The Business Research Company's Highway, Street, And Bridge Construction Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
The highway, street, and bridge construction market has experienced steady growth in recent years, projected to rise from $896.65 billion in 2023 to $938.74 billion in 2024, at a compound annual growth rate (CAGR) of 4.7%. This growth during the historical period can be linked to factors such as population growth and urbanization, the need for replacing aging infrastructure, government funding and initiatives, enhancements to transportation networks, and economic development objectives.
What Is the Projected Market Size of the Global Highway, Street, And Bridge Construction Market and Its Growth Rate?
The highway, street, and bridge construction market is anticipated to experience significant growth in the coming years, projected to reach $1,142.88 billion by 2028 at a compound annual growth rate (CAGR) of 5.0%. Factors driving this growth during the forecast period include smart city initiatives, a focus on environmental sustainability, enhanced urban mobility solutions, resilience and climate adaptation efforts, and increased participation from the private sector.
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What are the Key Drivers Fueling Growth in the Highway, Street, And Bridge Construction Market?
Rising infrastructure investments worldwide are playing a crucial role in driving the growth of the highway, street, and bridge construction market in the future. Infrastructure investments focus on specific securities within sectors responsible for a country's infrastructure development. This encompasses funding for the infrastructure and services that the general population relies on for living, working, and traveling. Both highway, street, and bridge construction, as well as renovation, fall under the umbrella of public or private infrastructure.
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Who Are the Key Players Driving Growth in the Highway, Street, And Bridge Construction Market?
Key players in the market include China State Construction Engineering Corporation Ltd., China Railway Group Ltd., China Communications Construction Company Limited, Vinci SA, Bouygues SA, Laing O'Rourke, ACS Group S.A., Grupo ACS, Samsung C&T Corporation, Hochtief AG, Larsen & Toubro Ltd., Strabag SE, Bachtel Corporation, Jacobs Engineering Group Inc., Skanska AB, Colas Group, Fluor Corporation, Turner Construction, Kiewit Corporation, AECOM, Balfour Beatty plc, Ferrovial SA, PCL Construction, Stantec Inc.
What Are The Emerging Trends Shaping The Growth Of The Highway, Street, And Bridge Construction Market?
Key players in the highway, street, and bridge construction market are focusing on innovation by developing new products, such as 3D-printed concrete bridges, to enhance their competitive advantage. A 3D-printed concrete bridge is a structure built using advanced 3D printing technology along with concrete materials, allowing for more efficient and cost-effective construction methods.
What Are the Segments of the Global Highway, Street, And Bridge Construction Market?
1) By Type: Highway, Street, Bridge
2) By Construction Type: New Construction, Reconstruction And Repair
3) By Funding: Government Funding, Private Funding
Geographic Overview: Asia-Pacific vat the Helm of the Highway, Street, And Bridge Construction Market
Asia-Pacific was the largest region in the market in 2023. The regions covered in the report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
How Is The Highway, Street, And Bridge Construction Market Defined?
Highway, street, and bridge construction are essential infrastructure projects that encompass the construction, development, and maintenance of vital transport networks. These projects play a significant role in supporting the overall economy of a country, as they involve activities related to repairs, recovery, maintenance, and the building of essential infrastructure.
The Highway, Street, And Bridge Construction Global Market Report 2024 from The Business Research Company includes the following key information:
• Market size data for both historical and future periods
• Analysis of both macro and microeconomic factors that have impacted the market over the past five years
• Regional market analysis covering Asia-Pacific, China, Western Europe, Eastern Europe, North America, the USA, South America, and the Middle East and Africa
• Country-specific market analysis for Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA.
Overview of the Global Highway, Street, And Bridge Construction Market Report: Trends, Opportunities, Strategies, and More
The Highway, Street, And Bridge Construction Global Market Report 2024 from The Business Research Company is an extensive resource that delivers insights into highway, street, and bridge construction market size, highway, street, and bridge construction market drivers and trends, highway, street, and bridge construction competitors' revenues, and highway, street, and bridge construction market growth across geographies. This report provides valuable in-depth insights into potential opportunities and strategies. Companies can utilize the information presented to target segments with the greatest growth potential.
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The Business Research Company
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