Bridges And Tunnels Market Research, Size, Share And Demand Analysis By 2033

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.

Market Overview -
Bridges and tunnels refer to long-term, continuous transportation infrastructure constructions. A bridge is a structure that spans a river, road, walk, railway, etc, and a tunnel is an artificial underground passage, especially one built through a hill or under a building, road, or river.

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Rising Automobile Numbers Fueling Growth In Bridges And Tunnels Market
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.

Competitive Landscape -
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.

Technological Advancements Propel Bridges And Tunnels Market Growth
Technological development is a key trend gaining popularity in the bridges and tunnels market. Major companies operating in the bridges and tunnels market are focused on developing innovative solutions to strengthen their position in the market. For instance, in January 2023, Acciona, S.A., a Spain-based construction and infrastructure company, launched its new tunnel technology solution called Digitunnel, a real-time technology to provide better control and ensure progress in the tunnel's construction projects. This technology is a solution that gathers and combines copious volumes of real-time data created at the project site, turning it into information that is useful and accessible to all parties. This invention offers real-time updates on the project's status, improves worker safety, and significantly lessens human control and documentation need. Additionally, this technology will quickly identify any potentially harmful gases in the tunnel, improving worker safety.

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Key Segments -

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

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

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