Increasing road infrastructure on account of developing commercial, industrial, and residential sectors is the major growth driver for asphalt paver market in Latin America. Further, the respective countries governments have taken necessary measures to develop road infrastructure by intensively promoting the foreign investments in the areas of domestic as well as inter-state highway construction projects, which would play an important role in the growth of asphalt paver market in the region.
According to 6Wresearch, Latin America asphalt paver market revenue is projected to grow at a CAGR of 4.8% during 2017-22. Big pavers ranging 7,000-18,000 Kg leads the market volume share and expected to continue their dominance in future on account of expanding highway network across the region.
According to Ravi Bhandari, Assistant Manager, 6Wresearch, "Trend to prefer tracked over wheeled pavers is on rise in the Latin America along with 2.5-5m paving width being majorly preferred by consumers across the countries."
"Hydrostatic type also accounts for major volume share in Latin America due to efficient power output and safe design over mechanical types," Ravi further added.
According to Prakhar Srivastava, Research Associate, Research and Consulting, 6Wresearch, "Amongst all countries, Mexico accounted for the highest volume share in the Latin American region followed by Brazil and is expected to maintain its dominance in the forecast period due to ample number of upcoming projects such as $1.5 Billion Agua Negra road tunnel project, $100 Million
Queretaro - San Luis de Potosi road concession project and $650 Million La Galarza-Amatitlanes highway PPP project."
"Efficient government policies such as extension of PPP model in road maintenance and construction projects would have positive impact on construction equipment sales and would result in wide utilization of asphalt pavers across Latin America." Prakhar further added.
Some of the major companies in Latin America asphalt paver market include- Vogele, Bomag, Leeboy, Dynapac, Caterpillar and Volvo.
"Latin America Asphalt Paver Market (2017–2022)" provides in-depth analysis with 93 figures and 8 tables covered in more than 140 pages. The report estimates and forecast overall Latin America asphalt paver market by revenues, volume, type, technology and paving width of asphalt paver and countries. The report also gives the insights on competitive landscape, market share by companies, company profile, recent trends and developments, opportunities, market drivers and restraints.