Road Marking Machine Market Share, Trends, Revenue, Price, Key Players, Challenges, Opportunities and Future Strategies Till 2033


Road Marking Machine Market Share, Trends, Revenue, Price, Key Players, Challenges, Opportunities and Future Strategies Till 2033: SPER Market Research

 Published: Dec-2023
 Author: SPER Analyst

Road Marking Machine Market is projected to be worth USD 18.85 billion by 2033 and is anticipated to surge at a CAGR of 9.53%.

A specialized piece of machinery called a road marking machine is used to paint different traffic lines on surfaces like concrete or blacktop in order to give drivers and pedestrians guidance and information. They can also provide different sizes and designs of road markings in addition to safety signs. Thermoplastic or cold solvent paints are applied to the pavement surface by spraying, extruding, and screeding. It is mainly used in parking lots, avenues, streets, highways, etc. and helps to improve the comfort and safety of driving and walking.

Global Road Marking Machine Market Driving Factors and Challenges

Drivers: The global market for road marking machines is expected to grow as a result of rising government spending on road infrastructure development, an increase in the number of accidents caused by poorly marked roads, and technological advancements. However, it is anticipated that the market expansion will be hindered by the cautious approach taken by road contractors and the fluctuating prices of raw materials. On the other hand, the leading companies in the road marking machine market are seeing lucrative opportunities due to the emergence of autonomous vehicles and the growth of smart cities.

Challenges: A number of factors hamper the market growth including rising labor and transportation costs and the depreciation of China's currency—a major exporter of raw material components—have contributed to the increase in the price of raw materials in the road marking machine industry. The supply chain disruption brought on by the pandemic also presents difficulties for suppliers and OEMs due to the volatile prices of raw materials like engines, air compressors, paint buckets, spray guns, thermoplastic paint, and other chemicals like titanium dioxide.  As such, this will hinder the growth of the road marking machine industry.

Impact of COVID-19 on Global Road Marking Machine Market
The COVID-19 pandemic has created uncertainty in the market for road marking machines. A total lockdown and the temporary closure of industries have been declared by several regional governments, which will negatively affect overall sales and production. Strict laws, varying from days to months of lockdown, have been enacted by nations all over the world. Due to the pandemic, a large number of businesses have ceased operations and are waiting for the market to improve. The construction industry is expected to face a plethora of consequences due to COVID-19, two of which are reverse migration and supply chain disruption.

Global Road Marking Machine Market Key Players:
The market study provides market data by competitive landscape, revenue analysis, market segments and detailed analysis of key market players such as; EZ Liner, Automark Industries, Borum A/S, Dayu Road Marking, Tatu Highway Group Co., ltd., HOFMANN, Advanced Striping Equipment, M-B Companies, 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.

Global Road Marking Machine Market Segmentation:

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.

This study also encompasses various drivers and restraining factors of this market for the forecast period. Various growth opportunities are also discussed in the report.

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