As per Persistence Market Research analysis, the global road marking equipment market is projected to be valued at around US$ 1.1 Bn in 2021, expanding at a CAGR of around 6% over the next ten years. Growing road infrastructure and rising standards for road safety are factors driving demand for road marking equipment.
The ongoing crisis caused by the COVID-19 pandemic has resulted in the disruption of supply chain networks and manufacturing activities. Though sales of road marking equipment are understood to have plummeted during the initial stages of the pandemic, with regional manufacturing sector operations reviving toward threshold rates, the market is expected to recover sharply over the coming years.
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Key Takeaways from Market Study
- By type, hand-propelled road marking equipment is anticipated to gain prominent share, owing lower price and higher mobility.
- With research & development, new techniques are making market competition tougher. Tier-I manufacturers are focusing on high performance and advanced road marking equipment for end users.
- Increasing safety standards by national as well as international organizations for road safety will uplift the sales of road marking equipment.
- Airless technology will account for a prominent share in road marking equipment. Higher precision, lower coating loss, and higher paint dispersion angles are factors advancing growth of airless road marking equipment.
- India, East Asia, and parts of the European region are picking up pace in the road marking equipment industry, owing to robust outlook of various end-use sectors across these regions.
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“Implementation of new as well as delayed road construction projects coupled with stricter road safety standards is anticipated to boost market growth over the coming years,” says a Persistence market Research analyst.
The road marking equipment market is significantly fragmented, and the penetration of small regional players makes this space more competitive.
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Some of the key players in the market are Vogel Traffic Services (DBA EZ-Liner), Hofmann, Graco Inc., MRL Equipment Co., M-B Companies, BORUM A/S, The Weir Group plc, STiM, CMC s.r.l., Winter Markiertechnik GmbH, and Toyo Nainenki Kogyosha Co., Ltd. These players have higher shares in the global market, and have longstanding relationships with a number of end users for the supply of road marking equipment.
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The research report analyzes demand for road marking equipment. The global market has been analyzed with the COVID-19 impact, various macroeconomic factors, market trends, and market background.
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As per Persistence market Research’s scope, the market has been analyzed on the basis of type, coating type, technology, end use, and region. The report provides qualitative and quantitative information on various players in this market. This report also tracks the market by both, supply side and demand side.
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