Bridges And Tunnels Market Size, Share And Trends Analysis Report 2024-2033

The Business Research Company has updated its global market reports, featuring the latest data for 2024 and projections up to 2033

The Business Research Company presents an extensive market research report on the Bridges And Tunnels Global Market Report 2024, furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.

Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.

Market Sizing:

The bridges and tunnels market size has grown strongly in recent years. It will grow from $144.19 billion in 2023 to $152.99 billion in 2024 at a compound annual growth rate (CAGR) of 6.1%. The growth in the historic period can be attributed to urbanization, population growth, maintenance and upgrades, environmental regulations, economic development.

The bridges and tunnels market size is expected to see strong growth in the next few years. It will grow to $195.91 billion in 2028 at a compound annual growth rate (CAGR) of 6.4%. The growth in the forecast period can be attributed to smart infrastructure, sustainable practices, urban planning initiatives, resilience and climate change adaptation, public-private partnerships. Major trends in the forecast period include digitalization and BIM, technological integration for safety, technological advancements, digital twin technology, advanced materials and construction techniques.

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Key Market Players:

Major companies operating in the bridges and tunnels market report are China State Construction Engineering Corporation Limited, China Railway Construction Corporation Limited, China Communications Construction Company Limited, Bouygues S.A., Hochtief AG, Larsen & Toubro Construction, Kajima Corporation, Bechtel Corporation, Kiewit Corporation, Fluor Corporation, AECOM Technology Corporation, Acciona S.A., Balfour Beatty plc, Bilfinger Berger AG, Aecon Group Inc., Daelim Industrial Co. Ltd., Tutor Perini Corporation, Construcciones y Auxiliar de Ferrocarriles (CAF), Granite Construction Inc., Hatch Ltd., Construction Partners Inc., Copasa Group, Lane Construction Corporation, Dywidag Interbuild GmbH, American Bridge Company, Dragados Inc., ECC Group plc, 3TI Progetti S.p.A., Aktor SA, Abertis Infraestructuras S.A.

Market Drivers:

The increasing number of automobiles on roads is expected to propel the growth of the bridges and tunnels market going forward. An automobile is a four-wheeled vehicle powered by an internal combustion engine. It is commonly known as a car and is among the most popular modes of transportation. Automobiles are typically transported via bridges and tunnels. Automobiles drive across rivers and through tunnels and bridges to avoid traffic and cross valleys; it makes the journey easy and safe. For instance, in March 2022, according to a report published by the European Automobile Manufacturers' Association (ACEA), the main lobbying and standards group for the automobile industry in the European Union, sales of passenger cars in the US increased by 5.5% from 2020 to 11.9 million units in 2021. Over 6.3 million passenger cars were produced in US auto facilities in 2021, an increase of 3.1% from 2020. Chinese automakers produced 20.7 million vehicles in 2021, an increase of 7.1%. In 2021, the total number of cars produced worldwide climbed by 2.7% to 63.2 million. Therefore, the increasing number of automobiles on roads is driving the growth of the bridges and tunnels market.

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The bridges and tunnels market covered in this report is segmented -
1) By Type: Tunnel, Bridge
2) By Material: Steel, Concrete, Composite Material
3) By Application: Commercial, Government

The report answers the following questions:

What are the primary factors propelling the market during the projected period?

In which region is the most substantial growth expected?

Which trend will take center stage in the upcoming period?

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