Highway, Street, And Bridge Construction Market Forecast 2024-2033: Growth Rate, Drivers, And Trends

The Highway, Street, And Bridge Construction Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

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According to The Business Research Company’s Highway, Street, And Bridge Construction Global Market Report 2024, The highway, street, and bridge construction market size has grown steadily in recent years. It will grow from $896.65 billion in 2023 to $938.74 billion in 2024 at a compound annual growth rate (CAGR) of 4.7%. The growth in the historic period can be attributed to population growth and urbanization, aging infrastructure replacement, government funding and initiatives, transportation network enhancement, economic development goals.

The highway, street, and bridge construction market size is expected to see strong growth in the next few years. It will grow to $1142.88 billion in 2028 at a compound annual growth rate (CAGR) of 5.0%. The growth in the forecast period can be attributed to smart city initiatives, environmental sustainability focus, increased urban mobility solutions, resilience and climate adaptation, private sector participation. Major trends in the forecast period include incorporation of innovative materials and composites, collaboration with public-private partnerships (PPPs), focus on safety and intelligent construction equipment, adoption of 3D printing in construction, introduction of sustainable transportation infrastructure financing.

Increased infrastructure investments across the globe are significantly contributing to the growth of the highway, street, and bridge construction market going forward. An infrastructure investment refers to an investment fund that concentrates on specific securities within the sectors that create the country’s infrastructure. This includes making investments in the infrastructure and services that the general population uses to live, work, and travel. Highway, street, and bridge construction and renovation all fall under public or private infrastructure. For instance, according to a report shared by USA Facts, a US-based non-profit organization and website that provides data and reports on the United States population, spending on infrastructure and transportation in 2022 will be 21% greater than it was in 2019 before the epidemic. Highway transportation accounted for about 39% of federal investment in infrastructure and transportation in 2022, while rail and mass transit accounted for 28%. The remainder went to water (9%), and 22% went to air travel. Therefore, increased infrastructure investments across the globe are driving the growth of the highway, street, and bridge construction market.

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The highway, street, and bridge construction market covered in this report is segmented –

1) By Type: Highway, Street, Bridge
2) By Construction Type: New Construction, Reconstruction And Repair
3) By Funding: Government Funding, Private Funding

Major companies operating in the highway, street, and bridge construction market are developing new products such as 3D-printed concrete bridge to gain a competitive edge in the market. A 3D-printed concrete bridge refers to a bridge structure that is constructed using 3D printing technology and concrete materials. For instance, in December 2023, LafargeHolcim Ltd. a Switzerland-based building materials and solutions company launched Phoenix. This creative bridge demonstrates the company’s dedication to low-carbon infrastructure applications and circular building with 10 tons of recycled materials used in its construction. It also serves as an example of the potential of integrated circular construction, computational design, and 3D concrete printing. As a testament to the possibilities of integrated circular construction, computational design, and 3D concrete printing, the bridge is a noteworthy technological milestone because it is supported only by compression and requires no reinforcement.

The highway, street, and bridge construction market report table of contents includes:

1. Executive Summary
2.Highway, Street, And Bridge Construction Market Characteristics
3. Highway, Street, And Bridge Construction Market Trends And Strategies
4. Highway, Street, And Bridge Construction Market analysis
5.Highway, Street, And Bridge Construction Market Size And Growth
6.Highway, Street, And Bridge Construction Segmentation
7.Highway, Street, And Bridge Construction Regional And Country Analysis
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27.Highway, Street, And Bridge Construction Competitive Landscape And Company Profiles
28.Highway, Street, And Bridge Construction Key Mergers And Acquisitions
29.Highway, Street, And Bridge Construction Future Outlook and Potential Analysis

TOP MAJOR PLAYERS:

• China State Construction Engineering Co.
• China Railway Group Ltd.
• China Communications Construction Company Limited
• Vinci SA
• Bouygues SA

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