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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With flexible production being in demand, autonomous handling systems and robots are expected to adapt to changing requirements faster. Besides, those moving around with “domain+” skills would be on the top of the recruiters’ agenda.
Augmented reality solutions are being asked for IoT functionality is capable of tracking and evaluating production quotas, expanding control rooms, and creating various models related to predictive maintenance. Industry 4.0 workforce would, indeed, be complementing robotics. Persistence Market Research is endowed with expertise herein in the form of consultants and analysts.
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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Competitive Landscape
The road marking equipment market is significantly fragmented, and the penetration of small regional players makes this space more competitive. 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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