Press release
Bridge Construction Market Growth, Regions, Technology, Analysis of Trends and Forecasts 2030
Bridge Construction Market
The major players profiled in the bridge construction market analysis 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.
The global bridge construction market size was valued at $857.7 billion in 2020, and is projected to reach $1,416.9 billion by 2030, registering a CAGR of 5.0% from 2021 to 2030.
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Asia-Pacific generated the highest revenue in 2020, and is expected to grow at a high 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, 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 bridge construction players.
Major types of bridge construction products included in the report are beam, truss, arch, suspension, cable-stayed, and others. The others segment includes stressed ribbon, pile, covered, cantilever bridge, and others. The beam bridge construction constituted the highest market share in 2020, owing to increased demand in the transport infrastructure industry.
The global Bridge Construction report offers quantitative and qualitative analysis of the market from 2021 to 2030. The qualitative study emphasizes on the value chain analysis, pain point analysis, and key regulations.
• Value chain analysis: AMR offers a complete analysis of all the stages along with the key stakeholders functioning in every stage with their strategic decisions on board.
• Key regulations: Allied Market Research provides key regulations and standards for the Bridge Construction Market. The section also presents some of the regulatory documents of the product type.
• Pain point analysis: The report also offers insights on the key challenges faced by the stakeholders in the industry. The strategic decisions adopted by the market players to maintain their foothold in the market are also discussed through the report.
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By application, the road and highway segment accounted for the maximum bridge construction market share in 2020, and is expected to maintain its lead throughout the forecast period. This is attributed to rapid urbanization & industrialization, an increase in population, as well as the governments' continuing efforts to expand and upgrade the transport infrastructure.
By material, the concrete segment accounted for the largest market share in the bridge construction market in 2020. The steel bridges are widely used for railway networks that facilitate inter-state and inter-country connectivity along with other economic activities such as trading activities. With an aim to achieve enhanced economic productivity, governments across various countries indulge in increased investments in railway constructions. Increased railway constructions lead to infrastructural development, which includes bridges made of steel. Hence, railway infrastructural developments drive the bridge construction market trends.
Key Market Segments -
By Type -
Beam Bridge
Truss Bridge
Arch Bridge
Suspension Bridge
Cable-Stayed Bridge
By Application -
Road & Highway
Railway
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Key Findings Of The Study
• By type, the beam bridge segment was the highest revenue contributor in 2020.
• Depending on material, the concrete segment dominated the market in 2020.
• On the basis of application, the road & highway segment led the market in 2020.
• Region, Asia-Pacific generated the highest revenue in 2020.
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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 domain.
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