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       The global road marking machine market size is expected to reach USD 17.21 billion by 2031
       Road markings play an important role in ensuring road safety. They provide drivers with safety information such as vehicle location, road route, and other important road information. A road marking machine is a device specially designed 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 can also apply road markings of various designs and sizes. The process is carried out by leveling, extruding, and spraying thermoplastic or cold solvents onto the road surface. It is mainly used in parking lots, avenues, streets, highways, etc., helping to improve the convenience and safety of driving and walking.
       Currently, road marking equipment manufacturers are benefiting from increased investment in infrastructure development by government departments, which is relevant for both developing and developed economies. For example, according to the 14th Five-Year Plan, China plans to invest about 190 billion yuan (US$29.3 billion) in transportation infrastructure projects from 2021 to 2025. The investment will be used to build new expressways in Tibet, upgrade existing roads, improve rural roads, etc.
       Factors such as increasing government spending on road infrastructure development, rising accidents due to lack of road markings, and technological advancements are expected to propel the global road marking machine market. However, volatile raw material prices and conservative approach by road contractors are expected to restrain the market growth. On the contrary, the rise of smart cities and the emergence of autonomous vehicles are factors creating lucrative opportunities for key players in the road marking machine market.
       The global road marking machine market is segmented based on operation type, performance, 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, parking, 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., Nanjing Roadsky Traffic Facility Co., Ltd, Road Marking Equipment (RME), Road Marking Services, STiM, Tatu Highway Group Co., Ltd., Titan Tool Inc. and Zhengzhou Dayu Machinery Co., Ltd.
       The quality of road infrastructure is one of the most important factors in driving economic development and competitiveness. It is considered an engine of growth as it boosts all aspects of socio-economic activities in both developing and developed countries. It includes the operation, maintenance, and construction of highways, streets, roads, pavements, bridges, and other related structures. For example, in India, the National Investment and Infrastructure Fund (NIIF) made progress in consolidating its roads and highways portfolio in October 2020. NIIF acquired the Essel Devanahalli and Essel Dichpally toll roads through the NIIF Master Fund. These road infrastructure projects will be supported by NIIF’s own road network, Athaang Infrastructure, and assisted by a team of experienced professionals with expertise in various areas of the transport sector. Despite the impact of the pandemic and the lockdown, India constructed 13,298 km of highways in FY2021. 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 Urban Institute, a non-profit research organization, in 2019, 42% of the highways and roads expenditure went towards operational expenditure such as maintenance, repair, snow and ice removal, highway and traffic design and operation, and road safety. The remaining 58% was spent on capital expenditure such as construction of highways and roads across the globe. Thus, the increase in government investment 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, as well as airport maneuvering areas and runways for better traffic orientation is called road marking. This technology now allows symbols and lines to be applied to various surfaces and soils more accurately and permanently. Using the latest precision road marking technology, it works with maximum accuracy even at different speeds and already has fully automatic adjustable dosing modes and measuring technology. For example, in May 2022, Graco Inc. launched the new Contractor King Pneumatic Protective Coating Sprayer and Silver Plus HP Road Marking Spray Gun, providing maximum productivity and mobility. With a pressure rating of up to 7,250 psi (500 bar), the new Silver Plus HP Spray Gun 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 spray gun. In addition, the small, hand-operated machines are easy to operate and can be used for long-distance work. Thus, the advancement of road marking machine technology is expected to promote the development of the road marking machine industry.
       Recently, the demand for more automated and high-performance road marking technologies has increased the demand for certain raw materials in the road marking machine industry. Various factors, including rising transportation costs, high 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, due to supply chain disruptions caused by the epidemic, fluctuations in raw material prices such as thermoplastic coatings, motors, air compressors, spray paint cans, spray guns, and other chemicals such as titanium dioxide have created problems for both suppliers and original equipment manufacturers. As a result, the imbalance in the supply and demand chain of the road marking machine parts industry has led to raw material price volatility and stagnation in average transaction prices, which, in addition to rising raw material costs, continues to put pressure on profitability. This, in turn, will constrain the growth of the road marking machine industry.
       Automakers are equipping their vehicles with more and more autonomous driving features every year, and as the technology improves, drivers will continue to expect more and more autonomous driving features from their vehicles. In self-driving vehicles, road markings will enhance lane detection capabilities and continue to provide clear lane demarcations for vehicles (and their users) through various types of navigation systems. Since autonomous vehicles interact directly with road markings, proper installation and maintenance practices are critical. The new digital infrastructure recreates the virtual road and the vehicles on it. In 2019, Tesla introduced an Autopilot feature that helps you drive in clearly marked lanes. Additionally, the system includes automatic lane change technology that helps you change into an adjacent lane on highways when automated driving is engaged. So, as more self-driving cars are tested and developed, more drivers will become comfortable with the idea of ​​owning a self-driving car. Thus, the advent of autonomous driving technology in vehicles has created lucrative opportunities in the road marking machine market.