Press release
Global Bridges And Tunnels Market: Soaring at 6.7% CAGR to Reach $158.42 Billion in 2025 Driven by Urbanisation Growth and Increased Automobile Use
Global Bridges And Tunnels Market
What Is The Projected Market Size Of The Global Bridges And Tunnels Market And Its Growth Rate?
The Bridges and Tunnels Market is projected to grow substantially in the coming years due to various factors:
•The market is expected to grow from $148.49 billion in 2024 to reach a size of $158.42 billion in 2025, showcasing a compound annual growth rate (CAGR) of 6.7%.
•The elements behind this growth include urbanization, population growth, maintenance and upgrades, environmental regulations, and economic development.
•Continued growth is expected beyond 2025, with the size projected to reach $208.16 billion in 2029 at a CAGR of 7.1%.
•Factors attributing to this forecasted growth include smart infrastructure, sustainable practices, urban planning initiatives, resilience and climate change adaptation, and public-private partnerships.
What Is Driving The Growth In The 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. The route to transportation through bridges and tunnels eases the journey, providing accessibility across rivers, through valleys and aids in traffic avoidance. For instance, in 2022, Canada saw a slight increase in the total number of registered road motor vehicles, reaching 26.3 million, a 0.3% rise compared to the previous year, adding an extra 78,655 units on the roads according to Statistics Canada. This trend indicates a direct correlation between the rise in automobiles and the growth of the bridges and tunnels market.
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Who Are the Key Players Driving Bridges And Tunnels Market Growth?
Major companies operating in the bridges and tunnels market include:
•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.
What Are The Key Trends In The Bridges And Tunnels Market?
Key trends in the forecasted period include:
•Digitalization and Building Information Modeling (BIM)
•Technological integration for safety
•Technological advancements
•Digital twin technology
•Advanced materials and construction techniques
What Are The Segments Of The Global Bridges And Tunnels Market?
The global bridges and tunnels market can be divided into different segments based on type, material, and application:
•By Type: Tunnel and Bridge
•By Material: Steel, Concrete, and Composite Material
•By Application: Commercial and Government
Which Region Leads The Bridges And Tunnels Market?
The Asia-Pacific region was the largest player in the bridges and tunnels market in 2024, followed by Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The region's dominance can be attributed to rapid urbanization, population growth, and economic development.
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What Is Covered In The Bridges And Tunnels Market Global Market Report?
- Market Size Analysis: Analyze the Bridges And Tunnels Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Bridges And Tunnels Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Bridges And Tunnels Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Bridges And Tunnels Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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