Pedestrian Bridge Market growing at a CAGR of 4.6% and is projected to reach $142.3 billion by 2031

The pedestrian bridge market has experienced significant growth in the past decade, primarily driven by the increasing number of roads requiring safe pedestrian crossings. Additionally, the rise in tourism is another major factor propelling the expansion of the pedestrian bridge market.

According to a report published by Allied Market Research titled "𝐏𝐞𝐝𝐞𝐬𝐭𝐫𝐢𝐚𝐧 𝐁𝐫𝐢𝐝𝐠𝐞 𝐌𝐚𝐫𝐤𝐞𝐭," the market size was valued at $90.3 billion in 2021 and is projected to reach $142.3 billion by 2031, growing at a CAGR of 4.6% from 2022 to 2031. The surge in investment in public infrastructure, such as roads and bridges, by government bodies to improve community safety has further fueled market growth. The rapid expansion of urban populations has also necessitated the construction of pedestrian bridges to accommodate increasing foot traffic and ensure safe road crossings.

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐏𝐃𝐅 𝐒𝐚𝐦𝐩𝐥𝐞 𝐂𝐨𝐩𝐲@ https://www.alliedmarketresearch.com/request-sample/A53543

Pedestrian bridges are engineered and designed in various ways based on the length and load of traffic they are expected to support. The report categorizes pedestrian bridges into four main types: truss bridges, beam bridges, suspension bridges, and arch bridges. Among these, the beam bridge segment dominated the market in 2021 and is expected to continue leading with a significant CAGR during the forecast period. The popularity of beam bridges is attributed to their ease of construction and maintenance, which ultimately reduces long-term operational costs.

In terms of construction type, the pedestrian bridge market is divided into new construction and reconstruction & repair. The new construction segment contributed significantly to the total revenue in 2021, while the reconstruction and repair segment is expected to grow at a higher CAGR throughout the forecast period. This growth is driven by aging infrastructure that requires frequent maintenance and upgrading to meet modern safety standards.

The market is also segmented by material type, including concrete, steel, and others. Among these, the steel segment accounted for the largest share of revenue in 2021, owing to its advantages such as lightweight properties, ease of molding into different shapes, and faster construction timelines compared to concrete. The "others" segment, which includes innovative materials like composite plastics and aluminum, is expected to grow significantly during the forecast period as new materials become increasingly viable for pedestrian bridge construction.

𝐄𝐧𝐪𝐮𝐢𝐫𝐞 𝐁𝐞𝐟𝐨𝐫𝐞 𝐩𝐮𝐫𝐜𝐡𝐚𝐬𝐞@ https://www.alliedmarketresearch.com/purchase-enquiry/A53543

Key factors driving market growth include increasing urbanization and the expansion of urban infrastructure, a booming tourism industry, and the rising number of roads requiring pedestrian crossings. However, challenges such as fluctuating raw material costs and high maintenance expenses pose potential restraints to market expansion. Frequent maintenance is essential to ensure the longevity and safety of pedestrian bridges, leading to substantial long-term costs. Despite these challenges, the market is expected to benefit from advancements in construction technology, such as 3D-printed pedestrian bridges. These innovative bridges offer cost savings, improved design flexibility, and reduced material waste, providing new growth opportunities for the industry. Additionally, some companies have begun repurposing old infrastructure components, such as wind turbine blades, to construct pedestrian bridges, contributing to sustainability efforts.

In 2021, Asia-Pacific dominated the global pedestrian bridge market in terms of revenue and is anticipated to experience the highest CAGR during the forecast period. The region's growth is largely attributed to significant investments in infrastructure development in countries such as India, Vietnam, and China. Rapid urbanization and government-led infrastructure projects in these countries are expected to drive further demand for pedestrian bridges. North America was the second-largest contributor to market revenue in 2021, followed by Europe and LAMEA (Latin America, Middle East, and Africa).

The COVID-19 pandemic had a notable impact on the pedestrian bridge market, causing temporary business closures in key markets such as India, China, Vietnam, Germany, and the U.S. Lockdowns disrupted supply chains, led to a shortage of raw materials, and delayed construction projects. However, with the widespread availability of vaccines and the easing of pandemic-related restrictions, the market has been on a path to recovery. Despite concerns over potential resurgences of COVID-19 cases, particularly in China in late 2022, key industry players have been making cautious yet strategic decisions to navigate the uncertain landscape.

Several prominent companies play a crucial role in shaping the pedestrian bridge market. Key players profiled in the market report include Arup Group, Backwoods Bridges, Contech Engineered Solutions LLC, Denton Corker Marshall, IJP Corporation Ltd, Landmark Products Pty Ltd, Mace Group, Nature Bridges, Skidmore, Owings & Merrill (SOM), and The Walsh Group. These companies focus on designing and constructing new pedestrian bridges, adopting innovative technologies, and forming strategic partnerships to maintain a competitive edge in the industry.

𝐅𝐮𝐥𝐥 𝐑𝐞𝐩𝐨𝐫𝐭 𝐖𝐢𝐭𝐡 𝐓𝐎𝐂: https://www.alliedmarketresearch.com/pedestrian-bridge-market-A53543

𝐊𝐞𝐲 𝐅𝐢𝐧𝐝𝐢𝐧𝐠𝐬 𝐨𝐟 𝐭𝐡𝐞 𝐒𝐭𝐮𝐝𝐲

The report provides an extensive analysis of current and emerging trends in the pedestrian bridge market, along with in-depth insights into market dynamics.

The beam bridges segment dominated the market in terms of revenue in 2021 and is expected to maintain its lead due to its cost-effectiveness and ease of maintenance.

By construction type, the new construction segment accounted for the highest market share in 2021, while the reconstruction and repair segment is projected to grow at a higher CAGR during the forecast period.

The steel segment led the market in terms of material usage in 2021, owing to its lightweight nature and faster construction timeframes.

Asia-Pacific is projected to register the highest growth rate in the coming years due to rapid urbanization and increased government investment in infrastructure development.

The key players in the pedestrian bridge market are profiled in the report, and their strategies are analyzed to provide insights into the competitive landscape of the industry.

The report also highlights emerging opportunities in the market, including advancements in 3D-printed bridges and the repurposing of old infrastructure materials for sustainable construction.

About Allied Market Research:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the report

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This release was published on openPR.