Increasing Vehicle Numbers Driving Infrastructure Development: The Driving Engine Behind Roads Market Evolution in 2025

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Roads Market Size Growth Forecast: What to Expect by 2025?_x000D_
The steady ascension in the size of the roads market in the recent past is evident. The projection is from $265.75 billion in 2024, it will rise to $271.53 billion in 2025, with a compound annual growth rate (CAGR) of 2.2%. Reasons for the growth in the past have been the rise in population and urbanization, the advancement of the economic sector, industrialization, trade, government investment in infrastructure and evolving mobility trends._x000D_
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How Will the Roads Market Size Evolve and Grow by 2029?_x000D_
In the upcoming years, the market size of the roads sector is predicted to experience consistent growth, reaching a projection of $317.63 billion in 2029 with a compound annual growth rate (CAGR) of 4.0%. Factors contributing to this growth during the forecast period include the integration of renewable energy, the development of urban mobility solutions, the implementation of smart city initiatives, resilience planning, and sustainable transportation. Key trends expected during the forecast period encompass the usage of advanced materials, the utilization of autonomous vehicles, the establishment of public-private collaborations, the integration of multimodal transportation, along with resilience and climate adaptation._x000D_
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What Drivers Are Propelling the Growth of Roads Market Forward?_x000D_
The increase in the number of vehicles is predicted to stimulate the expansion of the roads market in the future. Vehicles, typically equipped with wheels and an engine, serve as means of transporting people or goods, predominantly on land. They primarily utilize roads for transportation and constantly depend on roads to ferry individuals and products, thereby generating a demand for road constructions. For example, the US-based non-profit National Association of Insurance Commissioners stated in December 2022 that it anticipates 3.5 million autonomous vehicles on U.S. roads by 2025, escalating to 4.5 million by 2030. Consequently, the escalating quantity of vehicles is propelling the roads market's growth._x000D_
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Which Emerging Trends Are Transforming the Roads Market in 2025?_x000D_
The increasing adoption of advanced technology is a prominent trend being observed in the roads market. Major industry players are focusing on applying state-of-the-art technologies in road construction operations to enhance their market presence. For instance, Skye UTM, an unmanned traffic management system, was introduced by the Ministry of Road Transport and Highways, under the Central Government of India, in February 2023. This system was designed to expedite highway construction, mitigate traffic mishaps, and supervise real-time traffic monitoring. Serving as a cloud-based system for managing aerial traffic that connects manned and unmanned vehicles together, Skye UTM is developed to offer situational awareness, autonomous navigation, risk evaluation, and traffic management to all drone and various aerial mobility operators across the airspace. Consequently, Skye UTM is recognized as the most advanced and indigenous aerial traffic management platform present today._x000D_
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What Are the Key Segments in the Roads Market?_x000D_
The roads market covered in this report is segmented -_x000D_
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1) By Component: Hardware, Software, Service_x000D_
2) By Type: Highway, Street, Bridge_x000D_
3) By Construction Type: New Construction, Reconstruction, Repair_x000D_
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Subsegments:_x000D_
1) By Hardware: Road Signs, Traffic Signals, Barriers And Bollards, Road Marking Materials, Sensors And Cameras _x000D_
2) By Software: Traffic Management Systems, Navigation And Mapping Software, Road Design Software, Fleet Management Software, Incident Management Software _x000D_
3) By Service: Maintenance And Repair Services, Consulting Services, Installation Services, Data Analysis And Reporting Services, Traffic Monitoring Services _x000D_
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Who Are the Key Players Shaping the Roads Market's Competitive Landscape?_x000D_
Major companies operating in the roads market include Afcons Infrastructure Limited, Dilip Buildcon Limited, Tata Projects Limited, China Communications Construction Company Ltd., Granite Construction Inc., Hunan Road and Bridge Construction Group Co. Ltd., Kiewit Corporation, Lane Construction Corporation, Sichuan Railway Investment Group Co. Ltd., Larsen & Toubro Limited, IRB Infrastructure Developers Limited, H.G. Infra Engineering Limited, NCC Infrastructure Holdings Limited, Muscat Road Construction & Civil Works LLC, PNC Infratech Limited, Caterpillar Inc., Komatsu Ltd., Volvo Construction Equipment, Wirtgen GmbH, Dynapac Road Construction Equipment India Pvt. Ltd., The Lane Construction Corporation, JMC Projects Ltd., Gayatri Projects Limited, Hindustan Construction Company Limited, Nagarjuna Construction Company Limited, Bhartia Infra Projects Ltd., Sany Heavy Industry Co. Ltd., Palfinger AG, Tere*x Corporation, Liebherr-International AG, Deere & Company, Zoomlion Heavy Industry Science and Technology Co. Ltd., Fayat Group, Wacker Construction Equipment AG, Ammann Group Holding AG, CNH Industrial, Hitachi Sumitomo Heavy Industries Construction Cranes Co. Ltd. _x000D_
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What Geographic Markets Are Powering Growth in the Roads Market?_x000D_
Asia-Pacific was the largest region in the roads market in 2024. The regions covered in the roads market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa_x000D_
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