With the latest challenges of COVID-19, it can be difficult trying to navigate the future in the asphalt paving industry. Over the next five years, many market analysts predict the market to grow despite the recent economic struggles due to Coronavirus. With North America leading the way, throughout the world, there are predictions for steady growth in the upcoming years.
In a recent article from the Machinery Observer, they write: “The global asphalt pavers market size is expected to reach USD 2.77 billion by 2026, exhibiting a CAGR of 4.4% during the forecast period. One of the key reasons boosting the growth of the market is the development in roads and infrastructure. According to the Virginia Asphalt Association, Recycled Asphalt Pavement (RAP) has been used widely for more than 30 years and for the tenth year in a row RAP is the most recycled product in America.”