Global Transportation Infrastructure Market Is Estimated To Reach $3606.8 Billion By 2031, Growing At A CAGR Of 7.2%

According to a new report published by Allied Market Research, titled, "Global Transportation Infrastructure Market," The global transportation infrastructure market size was $1.8 trillion in 2021, and is estimated to reach $3606.8 billion by 2031, growing at a CAGR of 7.2% from 2022 to 2031.

In 2021, Asia-Pacific dominated the market, in terms of revenue, accounting for around 48% transportation infrastructure market share of the global market.

The design of transportation infrastructure must be responsive to the needs of the maritime, logistics, and transportation industries. Transportation infrastructure is the type of infrastructure that includes the construction and maintenance of roads, ports, bridges, railways, and airports.

An increase in public investment in transportation infrastructure to ensure safe and efficient economic activities is expected to drive the growth of the global transportation infrastructure market. Moreover, surge in demand for transportation of liquefied natural gas export by sea is expected to contribute to the transportation infrastructure market growth. In addition, many industries depend on ocean shipping to import or export goods globally which further grows the use of port for the market.

However, trade barriers are hindering the growth of the transportation infrastructure industry. Trade barriers are the tariffs on imported goods. Tariffs make imported goods more expensive as tariff imports reduce. For instance, the U.S. imports from China were high compared to exports to China. The U.S. Government had introduced a tariff system to control imports and bail out domestic businesses.

𝐆𝐞𝐭 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐟𝐮𝐥 𝐈𝐧𝐟𝐨𝐫𝐦𝐚𝐭𝐢𝐨𝐧 - https://www.alliedmarketresearch.com/transportation-infrastructure-market/amp

However, construction and maintenance of port infrastructure require a large amount of capital investment and construction completion time. Hence, this is expected to serve as a potential barrier for the growth of the market.

In addition, the outbreak of COVID-19 has led to halt in logistic and manufacturing activities across the globe, which, in turn, disrupted the supply chain, thereby hindering growth of the transportation infrastructure market. However, this situation is expected to improve as government is relaxing norms around the world for resuming business activities.

The use of automation in port infrastructure has grown over the years. The use of IoT & AI for cargo and transport management can shorten the time necessary for waterway transport delivery. Hence, this is likely to offer new opportunity for the market growth. A country's economic progress is aided by efficient trade activities. As a result, sea ports play an important role in economic activities, particularly in coastal locations. Every year, the number of passengers traveling by sea and the number of commodities transported by water increase at a substantial rate. As a result, this aids in the development of port infrastructure.

The transportation infrastructure market is segmented on the basis of type, application, construction type, and region. By type, the transportation infrastructure market is fragmented into railway, airport, roads & bridges, and ports. By application, the market is categorized into urban and rural. By construction type, the market is divided into new construction and renovation. By region, the transportation infrastructure market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, the UK, France, Italy, and rest of Europe), Asia-Pacific (China, India, Japan, South Korea, and rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa).

The major players profiled in the transportation infrastructure market include ACS Group, Balfour Beatty plc, Bechtel Corporation, Bouygues Construction SA., CK Hutchison Holdings, Globalvia Inversiones SA, kiewit Corporation, laing o'rourke, Larsen & Toubro Ltd and Vinci SA.

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