"Continuous Development in Transport Infrastructure to Stimulate the Demand for Road Marking Machines"

Road Marking machines market projected to reach the overall market value of US$ 11.83 Bn in 2029 and expected to witness the promising growth of 6.01% throughout the forecast period. Road transport is vital sector for economic activity, as it plays essential role in providing access to education, health and agricultural inputs & extension services. Transportation plays multifaceted role in the pursuit of development objectives. Restriction of accessibility limits effective factor mobility and defers the transfer of human and material resources to places where it is to be set up more productively. Road markings improve traffic flow and safety by providing guidance and regulatory & warning information to driver that makes the driving task easier. Rising urbanization along with transport infrastructure development accounted to stimulate the road construction industry growth, thereby stimulating the subsequent surge of road marking machines market. 

"Road Marking Application to Cement the Dominating Position in Road Marking Machines Market"

The primary purpose of roadway marking is to provide visual information needed by the driver to steer vehicle safety in variety of situations. Marking on the road must able to define the field of safe travel and visible in daylight as well as in darkness. Advancement in paint material used for such markings offers visibility in adverse weather conditions such as heavy rain and fog. Similarly, with volatile climate conditions, road markings lost reflectivity with certain time and seeks for remarking that drives the demand for marking machines. With developing road infrastructure and surge in vehicle traffic on road, the road-marking segment expected to retain its dominant position across the forecast period.

"Emerging Markets’ Share in Global Road Marking Machines Market Continue to Rise with Steady Rate"

In 2019, Asia Pacific market dominated the overall market with lion share, in terms of market value, chiefly due to development of travel infrastructure. As the infrastructure development trend shifts toward developing countries, dominating position of the region in the global road marking machines market continues to improve across the forecast period. Majorly driven by dynamic demographic trends, investment in transportation infrastructure expected to continue driving the road marking machines market here. In 2019, India accounted for 464,910 road accidents involving casualties. Similarly, Japan accounted for 472,165 accidents in the same year. With growing such incidences, governing bodies are aiming for investment in road infrastructure development from past few years. In 2020, China invested around US$ 310 Bn for road infrastructure development. Similarly, Indian and Japan accounted for US$ 15 Bn and US$ 52 Bn in same year respectively. With growing investment for road infrastructure development, demand for road marking machines expected to surge promisingly across the forecast period.  

Key players of global road marking machines market includes STiM Group, Titan Tool Inc., Hofmann GmbH, Zhenjiang Winfar Transport Facilities Co., Ltd., Borum A/S, TATU Traffic Group, Graco, Inc., Automark Industries (INDIA) Pvt. Ltd., Zhengzhou Dayu Machinery Co., Ltd., RME Road Marking Equipment and others.

Historical & Forecast Period

This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.

The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.

Research Methodology

The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Road Marking Machines market are as follows:

• Research and development budgets of manufacturers and government spending
• Revenues of key companies in the market segment
• Number of end users and consumption volume, price and value.
• Geographical revenues generate by countries considered in the report
• Micro and macro environment factors that are currently influencing the Road Marking Machines market and their expected impact during the forecast period.

Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.

Key questions answered in this report

• What are the key micro and macro environmental factors that are impacting the growth of Road Marking Machines market?
• What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
• Estimated forecast and market projections up to 2032.
• Which segment accounts for the fastest CAGR during the forecast period?
• Which market segment holds a larger market share and why?
• Are low and middle-income economies investing in the Road Marking Machines market?
• Which is the largest regional market for Road Marking Machines market?
• What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
• Which are the key trends driving Road Marking Machines market growth?
• Who are the key competitors and what are their key strategies to enhance their market presence in the Road Marking Machines market worldwide?