Government Initiatives to Repair Damaged Roads Fuel Global Road Reclaimer Market, Expected to Reach $776.26 Million by 2032

Dublin, Oct. 16, 2023 (GLOBE NEWSWIRE) -- The "Road Reclaimer Market Share, Size, Trends, Industry Analysis Report, By Capacity , By Application, By Region, Segment Forecast, 2023 - 2032" report has been added to * ResearchAndMarkets.com's* offering.

The global road reclaimer market size is expected to reach USD 776.26 million by 2032, according to a new study. The report gives a detailed insight into current market dynamics and provides analysis on future market growth.
Demand for road reclamation is increasing as a result of growing government initiatives to fix damaged roads. For instance, in November 2022, as per the Tamilnadu Government announcement, to repair damaged roads in urban local bodies throughout the State, the municipal administration and water supply department has set aside a special amount of INR 2,200 crore. Additionally, it was announced that 16,390 kilometers of roads would be upgraded for INR 7,338 crores by integrating Singara Chennai 2.0 and other projects.

In addition, in July 2022, Delhi Government announced that every Saturday, departments will be responsible for maintaining the roads in their respective locations under the government's weekly action strategy to enhance the quality of city roadways. The Delhi government requested the relevant departments to choose one street per zone/division each weekend for maintenance, repairs, and rejuvenation to make the roads in the capital safer as well as free of potholes, as well as fix crumbling footpaths and stretches.

Furthermore, the rise in spending on infrastructure and the rapid expansion of the construction sector is boosting the demand for road reclaimers. For instance, as per the IBEF, India pledged to invest around USD 1.4 trillion infrastructure-related projects between 2019-23, to achieve sustainable development goals. Given that road recycling is an expanding trend in the construction industry, road reclamation is swiftly evolving into essential pieces of equipment for constructing new roads.

Also, nearly 25 million kilometers of new roads are expected to have been constructed worldwide by the year 2050, with the majority of these roads being constructed in developing countries. By the end of 2040, there's going to be an upsurge in migration from rural areas of more than 45 percent, according to Global Infrastructure Hub Australia, creating a large requirement for infrastructure assistance. Therefore, the government's rapidly rising infrastructure investment in the construction industry for the development of new roads as well as the repair and maintenance of old road rules issued is boosting the demand for road reclaimers that is driving the growth of the market rapidly.

*Road Reclaimer Market Report Highlights*

· The 20-30 tons segment is anticipated to grow rapidly over the forecast period. Debris removal from roads and other surfaces is done with the use of road reclaimers, which can weigh 20 to 30 tonnes.
· The mining segment accounted for a major global revenue share. The demand for processing and transporting mined materials and equipment will rise as mining activity increases.
· Asia-Pacific is projected to grow at the highest CAGR over the study period. This is primarily due to an increase in building activity and a quickening of urbanization in developing nations including China, India, Indonesia, Vietnam, and Thailand.
· The global players include Bomag Fayat, Caterpillar, Dynapac Group, JCB Corporation, Shantui Construction Machinery, Volvo Group, WIRTGEN Group, and Xuzhou Construction Machinery.

*The publisher has segmented the road reclaimer market report based on capacity, application, and region:*

*Road Reclaimer, Capacity Outlook (Revenue - USD Million, 2019 - 2032)*

· Less than 10 Tons
· 10-20 Tons
· 20-30 Tons
· Above 30 Tons

*Road Reclaimer, Application Outlook (Revenue - USD Million, 2019 - 2032)*

· Road Construction
· Airports
· Wharves
· Public Engineering
· Mining
· Oil
· Agriculture

*Road Reclaimer, Regional Outlook (Revenue - USD Million, 2019 - 2032)*

· North America
· U.S.
· Canada
· Europe
· Germany
· UK
· France
· Italy
· Spain
· Russia
· Netherlands
· Asia Pacific
· China
· India
· Japan
· South Korea
· Indonesia
· Malaysia
· Latin America
· Argentina
· Brazil
· Mexico
· Middle East & Africa
· UAE
· Saudi Arabia
· Israel
· South Africa

*Key Attributes:*

*Report Attribute* *Details*
No. of Pages 118
Forecast Period 2023 - 2032
Estimated Market Value (USD) in 2023 $566.61 million
Forecasted Market Value (USD) by 2032 $776.26 million
Compound Annual Growth Rate 3.6%
Regions Covered Global

For more information about this report visit https://www.researchandmarkets.com/r/rvafkx

*About ResearchAndMarkets.com*
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.

*Attachment*

· Road Reclaimer Market

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