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       The global road marking machine market size is valued at USD 7.02 billion in 2021 and is expected to reach USD 17.21 billion by 2031, registering a CAGR of 9.3% from 2022 to 2031.
       Road markings play an important role in ensuring road safety. They provide drivers with safety information such as vehicle location, driving route and other important road information. A road marking machine is a device specially used to mark various traffic lines on asphalt or concrete roads to provide directions and information to drivers and pedestrians. In addition to safety signs, they are also capable of applying road markings of various designs and sizes. This process involves scraping, extruding and spraying thermoplastic paint or cold solvent paint onto the road surface. It is mainly used in parking lots, avenues, streets, highways, etc. to improve the convenience and safety of driving and walking.
       Road marking equipment manufacturers are currently benefiting from increased government investment in infrastructure, a factor that applies to both developing and developed countries. For example, under the 14th Five-Year Plan, China plans to invest about 190 billion yuan ($29.3 billion) in transportation infrastructure projects from 2021 to 2025. This investment will be used to build new highways, upgrade existing roads, and improve rural roads in Tibet.
       Factors such as increasing government spending on road infrastructure, rising accidents due to lack of road markings, and technological advancements are expected to drive the global road marking machine market. However, volatile raw material prices and conservative attitude of road contractors are expected to restrain the market growth. On the contrary, the development of smart cities and the emergence of autonomous vehicles are factors creating lucrative opportunities for major players in the road marking machine market.
       The global road marking machine market is segmented based on operation type, material capacity, distribution channel, and application. Based on operation type, the market is segmented into manual and semi-automatic/fully automatic. Based on material capacity, it is divided into less than 100 liters, 100 liters – 250 liters, 251 liters – 750 liters, and more than 750 liters. Based on distribution channel, it is divided into online and offline. Based on application, it is divided into road marking, parking marking, anti-skid, and others. Based on region, North America, Europe, Asia Pacific, and Latin America are analyzed.
       Leading companies in the road marking machine market include Advanced Striping Equipment, Automark, Borum, Dayu Road Marking Co., Ltd., EZ Liner, Hawk Pumps, HOFMANN, Graco Inc., MB Companies, MRL Equipment Company, Inc., Road Marking Equipment (RME), Road Marking Services, STiM.
       The quality of road infrastructure is one of the most important factors that drive economic development and competitiveness. It is considered as an engine of growth as it drives all aspects of socio-economic activity in both developing and developed countries. This includes the operation, maintenance, and construction of highways, streets, roads, pavements, bridges, and other allied structures. In India, for example, in October 2020, the National Investment and Infrastructure Fund (NIIF) made progress in consolidating its roads and highways portfolio. NIIF acquired the Essel Devanahalli Toll Road and Essel Dichpally Toll Road through the NIIF Master Fund. These road infrastructure projects will be supported by NIIF’s own road network, Athaang Infrastructure, and will be assisted by a team of senior professionals with expertise in various areas of the transport sector. Despite the impact of the pandemic and the lockdown, India constructed 13,298 kilometers of highways in FY21. As per the Union Budget 2022-23, the Government of India has allocated USD 26.04 billion to the Ministry of Road Transport and Highways. According to the Urban Institute, a non-profit research organization, in 2019, 42% of the expenditure on highways and roads went towards operational expenditure such as maintenance, repair, snow and ice removal, road and traffic design and operation, and road safety. The remaining 58% is spent on capital expenditure such as construction of highways and roads across the globe. Thus, the increasing investment by governments in road infrastructure development is expected to boost the road marking machine market.
       In recent years, technological advances have changed the way we plan, design, build and operate roads and transportation systems. The technical method of marking road surfaces in traffic conditions, as well as airport maneuvering areas and runways for better orientation is called road marking. Now, technology can apply symbols and lines more accurately and permanently to various surfaces and floors. Using the latest precision road marking technology, it can work most accurately even with speed changes and already has a fully automatic measurement mode and measurement technology. For example, in May 2022, Graco Inc. introduced the new Contractor King Pneumatic Protective Coating Sprayer and Silver Plus HP Road Marking Spray Gun to maximize productivity and mobility. The new Silver Plus HP Spray Gun is rated at up to 7,250 psi (500 bar) and is designed to handle modern protective coatings, including high-solids coatings. The Contractor King air-powered sprayer is designed for contractors who want a more compact and lightweight paint sprayer. In addition, the small, hand-operated machines are easy to operate and can be used over long distances. Thus, improvements in road marking machine technology are expected to promote the development of the road marking machine industry.
       Recently, the demand for more fully automatic and high-performance road marking technologies has increased the demand for certain raw materials in the road marking machine industry. Various factors such as increasing transportation costs, rising prices of corrugated cardboard and packaging paper, rising labor costs, and currency depreciation in China, a major exporter of raw materials, have led to an increase in raw material prices in the road marking machine industry. In addition, as the pandemic wreaks havoc on supply chains, fluctuations in raw material prices such as thermoplastic coatings, motors, air compressors, paint buckets, spray guns, and other chemicals such as titanium dioxide are creating problems for both suppliers and OEMs. As a result, the imbalance in the supply and demand chain of the road marking machine parts manufacturing industry has led to fluctuations in raw material prices and stagnation in average transaction prices, which continues to put pressure on profit margins in addition to rising raw material costs. This, in turn, will hinder the development of the road marking machine industry.
       Automakers are incorporating more self-driving features into their vehicles every year, and as technology advances, drivers will continue to expect more self-driving features from their cars. In self-driving cars, road markings will add lane detection capabilities and will continue to provide vehicles (and their users) with clear lane delineation using various types of navigation systems. Since autonomous vehicles interact directly with road markings, proper installation and maintenance of the markings are critical. The new digital infrastructure recreates the virtual road and the vehicles next to it. In 2019, Tesla introduced an Autopilot feature that helps you navigate clearly marked lanes. Additionally, it includes automatic lane change technology that helps you move into an adjacent lane on the highway when autonomous driving is activated. So, as more self-driving cars are tested and developed, more and more drivers are becoming comfortable with the idea of ​​owning a self-driving car. Thus, the advent of autonomous vehicle technology has created lucrative opportunities for the road marking machine market.
       This section features the views of various leading senior executives in the global road marking machine market. The market is expected to grow steadily owing to increasing industrialization, rapid urbanization, and demand for high-quality road infrastructure in developing regions. The market in developed countries such as the US, Canada, and Germany is expected to show significant growth as compared to developing regions such as India, South Africa, and the Middle East owing to high-quality research and advanced processing capabilities, as well as revolutionary government support for the road marking machine industry in the country. Additionally, advances in paving materials, increasing number of airports (commercial and private), and sports infrastructure will also provide future opportunities for market players. For example, in December 2020, MRL Equipment Company, Inc. introduced the world’s best MRL Thermoplastic Pumping Equipment to ensure efficient and smooth operation of road marking machines. This superior pump can be easily installed on any thermoplastic striping machine and retrofitted in the field.
       Additionally, factors such as rising demand for safer roads and increasing investments in the civil engineering sector are supporting the use of road marking materials, thereby driving the growth of the market. For example, in October 2020, India’s National Investment and Infrastructure Fund (NIIF) made progress in consolidating its roads and highways portfolio. These road infrastructure projects will be supported by NIIF’s own road network, Athaang Infrastructure, and will be assisted by a team of senior professionals with expertise in various areas of the transport sector.
       The growth of the market is also driven by factors such as increasing government spending on road infrastructure, rising accidents due to lack of road markings, and technological advancements, which are expected to boost the global road marking machine market. However, volatile raw material prices and conservative attitude of road contractors are expected to restrain the growth of the market. On the contrary, the rise of smart cities and the advent of driverless vehicles have created lucrative opportunities for major players in the road marking machine market.
       Among the regions analyzed, Asia Pacific was the largest revenue contributor, followed by Europe, North America, Latin America, and the Middle East. As per the forecast analysis, Latin America and the Middle East region are expected to lead the way during the forecast period owing to the continuous development of infrastructure in the region.
     The global road marking machine market is valued at USD 7.02 billion in 2021 and is expected to reach USD 17.21 billion by 2031, growing at a compound annual growth rate of 9.3%.