A road marking machine is a specialized piece of machinery that is used to paint different traffic lines on surfaces such as concrete or blacktop in order to provide drivers and pedestrians with guidance and information. In addition to safety signs, they can provide various sizes and designs of road markings. Spraying, extruding, and screeding are methods of applying thermoplastic or cold solvent paints to the pavement surface. It is primarily used in parking lots, avenues, streets, and highways, among other places, to improve driving and walking comfort and safety.
According to SPER market research, ‘Road Marking Machine Market Size- By Application, By Operation Type, By Material Capacity, By Distribution Channel – Regional Outlook, Competitive Strategies and Segment Forecast to 2033’ state that the Road Marking Machine Market is predicted to reach USD 18.85 billion by 2033 with a CAGR of 9.53%.
Drivers:
Increased government spending on road infrastructure development, a rise in accidents resulting from poorly marked roads, and technological advancements are all expected to drive growth in the global market for road marking machines. But the cautious approach taken by road contractors and the volatile raw material prices are expected to impede the market expansion. However, the introduction of autonomous vehicles and the expansion of smart cities have presented the top players in the road marking machine industry with attractive prospects.
Challenges:
The road marking machine industry’s raw material prices have increased due to a number of factors that are impeding the growth of the market, such as rising labor and transportation costs and the depreciation of China’s currency, which is a major exporter of raw material components. The pandemic’s disruption of the supply chain also poses challenges for OEMs and suppliers because of the unstable prices of raw materials such as air compressors, engines, paint buckets, spray guns, thermoplastic paint, and other chemicals like titanium dioxide. Therefore, this will impede the industry’s growth for road marking machines.
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The market for road marking machines is uncertain as a result of the COVID-19 pandemic. Several regional governments have declared a complete lockdown and the temporary closure of industries, which will have a negative impact on overall sales and production. Nations all over the world have implemented strict laws, ranging from days to months of lockdown. Many businesses have stopped operating as a result of the pandemic and are waiting for the market to improve. Reverse migration and supply chain disruption are two of the many repercussions that COVID-19 is predicted to have on the construction industry.
Additionally, some of the market key players are Road Marking Services, Nanjing Roadsky Traffic Facility Co.,Ltd., MRL Equipment Co., STiM, Hawk Pumps, Titan Tool Inc., Graco Inc., Road Marking Equipment (RME), Zhengzhou Dayu Machinery Co., Ltd.
Road Marking Machine Market Key Segments Covered
The SPER Market Research report seeks to give market dynamics, demand, and supply forecasts for the years up to 2033. This report contains statistics on product type segment growth estimates and forecasts.
By Application: Based on the Application, Global Road Marking Machine Market is segmented as; Road, Car Park, Anti-Skid, Others.
By Operation Type: Based on the Operation Type, Global Road Marking Machine Market is segmented as; Manual, Semi-Automatic/Fully Automatic.
By Material Capacity: Based on the Material Capacity, Global Road Marking Machine Market is segmented as; Direct, Indirect.
By Distribution Channel: Based on the Distribution Channel, Global Road Marking Machine Market is segmented as; Online, Offline.
By Region: This report also provides the data for key regional segments of North America, Asia-Pacific, Latin America, Middle East & Africa and Europe.
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Road Marking Machine Market Outlook
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