HVAC and Construction

uPVC Indian doors market to gain remarkable proceeds over 2017-2024, Maharashtra to drive the regional landscape

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The profitability quotient of Indian doors market is certain to escalate in the coming years, augmented by the thriving construction sector across the country. Driven by a plethora of factors such as growing Indian population demanding comfortable lifestyles, increasing public and private spending on refurbishment & construction activities, and encouraging governmental initiations toward infrastructural development, Indian doors industry size is expected to widen its horizon in the forthcoming years. In fact, estimates claim, private equity sector investment in real estate in India was over USD 6 billion in 2016.  As per a recent report put forth by IBEF (India Brand Equity Foundation), Indian real estate market is slated to record a massive valuation of USD 180 billion by 2020, another testament deemed to stimulate Indian doors industry trends in the coming years.

Maharashtra Doors Market Size, By Product, 2016 & 2024 (Thousand Units)
Maharashtra Doors Market Size, By Product, 2016 & 2024 (Thousand Units)

Over the past few years, there has been a significant transformation in consumers’ buying preferences with regards to artistic and aesthetics quotient, a factor that has brought innumerable innovations in door quality and texture. In this regard, it is prudent to mention that uPVC doors are creating a storm in the Indian doors industry, subject to their unique advantages such as better insulation, energy efficiency, thermal insulation, diversified color options, and minimum maintenance requirement. In fact, uPVC Indian doors market is expected to witness a y-o-y growth of 8% over 2017-2024. In addition to this, leading giants of Indian doors market are also investing in enhancing their product portfolio that not only claims technological incorporations but also are environmentally viable.

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KONE is considered as one of the forerunners in bringing eco-friendly to the Indian doors industry. The company offers a full range of industrial doors, loading bays, barriers, shutters for commercial and residential housing complexes. Reliable operation, durability, safety, and most importantly environmental competencies are some of the fortes that make KONE a renowned player in the Indian doors market. Some of the other renowned players in this space include Fenesta Building Systems, DORMA, Century, D. S. India, Duroplast Extrusions, Geeta Aluminum Company, Beautex, Kalco Alu-systems, Mahavir Aluminum, Sapa Building System, Reynaers Aluminum and Welltech Systems.

Speaking of geographical aspects, West Bengal, Delhi, and Maharashtra are some of the states where the industry observes quite profound growth. In fact, estimates claim that Maharashtra alone accounted for 12% of the overall Indian doors market share, having held a revenue of USD 180 million in the year 2016.  Strong pipeline of construction projects across residential, commercial, as well as industrial sectors has propelled the product demand in Maharashtra.  A crucial determinant that needs to be mentioned here- the state is the second most populous region of the country, a factor that has enabled it to be strong contributor toward the overall Indian doors industry share.  Another statistic that can be placed as a testament regarding the increasing refurbishment and maintenance activities in Maharashtra- as per the National population and housing survey of 2011, out of 3.36 crore registered houses in India, 2.98 crore were in Maharashtra. Taking into account these aforementioned aspects, Maharashtra is expected to continue to stand as a strong contender in the Indian doors market.

With the escalating construction space along and supportive government initiations toward manufacturing eco-friendly, fire resistant, weather proof doors for commercial and residential sectors, it is certain that Indian doors industry is all set to carve a lucrative path in the years ahead.  Experts believes that in the coming period, the business space will witness an influx of even more sustainable energy efficient doors. Having held a valuation of USD 1.2 billion in 2016, Global Market Insights Inc., forecasts Indian doors market size to exceed USD 2,800 million by 2024.

Author Name : Satarupa De

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North America beverage refrigeration market to lead the global landscape, regional revenue to surpass USD 1 billion by 2024

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The intelligent process cooling technique has led to a paradigm shift in beverage refrigeration market by bringing in significant operational efficacies. Realizing the substantial role cooling place in the overall beverage sector, manufacturing companies have brought forth a slew of innovative engineering concepts, generating a substantial momentum in the product spectrum of beverage refrigeration industry. One such example is of Frigel’s foray into the beverage refrigeration market with its highly-engineered refrigeration systems. Elaborating further, the company has engineered cooling system that performs precise beverage cooling with zero contaminants. This modular approach toward refrigeration includes application in maturation, syrup cooling, yeast cooling, fermentation, carbonation, cooling tunnels, and pasteurization. Frigel’s engineered refrigeration system with precise temperature control has significantly impacted the overall competitive landscape of beverage refrigeration market, which was valued at USD 3.6 billion in 2016.

North America Beverage Refrigeration Market, By Product, 2013-2024, (Thousand Units)
North America Beverage Refrigeration Market, By Product, 2013-2024, (Thousand Units)

Considering the rising demand for beverages, many manufacturing companies are offering a variety of products ranging from countertop beverage refrigerator, under counter beverage refrigerator, storage beverage refrigerator and milk coolers. The countertop beverage refrigerator is witnessing heavy demand especially amongst home makers & professional chefs, subject to its spacious design, bottom freezer drawer, and powerful filtered water dispenser features. As per the estimates, countertop beverage refrigeration market is estimated to witness a CAGR of 5.1% over 2017-2024, having generated revenue over USD 1.39 billion in 2016. The under counter beverage refrigerators on the other hand have also witnessed huge popularity, owing to their UV protected glass doors. This feature of under counter beverage refrigerator helps in extending product’s shelf life with minimum contamination and is thus widely used in storing beer, wine, water, juices, soda, and other drinks. Moreover, the product’s better shelving & temperature control features will further support its expansion in beverage refrigeration industry, having accounted over USD 1 billion in 2016.

Reportedly, in this fast-paced era, consumers are being more inclined toward packaged drinks, owing to its convenience and easy storage, which in turn has inflated the demand for beverage refrigeration market, at a global scale. In fact, statistics claim that the global consumption of packaged drinks was around 1.05 trillion liters in 2016 of which China consumed a major portion accounting for 178.6 billion liters. These figures bear a rather vivid testimony to the fact that the beverage refrigeration industry is overt to witness massive proceeds with the increasing consumption of packaged drinks. Global Market Insights, Inc. claims the overall beverage refrigeration market share to surpass USD 4.5 billion by 2024.

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Taking into account the geographical aspects, North America beverage refrigeration market is likely to dominate the overall regional landscape, with U.S. at the forefront. The rise in beverage refrigeration market share in the region can be primarily credited to the increasing consumption of refreshment drinks. The fact that U.S. liquid refreshment beverage market marked a volume coverage of over 33 billion gallons in 2016, makes it quite overt that the regional refrigeration business will carve a profitable roadmap over the forthcoming years. Reportedly, North America beverage refrigeration industry size is anticipated to generate a valuation of USD 1 billion by 2024.

Asia Pacific is yet another major growth avenue, driven by the growing retail & food business in the region. Accounting for more than 60% of the world population, APAC is estimated to procure more than two-third of the global beverages consumption by 2020 – a factor profoundly driving the regional industry expansion. Statistics claim APAC beverage refrigeration market to register a CAGR of 6.1% over 2017-2024.

Speaking of the competitive hierarchy, some of the renowned names in this industry include Whirlpool Corporation, Coca-Cola, General Electrics, KingsBottle, Kenmore, Daikin Industries, and Electrolux. The strategic landscape of this nascent yet fragmented business space will be strongly characterized by the entry of new players and heavy investments in M&As and product innovations. In terms of volume, beverage refrigeration market is projected to surpass 7.4 million units by 2024.

Author Name : Ojaswita Kutepatil

U.S. window and door frame market to carve out a profitable growth path over 2016-2024, driven by the robust demand for energy-efficient products

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One of the most acclaimed companies partaking in Germany window and door frame market share, Profin Group, has recently inaugurated its new plant in India and aims to make an investment of INR 100 crore in the project, in a bid to boost its production capacity. With the establishment of this plant, the production capacity of the company has increased by 2,000 tons. Profin’s move demonstrates that the adoption of the facility establishment and expansion strategy is likely to have a massive influence on window and door frame industry share. Speaking along similar lines, India has of late emerged as a major hub for the growth of uPVC based window and door market, given the extensive demand for the product across the expanding residential and commercial arenas. Major window and door frame market giants have also been resorting to establishing partnerships with raw material manufacturers, to further strengthen their position in the business. Masonite International Corporation for instance, recently acquired the U.S. based wholesaler and manufacturer of commercial and architectural wood and doors, A&F Wood Products, Inc.

China window and door frame market size, by application, 2012-2024 (USD Billion)
China window and door frame market size, by application, 2012-2024 (USD Million)

Nowadays, energy efficient windows and doors have been gaining mass popularity across myriad geographies, most prominently in the U.S. and some of the member nations of the European Union. Taking into account the growing deployment of energy efficient windows and doors, manufacturers in window and door frame industry have been striving to develop a wide portfolio of energy efficient frame styles with the appropriate materials. Additionally, they have been investing heavily to improve material performance in order to render weather resistance to the product. Speaking of which, some of the renowned players in window and door frame market are Pella, Schüco, YKK Corporation, Andersen Corporation, Sapa Building Systems, Eurocell, PGT, Reynaers, Atrium Windows & Doors, and Corialis.

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As the world treads on the path of renewable energy source adoption, energy efficient windows have been emerging as the next viable option for space heating and cooling. In U.S., a major percentage of the populace has been on a renovation spree, replacing traditional windows with energy efficient ones, to avoid high maintenance costs pertaining to the former. Thus, the surging number of refurbishment activities for enhancing thermal comfort, shelf life, cost effectiveness, and reducing energy usage is likely to fuel U.S. window and door frame market trends over the years ahead.

Currently, the automotive and aerospace sectors have been witnessing a paradigm shift in terms of window manufacturing. Owing to the shifting trends toward the adoption of fuel efficient vehicles, automakers and aircraft manufacturers have been looking forward to developing eco-friendly and light weight frames. The latter demands the usage of uPVC material pertaining to better thermal insulation capability and less weight density as compared to aluminum, which would also augment uPVC based window and door frame industry outlook.

In order to keep abreast of the escalating technological developments such as the Internet of Things and augmented reality, major companies partaking in window and door frame market share have been focusing on the customization of products. Andersen Windows’ E-Series, for instance, comprise a line of windows that can be personalized in a number of colors, patterns, or shapes. The adoption of luxury lifestyles pertaining to the increased per capita income of consumers, will thus, increase the demand for innovative door and window frames, which would subsequently have an impact on window and door frame market size, slated to generate a revenue of more than USD 130 billion by 2024.

Author Name : Sunil Hebbalkar

U.S. fire suppression market to garner remarkable profits over 2017-2024, product innovations to outline the competitive landscape

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Lifeline’s recent launch of the latest edition of Zero 3620 fire suppression system marks another lucrative journey for the car safety giant in fire suppression industry.  Post the gala success of its patent Zero 3620 fire suppression series, Lifeline, somewhere toward the end of 2016, introduced Zero 3620 Firemarshal, reported to be the advanced version of the original system. As claimed by the experts, this state-of-the-art fire suppression technology not only offers outstanding performance but also scores a competitive advantage with regards to its cost when compared with other FIA 8865 approved series. In addition to this, Zero 3620 Firemarshal also meets all the revised fire suppression standards of FIA 8865 and has been especially designed to be used with diesel, unleaded petrol, and E85 fuels, cite reliable sources. Thriving on the foundation of the escalating requirement of fire safety in commercial and industrial sectors, which has pushed leading companies to diversify their product portfolio, fire suppression industry size is certain to widen its horizon in the coming years.

U.S. Fire Suppression Market, By End-Use, 2016 & 2024 (Million Units)
U.S. Fire Suppression Market, By End-Use, 2016 & 2024 (Million Units)

 

As reported by Global Market Insights, Inc., fire suppression market size will exceed a valuation of USD 16 billion by 2024, with the overall target annual installation to surpass 500 million units by 2024. Tremendous increase in the number of fire accidents and hazards over the last couple of years across the globe is stupendously driving fire suppression market size. Validating this crucial fact- International Rescue Services in one of the latest reports estimated that over 60000 injuries and 20000 casualties were recorded in the year 2014, due to fire. Considering these compelling issues, stringent government norms have been mandated on workers associated with mining and petrochemicals sectors to maintain occupational safety and control loss of property, which again has proved to be a major driver for the global fire suppression market outlook.

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The U.S. government, for instance, has established NFPA (National Fire Protection Association) codes and protocols for the standardization of equipment and protection systems across the country. Undoubtedly, it has brought remarkable proceeds in the regional fire suppression market trends. U.S. is one of those fire-accident prone regions where the record is noticeably high. In fact, National Fire Protection Association, in its latest report, stated that in the year 2015, America accounted for almost 1,345,500 fire accidents. Strong positive outlook toward building safety codes along with growing incidence of fire hazards is expected to stimulate the product penetration in this country. If experts’ estimations are to be relied on, U.S. fire suppression industry is anticipated to exceed an annual installation of 150 million units in the coming seven years.

Europe is also claimed to be another lucrative ground for fire suppression market growth, with U.K at its foray.  In fact, U.K fire suppression industry, is estimated to witness a y-o-y growth of 3% over 2017-2024. Spreading awareness among the Europeans with regards to increasing adoption of fire protection system has fostered the regional market proliferation. Additionally, the European Commission estimates that approximately over 70000 people get hospitalized every year from fire hazards with a subsequent damage of almost USD 148.6 billion. Unfortunately, the percentage is increasing day by day, which proves to be a significant contributing factor contributing to the regional fire suppression market share. The British government in this regard, has taken substantial steps toward the development of workplace safety especially across residential and commercial sectors. For Instance, The BAFSA (British Automatic Fire Sprinkler Association) deals with building codes that standardize the installation, design, and sprinklers in residential complexes of U.K. The British government has also mandated that the premises with heavy electrical equipment should have installations of 5kg CO2 extinguisher. For fire suppression industry players, this is a vital factor to be taken into consideration.

Global fire suppression market is characterized by the participation of some of the renowned biggies like TYCO, Amerex Corporation, United Technologies Corporation, National Fire Equipment Ltd., SFFECO, Minimax, and Master Fire Preventions Ltd.  These giants are increasingly focusing on product innovations which are endowed with advanced technological affluences. For instance, Tyco, in the year 2015, introduced a novel ESFR pendent sprinkler for storage and warehouse application with an objective to strengthen its business position in the competitive landscape. Looking at the incessant effort taken by the leading companies toward the upgradation of their product portfolios along with consumers’ growing awareness toward fire safety, it is undeniable that fire suppression industry would profoundly enhance its profitability landscape over the forthcoming years.

 

Author Name :Satarupa De

APAC to dominate doors market over 2017-2024, escalating demand from the commercial sector to augment the regional growth

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The extensive expansion rate of the global construction sector has rightfully been touted as one of key driving forces of doors market worldwide. The global construction expenditure was pegged at a valuation on the higher side of USD 5 trillion in 2016 alone, while analysts predict that it is expected to grow at a rather substantial rate in the ensuing years. Given the persistent rise in global populace, the consequent requirement for comfortable housing does not exactly come as a surprise. Not to mention, the demand for stylish door and window components in accordance with the high-end luxury lifestyles of the contemporary urbane crowds is further catalyzing the revenue graph of doors market. According to estimates, global doors industry size was worth a colossal USD 90 billion in 2016 itself.

U.S. Doors Market Size, By Material, 2016 & 2024 (Million Units)
U.S. Doors Market Size, By Material, 2016 & 2024 (Million Units)

Companies partaking in doors market share have incessantly been on a roll since the last few years, to bring forth a rather unique, eco-friendly, and aesthetic brand portfolio that not only does justice to the product landscape of doors industry, but also bolsters the presence of these firms in this fraternity. Pella, for example, one of the most renowned firms in doors market, adhering to the demands and suggestions put forward by their loyal client and consumer base, homeowners, architects, and designers, has recently come up with two new Architect Series lines – the Architect Series Contemporary and Architect Series Reserve. The latter has been designed to have a more traditional, authentic look to an office space or home. The Architect Series Contemporary, on the other hand, has specifically been targeted toward both, the residential and commercial sectors, and encompasses integrated hardware systems and optional interiors. Pella’s launch is expected to create quite a stir in doors market – especially since the Architect Series Contemporary has been touted to emerge as one of hottest products in this fraternity in recent times. Bringing forth product innovations in the mainstream square thus, would have a proportional impact on doors industry, both, in terms of popularity as well as sales volume.

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An outline of door market trends in the Asia Pacific

The APAC region has been proclaimed to emerge as one of hottest investment grounds for doors industry players, which can be attributed to the thriving construction sector in the continent. As per statistics, the construction spending in APAC had been estimated to fall between USD 3 trillion to USD 4 trillion in 2016. In fact, APAC has been declared to be one of the most potential grounds for the growth of the construction sector, given the rapidly escalating populace and the subsequent demand for housing and infrastructure development. In effect, this has made APAC one of the most profitable avenues for doors market expansion, subject to the robust demand for door components across the residential and commercial zones.

In 2016 alone, APAC accounted for more than 40% of the overall doors industry share, with a revenue collection of close to USD 40 billion. This growth scale, as stated by analysts, can be rightly attributed to a plethora of factors, including changing consumer living standards, the subsequent demand for luxury homes, the rising tourism and hospitality sectors, and the overall significance of brand value. Pertaining to the demand for high-end luxury homes, increased requirement for energy-efficient architectural components, and the rapid rise in the construction of high-end hotels, spas, and resorts, APAC is expected to lead the business landscape over 2017-2024.

China has been touted to emerge as one of the most profitable growth grounds for APAC doors market, on account of the robust construction and urban development domains in the country. The nation in fact, held a major share of the construction spending of the continent in 2016. Recently, Japan’s acclaimed Lixil Group announced the sale of Permasteelisa, its Italy-based construction material subsidiary to China’s Grandland Holdings Group. The Chinese architectural design and decoration behemoth has apparently purchased the Italian firm for USD 548 million (approximately EUR 467 million), which would prove to be a marked acquisition in China doors market. In addition, the country has been experiencing an influx of novel infrastructural designs, which is certain to chart out a profitable growth chart for the regional doors industry.

As the demand for stylish, luxurious, yet eco-friendly doors will continue to be on a rapid incline, companies in doors market would be perpetually forced to come up with a wide range of unique products that would match the requirement of consumers in addition to being energy efficient, pertaining to ecological concerns. While this scenario presents a challenge to doors market players, it can somewhat also be considered a major catalyst for these companies to prioritize innovation above all. In consequence, this would create a rather lucrative growth chart for doors industry, propelling its profitability quotient to an elevated level. Validating this presumption is the target estimate compiled by Global Market Insights, Inc., which claims doors market size to be worth more than USD 140 billion by 2024.

Author Name : Saipriya Iyer

Unveiling welding equipment & consumables market growth across the Asia Pacific: India, China, and Japan touted to be the key revenue pockets

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Endowed with a profoundly vast application spectrum, welding equipment & consumables market stands to gain massive remuneration by the end of 2024, subject to its incredibly extensive demand. Almost all the major businesses inclusive of building & construction, automotive, oil & gas, aerospace, and transportation find the necessity to deploy welding equipment for a plethora of industrial processes. This humungous expanse of end-use sectors and the fact that every one of them has been depicting a consistently expanding growth rate, is a pivotal factor that is deemed to stimulate welding equipment & consumables market in more ways than one.

U.S. Welding Equipment & Consumables Market Size, by Product, 2013–2024 (USD Mn)
U.S. Welding Equipment & Consumables Market Size, by Product, 2013–2024 (USD Mn)

The demand for technologically advanced welding components across myriad end-use domains has prompted welding equipment & consumables equipment industry giants to come up with a unique range of innovative products equipped with highly efficient features. Miyachi America, a key firm partaking in welding equipment & consumables market share, for instance, had introduced the Miyachi MAWA-300A Micro TIG Welder in 2014 – an arc welder that is deployed for joining conductive and dissimilar materials. Over the years, this product has carved out a rather important place for itself in welding equipment & consumables industry, having found extensive applications across the automotive, medical equipment manufacturing, home appliance, and mobile manufacturing sectors.

Another very recent instance validating the prevalence of innovations in welding equipment & consumables market is Miller’s all-new ArcReach welding technology. This unique piece, developed by Miller Electric Mfg. Co. in 2017 has been designed to save two hours of a welder’s work/day thereby saving labor costs for companies. The product is equipped with the Cable Length Compensation and Adjust While Welding advancements, which are obtained by pairing ArcReach accessories with the power sourced of Miller’s XMT 350 FieldPro, inclusive of numerous feeder and remote options. With ArcReach tech, Miller has strategically consolidated its position in welding equipment & consumables industry.

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An articulate synopsis of Asia Pacific welding equipment & consumables market

Asia Pacific has been touted to be one of most remunerative growth avenues for welding equipment & consumables industry. One of the most vital reasons for this prediction is the robust expansion of the automotive and construction sectors in the region.  The year 2016 chronicled a commercial vehicle production of more than 811,000 in India, 3,698,000 in China, and 1,330,000 in Japan. These statistics are evidence enough to testify that the automotive sector has been experiencing profound growth across APAC. Given that the domain excessively deploys welding components in automobile manufacturing, it goes without saying that APAC welding equipment & consumables market would stand to gain immense profits from the automotive sector.

The construction sector in APAC has observed a high rise since 2010, pertaining to the vital drivers such as the ever-increasing population, subsequent demand for housing, and the rapidly rising rate of urbanization. As per statistics, APAC would contribute close to 50% toward the overall construction sector by 2020, having accounted for 40% in 2010. The robust pipeline of construction and infrastructure projects across countries such as India and China is certain to propel Asia Pacific welding equipment & consumables industry in the coming years. Estimates in fact, claim APAC to account for 40% of the overall welding equipment & consumables market share by 2024.

Welding equipment & consumables industry growth has been forecast to experience a slight hindrance in the ensuing years, primarily pertaining to the emergence of novel technologies such as friction stir welding, that is essentially deployed in the automotive sector. The technology encompasses the joining of two work pieces in the solid state with a non-consumable tool. Subject to its ease of operation and convenience of functionality, it has been gaining precedence in the aerospace, shipbuilding, and transportation domains, and is likely to hamper welding equipment & consumables market share. However, companies such as Miyachi America Corporation, ESAB Group, Senor Metals Private Limited, Lincoln Electric Company, Arcon, Panasonic Corporation, and Miller Electric, have been attempting to bring about a slew of technological interventions to combat the aforementioned constraints, to bring about a renewed dynamism in welding equipment & consumables industry. Subsequently, the introduction of modernistic welding procedures and distinguished products is certain to impact welding equipment & consumables market size, slated to cross USD 25 billion by 2024.

Author Name : Saipriya Iyer

APAC asphalt mixing plants market to witness potential growth prospects, road construction applications to spur the regional landscape

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Strong growth outlook in the civil construction industry has charted a profitable roadmap for asphalt mixing plants market over the coming years. The spurt in demand for asphalt is being significantly driven by the repair and construction segment, that builds the world’s asphalt driveways, tunnels, highways, bridges, and airport runways. The importance of good highways for the infrastructural development has strongly agitated the growth of asphalt mixing plants industry in several countries. In fact, speaking on statistical terms, more than 70% of the overall asphalt production is utilized for road developments across the globe. The developing countries with immense growth opportunities are expected to become significant hotspots for investment. Interestingly, asphalt mixing plants industry players are looking to tap the growing demand by launching innovative products with competitive technical properties. One such example is of the 2013’s collaboration of Ammann Research & Development Center with Apollo India Private Ltd, to innovate and manufacture asphalt pavers, soil compactors and asphalt mixing plants.

U.S. asphalt mixing plants market size, by process, 2013 – 2024 (USD Million)
U.S. asphalt mixing plants market size, by process, 2013 - 2024 (USD Million)

The governments of various Asian countries including China, Malaysia, Thailand, India, and Japan are financing huge amount of capital to develop road infrastructure as they act as catalyst to country’s development and economic growth. In 2016, Asia Pacific asphalt mixing plants market generated revenue over USD 2.5 billion and is foreseen to hold a major share of the market pie over the coming years. Owing to the robust growth in the countries of Asia Pacific and Latin America, asphalt mixing plants industry from road construction application generated revenue over USD 5.5 billion in 2016.

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Considering the energy efficiency factor, one of the key trends in asphalt mixing plants industry is the refinement of recycled asphalt pavement (RAP). The market for asphalt plant equipment with RAP are gaining considerable traction in the US and Europe, with China being on wild card. The asphalt mixing plants industry players are designing new plants to produce higher quality output and also handle the higher percentages of RAP. For instance, E-MAK, a Turkish company has been developing a novel concept to optimize the throughput of asphalt plant. This company has designed a unit called Sandry which dries the sand being used in the mix and thus reduce energy usage and improve the overall efficiency of the asphalt mixing plants. Thus, the growing demand for improving the operational efficiency and develop high end technical products is set to propel the growth of asphalt mixing plants industry size over 2017-2024.

The harmful gases and volatile organic compounds emitted from the asphalt mixing plants pose a major threat to the growth of this industry. The environment threats pertaining to asphalt components and its quality and usage are being strongly monitored by the agencies such as EAPA, NAPA, and Association of Asphalt Paving Technology, which may hamper the asphalt mixing plants market expansion. However, many asphalt mixing plants industry players are adopting the sustainable green technology and environment friendly raw materials to combat the pollution problems associated with asphalt mixing plants. This is set to create huge growth opportunities for the industry players to develop sustainable and eco-friendly materials with regards to asphalt mixing and grab lucrative growth avenues over the coming years. One such instance is of Local Self-Government Department of Thiruvananthapuram, India. In a move to adopt green technology, the LSGD used an emulsion-based mix in asphalt instead of hot bitumen for the construction of road. Globally, asphalt mixing plants industry is set to witness a remarkable growth trajectory with a CAGR estimation of 1.4% and exceed revenue generation of USD 7 billion by 2024.

Author Name : Ojaswita Kutepatil