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Asphalt Pumps Market Size to Grow by USD 70.71 million| Gear Pumps Segment will have Major Market Share Growth| Technavio

Asphalt Pumps Market Size to Grow by USD 70.71 million| Gear Pumps Segment will have Major Market Share Growth| Technavio
Asphalt Pumps Market Size to Grow by USD 70.71 million| Gear Pumps Segment will have Major Market Share Growth| Technavio

NEW YORK, The “Asphalt Pumps Market by Product (Gear pumps, Screw pumps, and Vane pumps) and Geography (APAC, North America, Europe, South America, and Middle East and Africa) – Forecast and Analysis 2022-2026” will be driven by factors such as increasing investments in road infrastructure projects.

Asphalt is primarily used in roadway and highway pavements. It is mixed with aggregates and other additives to overlay a road. Moreover, it is preferred in road and highway construction owing to its significant strength and durability, thermoplastic nature, and waterproofing properties.

The potential growth difference for the asphalt pumps market size between 2021 and 2026 is USD 70.71 mn. To get the exact yearly growth variance and the Y-O-Y growth rate, Talk to our analyst.

Key Market Dynamics:

Market DriverMarket Challenges

The increasing investments in road infrastructure projects are driving the asphalt pumps market growth. For instance, in the US, the total investment in new transport infrastructure increased by 12.4% from 2016 to 2019. In addition, according to the data from the Organisation for Economic Co-operation and Development (OECD), annual investment in the transportation infrastructure industry grew by more than 37% during this period in China.

The availability of substitutes for asphalt is challenging the asphalt pumps market growth. Geopolymer cement concretes are considered alternatives to regular concretes. They are made using waste materials such as fly ash, ground granulated blast furnace slag, and silica fume. They exhibit high durability with enhanced resistance to chloride penetration and acid attack. Geopolymer cement concretes are used to construct pavements, water tanks, buildings, roadways, and highways.

Market Segmentation

The asphalt pumps market report is segmented by product into gear pumps, screw pumps, and vane pumps. The gear pumps segment will have significant market share growth during the forecast period. Gear pumps are mainly used in asphalt transfer, asphalt roofing, and asphalt emulsion applications. The rising rate of mechanization in the oil and gas downstream industry and construction industry are driving the growth of the segment. Moreover, globalization and urbanization have encouraged the asphalt industry to become more mechanized and less labor-intensive. This has led to the increased use of equipment such as gear pumps. Such factors are expected to boost the market growth during the forecast period.

By geography (APAC, North America, Europe, South America, and Middle East and Africa. APAC will be the leading region with 46% of the market’s growth during the forecast period. China and Japan are the key countries for the asphalt pumps market in APAC.

Some Companies Mentioned

AJAY ENGINEERINGApollo Mechanical IndustriesBotou Saiken Pumps Co. Ltd.CIRCOR International Inc.DESMI ASDover Corp.Erich NETZSCH GmbH and Co. Holding KGFluid Tech SystemsGebr. Steimel GmbH and Co.Hebei Yuandong Pumps Manufacturing Co. Ltd.IDEX Corp.Kracht Corp.Leistritz Advanced Technologies Corp.Roto Pumps Ltd.ShriMaruti Precision Engineering Pvt. Ltd.SPX FLOW Inc.TriRotor Inc.ULTRA POMPE SrlVictor Pumps SrlZhejiang Shanggui Pump Industry Co. Ltd.To gain access to more vendor profiles with their key offerings available with Technavio, Click Here

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Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies.

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