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Bridge Construction Market Growing at a CAGR of 4.6% from 2020 to 2027 | Key Players, Benefits & Market Segments
Bridge Construction Market
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Bridge Construction Market by Type (Beam Bridge, Truss Bridge, Arch Bridge, Suspension Bridge, Cable-Stayed Bridge, and Others), Material (Steel, Concrete, and Composite Materials), and Application (Road & Highway and Railway)
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.
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Major types of bridge construction products included in the report are beam bridge, truss bridge, arch bridge, suspension bridge, cable-stayed bridge, and others. The others segment includes stressed ribbon, pile, and covered, cantilever bridge, and others. The beam bridge construction constituted the highest market share in 2019, owing to increased demand in the transport infrastructure industry.
Key Players
The key players profiled in the bridge construction market report include ACS Group, AECOM, Balfour Beatty, China Communications Construction Company Limited, China Railway Group Ltd, Fluor, HOCHTIEF AG, Kiewit Corporation, SAMSUNG C&T, and VINCI.
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