Road Marking Equipment Market By Type (Hand-propelled, Self-propelled, Truck-mounted)
Industry: Industrial Automation
Published Date: December-2022
Format: PPT*, PDF, EXCEL
Delivery Timelines: Contact Sales
Number of Pages: 254
Report ID: PMRREP27388
The worldwide Road Marking Equipment market was valued at US$ 1.21 Bn in 2022 and is expected to grow by a CAGR of 6.0% by 2033 due to increased investments in road infrastructure developments. Road markings are an important aspect of road safety and maintenance because they assist cars and pedestrians travel more safely. As a result, the growing need for road safety and maintenance is likely to boost the worldwide market throughout the forecast period.
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Global Road Marking Equipment Market Size (2022A) |
US$ 1.21 Bn |
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Global Road Marking Equipment Market Size (2023E) |
US$ 1.28 Bn |
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Projected Road Marking Equipment Market Value (2033F) |
US$ 2.3 Bn |
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Value CAGR (2023-2033) |
6.0 % |
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Collective Value Share: Top 3 Countries (2022) |
34.2 % |
Road markings play a vital part in road safety. It also provides the drivers safety information like vehicle positioning, road alignment, and other important road information. The road marking equipment is a type of instrument that is used to outline various traffic lines on a blacktop as well as concrete surface. These outlines provide guidance and information to the pedestrians and motorists. They are also capable of providing various designs of road markings, as well as safety signs.
According to Persistence Market Research's road marking equipment market study, from 2017 to 2022, use of road marking equipment expanded at a CAGR of 2.9%, with China, Japan, India, U.S., Germany, and U.K. holding a significant share in the global market.
In recent years, road marking equipment manufacturers benefited from increased government investments in infrastructure development, and this factor applies for both emerging as well as developed economies.
According to WHO, 1.25 million people are killed in road accidents each year, which is around 3,400 deaths per day. Government investment are expected to be a significant component driving this industry in the future years. Furthermore, rising road standards as a result of national and international safety concerns are expected to benefit road marking equipment producers even more.
Road traffic accidents are the primary cause of deaths among people aged 15 to 29, and this figure is expected to rise in the coming years. One of the prominent factors contributing to this high number of fatalities is a lack of road marking.
The market is expected to grow at 6.0% CAGR during the assessment period.
Road markings will remain to be important for all sorts of navigation systems, including driverless cars. Tesla introduced autopilot features in 2019 that help in steering inside a clearly marked lane, and the global autonomous car market is expected to exceed by US$ 40 Bn in 2024.
Furthermore, all industry professionals agree on the need of road markings for the proper growth and operation of autonomous fleets. Hence, the autonomous vehicle market will create attractive prospects for the manufacturers of road marking equipment.
As we reach the age of mixed-level autonomous driving, road marking will remain crucial for all sorts of guiding systems, according to Robert N. Dingess (CEO of the US-based Mercer Strategic Alliance and policy director for a global road marking alliance). Furthermore, the expanding number of airports (both commercial and private) and sports infrastructure will provide opportunities for market participants in future.
Manufacturing companies will be significantly and directly impacted by volatile and unstable markets in Asia Pacific region. The operating costs of manufacturing processes, which are the major concern of manufacturers, would be directly impacted by rising raw material costs and tariffs for producing road marking equipment.
Rising raw material prices have a direct impact on the supply chain and the selling price of a product. The constant and unpredictable rise in the pricing of raw materials for road marking equipment is a growing concern among Asia Pacific region. As a result, market growth is expected to be hampered to some extent. Furthermore, in the South Asian region, road contractors prefer self-propelled and hand-propelled machines over truck-mounted machines. The prominent reason behind it is the price difference between hand-propelled and truck-mounted equipment which is around US$ 100,000.
North America is likely to be the most profitable market for suppliers of road marking equipment. The U.S. leads the North American market and is predicted to increase at a 1.7X rate between 2023 and 2033.
With increasing investment on road development by both the federal and state governments, sales of road marking equipment have expanded significantly in recent years.
Furthermore, U.S. accounts for a significant share in sports infrastructure, owing to the large prevalence of sports stadiums, particularly in universities and high schools, which is distinctive to the U.S. sports culture.
What is the Growth Scenario for India in the Global Market for Road Marking Equipment?
Over the assessment period, the South Asian market is expected to develop significantly, with India leading at a CAGR of more than 7%.
India is a market leader in hand-propelled road marking equipment, which may be partially attributed to the existence of the unorganized sector or tier-II and III companies. However, the majority of the country's exports go to nearby countries like Sri Lanka, Bangladesh, and Nepal, as well as a small number of Middle Eastern nations.
Will China Be a Lucrative Market for Road Marking Equipment Manufacturers?
China accounts for more than half of the East Asian market for road marking equipment in 2020. The existence of tier-II businesses has helped to the expansion of the country's road marking equipment sector.
China has a significant export market share, as most of its exports are to Asia, the Middle East, and North America. The country's manufacturers are known for producing high-quality goods at reasonable prices.
What is the Growth Prospects for Germany in Road Marking Equipment?
Germany is a key market in Europe, having highest market share in the European countries.
As there is high VOC emission from solvent-based paints used in road marking equipment, Germany has limited their usage due to stringent safety standards. Waterborne paints, thermoplastics, and cold plastic are becoming more popular as ecologically friendly alternatives. Waterborne paints, on the other hand, do not have the same durability as thermoplastic or cold plastic paints, hence demand for thermoplastic and cold plastic paints is increasing.
Why is Hand-propelled Road Marking Equipment the Most Used?
By the end of the assessment period, hand-propelled road marking equipment will account for more than 55% of the global market in terms of volume, due to their low cost and high mobility, these machines are widely used. Due to space constraints, hand-propelled road marking equipment does not include pre-heaters, thus end users have to purchase them separately to heat powder coatings such as thermoplastic.
Why is Demand for Multi-gun Spraying Road Marking Equipment Surging?
Market competitors are working on creating machines with numerous guns and colors to minimize time and boost machine productivity, and these machines can apply road marking up to five times quicker than typical single-gun machines.
According to Australian Civil Aviation Safety Regulations, markings must be clearly visible against the background on which they are placed, and a contrasting black surround must be given on a light-colored surface, and a contrasting white surround must be provided on a black surface.
This is a difficult task for machines equipped with single-gun sprayers, resulting in longer timeframes for a single job. This issue can be resolved by using machines having multiple guns.
Why is Thermoplastic Road Marking Equipment Generating Most Revenue?
In 2020, thermoplastic coatings will accounted for almost half of total demand. The growing popularity of thermoplastic road marking equipment is attributed to its great durability and low cost.
Other elements driving its increasing sales are strong wear and tear resistance, high visibility, quicker set time, environmental friendliness (reduced VCO emissions), and others.
Which is the Most-used Technology for Road Marking Equipment?
Airless technology accounted for more than 40% of road marking equipment. Because of its great accuracy, this method decreases coating loss/wastage. This assists manufacturers in reducing the total weight of the equipment.
Furthermore, the lack of air means that less spraying mist is created, which prevents paint from accidentally landing on nearby areas. Another advantage of using no air is that the paint is dispersed finely and no bubbles are formed on the surface.
The majority of the companies covered in the research have prioritised product launches, acquisitions, and joint ventures. Innovation, partnerships, strategic alliances, collaboration with key players, and bolstering local and international distribution networks are all examples of key strategies.
Some of the key developments are:
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Forecast Period |
2023-2033 |
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Historical Data Available for |
2017-2022 |
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Market Analysis |
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Key Regions Covered |
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Key Countries Covered |
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Key Market Segments Covered |
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Key Companies Profiled |
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Pricing |
Available upon Request |
By Type
By Coating
By Technology
By Region
By End User
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The global road marking equipment market is currently valued at around US$ 1.21 Bn.
Demand for road marking equipment is slated to expand at 6.0% CAGR to reach a market valuation of US$ 2.3 Bn by 2033.
The market for road marking equipment expanded at 2.9% CAGR from 2017 to 2022.
Prominence of multi-gun spraying machines and rising demand for thermoplastic road marking machines are key trends being observed in the market.
Ratings on the basis of market share, market reach, and clientele show that the top 5 players are Emerson Graco Inc., HOFMANN & Vogel Traffic Services, STiM and Winter Markiertechnik GmbH, who together account for over 10% market share.
The U.S., Germany, Japan, India, and China are driving most of the demand for road marking equipment.
The U.S., Germany, Japan, China, and India are key road marking equipment producing and exporting countries.
