Bridge Inspection Services Market To Reach A Valuation Of US$ 6.3 Billion By The End Of 2029

The economic consequences of COVID-19 are analysed along with present opportunities, possible future revenue streams, and current and forecast valuations of major market segments in a new report on the Bridge Inspection Services Market. The lengthy analyses include a description of the significant trends driving revenue growth, key growth drivers, and potential prospects. The dynamics of the global bridge inspection services market are linked to an assessment of the strategic environment of major regional markets, important regulatory impediments, macroeconomic trends, and the influence of COVID-19 on communities worldwide. The market estimates were derived by employing a variety of cutting-edge, advanced industry analytical methods.

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Additionally, a successful combination of mobile inspection, drones, and virtual reality is anticipated to create new business prospects worldwide. According to Fact. MR, market expansion is anticipated to be fueled by bridge inspection, maintenance, and repair as well as substantial technological advancements.

Key Takeaways of Global Bridge Inspection Services Market

Routine bridge inspection services are projected to expand 1.4X as compared to 2019, and account for around 83% of the overall value opportunity in the global market by 2029 end. The growing awareness around damage caused by improper inspection will drive the segment of routine bridge inspection services.
The inventory inspection purpose segment is expected to create an absolute dollar opportunity ~US$ 766 Mn during the forecast period
Asia-Pacific will remain the prominent region across the forecast period, accounting for more than 35% share in the global market, as countries in this region are focusing on modernizing their infrastructure
Transportation over bridges account for nearly three-fifth of the overall bridge inspection market value by the end of the forecast duration
Demand for bridge construction with permanent bridges is projected to expand 1.3X as compared to 2019
"Adoption of mobile inspection robots, drones, and virtual reality will improve the performance and efficiency of bridge inspection and will also open new growth prospects for service providers" says the Fact.MR analyst

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Acquisitions Remain Market Imperative

The report reveals some of the prominent market players, including Mistras Group, KCI Technologies, Stantec, TÜV Rheinland, Mabey Group, ATS Engineering, Burns & McDonnell, Collins Engineers, Volkert Inc., GHD Group Pty Ltd, WSP Global and others. Prominent service providers are continuously focusing on strategic acquisitions in order to expand their geographic presence and business operations. For instance,

In August 2019 TÜV Rheinland acquired Certio ITV. This strategic acquisition strengthens the mobility business area with 12 new periodical technical inspection centers
In December 2018, Mistras Group acquired on-stream pipeline inspection services. The acquisition provides company diversification in their business operations. It will also enable company to leverage strength in the midstream segment

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Global Bridge Inspection Services Market: Segmentation

Segmentation table of the global bridge inspection services market has been provided below on the basis of inspection, inspection purpose, bridge category, testing, bridge construction and region.

By Inspection :
Superficial / Initial
Routine
Principal
Special
Damage
By Inspection Purpose :
Inventory Inspection
Condition Inspection
Maintenance Inspection
Rehabilitation Inspection
By Bridge Category :
Transportation Over bridge
On Land
On Water Bodies
Pedestrian (Foot) Over Bridge
On Road
Transit Stations (Railways, Airport etc.)
Commercial Spaces and Amusement Parks
Railway Over bridge
Pipeline Bridge
By Testing :
Concrete Structure Testing
Rebound Hammer Test
Carbonation Depth
Ultrasonic Pulse Velocity Test
Half Cell Electric Potential Test
Rebar Detection Test
Infrared Thermal Imaging Test
Compressive Strength Test
Steel Structure Testing
Paint Thickness Test
Metal Thickness Test
Magnetic Particle Testing
Eddy Current Testing
Special Non-Destructive Test
Ultrasonic Flow Detection Test
Static Load Carrying Test
Dynamic Load Carrying Test
Ambient Vibration Test
Impact Vibration Test.
SONAR Test (For Scouring)
Impact Echo Test
X-Ray Test
In-Situ Stress Measurement Test.
By Bridge Construction :
Permanent Bridges
Fixed Bridges
Movable Bridges
Temporary Bridges
Fixed Bridges
Movable Bridges
By Region :
North America
Europe
Asia-Pacific
Rest of the World

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The study on the global market for bridge inspection services addresses a number of critical issues, including the following:


What are some potential investment opportunities in the bridge inspection services market?
Which region is expected to have the most tempting growth rate over the forecast period, and what factors will be critical to its expansion?
What changes are most likely to change the current position of the dominant players in the market for bridge inspection services in the not-too-distant future?
Which product, service, or technology segments have the potential to completely alter the competitive landscape in the market for bridge inspection services?
What strategies are the leading companies employing to preserve their market dominance in bridge inspection services?
What strategic actions will be taken?

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