Asphalt Pumps Market Size, Share, Growth, And Industry Analysis, By Type (Gear Pump, Screw Pump, Rotary Vane Pump and Others), By Application (Refinery & Storage Tank, Asphalt Mixing Plant, Road Construction, Building and Coating and Seal Materials), Regional Forecast By 2031

Updated On: 29 April 2024

Asphalt Pumps Market Report Overview

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The global asphalt pumps market size was USD 746 million in 2021, as per our research, the market is expected to reach USD 1,243.50 million in 2031, exhibiting a CAGR of 5.17% during the forecast period.

The global COVID-19 pandemic has been unprecedented and staggering, with asphalt pumps experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden decline in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over. 

Asphalt is a substance that is frequently used to build pavements and roadways. Bitumen and aggregate are combined to make a tough and long-lasting surface, which is how it is made. The asphalt pump is one of the essential elements of asphalt. This pump is essential to the construction process because it is in charge of transporting the asphalt from one place to another. Asphalt is pumped from one place to another using equipment called asphalt pumps. Asphalt is a viscous, dark material that is frequently used in paving and roofing. When heated, asphalt turns into a liquid that is simple to pump. Both gasoline engines and electric motors are capable of powering asphalt pumps.

Positive displacement machines called asphalt pumps are used to transport asphalt from one area to another. An asphalt pump operates on a similar premise as a concrete pump. Because asphalt is a thick substance, it needs a lot of pressure to move through a pipeline. The vacuum produced by the pump's reciprocating motion pulls asphalt into the input port and forces it out the output port.

COVID-19 Impact: Halted Operations due to Lockdown to Hinder Market Growth

The immediate effects of COVID-19 are causing production and supply chain activities of industrial equipment businesses to be interrupted, and these issues are also affecting the operations of their clients. This is having an exponential effect across the entire supply chain, reaching manufacturers of industrial equipment late but with full force nonetheless. Additionally, COVID-19 has brought about additional difficulties that needed to be rapidly resolved, such as worker absence, constrained site access and collaboration, travel restrictions, weariness, and new working methods. And when preparing a response, keep the following two factors in mind: Maintaining the continuous safety of your personnel and reducing the possibility that your business or the business of your clients may be disrupted in the future.

Latest Trends

"Building and Road Maintenance Industries to Augment Market Growth"

A tool that is used to move asphalt from one location to another is called an asphalt pump. It is mostly utilized in the building and road maintenance industries. Asphalt come in manual and automatic varieties. While automatic pumps are powered by an electric motor, manual asphalt pumps are handled by hand. Asphalt is moved pumps from a truck to a storage container, or from one container to another. Additionally, they are utilized to transfer asphalt from a storage container to a truck. There are numerous sizes and capabilities for pumps. The size of the pump is determined by the user's requirements.

Asphalt Pumps Market Segmentation

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• By Type Analysis

According to type, the market can be segmented into gear pump, screw pump, rotary vane pump and others.

In terms of product, gear pump is the largest segment.

• By Application Analysis

Based on application, the market can be divided into refinery & storage tank, asphalt mixing plant, road construction, building and coating and seal materials.

In terms of application, road construction is the largest segment.

Driving Factors

"Gear Pumps Market Segment to Grow Significantly"

During the anticipated time, the gear pumps market share will expand significantly. Asphalt transfer, asphalt roofing, and asphalt emulsion applications are where gear pumps are most frequently employed. The segment is expanding due to the upstream oil and gas industries and the construction sector's increasing rates of mechanization. Additionally, the asphalt sector has been influenced by urbanization and globalization to become less labor-intensive and more mechanized. Gear pumps are now being used more frequently as a result of this. During the anticipated period, these variables are anticipated to accelerate asphalt pumps market growth.

"Increased Use in Construction of Roads and Highways to Propel Market Growth"

Asphalt is largely utilized in the pavement of roads and highways. To cover a road, it is combined with aggregates and other chemicals. Additionally, because of its noteworthy strength and durability, thermoplastic nature, and waterproofing qualities, it is used in the construction of roads and highways. The majority of pavement on roads and highways is made of asphalt. To cover a road, it is combined with aggregates and other chemicals. It is highly favored in the construction of roads and highways because of its remarkable strength and durability, thermoplastic nature, and waterproofing capabilities. As a result, the increased government investment in infrastructure and highway construction is projected to result in higher asphalt use, which will enhance demand for asphalt pumps throughout the course of the forecast period.

Restraining Factors

"Availability Of Alternatives to Asphalt to Impede Market Expansion"

The expansion of the asphalt pumps market is being hampered by the availability of alternatives to asphalt. Concretes made using geopolymer cement are thought of as alternatives to standard concrete. They are produced from waste products like silica fume, ground-granulated blast furnace slag, and fly ash. High durability and improved resistance to acid and chloride assault are displayed by them. Pavements, water tanks, buildings, roads, and highways are all built with geopolymer cement concrete.

Asphalt Pumps Market Regional Insights

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"to Dominate the Market Due to "

By revenue share, North America led the world asphalt pumps market share. Due to factors like advantageous reimbursement rules, high healthcare costs, and an expanding senior population at risk for chronic diseases, the area is expected to maintain its leadership during the projection period. Due to factors like expanding patient awareness of infusion pump systems and increasing healthcare infrastructure, the Asia Pacific region is predicted to grow at a profitable pace during the forecast period. Further expansion will be fueled by a surge in government initiatives to create cutting-edge infusion pump systems that work with different software platforms.

Key Industry Players

"Key Players Focus on Partnerships to Gain a Competitive Advantage "

Prominent market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolios.

List of Market Players Profiled

• Johnson Pump (U.S.)
• Viking Pump (U.S.)
• Rotan Pump (Denmark)
• Yuandong Pump (Japan)
• Yongchang Pump (China)
• Joh (U.S.)
• Ultra Pompe (Italy)
• Shanggui Pumps (China)
• Bolong (China)

Report Coverage

This research profiles a report with extensive studies that take into description the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by inspecting the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, restraints, etc. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.