Press release
Roads Market: Steady Rise to $329.77 Billion by 2029 Driven by Urbanization and Integration of Smart Technologies
Roads Market
What Is The Projected Market Size Of The Global Roads Market And Its Growth Rate?
• The market size for roads has experienced steady growth, projecting a rise from $271.53 billion in 2024 to $280.82 billion in 2025, marking a compound annual growth rate (CAGR) of 3.4%.
• Over the next few years, the roads market is expected to continue this upward trajectory and reach $329.77 billion in 2029 with a compound annual growth rate (CAGR) of 4.1%.
What Is Driving The Growth In The Roads Market?
The primary driver for the growth in the roads market is the rising number of vehicles on the road. As transportation machines, vehicles predominantly make use of roads for transportation, pushing the demand for road constructions. Increased growth in vehicle numbers is anticipated by December 2025 with an expected 3.5 million self-driving vehicles hitting U.S. roads which will eventually increase to 4.5 million by 2030, as projected by the National Association of Insurance Commissioners, a US-based non-profit organization. These increases underline the growing demand for the road market.
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Who Are the Key Players Driving Roads Market Growth?
Key players in the roads market include:
• 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
What Are The Key Trends In The Roads Market?
• Adoption of advanced materials
• Integration of autonomous vehicles
• Public-private partnerships
• Multimodal transportation integration
• Resilience and climate adaptation
What Are The Segments Of The Global Roads Market?
1) By Component: Hardware, Software, Service
2) By Type: Highway, Street, Bridge
3) By Construction Type: New Construction, Reconstruction, Repair
Which Region Leads The Roads Market?
Asia-Pacific as the prime region leads the roads market as of 2024. The report also covers Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
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What Is Covered In The Roads Market Global Market Report?
-Market Size Analysis: Analyzing the Roads Market size by key regions, countries, product types, and applications.
-Market Segmentation Analysis: Identifying various subsegments within the Roads Market for effective categorization.
-Key Player Focus: Focusing on key players to define their market value, share, and competitive landscape.
-Growth Trends Analysis: Examining individual growth trends and prospects in the Market.
-Market Contribution: Evaluating contributions of different segments to the overall Roads Market growth.
-Growth Drivers: Detailing key factors influencing market growth, including opportunities and drivers.
-Industry Challenges: Analyzing challenges and risks affecting the Roads Market.
-Competitive Developments: Analyzing competitive developments, such as expansions, agreements, and new product launches in the market.
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