Driving Roads And Highways Market Growth in 2025: The Role of Surging Vehicle Production Fuels Expansion Of Roads And Highways Market

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Roads And Highways Market Size Growth Forecast: What to Expect by 2025?
The market size for roads and highways has shown a consistent rise in past years. It is projected to expand from $682.01 billion in 2024 to $702.1 billion in 2025 with a Compound Annual Growth Rate (CAGR) of 2.9%. The increase during the historic period can be associated with factors such as urbanization and population growth, economic progression, trends in tourism and travel, expansion of trade and commerce, and population mobility.

How Will the Roads And Highways Market Size Evolve and Grow by 2029?
Forecasted progression for the roads and highways market predicts a steady enlargement in the upcoming years, with the value expected to elevate to $844.92 billion by 2029 growing at a compound annual growth rate (CAGR) of 4.7%. This anticipated growth during the prognosticated timeframe can be credited to the adoption of clever transport systems, green and sustainable structural design, resilience of infrastructure, wide acceptance of electric vehicles (EVs), and the inclusion of driverless vehicles. Key trends that are expected to dominate the said period consist of collaborations between public and private sectors (PPPs), integration of intelligent infrastructures and technologies, a shift towards sustainable and environment-friendly methods, usage of state-of-the-art materials, and emphasis on implementing safety precautions.

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What Drivers Are Propelling the Growth of Roads And Highways Market Forward?
The escalation in vehicle production is anticipated to boost the roads and highways market in the future. Vehicle production is a term used to describe the large-scale production of identical models that are then made available for purchase by the general public. Most drivers favor highway travel as these lengthened, straight passages seamlessly link various places, making commuting easier. Additionally, traveling via highways leads to fuel economy due to the reduction in distance between cities. For example, the International Council on Clean Transportation, a non-profit organization based in the US, reported in January 2024 that from the third quarter of 2021, quarterly electric vehicle (EV) sales have seen a continuous increase. The market share of total light-duty vehicle sales increased from nearly 3% in the initial quarter of 2021 to more than 10% by the third quarter of 2023. As a result, the surge in vehicle production is fueling the expansion of the roads and highways market.

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What Are the Key Trends Driving Roads And Highways Market Growth?
The emergence of technological innovations is a significant trend impacting the roads and highways market, gaining widespread attention. The primary entities in this sector are integrating cutting-edge technologies to fortify their market standing. To illustrate, in February 2023, the Ministry of Road Transport and Highways, a subsidiary of the Central Government of India, introduced Skye UTM. This is an unmanned traffic management system that enhances highway construction efficiency, regulates severe traffic accidents, and oversees real-time traffic monitoring. Skye UTM is an advanced, homegrown aerial traffic management platform that utilizes a cloud-based system to orchestrate air traffic by connecting manned and unmanned flights. Offering situational awareness, autonomous navigation, risk evaluation, and traffic management to drone operators and other aerial mobility entities across the airspace, Skye UTM has become a critical resource.

What Are the Key Segments in 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

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Who Are the Key Players Shaping the Roads And Highways Market's Competitive Landscape?
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 Geographic Markets Are Powering Growth 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.

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