According to Cognitive Market Research, the global Asphalt paving market size was USD 2614.2 million in 2024. It will expand at a compound annual growth rate (CAGR) of 5.50% from 2024 to 2031.
North America held the major market share for more than 40% of the global revenue with a market size of USD 1045.68 million in 2024 and will grow at a compound annual growth rate (CAGR) of 4.0% from 2024 to 2031.
Europe accounted for a market share of over 30% of the global revenue with a market size of USD 784.26 million.
Asia Pacific held a market share of around 23% of the global revenue with a market size of USD 601.27 million in 2024 and will grow at a compound annual growth rate (CAGR) of 7.5% from 2024 to 2031.
Latin America had a market share of more than 5% of the global revenue with a market size of USD 130.71 million in 2024 and will grow at a compound annual growth rate (CAGR) of 4.9% from 2024 to 2031.
Middle East and Africa had a market share of around 2% of the global revenue and was estimated at a market size of USD 52.28 million in 2024 and will grow at a compound annual growth rate (CAGR) of 5.2% from 2024 to 2031.
The wheel asphalt pavers category is the fastest growing segment of the asphalt paving industry
