Paving and Concreting Equipment Market - Drivers and Forecast from Technavio

Technavio has published a new report on the global paving and concreting equipment market from 2017-2021.(Graphic: Business Wire)

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LONDON--()--Technavio analysts forecast the global paving and concreting equipment market to grow at a CAGR of close to 12% during the forecast period, according to their latest report.

The research study covers the present scenario and growth prospects of the global paving and concreting equipment market for 2017-2021. To determine the market size, the study considers revenue generated from sales of different types of paving and concreting equipment.

The research report by Technavio on global paving and concreting equipment market provides segmentation based on the product (compactor, paver, and concreting equipment) and geography (APAC, EMEA, and the Americas).

 
The global paving and concreting equipment market size is expected to reach USD 32.47 billion by 2021. APAC is the leading regional segment in the market, and is forecast to generate the highest revenue and maximum incremental growth through 2021.
 

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Technavio analysts highlight the following three factors that are contributing to the growth of the global paving and concreting equipment market:

  • Vertical growth in construction sector
  • Rapid urbanization
  • Emergence of smart cities

Vertical growth in construction sector

Many medium and large-sized cities across the globe are increasingly constructing skyscrapers and ultra-high-rise buildings, supported by rapid urbanization and economic growth. The large-scale construction of this type of buildings will propel the demand for paving and concreting equipment,” says Navin Rajendra, one of the lead analysts at Technavio.

High-rise construction projects propel the demand for a wide variety of equipment such as soil compactors, concrete pumps, and concrete distribution systems for successful completion. The vertical growth of the global construction sector is expected to fuel the demand for paving and concreting equipment during the forecast period.

Rapid urbanization

Globally, people seeking for better opportunities are causing a shift in the percentage of the total populace residing in urban areas. This is resulting in additional requirements for corporate office spaces, residential buildings, roads, sewage facilities, and transit systems. The number of mega-urban cities is steadily increasing, leading to rapid and advanced infrastructural development projects. Hence, the construction projects and rapid addition of infrastructure are leading to the growth of the paving and concreting equipment market.

Emergence of smart cities

Governments of countries such as Saudi Arabia, India, and Qatar are investing heavily in the development of smart cities to provide better transportation facilities, improved healthcare facilities, advanced technologies, and enhanced traffic management systems,” says Navin.

The key pillars of a smart city are the development of tourism infrastructure, buildings, utilities, transportation, healthcare, education, and telecom. These will boost the demand for equipment such as paving and concreting equipment during the forecast period, thereby driving market growth.

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About Technavio

Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.

Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, resellers, and end-users.

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Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770
www.technavio.com

Release Summary

Technavio analysts forecast the global paving and concreting equipment market to grow at a CAGR of close to 12% during the forecast period, according to their latest report.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770
www.technavio.com