Evolving Market Trends In The Roads And Highways Industry: Advanced Traffic Management And Monitoring

The Roads And Highways Market Report by The Business Research Company delivers a detailed market assessment, covering size projections from 2025 to 2034. This report explores crucial market trends, major drivers and market segmentation by [key segment categories].

How Big Is the Roads And Highways Market Size Expected to Be by 2034?
The market size for roads and highways has witnessed consistent expansion over the past few years. The value of this market is projected to increase from $697.79 billion in 2024 to $727.44 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 4.2%. The growth during the historical time-frame can be tied back to factors such as urbanisation and population growth, advancing economies, evolving trends in tourism and travel, expansion in trade and commerce, and increasing population mobility.

A consistent increase in the size of the roads and highways market is expected in the upcoming years, with an estimated value of $879.21 billion in 2029 and an annual growth rate of 4.9%. The predicted growth during this period is largely due to smart transportation initiatives, sustainability and green infrastructures, solid infrastructure resilience, uptake of electric vehicles (EVs), and the adoption of autonomous vehicles. Among the major trends expected during the forecast period are public-private partnerships (PPPs), incorporation of smart infrastructure and technology, commitment to sustainable and eco-friendly methods, the utilization of advanced materials, and accentuation on safety initiatives.

Purchase the full report for exclusive industry analysis:
https://www.thebusinessresearchcompany.com/purchaseoptions.aspx?id=9776

What Are the Emerging Segments Within the Roads And Highways Market?
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

Get your free sample here:
https://www.thebusinessresearchcompany.com/sample.aspx?id=9776&type=smp

What Long-Term Drivers Are Shaping Roads And Highways Market Trends?
The growth of the roads and highways market is anticipated to be driven by the rising production of vehicles. Vehicle production typically involves large-scale manufacturing of identical models for public sale. Highways, being long and straight pathways that link various areas, are favoured by a majority of drivers for making travel easier. Furthermore, journeying via highways can lead to fuel efficiency due to shortened distances between cities. For example, data from the US-based non-profit organisation, the International Council on Clean Transportation, in January 2024, showed a steady increase in quarterly electric vehicle (EV) sales since the third quarter of 2021, with their portion of total light-duty vehicle sales going up from roughly 3% in the first quarter of 2021 to more than 10% by the third quarter of 2023. As such, it's clear that the escalating production of vehicles is instigating the progress of the roads and highways market.

Who Are the Top Competitors in Key Roads And Highways Market Segments?
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.

What Are the Major Trends Shaping the Roads And Highways Market?
The emergence of technological advancements is a significant development gaining traction in the roads and highways market. Many top companies within this market are leaning into these advanced technologies to solidify their market standing. For example, the Ministry of Road Transport and Highways (a division of India's Central Government) introduced an unmanned traffic management platform known as Skye UTM in February 2023. This system is designed to expedite highway construction, monitor fatal traffic incidents, and oversee real-time traffic conditions. Skye UTM operates as a cloud-based platform for managing air traffic, consolidating manned and unmanned flights. It stands as one of the most refined, home-grown platforms for aerial traffic management, offering situational consciousness, autonomous navigation, risk evaluation, and traffic administration to all drone and other airborne transportation operators across the airspace.

Get the full report for exclusive industry analysis:
https://www.thebusinessresearchcompany.com/report/roads-and-highways-global-market-report

Which Regions Are Becoming Hubs for Roads And Highways Market Innovation?
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.

Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Roads And Highways Market?
2. What is the CAGR expected in the Roads And Highways Market?
3. What Are the Key Innovations Transforming the Roads And Highways Industry?
4. Which Region Is Leading the Roads And Highways Market?

Why This Report Matters:

Competitive overview: This report analyzes the competitive landscape of the 3D imaging software market, evaluating key players on market share, revenue, and growth factors.

Informed Decisions: Understand key strategies related to products, segmentation, and industry trends.

Efficient Research: Quickly identify market growth, leading players, and major segments.

Connect with us on:
LinkedIn: https://in.linkedin.com/company/the-business-research-company,
Twitter: https://twitter.com/tbrc_info,
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ.

Contact Us
Europe: +44 207 1930 708,
Asia: +91 88972 63534,
Americas: +1 315 623 0293 or
Email: mailto:info@tbrc.info

Learn More About The Business Research Company
With over 15,000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Our flagship product, the Global Market Model delivers comprehensive and updated forecasts to support informed decision-making.

This release was published on openPR.