Road Marking Equipment: Expansion of Road Infrastructure Coupled with Rising Road Safety Standards to Steer Market Growth
New York, Sept. 21, 2023 (GLOBE NEWSWIRE) -- The market for road marking equipment was valued at US$1.21 billion in 2022 and is anticipated to expand to US$2.3 billion by 2033, at a compound annual growth rate (CAGR) of 6.0% from 2023 to 2033. Thermoplastic Road Marking Paint Formulations
Road marking equipment plays a crucial role in maintaining road safety and organization by providing clear and visible road markings. These markings help guide drivers, pedestrians, and cyclists, ensuring efficient traffic flow and reducing the risk of accidents. The road marking equipment market encompasses the production, distribution, and utilization of various tools and machines used for road marking applications.
The Road Marking Equipment Market encompasses the manufacturing and distribution of equipment and materials used for applying road markings, including paint, thermoplastic, and other road marking materials.
Road markings play a crucial role in traffic management, enhancing road safety, and guiding drivers on the road. Road marking equipment includes various machinery and technologies used for the application of road markings, such as road striping and line painting.
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Safety and Regulatory Compliance: Road markings are essential for maintaining road safety by providing clear guidance to drivers. Governments and regulatory bodies often establish guidelines and standards for road markings, driving demand for compliant road marking equipment.
Technological Advancements: Advancements in road marking equipment technology have led to improved precision, efficiency, and durability. This includes the development of automated road marking machines, retroreflective materials, and smart road markings with embedded sensors.
Materials Diversity: Road marking materials have diversified to meet different road conditions and environmental requirements. Common materials include paint, thermoplastic, epoxy, and pre-formed markings.
Sustainability: Environmental concerns have driven the development of eco-friendly road marking materials and equipment, such as water-based paints and low-VOC (volatile organic compound) formulations.
Infrastructure Development: Infrastructure development and road construction projects, both in urban and rural areas, drive the demand for road marking equipment. Expansion of road networks and the need for maintenance contribute to market growth.
Urbanization and Population Growth: Rapid urbanization and population growth in emerging economies lead to increased road construction and maintenance, creating opportunities for the road marking equipment market.
Safety and Road Management: Road marking equipment plays a vital role in traffic management, pedestrian safety, and the reduction of accidents, making it an essential component of transportation infrastructure.
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By Type: Hand-propelled Road Marking Equipment, Self-propelled Road Marking Equipment, Truck-mounted Road Marking Equipment
By Coating: Thermoplastic Paints, Cold Paints, Others
By Technology: Airless Road Marking Equipment, Airspray Road Marking Equipment, Thermoplastic Airspray Road Marking Equipment
By Region: North America, Latin America, Europe, East Asia, South Asia & Pacific, Middle East & Africa
By End User: Road Marking Equipment for Road Construction Contractors, Private, Government, Road Marking Equipment for Construction Companies, Road Marking Equipment for Airports, Road Marking Equipment for Sports Infrastructure
Adoption of Smart Road Marking Systems
The integration of technology into road marking equipment is on the rise. Smart road marking systems with features like real-time traffic data collection, dynamic lane markings, and LED-based road markings are gaining popularity.
Growing environmental concerns are driving the development and adoption of eco-friendly road marking paints and materials that have minimal environmental impact.
Enhanced retroreflective materials and technologies are being used to improve the visibility of road markings at night, reducing accidents and enhancing overall road safety.
Automated and Robotic Road Marking Machines
Automation in road marking equipment is increasing efficiency and precision, reducing labor costs, and improving the quality of road markings.
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The bulk of the companies looked at in the research prioritised product launches, acquisitions, and joint ventures. Innovation, partnerships, strategic alliances, interaction with key stakeholders, and bolstering local and international distribution networks are a few examples of key methods.
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, Toyo Nainenki Kogyosha Co., Ltd.
In May 2021, Hofmann presented a brand-new cloud management system for its road marking machine that enables operators to manage devices on a single platform using the web or a mobile app.
In 2020, Hofmann introduced the Road Marking Machine H10-2 and the most recent Road Marking Machine H18-2.
In order to distribute, maintain, and service Borum road marking equipment across Canada, Borum A/S and Core Equipment partnered in October 2018. The presence of Borum in the country will grow thanks to this deal.
The road marking equipment market is expected to continue its growth trajectory due to increasing investments in infrastructure development, road safety initiatives, and urbanization. Technological advancements and sustainability concerns will likely shape the future of the market, with a focus on smart and eco-friendly road marking solutions. Moreover, the adoption of automated and robotic equipment is expected to increase efficiency and reduce operational costs for end-users, further driving market expansion.
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