A Key Factor Shaping the Future of the Highway, Street, And Bridge Construction Market in 2025

What industry-specific factors are fueling the growth of the highway, street, and bridge construction market?
The global boom in infrastructure investments is significantly propelling the expansion of the highway, street, and bridge construction market. Infrastructure investments refer to funds focusing on specific securities within sectors that build a nation's infrastructure. This ensures investments are made in infrastructure and services necessary for living, working, and commuting. The construction and refurbishment of highways, streets, and bridges form a part of public or private infrastructure. For example, the Office for National Statistics, a government department in the UK, reported in July 2024 that total investment in the infrastructure market sector hit around $17.5 billion (£13.8 billion) in constant prices in 2023, marking a 3.9% boost from 2022. Concurrently, the projected net inventory of infrastructure in the market sector reached a sum of $431.1 billion (£350.2 billion) in constant prices, showcasing a slight increase of 0.3% from the prior year. So, escalating infrastructure investments globally are fueling the growth of the highway, street, and bridge construction market.

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What Is the projected market size and growth rate for the highway, street, and bridge construction market?
The market size of highway, street, and bridge construction has seen consistent growth over the past few years. The market which is valued at $896.06 billion in 2024 will expand to reach $938.05 billion the following year with a compound annual growth rate (CAGR) of 4.7%. Population growth and urbanization, the need to replace aging infrastructure, government financing and initiatives, improvements in the transportation network, and objectives related to economic development are all contributing factors to the growth during the historic period.

In the upcoming years, the market size for highway, street, and bridge construction is projected to experience significant growth. The market is anticipated to expand to $1151.74 billion by 2029, with a compound annual growth rate (CAGR) of 5.3%. The predicted growth during this period is a result of several factors such as smart city projects, emphasis on environmental sustainability, the rise of urban mobility solutions, focus on resilience and adaptation to climate change, and private sector involvement. Major emerging trends in this forecast period comprise of the incorporation of innovative materials and composites, collaboration via public-private partnerships (PPPs), prioritization of safety and intelligent construction equipment, the application of 3D printing technologies in construction, and the introduction of sustainable financing for transport infrastructure.

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What new trends are reshaping the highway, street, and bridge construction market and its opportunities?
Renowned businesses in the highway, street, and bridge construction market are concentrating on the advancement and incorporation of the newest technologies in their construction processes to fortify their market presence. For example, in September 2022, the multinational technology corporation from the US, HP, introduced the Metal Jet S100 Solution to bolster supply chain resilience. This sophisticated 3D printing solution facilitates the large-scale manufacture of top-quality metal components for sectors including automotive, industrial, and medical. The Metal Jet S100 delivers swifter production runs, enhanced flexibility, and cost-effectiveness, thereby accommodating customer-oriented designs and solutions that respond to changing market needs. Therefore, these technological improvements are likely to considerably influence the Highway, Street, and Bridge Construction market by making the production of infrastructure components more efficient and shortening construction timeframes.

What major market segments define the scope and growth of the highway, street, and bridge construction market?
The highway, street, and bridge construction market covered in this report is segmented -

1) By Type: Highway, Street, Bridge
2) By Construction Type: New Construction, Reconstruction And Repair
3) By Funding: Government Funding, Private Funding

Subsegments:
1) By Highway Construction: New Highway Construction, Highway Rehabilitation And Maintenance, Highway Expansion
2) By Street Construction: New Street Construction, Street Rehabilitation And Maintenance, Street Widening And Upgrades
3) By Bridge Construction: New Bridge Construction, Bridge Repair And Maintenance, Bridge Replacement And Retrofitting

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Which region dominates the highway, street, and bridge construction market?
Asia-Pacific was the largest region in the highway, street, and bridge construction market in 2024. The regions covered in the highway, street, and bridge construction market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Which key market leaders are driving the highway, street, and bridge construction industry growth?
Major companies operating in the highway, street, and bridge construction market include China State Construction Engineering Corporation Ltd., China Railway Group Ltd., China Communications Construction Company Limited, Vinci SA, Bouygues SA, Laing O'Rourke, ACS Group S.A., Grupo ACS, Samsung C&T Corporation, Hochtief AG, Larsen & Toubro Ltd., Strabag SE, Bachtel Corporation, Jacobs Engineering Group Inc., Skanska AB, Colas Group, Fluor Corporation, Turner Construction, Kiewit Corporation, AECOM, Balfour Beatty plc, Ferrovial SA, PCL Construction, Stantec Inc., Tutor Perini Corporation, Granite Construction Inc., Heijmans N.V., Flatiron Construction Corp., Lane Construction Corporation, Continental Engineering Corporation, Eurovia Ltd.

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What Is Covered In The Highway, Street, And Bridge Construction Global Market Report?

•Market Size Forecast: Examine the highway, street, and bridge construction market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the highway, street, and bridge construction market for a structured understanding.
•Key Players Overview: Analyze major players in the highway, street, and bridge construction market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the highway, street, and bridge construction market.
•Segment Contributions: Evaluate how different segments drive overall growth in the highway, street, and bridge construction market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the highway, street, and bridge construction market.
•Industry Challenges: Identify potential risks and obstacles affecting the highway, street, and bridge construction market.
•Competitive Landscape: Review strategic developments in the highway, street, and bridge construction market, including expansions, agreements, and new product launches.

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