SAN FRANCISCO, May 9, 2019 /PRNewswire/ -- The global road marking machine market size is anticipated to reach USD 11.32 billion by 2025 expanding at a CAGR of 9.3%, according to a new report by Grand View Research, Inc. Rapid globalization, industrialization, and urbanization along with technological developments are triggering the demand for high-quality infrastructure. With a view to achieve balanced regional economic growth governments across the world have increased their spending on infrastructure development.
Key suggestions from the report:
- Asia Pacific accounts for the largest share of the global road marking machine market and is expected to retain its dominance over the forecast period
- China is the major revenue-generator in the APAC region and is anticipated to reach USD 1.17 billion by 2025
- North America market is anticipated to witness a steady growth owing to increased investments for road safety and maintenance
- U.S. is one of the prominent markets in North America and is projected to expand at the fastest CAGR of 3.9% over the forecast period
- Manual type is expected to be the largest as well as fastest-growing machine type segment over the estimated period
- Car parking markings application segment is anticipated to register the highest CAGR of 10.5% during the forecast years
- Key companies in this market are Hofmann GmbH; Borum A/S; Graco Inc.; RME Road Marking Equipment; STiM Group; Dayu Road Marking; Automark Industries; Titan Tool Inc.; TATU Traffic Group; and Zhenjiang Winfar Transport Facilities Co., Ltd.
Read 107 page research report with TOC on "Road Marking Machine Market Size, Share & Trends Analysis Report By Machine Type (Manual, Semi-Automatic, Fully Automatic), By Application (Road, Car Park, Anti-Skid Markings), By Region, And Segment Forecasts, 2019 - 2025" at: https://www.grandviewresearch.com/industry-analysis/road-marking-machine-market
Thus, rising investment in road infrastructure by key governments, specifically in emerging economies of APAC and CSA, are expected to propel the market over the forecast period. On the basis of product type, the market is segmented into manual, semi-automatic, and fully automatic machines. Manual machines are projected to account for the largest market share over the forecast period as they are used across various industries owing to ease of operation, compatibility with a variety of paint materials, and low operational cost.
On the basis of application, the market is segmented into road, car park markings, anti-skid, and other markings. Road markings was the largest application segment in 2018 and held 28.25% of the global market share. These markings includes line striping on highways, city roads, and sideways, among others. Car park markings is likely to be the fastest-growing segment with a CAGR of 10.5% over the forecast period owing to rising need for these markings at hotels, buildings, sideway car parking, and public car parking places.
Grand View Research has segmented the global road marking machine market on the basis of machine type, application, and region:
- Road Marking Machine Type Outlook (Revenue, USD Million, 2015 - 2025)
- Fully Automatic
- Road Marking Machine Application Outlook (Revenue, USD Million, 2015 - 2025)
- Car Park
- Road Marking Machine Regional Outlook (Revenue, USD Million, 2015 - 2025)
- North America
- Asia Pacific
- South Korea
- Middle East and Africa
- Saudi Arabia
- Central & South America
Find more research reports on Automotive & Transportation Industry, by Grand View Research:
- Automotive Clutch Market – The global automotive clutch market is expected to witness significant growth over the forecast period owing to advancements in automotive technology coupled with surging demand for electric vehicles.
- Airside Services Market – The airside services market is poised for steady growth over the forecast period owing to the increasing private participation in ground handling & maintenance and growing liberalization.
- Road Safety Market – Subsequent increase in the number of passengers, traffic and congestion on the road is estimated to be an influencing factor for the road safety market.
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Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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