20 May Asphalt Plants in India
The India bitumen market was valued at $2.8 billion in 2018, and is projected to reach $3.6 billion by 2026, growing at a CAGR of 2.8% from 2019 to 2026.
Bitumen is majorly used for Road construction activities in India which complies that the Road Construction Industry is going to witness a gradual rise over the years which brings us back to Asphalt Plants.
Construction of various national highways, expressways, and airport runways boosts the demand for bitumen across the country. Bitumen is processed into asphalt for road construction.
The sudden rise in the number of manufacturers of Road construction equipments has led to degradation in quality of machinery which has effected countless number of road projects due to the longer down time of Asphalt Plants and improper mix quality.
Whereas, in terms of volume, the market was valued at 4,127 units in 2018 and is anticipated to reach 4,831 units by 2027 thereby registering a CAGR growth rate of 1.8% from 2019 to 2027. The global asphalt plant market is experiencing exponential growth owing to the growing number of highway development projects.
Contractors are now looking at quality manufacturers and wish to buy products which are reliable and worth the money invested.
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