Press release
Pedestrian Bridge Market Poised for 6 % Growth, Set to Hit $129.06 Billion by 2029
Pedestrian Bridge Market
The pedestrian bridge market is expected to surge due to government investments channeled into enhancing public facilities, such as roads. Such investments denote the allocation of fiscal resources by the government into varying projects, sectors, or assets to fulfill certain economic, social, or developmental goals. Numerous governmental bodies direct their funds toward the advancement of public amenities like roads. For example, in May 2023, as reported by the Government of Western Australia, an official Australian website, the country's government designated $5.3 billion for the renewal and augmentation of road infrastructure in the 2023-24 state budget. The budget provision comprises the construction of all regional road projects. Hence, government funds poured into bolstering public infrastructure, including roads, are driving the pedestrian bridge market.
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What Is the projected market size and growth rate for the pedestrian bridge market?
The market size of the pedestrian bridge has been bolstered significantly in the past years. It is projected to increase from $94.86 billion in 2024 to $100.39 billion in 2025, with a compound annual growth rate (CAGR) of 5.8%. The growth seen in the historic period is associated with factors like urbanization, population expansion, development of infrastructure, tourism and leisure activities, and issues regarding safety.
The market for pedestrian bridges is predicted to witness solid expansion in the forthcoming years. Its size is forecasted to reach $129.06 billion by 2029, growing at a compound annual growth rate (CAGR) of 6.5%. The anticipated rise during this period is due to factors such as integration with public transport, aligning with smart city projects, growing consciousness of health benefits, bicycle-friendly facilities, and the adaptable reutilization of already present structures. Chief trends for the forecast period encompass architectural creativity, emphasis on universal design, sustainable design tendencies, advancements in construction material technology, synergy with green spaces, and the use of digital twin technology.
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What are the emerging trends shaping the future of the pedestrian bridge market?
Advancements in technology are emerging as a prominent trend in the pedestrian bridge sector. Firms established in this sector are prioritizing the development of innovative technologies to cater to specific needs and maintain their market standing. For example, MX3D, a software company based in the Netherlands, revealed the first-ever 3D-printed steel footbridge in the world in July 2022. This bridge, equipped with state-of-the-art sensors that measure pedestrian traffic in real-time, was brought to life using 3D printing methodologies and welding robots. The embedded sensors in the bridge will continually monitor its status and record shifts as it is utilized by tourists and locals alike. This information will aid architects and engineers in comprehending the enduring nature of 3D-printed steel, and how it can be used advantageously in impending construction ventures.
What major market segments define the scope and growth of the pedestrian bridge market?
The pedestrian bridge market covered in this report is segmented -
1) By Type: Truss Bridges, Beam Bridges, Suspension Bridges, Cable-Stayed Pedestrian Bridges, Arch Bridges
2) By Material: Concrete, Steel, Composite, Other Materials
3) By Construction Type: New Construction, Reconstruction And Repair
4) By End-User: Public, Private, Industrial, Transportation, Parks And Recreational Facilities
Subsegments:
1) By Truss Bridges: Warren Truss Bridges, Pratt Truss Bridges
2) By Beam Bridges: Simple Beam Bridges, Continuous Beam Bridges
3) By Suspension Bridges: Single Tower Suspension Bridges, Multiple Tower Suspension Bridges
4) By Cable-Stayed Pedestrian Bridges: Fan System Cable-Stayed Bridges, Harp System Cable-Stayed Bridges
5) By Arch Bridges: Rigid Arch Bridges, Tied Arch Bridges
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Which region dominates the pedestrian bridge market?
Asia-Pacific was the largest region in the pedestrian bridge market in 2024. The regions covered in the pedestrian bridge market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Which key market leaders are driving the pedestrian bridge industry growth?
Major companies operating in the pedestrian bridge market include Skanska AB, Kiewit Corporation, SNC-Lavalin Group Inc., Arup Group, Contech Engineered Solutions LLC, Mace Group Ltd, Walsh Group Inc., Southland Holdings Inc, Flatiron Construction Corporation, Cianbro Corporation, Kinsley Construction, Skidmore Owings & Merrill LLP, TrueNorth Steel Inc., Denton Corker Marshall LLP, McLean Contracting Company, IJP Corporation Ltd, Creative Pultrusions Inc., Bridge Brothers Inc., Conti Corporation, Lonestar Prestress Manufacturing Inc., Backwoods Bridges LLC, Nature Bridges, Big R Bridge, Modjeski and Masters Inc., Bridge Masters Inc., Landmark Products Pty Ltd.
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What Is Covered In The Pedestrian Bridge Global Market Report?
• Market Size Forecast: Examine the pedestrian bridge market size across key regions, countries, product categories, and applications.
• Segmentation Insights: Identify and classify subsegments within the pedestrian bridge market for a structured understanding.
• Key Players Overview: Analyze major players in the pedestrian bridge market, including their market value, share, and competitive positioning.
• Growth Trends Exploration: Assess individual growth patterns and future opportunities in the pedestrian bridge market.
• Segment Contributions: Evaluate how different segments drive overall growth in the pedestrian bridge market.
• Growth Factors: Highlight key drivers and opportunities influencing the expansion of the pedestrian bridge market.
• Industry Challenges: Identify potential risks and obstacles affecting the pedestrian bridge market.
• Competitive Landscape: Review strategic developments in the pedestrian bridge market, including expansions, agreements, and new product launches.
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