Highway, Street, And Bridge Construction Market Analysis, Trends, Growth, Research And Forecast 2033

The Business Research Company has updated its global market reports, featuring the latest data for 2024 and projections up to 2549

The Business Research Company presents an extensive market research report on the Highway, Street, And Bridge Construction 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 highway, street, and bridge construction market size has grown steadily in recent years. It will grow from $896.65 billion in 2023 to $938.74 billion in 2024 at a compound annual growth rate (CAGR) of 4.7%. The growth in the historic period can be attributed to population growth and urbanization, aging infrastructure replacement, government funding and initiatives, transportation network enhancement, economic development goals.

The highway, street, and bridge construction market size is expected to see strong growth in the next few years. It will grow to $1142.88 billion in 2028 at a compound annual growth rate (CAGR) of 5.0%. The growth in the forecast period can be attributed to smart city initiatives, environmental sustainability focus, increased urban mobility solutions, resilience and climate adaptation, private sector participation. Major trends in the forecast period include incorporation of innovative materials and composites, collaboration with public-private partnerships (PPPs), focus on safety and intelligent construction equipment, adoption of 3D printing in construction, introduction of sustainable transportation infrastructure financing.

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Key Market Players:

Major companies operating in the highway, street, and bridge construction market report are China State Construction Engineering Corporation Ltd., China Railway Group Ltd., China Communications Construction Company Limited, Vinci SA, Bouygues SA, Laing O'Rourke, ACS Group S.A., Grupo ACS, Samsung C&T Corporation, Hochtief AG, Larsen & Toubro Ltd., Strabag SE, Bachtel Corporation, Jacobs Engineering Group Inc., Skanska AB, Colas Group, Fluor Corporation, Turner Construction, Kiewit Corporation, AECOM, Balfour Beatty plc, Ferrovial SA, PCL Construction, Stantec Inc., Tutor Perini Corporation, Granite Construction Inc., Heijmans N.V., Flatiron Construction Corp., Lane Construction Corporation, Continental Engineering Corporation, Eurovia Ltd.

Market Drivers:

Increased infrastructure investments across the globe are significantly contributing to the growth of the highway, street, and bridge construction market going forward. An infrastructure investment refers to an investment fund that concentrates on specific securities within the sectors that create the country's infrastructure. This includes making investments in the infrastructure and services that the general population uses to live, work, and travel. Highway, street, and bridge construction and renovation all fall under public or private infrastructure. For instance, according to a report shared by USA Facts, a US-based non-profit organization and website that provides data and reports on the United States population, spending on infrastructure and transportation in 2022 will be 21% greater than it was in 2019 before the epidemic. Highway transportation accounted for about 39% of federal investment in infrastructure and transportation in 2022, while rail and mass transit accounted for 28%. The remainder went to water (9%), and 22% went to air travel. Therefore, increased infrastructure investments across the globe are driving the growth of the highway, street, and bridge construction market.

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The highway, street, and bridge construction market covered in this report is segmented -

1) By Type: Highway, Street, Bridge
2) By Construction Type: New Construction, Reconstruction And Repair
3) By Funding: Government Funding, Private Funding

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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