Asphalt and Concrete Equipment Market Report 2025

The asphalt and concrete equipment market size has grown strongly in recent years. It will grow from $11.82 billion in 2024 to $12.54 billion in 2025 at a compound annual growth rate (CAGR) of 6.1%. The growth during the historic period can be attributed to the increasing demand for road maintenance and repair activities, expanding industrialization, heightened emphasis on rural connectivity programs, accelerating urbanization, and growing awareness of sustainability and eco-friendly construction methods.

The asphalt and concrete equipment market size is expected to see strong growth in the next few years. It will grow to $15.65 billion in 2029 at a compound annual growth rate (CAGR) of 5.7%. The growth anticipated in the forecast period is driven by expanding infrastructure development, rising investments in road construction projects, growing demand for residential and commercial real estate, increased adoption of smart city initiatives, and escalating public and private infrastructure expenditures. Key trends expected in the forecast period include technological advancements in equipment automation, improvements in material mixing technologies, the development of energy-efficient and hybrid-powered machinery, innovations in self-loading concrete mixers, and progress in hydraulic and vibration systems.

The increasing infrastructure development is anticipated to drive the growth of the asphalt and concrete equipment market in the coming years. Infrastructure development involves the creation and enhancement of essential facilities and systems necessary for a society’s functioning, including roads, bridges, power, water supply, and communication networks. Economic growth fuels rising infrastructure development, as expanding industries and commerce demand improved transportation, energy, and communication systems for efficient operation. This development increases the need for asphalt and concrete equipment because large-scale construction projects require machinery for road building, paving, concrete mixing, and related activities. For example, in November 2023, the International Trade Administration, a US-based government agency, reported that infrastructure remains the strongest construction subsector in the UK, with output expected to increase by 4.6% in 2023. Furthermore, the UK government has reaffirmed its commitment to invest $127.4 billion in economic infrastructure between 2022-23 and 2024-25. Thus, growing infrastructure development is a key factor propelling the asphalt and concrete equipment market.

Leading companies in the asphalt and concrete equipment market are concentrating on developing innovative technologies, such as tracked asphalt pavers equipped with electronic paver management systems, to improve paving accuracy, fuel efficiency, and overall operational control for superior road construction performance. A tracked asphalt paver with an electronic paver management system is a high-performance paving machine that uses tracked mobility along with an integrated electronic system to optimize paving operations, enhance precision, and increase fuel efficiency. For instance, in June 2022, Volvo Construction Equipment, a Swedish company, launched the P7320 ABG track paver to boost efficiency and precision in road construction. It features a powerful 140 kW Volvo engine, an adaptive ECO mode for fuel savings, and intuitive controls, enabling high-quality asphalt paving up to 9 meters wide with a paving output of 700 tons per hour. It is designed to maximize productivity, lower operating costs, and ensure operator comfort and safety in challenging road construction projects.

In July 2024, FAYAT Group, a France-based construction company, acquired Asphalt Drum Mixers LLC for an undisclosed amount. Through this acquisition, FAYAT Group aims to enhance and expand its strategic position in the North American road construction and maintenance equipment market by capitalizing on synergies with its existing brands. Asphalt Drum Mixers LLC is a US-based manufacturer of asphalt and concrete equipment.

Major players in the asphalt and concrete equipment market are Caterpillar, Komatsu Ltd., Xuzhou Construction Machinery Group Co. Ltd., SANY Heavy Industry Co. Ltd., Volvo Construction Equipment AB, FAYAT Group, Astec Industries Inc., Ammann Group Holding AG., Weiler Corporation, Schwing Stetter India Private Limited, CASE Construction Equipment, Apollo Inffratech Private Limited, Leeboy, Sumitomo Construction Machinery Co. Ltd., Alltech Industries India Pvt. Ltd., MEKA Concrete Batching Plants, Lintec And Linnhoff Holdings Pte Ltd., Blaw-Knox Corporation, HANTA MACHINERY Co. Ltd., and Prem Industries.

Asia-Pacific was the largest region in the asphalt and concrete equipment market in 2024, and it is expected to be the fastest-growing region in the forecast period. The regions covered in asphalt and concrete equipment report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the asphalt and concrete equipment market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Note that the outlook for this market is being affected by rapid changes in trade relations and tariffs globally. The report will be updated prior to delivery to reflect the latest status, including revised forecasts and quantified impact analysis. The report’s recommendations and conclusions sections will be updated to give strategies for entities dealing with the fast-moving international environment.

The rapid escalation of U.S. tariffs and the resulting trade tensions in spring 2025 are significantly impacting the construction sector, particularly in materials procurement and project costs. Higher duties on imported steel, aluminum, lumber, and machinery have driven up expenses for builders, contractors, and infrastructure developers, leading to increased project bids and delayed timelines. Construction equipment manufacturers face similar challenges, with tariffs on essential components and raw materials inflating production costs and squeezing margins. Additionally, retaliatory tariffs in international markets have curtailed exports of U.S.-made construction equipment and materials, further affecting profitability. The sector must now prioritize local sourcing, modular construction techniques, and supply chain diversification to control costs and ensure project viability amid ongoing trade uncertainties.

Asphalt and concrete equipment are specialized machines used for preparing, applying, and finishing paving materials. These machines are designed to efficiently handle large volumes, ensuring consistency and durability in construction projects. They are essential in infrastructure development by enhancing both speed and accuracy.

The primary types of asphalt and concrete equipment include asphalt batch mix plants, concrete road pavers, concrete block making machines, concrete pipe making machines, self-loading concrete mixer machines, and others. An asphalt batch mix plant is equipment that produces asphalt in precise batches by blending aggregates, bitumen, and fillers for road construction purposes. These machines operate on various power sources such as electric, diesel, gasoline, hybrid, and solar, and come in different sizes, including small-scale, medium-scale, large-scale, and portable models. They find wide application in road construction, airport runways, parking lots, bridges, industrial sites, and residential properties, serving end-user industries such as commercial, infrastructure, residential, industrial, government, and repair and maintenance sectors.

The asphalt and concrete equipment market research report is one of a series of new reports that provides asphalt and concrete equipment market statistics, including the asphalt and concrete equipment industry's global market size, regional shares, competitors with the asphalt and concrete equipment market share, detailed asphalt and concrete equipment market segments, market trends and opportunities, and any further data you may need to thrive in the asphalt and concrete equipment market. This asphalt and concrete equipment market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The asphalt and concrete equipment market consists of sales of asphalt batch mix plants, drum mix plants, and concrete block making machines. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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