Rising Infrastructure Development To Drive Market Growth : Strengthening the Growth Trajectory of the Bridges Market

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What Is the Expected CAGR for the Bridges Market Through 2025?
In recent times, there has been a robust growth in the size of the bridges market. The market size, which is projected to rise from $121.38 billion in 2024 to $129.54 billion in 2025, exhibits a compound annual growth rate (CAGR) of 6.7%. Government expenditure, urban development, industrial progress, population increase, and trade enhancement are factors contributing to the growth observed in the historical period.

What's the Projected Size of the Global Bridges Market by 2029?
The size of the bridges market is predicted to experience substantial expansion in the coming years, climbing to $170.38 billion by 2029 with a Compound Annual Growth Rate (CAGR) of 7.1%. Factors contributing to this growth in the projected period include sustainable infrastructure, smart infrastructure, the capacity to adapt and withstand, the incorporation of renewable energy, and innovative materials. Major trends anticipated during this period consist of public-private collaborations, modular and pre-built construction, aesthetic design complemented with landscaping, incorporation of Artificial Intelligence and automation, and floating bridges.

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Top Growth Drivers in the Bridges Industry: What's Accelerating the Market?
The global advancement of infrastructure is projected to fuel the expansion of the bridge industry. Infrastructure encompasses the physical and organizational structures essential for business and societal operation, including constructs like buildings, roads, power systems, and bridges that contribute to the long-term sustainability of homes and companies. Bridges fall into the category of hard infrastructure, which comprises the physical systems utilized to manage increasing traffic. As per the Office for National Statistics in the UK, there was a substantial spike in the total construction new orders by 16.5% to £1,771 million ($2,224 million) in the second quarter of 2024 from the first quarter of the same year. This rise was predominantly propelled by the private commercial new work and infrastructure new work, which escalated by 15.1% to £503 million ($637 million) and 23.4% to £389 million ($490 million). Thus, the upswing in investments towards infrastructural development is anticipated to bolster the bridge market in the future.

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What Trends Will Shape the Bridges Market Through 2029 and Beyond?
Prominent businesses in the bridges market are utilizing strategic partnerships to magnify infrastructure growth and widen their market influence. Strategic partnerships are essentially a tactic where firms exploit each other's capabilities and assets for mutual benefit and victory. For example, in June 2024, InQuik Inc., an innovative bridge enterprise from the US, teamed up with Commercial Metals Company, a US-based construction solutions firm, to disseminate the InQuik bridge solution all over the United States. This synergy aims to make sturdy, top-notch bridges more reachable and economical for societies, enabling InQuik to proliferate quickly by capitalizing on CMC's wide scope and manufacturing prowess.

What Are the Main Segments in the Bridges Market?
The bridges market covered in this report is segmented -

1) By Type: Beam Bridge, Truss Bridge, Arch Bridge, Suspension Bridge, Cable-Stayed Bridge
2) By Material: Steel, Concrete, Composite Material
3) By Application: Road and Highway, Railway

Subsegments:
1) By Beam Bridge: Simple Beam Bridge, Continuous Beam Bridge, Cantilever Beam Bridge
2) By Truss Bridge: Pratt Truss Bridge, Warren Truss Bridge, Howe Truss Bridge
3) By Arch Bridge: Concrete Arch Bridge, Steel Arch Bridge, Masonry Arch Bridge
4) By Suspension Bridge: Main Cable Suspension Bridge, Hanger Suspension Bridge
5) By Cable-Stayed Bridge: Single Plane Cable-Stayed Bridge, Multiple Plane Cable-Stayed Bridge

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Which Top Companies are Driving Growth in the Bridges Market?
Major companies operating in the bridges market include ACS Actividades de Construcción y Servicios S.A., AECOM Technology Corporation, Balfour Beatty plc, China Communications Construction Company Limited, China Railway Group Limited, Fluor Corporation, Hochtief Aktiengesellschaft, Kiewit Corporation, Samsung C&T Corporation, VINCI S.A., Sanford Contractors Inc., Precon Smith Construction Inc., Brennan Industries Inc., Milbocker & Sons Inc., WSP Global Inc., Bouygues Construction, Bechtel Corporation, Skanska AB, Larsen & Toubro Limited, Obayashi Corporation, Salini Impregilo S.p.A., Ferrovial S.A., JFE Engineering Corporation, T.Y. Lin International Group, The Lane Construction Corporation, COWI A/S, KBR Inc., The Walsh Group Ltd., HNTB Corporation, Tutor Perini Corporation, Sundt Construction Inc., Graham Construction & Engineering LP, PCL Construction Enterprises Inc.

Which Regions Will Dominate the Bridges Market Through 2029?
The countries covered in the bridges market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain

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