Driving Highway, Street, And Bridge Construction Market Growth in 2025: The Role of Global Surge In Infrastructure Investments Fuels Booming Growth In Highway, Street, And Bridge Construction Market

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What Will the Highway, Street, And Bridge Construction Industry Market Size Be by 2025?
The market size of highway, street, and bridge construction has been experiencing stable growth in the past few years. The market is projected to expand from $896.06 billion in 2024 to $938.05 billion in 2025, showing a compound annual growth rate (CAGR) of 4.7%. This growth during the historic period is likely due to several factors, including population increase and urbanization, the necessity to replace aging infrastructure, government funding and policies, improvements in transportation networks, and objectives for economic development.

What's the Long-Term Growth Forecast for the Highway, Street, And Bridge Construction Market Size Through 2029?
The market for construction of highways, streets, and bridges is projected to witness robust growth in the forthcoming years. The market value is predicted to rise to $1151.74 billion by 2029, driven by a compound annual growth rate (CAGR) of 5.3%. This growth during the forecast period is linked to factors such as smart city initiatives, a focus on environmental sustainability, the expansion of urban mobility solutions, resilience, and adaptation to climate changes, as well as private sector participation. The forecast period is also likely to witness trends like the use of innovative materials and composites, cooperation through public-private partnerships (PPPs), emphasis on safety, deployment of intelligent construction equipment, application of 3D printing in the construction sector, and the development of sustainable transportation infrastructure financing.

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What Are the Key Growth Drivers Fueling the Highway, Street, And Bridge Construction Market Expansion?
The expansion of the highway, street, and bridge construction market is largely attributed to heightened infrastructure investments worldwide. Infrastructure investment denotes a specific fund focusing on unique securities within sectors instrumental to a country's infrastructure. It covers investments in these fundamental facilities and services which are essential for daily life, work, and transportation of the general public. Both construction and renovation of highways, streets, and bridges are encompassed within the purview of public or private infrastructure. For example, the UK's Office for National Statistics reported in July 2024 that, in 2023, investments in the infrastructure market sector climbed to nearly $17.5 billion or £13.8 billion in constant prices, marking a 3.9% growth compared to 2022. Concurrently, the estimated net infrastructure stocks in the market sector achieved approximately $431.1 billion or £350.2 billion in constant prices, registering a slight 0.3% increase from the previous year. Hence, the surge in global infrastructure investments is fueling market growth in highway, street, and bridge construction.

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What Are the Key Trends Driving Highway, Street, And Bridge Construction Market Growth?
Predominant businesses in the highway, street, and bridge construction market are aiming to consolidate their market position by embracing and implementing cutting-edge technologies in their construction processes. For example, in September 2022, HP, a multinational technology firm based in the U.S., introduced the Metal Jet S100 Solution to boost supply chain robustness. This pioneering 3D printing solution permits large-scale manufacturing of superior quality metal parts for sectors such as automotive, industrial, and medical. The Metal Jet S100 provides quicker production cycles, magnified flexibility, and cost-effectiveness, facilitating client-specific designs and solutions in line with shifting market needs. Hence, these technological innovations seem well-positioned to considerably influence the Highway, Street, and Bridge Construction market, potentially improving the fabrication of infrastructure components and decreasing construction durations.

How Is the Highway, Street, And Bridge Construction Market Segmented?
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 Companies Are Leading the Charge in Highway, Street, And Bridge Construction Market Innovation?
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.

Which Regions Are Leading the Global Highway, Street, And Bridge Construction Market in Revenue?
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.

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