Road Marking Machines Market to Hit the Market Value of US$ 11.83 Bn by 2027 with CAGR of 6.01% across the Forecast Period
According to a new market research report published by Brisk Insights “Road Marking Machines Market (Equipment Type – Self-propelled Machine, Hand-guided Machine and Truck; Operation Type – Automatic, Semi-automatic, Manual and others; Application – Road Marking, Car Parking, Anti-skid, Others) – Growth, Future Prospects and Competitive Analysis, 2019 - 2027”, the global road marking machines market expected to reach the market value of US$ 11.83 Bn in 2027 and is set to demonstrate promising CAGR of 6.01% across the forecast period through 2019 to 2027.
Road marking machines market expected to demonstrate the promising surge in following years, primarily due to rapidly growing urbanization across the world. Significant penetration of mechanized techniques in the road marking process expected to stimulate the demand for road marking machines across the forecast period. Similarly, infrastructure spending has instigated to rebound post global financial crisis and projected to grow significantly over the coming decade. Worldwide, road infrastructure spending expected to grow from US$ 837 Bn in 2018 to US$ 995 Bn by 2027. With growing investment in road infrastructure, demand for the road marking machine expected to grow with significant rate throughout the forecast period.
Overall road marking machines market segmented on the basis of machine type, operation type and application. In 2018, on the basis of application, market was dominated by road marking segment. The road markings primarily control and guide the traffic on highway. These markings serve as psychological barrier and indicate the description of traffic path and evade possible traffic hazards for safe functioning of traffic. Hence these markings play vital part to ensure smooth, safe and harmonious flow of traffic. Several types of road markings including transverse markings, object markings, longitudinal markings and other special markings warn the driver about hazardous locations on the road. With development in road infrastructure, segment expected to retain its dominant position among others. Based on the geography, Asia Pacific directed the road marking machines market globally in 2018. The market in the region strongly supported by Japan, China, India, and Australia among others. In 2018, road infrastructure investment in Asia Pacific accounted for US$ 504 Bn and expected to reach US$ 619 Bn by 2027.
Major players in the road marking machines market include STiM Group, Titan Tool Inc., Hofmann GmbH, Zhenjiang Winfar Transport Facilities Co. Ltd., Borum A/S, TATU Traffic Group, Graco, Inc., Automark Industries (India) Pvt. Ltd., Zhengzhou Dayu Machinery Co., Ltd. and RME Road Marking Equipment among others. The road marking machine manufacturers are primarily aiming at R&D activities to introduce advanced mechanism in the process. For instance, in September 2018, Titan Tool Inc. introduced innovative low-pressure spray foam gun, that enables high efficiency by operating at double the speed of other guns.
Browse the full report at https://www.briskinsights.com/report/road-marking-machines-market
The Global Road Marking Machines Market is Segmented into:
By Road Marking Machine type Segment (2017–2027; US$ Bn)
By Operation Type (2017–2027; US$ Bn)
By Application Segment (2017–2027; US$ Bn)
By Geography Segment (2017–2027; US$ Bn)
*Complete segmentation list is on report page