This report describes and explains the asphalt and concrete equipment market and covers 2019-2024, termed the historic period, and 2024-2029, 2034F termed the forecast period. The report evaluates the market across each region and for the major economies within each region.
The global asphalt and concrete equipment market reached a value of nearly $11.82 billion in 2024, having grown at a compound annual growth rate (CAGR) of 3.96% since 2019. The market is expected to grow from $11.82 billion in 2024 to 15.13 billion in 2029 at a rate of 5.07%. The market is then expected to grow at a CAGR of 4.56% from 2029 and reach $18.91 billion in 2034.
Growth in the historic period resulted from the growth of smart city projects, rising industrial infrastructure development, aging infrastructure replacement and labor shortage intensification. Factors that negatively affected growth in the historic period were high maintenance expenses and expensive equipment costs.
Going forward, the public infrastructure investment, surge in government-backed low-cost housing, stricter mandates and standards on construction quality and increasing residential and commercial construction will drive the growth. Factors that could hinder the growth of the asphalt and concrete equipment market in the future include dependency on power supply and fuel availability, seasonal and climate impacts and impact of trade war and tariff.
Asia Pacific was the largest region in the asphalt and concrete equipment market, accounting for 34.13% or $4.03 billion of the total in 2024. It was followed by North America, Western Europe and then the other regions. Going forward, the fastest-growing regions in the asphalt and concrete equipment market will be Africa and Asia Pacific where growth will be at CAGRs of 7.43% and 6.04% respectively. These will be followed by North America and Middle East where the markets are expected to grow at CAGRs of 5.04% and 4.80% respectively.
The global asphalt and concrete equipment market is fairly fragmented, with a large number of small players operating in the market. The top ten competitors in the market made up to 23.68% of the total market in 2024. Caterpillar was the largest competitor with a 7.54% share of the market, followed by Komatsu Ltd with 5.31%, Volvo Constrcution Equipment AB. with 3.29%, Wirtgen Group with 2.03%, Astec Industries Inc. with 1.42%, FAYAT Group with 1.17%, SANY Heavy Industry Co. Ltd. with 1.10%, Schwing Stetter India Private Limited with 0.70%, Zoomlion Heavy Industry Science & Technology Co., Ltd. with 0.66% and Weiler Corporation 0.47%.
The asphalt and concrete equipment market is segmented by type into asphalt batch mix plant, concrete road paver, concrete block making machine, concrete pipe making machine, self-loading concrete mixer machine and other types. The asphalt batch mix plant market was the largest segment of the asphalt and concrete equipment market segmented by type, accounting for 30.51% or $3.6 billion of the total in 2024. Going forward, the self-loading concrete mixer machine segment is expected to be the fastest growing segment in the asphalt and concrete equipment market segmented by type, at a CAGR of 6.52% during 2024-2029.
The asphalt and concrete equipment market is segmented by power source into electric, diesel, gasoline, hybrid and solar. The diesel market was the largest segment of the asphalt and concrete equipment market segmented by power source, accounting for 71.95% or $8.5 billion of the total in 2024. Going forward, the electric segment is expected to be the fastest growing segment in the asphalt and concrete equipment market segmented by power source, at a CAGR of 7.06% during 2024-2029.
The asphalt and concrete equipment market is segmented by equipment size into small-scale equipment, medium-scale equipment, large-scale equipment and portable equipment. The large-scale equipment market was the largest segment of the asphalt and concrete equipment market segmented by equipment size, accounting for 42.95% or $5.07 billion of the total in 2024. Going forward, the portable equipment segment is expected to be the fastest growing segment in the asphalt and concrete equipment market segmented by equipment size, at a CAGR of 6.65% during 2024-2029.
The asphalt and concrete equipment market is segmented by application into road construction, airport runways, parking lots, bridges, industrial sites and residential properties. The road construction market was the largest segment of the asphalt and concrete equipment market segmented by application, accounting for 49.16% or $5.81 billion of the total in 2024. Going forward, the parking lots segment is expected to be the fastest growing segment in the asphalt and concrete equipment market segmented by application, at a CAGR of 5.51% during 2024-2029.
The asphalt and concrete equipment market is segmented by end-user industry into commercial construction, infrastructure development, residential construction, industrial construction, government projects and repair and maintenance. The infrastructure development market was the largest segment of the asphalt and concrete equipment market segmented by end-user industry, accounting for 44.65% or $5.27 billion of the total in 2024. Going forward, the residential construction segment is expected to be the fastest growing segment in the asphalt and concrete equipment market segmented by end-user industry, at a CAGR of 5.63% during 2024-2029.
The top opportunities in the asphalt and concrete equipment market segmented by type will arise in the asphalt batch mix plant segment, which will gain $944.29 million of global annual sales by 2029.
The top opportunities in the asphalt and concrete equipment market segmented by power source will arise in the diesel segment, which will gain $2.09 billion of global annual sales by 2029. The top opportunities in the asphalt and concrete equipment market segmented by equipment size will arise in the large-scale equipment segment, which will gain $1.15 billion of global annual sales by 2029. The top opportunities in the asphalt and concrete equipment market segmented by application will arise in the road construction segment, which will gain $1.68 billion of global annual sales by 2029. The top opportunities in the asphalt and concrete equipment market segmented by end-user industry will arise in the infrastructure development segment, which will gain $1.53 billion of global annual sales by 2029. The asphalt and concrete equipment market size will gain the most in the USA at $785.73 million.
Market-trend-based strategies for the asphalt and concrete equipment market include integrating global positing system (GPS), automation and advanced control systems, adoption of dry-cast automated systems, development of advanced compaction machines, developing advanced automatic block-making machines, focusing on high-performance pumps designed to meet the specific requirements of demanding construction projects, expanding their product portfolios with highly compact and versatile machinery, developing zero-emission and battery-powered asphalt and concrete machines and development of advanced asphalt mixing plants.
Player-adopted strategies in the asphalt and concrete equipment market include focus on expanding its business capabilities and operational capabilities through strategic partnerships and innovative product launch.
To take advantage of the opportunities, the analyst recommends the asphalt and concrete equipment market companies to focus on integrating automation and GPS in concrete and asphalt equipment, focus on adopting dry-cast automated systems in concrete pipe production, focus on advanced and sustainable compaction equipment, focus on high-efficiency automatic block-making equipment, focus on high-performance stationary concrete pumps, focus on compact and automated equipment for urban construction, focus on zero-emission and battery-powered equipment, focus on advanced, efficient and mobile asphalt mixing plants, focus on self-loading concrete mixer machines, focus on electric and hybrid-powered equipment, focus on portable asphalt and concrete equipment, expand in emerging markets, focus on expanding strategic distribution channels, focus on optimizing competitive and value-based pricing, focus on strengthening brand visibility and awareness, focus on driving demand through targeted marketing initiatives, focus on parking lot construction projects and focus on residential construction for market growth.
The global asphalt and concrete equipment market reached a value of nearly $11.82 billion in 2024, having grown at a compound annual growth rate (CAGR) of 3.96% since 2019. The market is expected to grow from $11.82 billion in 2024 to 15.13 billion in 2029 at a rate of 5.07%. The market is then expected to grow at a CAGR of 4.56% from 2029 and reach $18.91 billion in 2034.
Growth in the historic period resulted from the growth of smart city projects, rising industrial infrastructure development, aging infrastructure replacement and labor shortage intensification. Factors that negatively affected growth in the historic period were high maintenance expenses and expensive equipment costs.
Going forward, the public infrastructure investment, surge in government-backed low-cost housing, stricter mandates and standards on construction quality and increasing residential and commercial construction will drive the growth. Factors that could hinder the growth of the asphalt and concrete equipment market in the future include dependency on power supply and fuel availability, seasonal and climate impacts and impact of trade war and tariff.
Asia Pacific was the largest region in the asphalt and concrete equipment market, accounting for 34.13% or $4.03 billion of the total in 2024. It was followed by North America, Western Europe and then the other regions. Going forward, the fastest-growing regions in the asphalt and concrete equipment market will be Africa and Asia Pacific where growth will be at CAGRs of 7.43% and 6.04% respectively. These will be followed by North America and Middle East where the markets are expected to grow at CAGRs of 5.04% and 4.80% respectively.
The global asphalt and concrete equipment market is fairly fragmented, with a large number of small players operating in the market. The top ten competitors in the market made up to 23.68% of the total market in 2024. Caterpillar was the largest competitor with a 7.54% share of the market, followed by Komatsu Ltd with 5.31%, Volvo Constrcution Equipment AB. with 3.29%, Wirtgen Group with 2.03%, Astec Industries Inc. with 1.42%, FAYAT Group with 1.17%, SANY Heavy Industry Co. Ltd. with 1.10%, Schwing Stetter India Private Limited with 0.70%, Zoomlion Heavy Industry Science & Technology Co., Ltd. with 0.66% and Weiler Corporation 0.47%.
The asphalt and concrete equipment market is segmented by type into asphalt batch mix plant, concrete road paver, concrete block making machine, concrete pipe making machine, self-loading concrete mixer machine and other types. The asphalt batch mix plant market was the largest segment of the asphalt and concrete equipment market segmented by type, accounting for 30.51% or $3.6 billion of the total in 2024. Going forward, the self-loading concrete mixer machine segment is expected to be the fastest growing segment in the asphalt and concrete equipment market segmented by type, at a CAGR of 6.52% during 2024-2029.
The asphalt and concrete equipment market is segmented by power source into electric, diesel, gasoline, hybrid and solar. The diesel market was the largest segment of the asphalt and concrete equipment market segmented by power source, accounting for 71.95% or $8.5 billion of the total in 2024. Going forward, the electric segment is expected to be the fastest growing segment in the asphalt and concrete equipment market segmented by power source, at a CAGR of 7.06% during 2024-2029.
The asphalt and concrete equipment market is segmented by equipment size into small-scale equipment, medium-scale equipment, large-scale equipment and portable equipment. The large-scale equipment market was the largest segment of the asphalt and concrete equipment market segmented by equipment size, accounting for 42.95% or $5.07 billion of the total in 2024. Going forward, the portable equipment segment is expected to be the fastest growing segment in the asphalt and concrete equipment market segmented by equipment size, at a CAGR of 6.65% during 2024-2029.
The asphalt and concrete equipment market is segmented by application into road construction, airport runways, parking lots, bridges, industrial sites and residential properties. The road construction market was the largest segment of the asphalt and concrete equipment market segmented by application, accounting for 49.16% or $5.81 billion of the total in 2024. Going forward, the parking lots segment is expected to be the fastest growing segment in the asphalt and concrete equipment market segmented by application, at a CAGR of 5.51% during 2024-2029.
The asphalt and concrete equipment market is segmented by end-user industry into commercial construction, infrastructure development, residential construction, industrial construction, government projects and repair and maintenance. The infrastructure development market was the largest segment of the asphalt and concrete equipment market segmented by end-user industry, accounting for 44.65% or $5.27 billion of the total in 2024. Going forward, the residential construction segment is expected to be the fastest growing segment in the asphalt and concrete equipment market segmented by end-user industry, at a CAGR of 5.63% during 2024-2029.
The top opportunities in the asphalt and concrete equipment market segmented by type will arise in the asphalt batch mix plant segment, which will gain $944.29 million of global annual sales by 2029.
The top opportunities in the asphalt and concrete equipment market segmented by power source will arise in the diesel segment, which will gain $2.09 billion of global annual sales by 2029. The top opportunities in the asphalt and concrete equipment market segmented by equipment size will arise in the large-scale equipment segment, which will gain $1.15 billion of global annual sales by 2029. The top opportunities in the asphalt and concrete equipment market segmented by application will arise in the road construction segment, which will gain $1.68 billion of global annual sales by 2029. The top opportunities in the asphalt and concrete equipment market segmented by end-user industry will arise in the infrastructure development segment, which will gain $1.53 billion of global annual sales by 2029. The asphalt and concrete equipment market size will gain the most in the USA at $785.73 million.
Market-trend-based strategies for the asphalt and concrete equipment market include integrating global positing system (GPS), automation and advanced control systems, adoption of dry-cast automated systems, development of advanced compaction machines, developing advanced automatic block-making machines, focusing on high-performance pumps designed to meet the specific requirements of demanding construction projects, expanding their product portfolios with highly compact and versatile machinery, developing zero-emission and battery-powered asphalt and concrete machines and development of advanced asphalt mixing plants.
Player-adopted strategies in the asphalt and concrete equipment market include focus on expanding its business capabilities and operational capabilities through strategic partnerships and innovative product launch.
To take advantage of the opportunities, the analyst recommends the asphalt and concrete equipment market companies to focus on integrating automation and GPS in concrete and asphalt equipment, focus on adopting dry-cast automated systems in concrete pipe production, focus on advanced and sustainable compaction equipment, focus on high-efficiency automatic block-making equipment, focus on high-performance stationary concrete pumps, focus on compact and automated equipment for urban construction, focus on zero-emission and battery-powered equipment, focus on advanced, efficient and mobile asphalt mixing plants, focus on self-loading concrete mixer machines, focus on electric and hybrid-powered equipment, focus on portable asphalt and concrete equipment, expand in emerging markets, focus on expanding strategic distribution channels, focus on optimizing competitive and value-based pricing, focus on strengthening brand visibility and awareness, focus on driving demand through targeted marketing initiatives, focus on parking lot construction projects and focus on residential construction for market growth.
Executive Summary
Asphalt and Concrete Equipment Global Market Opportunities and Strategies To 2034 provides the strategists; marketers and senior management with the critical information they need to assess the global asphalt and concrete equipment market as it emerges from the COVID-19 shut down.Reasons to Purchase:
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Description
Where is the largest and fastest-growing market for asphalt and concrete equipment? How does the market relate to the overall economy; demography and other similar markets? What forces will shape the market going forward? The asphalt and concrete equipment market global report answers all these questions and many more.The report covers market characteristics; size and growth; segmentation; regional and country breakdowns; competitive landscape; market shares; trends and strategies for this market. It traces the market’s history and forecasts market growth by geography. It places the market within the context of the wider asphalt and concrete equipment market; and compares it with other markets.
The report covers the following chapters:
- Introduction and Market Characteristics - Brief introduction to the segmentations covered in the market, definitions and explanations about the segment by type, by power source, by equipment size, by application and by end-user industry.
- Key Trends - Highlights the major trends shaping the global market. This section also highlights likely future developments in the market.
- Growth Analysis and Strategic Analysis Framework - Analysis on PESTEL, end use industries, market growth rate, global historic (2019-2024) and forecast (2024-2029, 2034F) market values and drivers and restraints that support and control the growth of the market in the historic and forecast periods, forecast growth contributors and total addressable market (TAM).
- Global Market Size and Growth - Global historic (2019-2024) and forecast (2024-2029, 2034F) market values and drivers and restraints that support and control the growth of the market in the historic and forecast periods.
- Regional and Country Analysis - Historic (2019-2024) and forecast (2024-2029, 2034F) market values and growth and market share comparison by region and country.
- Market Segmentation - Contains the market values (2019-2024) (2024-2029, 2034F) and analysis for each segment by type, by power source, by equipment size, by application and by end-user industry in the market. Historic (2019-2024) and forecast (2024-2029) and (2029-2034) market values and growth and market share comparison by region market.
- Regional Market Size and Growth - Regional market size (2024), historic (2019-2024) and forecast (2024-2029, 2034F) market values and growth and market share comparison of countries within the region. This report includes information on all the regions Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa and major countries within each region.
- Competitive Landscape - Details on the competitive landscape of the market, estimated market shares and company profiles of the leading players.
- Competitive Benchmarking - Briefs on the financials comparison between major players in the market.
- Competitive Dashboard - Briefs on competitive dashboard of major players.
- Key Mergers and Acquisitions - Information on recent mergers and acquisitions in the market covered in the report. This section gives key financial details of mergers and acquisitions, which have shaped the market in recent years.
- Market Opportunities and Strategies - Describes market opportunities and strategies based on findings of the research, with information on growth opportunities across countries, segments and strategies to be followed in those markets.
- Conclusions and Recommendations - This section includes recommendations for military asphalt and concrete equipment providers in terms of product/service offerings geographic expansion, marketing strategies and target groups.
- Appendix - This section includes details on the NAICS codes covered, abbreviations and currencies codes used in this report.
Markets Covered:
1) By Type: Asphalt Batch Mix Plant; Concrete Road Paver; Concrete Block Making Machine; Concrete Pipe Making Machine; Self-Loading Concrete Mixer Machine; Other Types2) By Power Source: Electric; Diesel; Gasoline; Hybrid; Solar
3) By Equipment Size: Small-Scale Equipment; Medium-Scale Equipment; Large-Scale Equipment; Portable Equipment
4) By Application: Road Construction; Airport Runways; Parking Lots; Bridges; Industrial Sites; Residential Properties
5) By End-User Industry: Commercial Construction; Infrastructure Development; Residential Construction; Industrial Construction; Government Projects; Repair and Maintenance
Companies Mentioned: Caterpillar; Komatsu Ltd; Volvo Construction Equipment AB; Wirtgen Group; Astec Industries Inc.
Countries: Australia; China; India; Indonesia; Japan; South Korea; Bangladesh; Thailand; Vietnam; Malaysia; Singapore; Philippines; Hong Kong; New Zealand; USA; Canada; Mexico; Brazil; Chile; Argentina; Colombia; Peru; France; Germany; UK; Italy; Spain; Austria; Belgium; Denmark; Finland; Ireland; Netherlands; Norway; Portugal; Sweden; Switzerland; Russia; Czech Republic; Poland; Romania; Ukraine; Saudi Arabia; Israel; Iran; Turkey; UAE; Egypt; Nigeria; South Africa
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time Series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets; GDP proportions; expenditure per capita; asphalt and concrete equipment indicators comparison.
Data Segmentation: Country and regional historic and forecast data; market share of competitors; market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Companies Mentioned
The companies featured in this Asphalt and Concrete Equipment market report include:- Caterpillar
- Komatsu Ltd
- Volvo Construction Equipment AB
- Wirtgen Group
- Astec Industries Inc.
- FAYAT Group
- SANY Heavy Industry Co. Ltd.
- Schwing Stetter India Private Limited
- Zoomlion Heavy Industry Science & Technology Co., Ltd.
- Weiler Corporation
- Sumitomo
- Xuzhou Construction Machinery Group Co., Ltd.
- Astec Industries
- Ammann Group
- Sumitomo Heavy Industries, Ltd (SHI)
- Lintec & Linnhoff Holdings Pte Ltd.
- Hanta Machinery Co., Ltd.
- Volvo Construction Equipment
- Dynapac
- Zoomlion Heavy Industry Science & Technology Co., Ltd
- LiuGong Machinery Co., Ltd.
- Shantui Construction Machinery Co., Ltd
- Aimix Group Co., Ltd
- Conmat Heavy Industries Pvt Ltd
- LangFang D&G Machinery Technology Co., Ltd.
- Sakai Heavy Industries, Ltd
- HD Hyundai Construction Equipment Co Ltd
- CASE Construction Equipment
- BOMAG
- Atlas Copco AB
- Ammann Group Holding AG
- Blaw-Knox Corporation
- Leica Geosystems
- ALLU Global
- Asphalte Evolution
- Shreeji Earthmovers
- Bulldog Plant & Equipment Ltd
- Massenza S.r.l.
- Italfrese S.r.l.
- Asfalpasa
- GOMACO International Ltd
- Swepac
- Gurtner Baumaschinen AG
- Albin Borer AG
- Walo Bertschinger AG
- Kamet-Röbäcks
- ALTCON
- Scandinavian & Uk Machines AB
- Pittel+Brausewetter
- Tyrolit
- BB& Wolf BV
- Viabuild Asfaltwerken
- De Bruycker-Kemp
- Lutze Process Denmark ApS
- Putzmeister
- Fiori Group
- Liebherr
- Roos Groep
- Hexagon AB
- Fujian Tepai Machinery Co. Ltd.
- Lintec & Linnhoff
- Marini (Fayat Group)
- ELKON
- Columbia Machine Inc.
- Schwing Stetter
- Zoomlion
- Astec Industries
- Gencor Industries Inc
- ADM Asphalt Drum Mixers Inc
- Stepp Manufacturing
- DMI Asphalt Equipment LLC
- Power Curbers
- Liebherr Group
- Deere & Company
- CNH Industrial
- VT LeeBoy Inc
- GOMACO Corporation
- Cemen Tech
- Terex Corporation
- Roadtec Inc
- Ammann Group
- Lintec & Linnhoff
- Marini (Fayat Group)
- Astec Industries
- Liebherr
- Sany
- AMS Industrial Group
- Azar Pars Machinery Manufacturing Company
- Asphalt Alfa Ltd
- Crafco
- Middle East Development Co. Ltd.
- Meg Makina
- Meg Machinery
- Constmach
- Al Marwan Group
- TAMECO
- Harden Egy
- Egypt Company for Equipment
- Green Concrete Company LLC
- El Masria Mix
- Pi Makina Egypt
- PW Nigeria Limited
- Vinayak Equipments
- Aimix Group
- Kaushik Engineering Works
- Sonik Platinum Engineering Ltd
- Ammann Kenzam
- Quadra
- Putzmeister
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 643 |
| Published | November 2025 |
| Forecast Period | 2024 - 2034 |
| Estimated Market Value ( USD | $ 11.82 Billion |
| Forecasted Market Value ( USD | $ 18.91 Billion |
| Compound Annual Growth Rate | 4.8% |
| Regions Covered | Global |
| No. of Companies Mentioned | 110 |
