Asphalt and concrete equipment refers to the machinery and tools used in the preparation, mixing, transportation, placing and finishing of asphalt and concrete materials for construction purposes. These machines are vital to a wide range of construction applications, such as roads, highways, airport runways, parking lots, bridges, industrial zones and residential developments.
The asphalt and concrete equipment market consists of sales of asphalt and concrete equipment used in production, transportation, placement, compaction and finishing of asphalt and concrete materials in construction projects.
The global asphalt and concrete equipment market reached a value of nearly $11,820.41 million in 2024, having grown at a compound annual growth rate (CAGR) of 3.96% since 2019. The market is expected to grow from $11,820.41 million in 2024 to 15,137.89 million 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 $18,916.88 million in 2034.
Growth Of Smart City Projects
During the historic period, the asphalt and concrete equipment market was mainly driven by the growth of smart city projects. The development of smart cities required extensive urban infrastructure, including modern roads, pavements and public spaces, which in turn increased the demand for advanced asphalt and concrete machinery. This was particularly crucial as urban populations expanded and governments focused on creating sustainable, citizen-friendly and technology-enabled urban environments. For instance, in December 2023, according to the National Institute of Standards and Technology, a US-based national metrology institute, the NIST global community technology challenge (GCTC) presented three innovative smart city projects at the Smart Cities Connect conference in Washington, D.C. These projects demonstrated efforts by cities to enhance transparency and improve access to information between local governments and residents, positioning them as models for other communities. Additionally, in April 2023, according to the IMD Smart City Index Report, a Switzerland-based business school, the number of smart cities worldwide increased from 118 cities in 2021 to 141 cities in 2023. Therefore, the asphalt and concrete equipment market was mainly driven by the growth of smart city projects.
Integration Of Automation And GPS Systems In Concrete Road Pavers
Key companies in the asphalt and concrete equipment market are increasingly integrating global positing system (GPS), automation and advanced control systems into concrete road pavers to improve precision, quality and efficiency. These innovations enable real-time monitoring, reduced human error and better smoothness of pavement. For instance, in July 2025, Wirtgen, a Germany-based road machinery manufacturer, revealed its SP 33 slipform concrete paver, featuring AutoPilot 2.0 stringless paving, modular design and an ECO-mode to reduce fuel usage. This paver is aimed at large highway projects where precision and operational efficiency matter. By introducing SP 33, Wirtgen seeks to serve contractors demanding high performance in multilane paving while lowering operating costs.
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.
Asphalt And Concrete Equipment Global Market Opportunities And Strategies To 2034 from The Business Research Company 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.
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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 from The Business Research Company 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 Types
- 2) 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 segmentations: 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.