investments of US$ 125 million for Colombia’s 5th generation infrastructure project. In 2022, the Uruguayan road project received US$ 137 million in funding from Posadas to build a motorway in the Southern part of the country. Such developments are driving the demand for construction machines, ultimately increasing the adoption of asphalt pavers in the region.

South & Central America Asphalt Paver Market Revenue and Forecast to 2031 (US$ Million)

South & Central America Asphalt Paver Market Segmentation

The South & Central America asphalt paver market is categorized into type, paving width, and country.

• Based on type, the South & Central America asphalt paver market is bifurcated into wheeled asphalt pavers and tracked asphalt pavers. The tracked asphalt pavers segment held a larger market share in 2023.
• In terms of paving width, the South & Central America asphalt paver market is categorized into below 2.5 meter, 2.5 to 5 meter, and above 5 meter. The above 5 meter segment held the largest market share in 2023.
• By country, the South & Central America asphalt paver market is segmented into Brazil, Argentina, and the Rest of South & Central America. The Rest of South America dominated the South & Central America asphalt paver market share in 2023.

AB Volvo, Astec Industries Inc, Caterpillar Inc, Sany Heavy Industry Co Ltd, Sumitomo Corp, XCMG Construction Machinery Co Ltd, Deere & Co, FAYAT GROUP, and Leeboy are some of the leading companies operating in the South & Central America asphalt paver market.

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