Roads Market Analysis, Trends & Growth Forecast 2024-2033

The Business Research Company recently released a comprehensive report on the Global Roads Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

According to The Business Research Company's, The roads market size has grown steadily in recent years. It will grow from $277.51 billion in 2023 to $287.46 billion in 2024 at a compound annual growth rate (CAGR) of 3.6%. The growth in the historic period can be attributed to population growth and urbanization, economic development, industrialization and trade, government infrastructure investments, changing mobility patterns..

The roads market size is expected to see steady growth in the next few years. It will grow to $336.02 billion in 2028 at a compound annual growth rate (CAGR) of 4.0%. The growth in the forecast period can be attributed to renewable energy integration, urban mobility solutions, smart city initiatives, resilience planning, sustainable transportation. Major trends in the forecast period include adoption of advanced materials, integration of autonomous vehicles, public-private partnerships, multimodal transportation integration, resilience and climate adaptation..

Get The Complete Scope Of The Report @
https://www.thebusinessresearchcompany.com/report/roads-global-market-report

Market Drivers and Trends:

The rising number of vehicles is expected to propel the growth of the roads market going forward. Vehicles are machines that transport people or products, often on land, and are often equipped with wheels and an engine, such as motor vehicles. Vehicles predominantly use roads for transportation, and they frequently rely on roads to convey people and commodities. This will drive demand for road constructions. 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, the sales of passenger cars in the USA increased by 5.5% from 2020 to 11.9 million units in 2021. Over 6.3 million passenger cars were produced in the 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 rising number of vehicles is driving the growth of the roads market.

Technological advancement is a key trend gaining popularity in the roads market. Major companies operating in the roads market are focused on using advanced technologies in road construction operations, to strengthen their position in the market. For instance, in February 2023, the Ministry of Road Transport and Highways, an organization under the Central Government of India, launched Skye UTM, an unmanned traffic management system that helps speed up highway construction, monitors deadly traffic accidents, and supervises real-time traffic monitoring. Skye UTM is a cloud-based system for managing air traffic that links manned and unmanned flights together. In order to provide situational awareness, autonomous navigation, risk assessment, and traffic management to all drone and other aerial mobility operators throughout the airspace, Skye UTM is the most sophisticated and indigenous aerial traffic management platform.

Key Benefits for Stakeholders:

• Comprehensive Market Insights: Stakeholders gain access to detailed market statistics, trends, and analyses that help them understand the current and future landscape of their industry.
• Informed Decision-Making: The reports provide crucial data that support strategic decisions, reducing risks and enhancing business planning.
• Competitive Advantage: With in-depth competitor analysis and market share information, stakeholders can identify opportunities to outperform their competition.
• Tailored Solutions: The Business Research Company offers customized reports that address specific needs, ensuring stakeholders receive relevant and actionable insights.
• Global Perspective: The reports cover various regions and markets, providing a broad view that helps stakeholders expand and operate successfully on a global scale.

Ready to Dive into Something Exciting? Get Your Free Exclusive Sample of Our Research Report @
https://www.thebusinessresearchcompany.com/sample.aspx?id=9727&type=smp

Major Key Players of the Market:

Afcons Infrastructure Limited; Dilip Buildcon Limited; Tata Projects Limited; China Communications Construction Company Ltd.; Granite Construction Inc.; Hunan Road and Bridge Construction Group Co. Ltd.; Kiewit Corporation; Lane Construction Corporation; Sichuan Railway Investment Group Co. Ltd.; Larsen & Toubro Limited; IRB Infrastructure Developers Limited; H.G. Infra Engineering Limited; NCC Infrastructure Holdings Limited; Stanley Road Construction; Muscat Road Construction & Civil Works LLC; PNC Infratech Limited; New Road Construction Management Co. Inc.; Caterpillar Inc.; Komatsu Ltd.; Volvo Construction Equipment; Wirtgen GmbH; Dynapac Road Construction Equipment India Pvt. Ltd.; The Lane Construction Corporation; IRB Infrastructure Developers Ltd.; JMC Projects Ltd.; Gayatri Projects Limited; Hindustan Construction Company Limited; Nagarjuna Construction Company Limited; Bhartia Infra Projects Ltd.; Sany Heavy Industry Co. Ltd.; Palfinger AG; Liebherr-International AG; Deere & Company; Zoomlion Heavy Industry Science and Technology Co. Ltd.; Fayat Group; Wacker Construction Equipment AG; Ammann Group Holding AG; CNH Industrial; Hitachi Sumitomo Heavy Industries Construction Cranes Co. Ltd.

Roads Market 2024 Key Insights:

• The roads market will grow to $336.02 billion in 2028 at a compound annual growth rate (CAGR) of 4.0%.
• Driving Infrastructure Growth Surge In Vehicle Numbers Propels Expansion Of The Roads Market
• Elevating Road Construction Integration Of Advanced Technologies With The Launch Of Skye Utm By The Ministry Of Road Transport And Highways
• Asia-Pacific was the largest region in the roads market in 2023

We Offer Customized Report, Click @
https://www.thebusinessresearchcompany.com/Customise?id=9727&type=smp

Contact us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 8897263534
Americas: +1 315 623 0293
Email: info@tbrc.info
Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
Facebook: https://www.facebook.com/TheBusinessResearchCompany
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Blog: https://blog.tbrc.info/
Healthcare Blog: https://healthcareresearchreports.com/
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model
Latest Trending Press Releases: https://www.thebusinessresearchcompany.com/press-release.aspx

Learn More About The Business Research Company

The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.

This release was published on openPR.