At 4.0% CAGR, Middle East & Africa Asphalt Paver Market is Projected to be Worth US$ 210.35 Million by 2031, says Business Market Insights

According to Business Market Insights’ research, the Middle East & Africa asphalt paver market was valued at US$ 153.17 million in 2023 and is expected to reach US$ 210.35 million by 2031, registering a CAGR of 4.0% from 2023 to 2031. Key strategic initiatives by market players and development and emergence of electric asphalt paver are among the critical factors attributed to drive the Middle East & Africa asphalt paver market growth.

Key players operating in the Middle East & Africa asphalt paver market adopt strategies and developments such as product developments, new product launches, agreements, partnerships, acquisitions, and others to stay competitive in the global market. Following are a few strategies announced by the key market players.

• In December 2023, Ammann Group signed an agreement to acquire Volvo Construction Equipment’s (Volvo CE’s) global ABG Paver business. The acquisition aimed at strengthening the Ammann Group’s position in the Middle East & Africa asphalt paver market by expanding its distribution network and strengthening the product portfolio.
• In March 2023, LeeBoy launched a new asphalt paver machine named 8608 asphalt pavers. The new product consists of an efficient narrow conveyor management system and will be used in heavy commercial paving and large-volume paving application areas.
• In August 2023, Weiler launched two new commercial tracked asphalt pavers—120-HP P385C and 74-HP P285. The new products offer various new features, such as improved conveyor drive systems, variable speed and reversible conveyors, and reliable heat systems.

Such key strategies adopted by the players is expected to fuel the Middle East & Africa asphalt paver market growth.

On the contrary, high cost of manufacturing asphalt pavers and high maintenance cost hampers the growth of Middle East & Africa asphalt paver market.

Based on type, the Middle East & Africa asphalt paver market is bifurcated into wheeled asphalt pavers and tracked asphalt pavers. The tracked asphalt pavers segment held 69.1% market share in 2023, amassing US$ 105.78 million. It is projected to garner US$ 148.38 million by 2031 to register 4.3% CAGR during 2023–2031.

In terms of paving width, the Middle East & Africa asphalt paver market is bifurcated into below 2.5 meter, 2.5 to 5 meter, and above 5 meter. The 2.5 to 5 meter segment held 40.3% share of Middle East & Africa asphalt paver market in 2023, amassing US$ 61.79 million. It is anticipated to garner US$ 86.69 million by 2031 to expand at 4.3% CAGR during 2023–2031.

By country, the Middle East & Africa asphalt paver market is segmented into South Africa, Saudi Arabia, the UAE, and the Rest of Middle East & Africa. Our regional analysis states that the Rest of Middle East & Africa captured 38.9% share of Middle East & Africa asphalt paver market in 2023. It was assessed at US$ 59.36 million in 2023 and is likely to hit US$ 78.11 million by 2031, registering a CAGR of 3.5% during 2023–2031.

Key players operating in the Middle East & Africa asphalt paver market are AB Volvo, Astec Industries Inc, Caterpillar Inc, Sany Heavy Industry Co Ltd, Sumitomo Corp, XCMG Construction Machinery Co Ltd, Deere & Co, FAYAT GROUP, and Leeboy, among others.

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