Asphalt Paver Market

Asphalt Paver Market Analysis, By Paver Type (Track Paver & Wheel Paver), By Screed Technology (Hydrostatics & Mechanical), and Region - Market Insights 2024 to 2034

Analysis of Asphalt Paver Market Covering 30+ Countries Including Analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more

Asphalt Paver Market Outlook (2024 to 2034)

The global asphalt paver market was valued at US$ 3,109.1 million in 2023 and has forecast to expand at a noteworthy CAGR of 5.1% to end up at US$ 5,360.4 million by 2034.

By distributing, shaping, and partially compacting asphalt layers to produce smooth and long-lasting surfaces, these machines are essential to the road construction process. Pavers for asphalt work by continuously distributing asphalt material, which is subsequently further compacted to the appropriate density and finish using large rollers.

Asphalt pavers play crucial role in civil engineering operations due to their ease of operation and laying of a road surface that must be in accord with the highest degree of fineness. These have enduring popularity for this reason as essential machines for almost all road construction projects around the world, due to their durability and ease of operation besides efficiency in laying asphalt.

One of the key reasons for increasing demand for asphalt pavers includes growing investments in road infrastructure. In 2023, investment in global road infrastructure remained at a drastically varied level across key countries, reflecting their varied priorities and economic capacities. China fronted global efforts in infrastructure investment, with a value of US$ 711.1 billion, underlining an aggressive infrastructure expansion strategy to support rapid urbanization and growth in the economy.

United States followed this with a recorded investment of US$ 113.7 billion, with its main intent to rehabilitate old infrastructure and make transport efficient. Japan invested US$ 33.9 billion, indicating an emphasis on sustaining high-quality infrastructure. European economies such as Germany, with US$ 16.8 billion in investments, and France, with US$ 10.7 billion worth, likewise stand out with upgrade investments and expansions into their road networks for better connectivity and sustainability.

Report Attributes Details
Asphalt Paver Market Size (2023A) US$ 3,109.1 Million
Estimated Market Value (2024E) US$ 3,252.1 Million
Forecasted Market Value (2034F) US$ 5,360.4 Million
Global Market Growth Rate (2024 to 2034) 5.1 % CAGR
East Asia Market Share (2024) 32.9%
China Market Growth Rate (2024 to 2034) 4.4% CAGR
Key Companies Profiled Ammann Schweiz AG; Astec Industries, Inc; Caterpillar Inc.; Deere & Company; Fayat Group; LiuGong Machinery; Mauldin Paving Products; SANY; Shantui Construction Machinery Co; Sumitomo Heavy Industries, Ltd; VT Leeboy Inc.; XCMG Construction Machinery Co., Ltd; Other Prominent Players.

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Historic Analysis (2019 to 2023) Vs Future (2024 to 2034) Pathway Analysis

Revenue of asphalt paver grew at a CAGR of 3.7% between (2019 to 2023). The global market for Asphalt Paver was valued at around US$ 3,109.1 million in 2023.

  • Short Term (2024 to 2027): Modernization in the technology of asphalt paving machinery will developed continuously due to efficiency in road construction projects with high accuracy, especially the development of automatic and semi-automatic pavers.
  • Medium Term (2027 to 2030): The asphalt paver market is likely to face stringent government regulations in Europe and other regions regarding emissions and fuel efficiency standards for construction equipment. These regulations will significantly affect market growth, pushing manufacturers to innovate and develop more energy-efficient and environmentally friendly pavers. This period may also see an increase in mergers and acquisitions as companies aim to consolidate resources, navigate regulatory challenges, and expand their product offerings.
  • Long Term (2030 to 2034): Growth in global road construction and infrastructure development along with continuous improvement in paving technology is likely to drive the market over the long term. Innovation in asphalt paver also involves the use of reclaimed material, new eco-friendly technologies that are contributing to the growth of the market through sustainable solutions for road constructions and repair works.

On the back of the aforementioned facts, the Asphalt Paver market anticipated to grow at a CAGR of 5.1% during the forecast period from 2024 to 2034, According to the Fact.MR, a market research and competitive intelligence provider.

Market Dynamics

What are the Factors Propelling Global Sales of Asphalt Paver?

“Airport Expansions to Drive Growth of Asphalt Paver Market”

According to the estimation done by ICAO, one of the major drivers in the asphalt paver market is the increase in global air traffic hence, due to this demand, most countries around the world are now investing hugely in the expansion of airports.

For instance, the Civil Aviation Administration of China intends to build up to 216 new airports before 2035, and this goes a long way in showing how mega the projects in infrastructure will be. These will go a long way in increasing the use of asphalt pavers in laying runways, taxiways, and other ancillary surfaces.

Works of expansion and modernization are on the way with the view to cope with constantly rising volumes of passengers and cargo; thus, one can say that in the near future, high-quality paving equipment will be highly sought after. The major growth in the asphalt paver market hence lies in airport construction, with great opportunities unfolding across regions that are witnessing rapid growth in the aviation sector.

What are the Challenges Encountered by Manufacturers of Asphalt Paver?

“Emerging Sustainable Alternatives Challenge Traditional Asphalt Paving”

The asphalt paver market increasingly faces competition from sustainable paving technologies due to a global focus on green building. United Nations Environment Program (UNEP) fosters the use of new kinds of permeable paving material that replace traditional asphalt that reduce runoff while recharging groundwater. On the other hand, concrete has found a durable alternative in for some applications.

Recent developments in material science have produced advanced bio-based binders and recycled materials that can reduce environmental impacts and perhaps offer cost savings. These alternatives are gaining traction as municipalities and developers focus on sustainable infrastructure, and may dampen demand for traditional asphalt paving. This trend toward greener paving options creates the most significant challenge facing the asphalt paver market as it seeks to adjust to changing preferences for more environmentally sensitive construction methods.

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Country-wise Insights

Why is Adoption of Asphalt High in the United States?

“Significant Investments in U.S. Infrastructure Boosting Asphalt Paving Projects”

The market in the United States estimated at US$ 567.3 million in 2024 and projected to expand at a CAGR of 3.6% through 2034. This market estimated to present an absolute opportunity of US$ 240.4 million from 2024 to 2034.

The Bipartisan Infrastructure Investment and Jobs Act of the United States in 2021 is an undertaking of gigantic proportions toward the renovation of the nation's infrastructure. With US$110 billion allocated for roads, bridges, and major infrastructure with a sure shot destination, the legislation underlines modernization needs in the transportation network across the country. A good percentage of this amount utilized in asphalt paving projects related to durable and sustainable road surfaces, which have emerged as an imperative need in the United States.

Why is India Lucrative Market for Asphalt Paver Manufacturers?

“Expansion of Transportation Infrastructure driving the Growth of Asphalt Paver”

The developing world, mainly developing countries, is investing hugely in infrastructure investments, and this presents a key opportunity for growth in the Asphalt Paver market. Indeed, the World Bank estimates that countries like India are investing hugely in infrastructure, with projects such as the National Infrastructure Pipeline promising to spend US$ 1.4 trillion between 2019 and 2025 on upgrading and building transportation networks like roads, highways, and airports.

In infrastructure development projects, this big size of projects will require massive amount of asphalt, hence leading to strong demand for advanced paving equipment. For instance, while developing nations continue to accelerate the pace of infrastructure development in order to drive economic growth and inter-region connectivity, the asphalt paver market projected to gain from such extensive programs. This growing demand portrays a lucrative market opportunity for the manufacturing and supplying community to support and capitalize on infrastructural improvements in emerging economies.

Category-wise Insights

Which is the Most Preferred Type for Asphalt Paver Market?

“Demand for Track Paver Due to Their Exceptional Stability and Versatility”

Track pavers are highly favored in the asphalt paver market due to their superior stability and performance. They projected to dominate the market, contributing 75.4% of the market revenue in 2024 and expected to reach a valuation of US$ 3,925.9 million by the end of 2034. Their ability to deliver consistent results and handle diverse construction and infrastructure projects makes them the preferred choice. The high demand for track pavers driven by their reliability in various conditions, making them essential for achieving high-quality road surfaces and paving performance.

Know thy Competitors

Competitive landscape highlights only certain players
Complete list available upon request

Competitive Landscape

Some of the key players operating in the asphalt paver industry include Ammann Schweiz AG, Astec Industries, Inc., Caterpillar Inc., Deere & Company, Fayat Group, LiuGong Machinery, Mauldin Paving Products, SANY, Shantui Construction Machinery Co, Sumitomo Heavy Industries, Ltd, & XCMG Construction Machinery Co., Ltd. Companies invest a considerable share of their revenue in R&D to solve issues and provide new services to attract new customers and survive in the market. Addressing issues specific to industries would result in the offerings being tailor-made by several companies that outcompete players.

  • In 2023, the Ammann Group announced the signing of an agreement to acquire from Volvo Construction Equipment the global ABG paver business. This transaction will most likely further extend the portfolio of the Ammann in the segment of road construction equipment.
  • In 2023, Caterpillar Inc. added new varieties to the Paving Products portfolio with a brand-new compact asphalt paver line of screeds. New models in this series include the Cat® AP400, AP455 Mobil-trac™, AP455 Steel Track, AP500, AP555 Mobil-trac, and AP555 Steel Track asphalt pavers with SE47 VT and SE50 VT tamper bar screeds.

Fact.MR's report has provided the details regarding price points of key manufacturers of Asphalt Pavers positioned across regions, sales growth, production capacity and speculative technological expansion.

Fact.MR has provided detailed information about the price points of key manufacturers of Asphalt Pavers positioned across regions, sales growth, production capacity, and speculative technological expansion, in the recently published report.

Segmentation of Asphalt Paver Industry Research

  • By Paver Type :

    • Track Paver
    • Asphalt Paver
  • By Operating Weight :

    • 5k-8k KG
    • 8k-12k KG
    • 12k-15K KG
    • >15K KG
  • By Screed Technology :

    • Hydrostatic
    • Mechanical
  • By Paving Width :

    • <1.5m
    • 1.5-2.5m
    • 2.5-5m
    • >5m
  • By Region :

    • North America
    • Latin America
    • Western Europe
    • Eastern Europe
    • East Asia
    • South Asia & Pacific
    • Middle East & Africa

Table of Content

  • 1. Executive Summary
  • 2. Industry Introduction, including Taxonomy and Market Definition
  • 3. Market Trends and Success Factors, including Macro-economic Factors, Market Dynamics, and Recent Industry Developments
  • 4. Global Market Demand Analysis 2019 to 2023 and Forecast 2024 to 2034, including Historical Analysis and Future Projections
  • 5. Pricing Analysis
  • 6. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034
    • 6.1. By Operating Weight
    • 6.2. By Paver Type
    • 6.3. By Screed Technology
    • 6.4. By Paving Width
  • 7. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Operating Weight
    • 7.1. 5k-8k KG
    • 7.2. 8k-12k KG
    • 7.3. 12k-15K KG
    • 7.4. >15K KG
  • 8. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Paver Type
    • 8.1. Track Paver
    • 8.2. Wheel Paver
  • 9. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Screed Technology
    • 9.1. Hydrostatic
    • 9.2. Mechanical
  • 10. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Paving Width
    • 10.1. <1.5m
    • 10.2. 1.5-2.5m
    • 10.3. 2.5-5m
    • 10.4. >5m
  • 11. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Region
    • 11.1. North America
    • 11.2. Latin America
    • 11.3. Western Europe
    • 11.4. Eastern Europe
    • 11.5. East Asia
    • 11.6. South Asia & Pacific
    • 11.7. MEA
  • 12. North America Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries
  • 13. Latin America Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries
  • 14. Western Europe Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries
  • 15. Eastern Europe Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries
  • 16. East Asia Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries
  • 17. South Asia & Pacific Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries
  • 18. MEA Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries
  • 19. Sales Forecast 2024 to 2034 by By Operating Weight, By Paver Type, By Screed Technology, and By Paving Width for 30 Countries
  • 20. Competition Outlook, including Market Structure Analysis, Company Share Analysis by Key Players, and Competition Dashboard
  • 21. Company Profile
    • 21.1. Ammann Schweiz AG
    • 21.2. Astec Industries, Inc
    • 21.3. Calder Brothers Corporation
    • 21.4. Caterpillar Inc.
    • 21.5. Fayat Group
    • 21.6. LiuGong Machinery
    • 21.7. SANY
    • 21.8. Shantui Construction Machinery Co
    • 21.9. Sumitomo Heavy Industries, Ltd
    • 21.10. VT Leeboy Inc.
    • 21.11. Wirtgen Group (Deere & Company)
    • 21.12. XCMG Construction Machinery Co., Ltd
  • 22. Assumption & Acronyms Used
  • 23. Research Methodology

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List Of Table

Table 01: Global Market US$ Mn & Unit Forecast by Region, 2019 to 2034

Table 02: Global Market US$ Mn & Unit Forecast by By Operating Weight, 2019 to 2034

Table 03: Global Market US$ Mn & Unit Forecast by By Paver Type, 2019 to 2034

Table 04: Global Market US$ Mn & Unit Forecast by By Screed Technology, 2019 to 2034

Table 05: Global Market US$ Mn & Unit Forecast by By Paving Width, 2019 to 2034

Table 06: North America Market US$ Mn & Unit Forecast by Country, 2019 to 2034

Table 07: North America Market US$ Mn & Unit Forecast by By Operating Weight, 2019 to 2034

Table 08: North America Market US$ Mn & Unit Forecast by By Paver Type, 2019 to 2034

Table 09: North America Market US$ Mn & Unit Forecast by By Screed Technology, 2019 to 2034

Table 10: North America Market US$ Mn & Unit Forecast by By Paving Width, 2019 to 2034

Table 11: Latin America Market US$ Mn & Unit Forecast by Country, 2019 to 2034

Table 12: Latin America Market US$ Mn & Unit Forecast by By Operating Weight, 2019 to 2034

Table 13: Latin America Market US$ Mn & Unit Forecast by By Paver Type, 2019 to 2034

Table 14: Latin America Market US$ Mn & Unit Forecast by By Screed Technology, 2019 to 2034

Table 15: Latin America Market US$ Mn & Unit Forecast by By Paving Width, 2019 to 2034

Table 16: Western Europe Market US$ Mn & Unit Forecast by Country, 2019 to 2034

Table 17: Western Europe Market US$ Mn & Unit Forecast by By Operating Weight, 2019 to 2034

Table 18: Western Europe Market US$ Mn & Unit Forecast by By Paver Type, 2019 to 2034

Table 19: Western Europe Market US$ Mn & Unit Forecast by By Screed Technology, 2019 to 2034

Table 20: Western Europe Market US$ Mn & Unit Forecast by By Paving Width, 2019 to 2034

Table 21: Eastern Europe Market US$ Mn & Unit Forecast by Country, 2019 to 2034

Table 22: Eastern Europe Market US$ Mn & Unit Forecast by By Operating Weight, 2019 to 2034

Table 23: Eastern Europe Market US$ Mn & Unit Forecast by By Paver Type, 2019 to 2034

Table 24: Eastern Europe Market US$ Mn & Unit Forecast by By Screed Technology, 2019 to 2034

Table 25: Eastern Europe Market US$ Mn & Unit Forecast by By Paving Width, 2019 to 2034

Table 26: East Asia Market US$ Mn & Unit Forecast by Country, 2019 to 2034

Table 27: East Asia Market US$ Mn & Unit Forecast by By Operating Weight, 2019 to 2034

Table 28: East Asia Market US$ Mn & Unit Forecast by By Paver Type, 2019 to 2034

Table 29: East Asia Market US$ Mn & Unit Forecast by By Screed Technology, 2019 to 2034

Table 30: East Asia Market US$ Mn & Unit Forecast by By Paving Width, 2019 to 2034

Table 31: South Asia & Pacific Market US$ Mn & Unit Forecast by Country, 2019 to 2034

Table 32: South Asia & Pacific Market US$ Mn & Unit Forecast by By Operating Weight, 2019 to 2034

Table 33: South Asia & Pacific Market US$ Mn & Unit Forecast by By Paver Type, 2019 to 2034

Table 34: South Asia & Pacific Market US$ Mn & Unit Forecast by By Screed Technology, 2019 to 2034

Table 35: South Asia & Pacific Market US$ Mn & Unit Forecast by By Paving Width, 2019 to 2034

Table 36: MEA Market US$ Mn & Unit Forecast by Country, 2019 to 2034

Table 37: MEA Market US$ Mn & Unit Forecast by By Operating Weight, 2019 to 2034

Table 38: MEA Market US$ Mn & Unit Forecast by By Paver Type, 2019 to 2034

Table 39: MEA Market US$ Mn & Unit Forecast by By Screed Technology, 2019 to 2034

Table 40: MEA Market US$ Mn & Unit Forecast by By Paving Width, 2019 to 2034

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List Of Figures

Figure 01: Global Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn & Unit Projection by By Operating Weight, 2019 to 2034

Figure 02: Global Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn & Unit Projection by By Paver Type, 2019 to 2034

Figure 03: Global Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn & Unit Projection by By Screed Technology, 2019 to 2034

Figure 04: Global Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn & Unit Projection by By Paving Width, 2019 to 2034

Figure 05: Global Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn & Unit Projection by Region, 2019 to 2034

Figure 06: North America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn & Unit Projection by By Operating Weight, 2019 to 2034

Figure 07: North America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn & Unit Projection by By Paver Type, 2019 to 2034

Figure 08: North America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn & Unit Projection by By Screed Technology, 2019 to 2034

Figure 09: North America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn & Unit Projection by By Paving Width, 2019 to 2034

Figure 10: North America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn & Unit Projection by Country, 2019 to 2034

Figure 11: Latin America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn & Unit Projection by By Operating Weight, 2019 to 2034

Figure 12: Latin America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn & Unit Projection by By Paver Type, 2019 to 2034

Figure 13: Latin America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn & Unit Projection by By Screed Technology, 2019 to 2034

Figure 14: Latin America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn & Unit Projection by By Paving Width, 2019 to 2034

Figure 15: Latin America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn & Unit Projection by Country, 2019 to 2034

Figure 16: Western Europe Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn & Unit Projection by By Operating Weight, 2019 to 2034

Figure 17: Western Europe Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn & Unit Projection by By Paver Type, 2019 to 2034

Figure 18: Western Europe Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn & Unit Projection by By Screed Technology, 2019 to 2034

Figure 19: Western Europe Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn & Unit Projection by By Paving Width, 2019 to 2034

Figure 20: Western Europe Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn & Unit Projection by Country, 2019 to 2034

Figure 21: Eastern Europe Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn & Unit Projection by By Operating Weight, 2019 to 2034

Figure 22: Eastern Europe Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn & Unit Projection by By Paver Type, 2019 to 2034

Figure 23: Eastern Europe Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn & Unit Projection by By Screed Technology, 2019 to 2034

Figure 24: Eastern Europe Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn & Unit Projection by By Paving Width, 2019 to 2034

Figure 25: Eastern Europe Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn & Unit Projection by Country, 2019 to 2034

Figure 26: East Asia Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn & Unit Projection by By Operating Weight, 2019 to 2034

Figure 27: East Asia Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn & Unit Projection by By Paver Type, 2019 to 2034

Figure 28: East Asia Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn & Unit Projection by By Screed Technology, 2019 to 2034

Figure 29: East Asia Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn & Unit Projection by By Paving Width, 2019 to 2034

Figure 30: East Asia Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn & Unit Projection by Country, 2019 to 2034

Figure 31: South Asia & Pacific Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn & Unit Projection by By Operating Weight, 2019 to 2034

Figure 32: South Asia & Pacific Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn & Unit Projection by By Paver Type, 2019 to 2034

Figure 33: South Asia & Pacific Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn & Unit Projection by By Screed Technology, 2019 to 2034

Figure 34: South Asia & Pacific Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn & Unit Projection by By Paving Width, 2019 to 2034

Figure 35: South Asia & Pacific Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn & Unit Projection by Country, 2019 to 2034

Figure 36: MEA Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn & Unit Projection by By Operating Weight, 2019 to 2034

Figure 37: MEA Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn & Unit Projection by By Paver Type, 2019 to 2034

Figure 38: MEA Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn & Unit Projection by By Screed Technology, 2019 to 2034

Figure 39: MEA Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn & Unit Projection by By Paving Width, 2019 to 2034

Figure 40: MEA Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn & Unit Projection by Country, 2019 to 2034

Know thy Competitors

Competitive landscape highlights only certain players
Complete list available upon request

- FAQs -

What was the Global Asphalt Paver Market Size Reported by Fact.MR for 2023?

The global Asphalt Paver market was valued at US$ 3,109.1 million in 2023.

What is the Estimated Valuation of the Asphalt Paver Market in 2034?

The market is expected to reach a valuation of US$ 5,360.4 million in 2034.

What Value CAGR did the Asphalt Paver Market Exhibit over the Last Five Years?

The historic growth rate of the Asphalt Paver market was 3.7% from 2019-2023.

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