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Pavers Equipment Market Share

Report ID: GMI11153
Published Date: Aug 2024
Report Format: PDF

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Pavers Equipment Market Share

Caterpillar Inc., Volvo Construction Equipment, and Wirtgen Group collectively hold a significant market share of around 23% in the pavers equipment industry. Caterpillar Inc. and Volvo Construction Equipment are leading players, both emphasizing innovation and sustainability. Caterpillar's strength lies in its robust, durable machines, while Volvo focuses on eco-friendly, hybrid, and electric pavers. Both companies compete on technological advancements, with Caterpillar excelling in global reach and aftermarket services, and Volvo leading in environmental performance and automation features.

Wirtgen Group, known for its Vögele brand, holds a competitive edge with its advanced asphalt pavers, renowned for precision and efficiency. The company leverages cutting-edge leveling technologies and automation, setting it apart from competitors. Its integration with John Deere enhances its global footprint, enabling it to offer a comprehensive range of road construction solutions, challenging industry giants such as Caterpillar and Volvo.

Pavers Equipment Market Companies

The major players operating in the pavers equipment industry are:

Caterpillar Inc.
Volvo Construction Equipment
Wirtgen Group
BOMAG GmbH
SANY Group
Terex Corporation
Astec Industries, Inc.

Authors: Preeti Wadhwani, Satyam Jaiswal

Frequently Asked Questions (FAQ) :

The market size of pavers equipment was worth over USD 4.3 billion in 2023 and is estimated to register a CAGR of around 5% between 2024 and 2032, due to technological advancements such as automated systems, advanced sensors, and precision engineering.

The asphalt pavers segment accounted for a market share of over 56% in 2023, driven by increasing demand for road construction projects and the need for efficient equipment capable of handling both large-scale infrastructure developments and smaller maintenance tasks.

Asia Pacific pavers equipment market held a major share of around 40% in 2023 and will continue to grow through 2032, due to rise in infrastructure development projects, alongside investments in road construction and maintenance to support urbanization.

Caterpillar Inc., Volvo Construction Equipment, Wirtgen Group, BOMAG GmbH, SANY Group, Terex Corporation, and Astec Industries, Inc.