Surging Vehicle Production Fuels Expansion Of Roads And Highways Market Driver: Leading Transformation in the Roads And Highways Market in 2025

How Are the key drivers contributing to the expansion of the roads and highways market?
The ascension in vehicle production is predicted to stimulate the expansion of the roads and highways market. Vehicle production pertains to the large-scale production of identical models available for public consumption. Commonly, drivers opt for highway travel due to its straightforward roadways linking various locations, thus simplifying the journey. Additionally, highways enable fuel economy by reducing the travel distance between cities. For example, data from the International Council on Clean Transportation, a US-based nonprofit entity, demonstrated a continuous increase in electric vehicle (EV) sales since Q3 2021. The share of total light-duty vehicle sales escalated from approximately 3% in Q1 2021 to over 10% by Q3 2023. Hence, the surge in vehicle production effectively propels the development of the roads and highways market.

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What growth opportunities are expected to drive the roads and highways market's CAGR through 2034?
The market for roads and highways has seen a consistent growth over the past few years. The market, which is expected to increase from $697.79 billion in 2024 to $727.44 billion in 2025, predicts a compound annual growth rate (CAGR) of 4.2%. Factors such as urban and population growth, economic progress, evolving tourism and travel patterns, expansion of trade and commerce, and population mobility have all contributed to this historical growth.

It is anticipated that the market size for roads and highways will experience consistent expansion in the upcoming years. By 2029, it is projected to reach $879.21 billion, with a compound annual growth rate (CAGR) of 4.9%. This growth during the predicted period can be credited to the integration of smart transportation options, green and sustainable infrastructure, infrastructure toughness, the use of electric vehicles (EVs), and the implementation of autonomous vehicles. Noteworthy trends in the anticipated period encompass public-private collaborations (PPPs), smart infrastructure, the merging of technology, a focus on sustainable and environmentally friendly procedures, the usage of advanced materials, and a strong emphasis on safety measures.

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What are the emerging trends shaping the future of the roads and highways market?
The surge in technological advancements is a prominent trend being observed in the roads and highways sector. Big players in this market are utilizing modern technologies to solidify their market stance. For example, in February 2023, the Ministry of Road Transport and Highways, an entity of the Central Government of India, initiated the Skye UTM, a system for unmanned traffic management that hastens highway construction, observes serious traffic mishaps, and oversees the real-time traffic scenario. The cloud-based Skye UTM manages air traffic by connecting both manned and unmanned flights. Skye UTM, as the most advanced and indigenous platform for managing aerial traffic, provides drone and other air mobility operators across the airspace with situational awareness, autonomous navigation, risk evaluation, and traffic management.

Which growth-oriented segments of the roads and highways market are leading the industry's development?
The roads and highways market covered in this report is segmented -

1) By Product Types: Road construction and maintenance, Highway construction and maintenance
2) By Technology: Intelligent transport management system, Intelligent traffic management system, Communication system, Monitoring System, Other Technologies
3) By End Use: First-class roads, Substandard roads, Highways, Second-class roads, Third-class roads

Subsegments:
1) By Road Construction And Maintenance: Asphalt Paving, Concrete Paving, Road Marking And Signage, Surface treatment, Drainage And Erosion Control
2) By Highway Construction And Maintenance: Highway Paving, Bridge Construction And Maintenance, Guardrail Installation, Traffic Management Systems, Highway Signage And Lighting

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What regions are leading the charge in the roads and highways market?
North America was the largest region in the roads and highways market in 2024. Asia-Pacific is expected to be the fastest-growing region in the global roads and highways market report during the forecast period. The regions covered in the roads and highways market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

What companies are at the forefront of innovation in the roads and highways market?
Major companies operating in the roads and highways market include China Communications Construction Company Ltd., Vinci SA, Bouygues SA, ACS Group, CRH plc, Larsen & Toubro Ltd., STRABAG SE, Tata Projects, Bechtel Corporation, Jacobs Engineering Group Inc., Colas SA, Skanska AB, Fluor Corporation, Kiewit Corporation, AECOM, Acciona S.A., Balfour Beatty plc, Ferrovial S.A., Royal BAM Group, Porr AG, Granite Construction Inc., Lane Construction Corporation, Dilip Buildcon Limited, Walsh Construction LLC, Heidelberg Cement AG, IRB Infrastructure Developers Limited, Eurovia UK Limited, Hunan Road and Bridge Construction Group Co Ltd., Afcons Infrastructure Limited, Sichuan Railway Investment Group Co Ltd.

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What Is Covered In The Roads And Highways Global Market Report?

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

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