Press release
Bridge Construction Market Worth $1,212.6 Billion by 2027 | by Type, Material, Application
Bridge Construction Market
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Asia-Pacific generated the highest revenue in 2019, and is expected to grow at a highest CAGR during the forecast period, followed by LAMEA and North America. In addition, surge in road and highway construction industry in the developing countries such as India, China, India, and Brazil is expected to increase the demand for new bridges.
However, volatile economic condition in Latin America may hamper the bridge construction market growth. The impact of this factor is anticipated to reduce in future due to intense competition and new bridge development by market players.
A bridge is a super-structure that spans horizontally between supports. The major function of a bridge is to carry vertical loads. It provides a way over an obstacle without closing the way under the bridge. These obstacles include a valley river, a railway, or a road. The bridge design depends upon the type of bridge being constructed. It is a huge project that requires the skills related to engineering disciplines.
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These engineering disciplines include civil, mechanical, geology, electrical, and computer sciences; therefore, all engineering disciplines must work together for the success of the project. Most funding for bridge construction projects comes from government sources and industry performance can be tied to government spending. For example, the Government of India in 2019-2020 has allocated US$63.20 billion for the infrastructure sector. Bridges are mainly used for transportation.
Global Bridge Construction Market Segments
By Type
Beam Bridge
Truss Bridge
Arch Bridge
Suspension Bridge
Cable-stayed Bridge
Others
By Material
Steel
Concrete
Composite Materials
By Application
Road & Highway
Railway
By Region
North America
Europe
Asia-Pacific
LAMEA
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Key Players
ACS Group
AECOM
Balfour Beatty
China Communications Construction Company Limited
China Railway Group Ltd
Fluor
HOCHTIEF AG
Kiewit Corporation
SAMSUNG C&T
VINCI
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of Market Research Reports and Business Intelligence Solutions. AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains.
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