Press release
Pedestrian Bridge Market Analysis 2024 -2033: Forecasted Market Size, Top Segments, And Largest Region
The Business Research Company offers in-depth market insights through Pedestrian Bridge Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The pedestrian bridge market size has grown strongly in recent years. It will grow from $90.02 billion in 2023 to $95.66 billion in 2024 at a compound annual growth rate (CAGR) of 6.3%. The growth in the historic period can be attributed to urbanization, population growth, infrastructure development, tourism and recreation, safety concerns.
The pedestrian bridge market size is expected to see strong growth in the next few years. It will grow to $120.11 billion in 2028 at a compound annual growth rate (CAGR) of 5.9%. The growth in the forecast period can be attributed to public transport integration, integration with smart city initiatives, rising awareness of health benefits, bike-friendly infrastructure, adaptive reuse of existing structures. Major trends in the forecast period include architectural innovation, focus on inclusive design, eco-friendly design trends, technological advancements in construction materials, integration with green spaces, digital twin technology.
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Market Segmentation:
The pedestrian bridge market covered in this report is segmented -
1) By Type: Truss Bridges, Beam Bridges, Suspension Bridges, Cable-Stayed Pedestrian Bridges, Arch Bridges
2) By Material: Concrete, Steel, Composite, Other Materials
3) By Construction Type: New Construction, Reconstruction And Repair
4) By End-User: Public, Private, Industrial, Transportation, Parks And Recreational Facilities
Major Driver - Government Investments In Public Infrastructure Propel Pedestrian Bridge Market Expansion
Government investments in the development of public infrastructure, such as roads, are expected to propel the growth of the pedestrian bridge market going forward. Government investments refer to allocating financial resources by a government into various projects, sectors, or assets to achieve specific economic, social, or developmental objectives. Several government authorities are investing in developing public infrastructure such as roads. For instance, in May 2023, according to the Government of Western Australia, an Australia-based official website, the Australian government allocated $5.3 billion to improve and renew road infrastructure in the 2023-24 state budget. This budget includes the development of all regional road projects. Therefore, government investments in the development of public infrastructure, such as roads, drive the pedestrian bridge market.
Competitive Landscape:
Major companies operating in the pedestrian bridge market report are Skanska AB, Kiewit Corporation, SNC-Lavalin Group Inc., Arup Group, Contech Engineered Solutions LLC, Mace Group Ltd, Walsh Group Inc., Southland Holdings Inc, Flatiron Construction Corporation, Cianbro Corporation, Kinsley Construction, Skidmore Owings & Merrill LLP, TrueNorth Steel Inc., Denton Corker Marshall LLP, McLean Contracting Company, IJP Corporation Ltd, Creative Pultrusions Inc., Bridge Brothers Inc., Conti Corporation, Lonestar Prestress Manufacturing Inc., Backwoods Bridges LLC, Nature Bridges, Big R Bridge, Modjeski and Masters Inc., Bridge Masters Inc., Landmark Products Pty Ltd.
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Top Trend - Revolutionizing Urban Infrastructure Through Real-Time Monitoring Technology
Technology developments are a key trend gaining popularity in the pedestrian bridge market. Major companies operating in the pedestrian bridge market are focused on developing advanced technologies to meet specific demands and sustain their position in the market. For instance, in July 2022, MX3D, a Netherlands-based software company, unveiled the world's first 3D-printed steel footbridge, featuring cutting-edge sensors that measure pedestrian traffic in real-time. The 12-meter futuristic structure was designed using 3D printing techniques and welding robots. The bridge's sensors will monitor its state in real-time and track changes as locals and tourists use it. The data will help architects and engineers understand the long-term behavior of 3D-printed steel and its potential use in future construction projects.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Pedestrian Bridge Market Characteristics
3. Pedestrian Bridge Market Trends And Strategies
4. Pedestrian Bridge Market - Macro Economic Scenario
5. Pedestrian Bridge Market Size And Growth
…..
27. Pedestrian Bridge Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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