Press release
Global Highway Maintenance Market Expansion at 5.9% CAGR, Valued at $10.3 Billion by 2029
Highway Maintenance Market
What Are the Highway Maintenance Market Size Forecast for 2025?
In recent times, a substantial growth has been observed in the highway maintenance market size. It is predicted that there will be a rise from $7.76 billion in 2024 to $8.19 billion in 2025, following a compound annual growth rate (CAGR) of 5.6%. This impressive growth during the historical period is due to factors such as deterioration of existing infrastructure, escalating vehicle traffic, legislative mandates and safety criteria, depreciation of roads, financial support from infrastructure investment plans, and breakthroughs in road construction and upkeep technology.
What Is the Market Size Outlook for Highway Maintenance Until 2029?
The market size for highway maintenance is anticipated to experience significant growth in the coming years, with an estimation to reach $10.3 billion by 2029, exhibiting a compound annual growth rate (CAGR) of 5.9%. Factors contributing to this projected growth within the forecast period include increased road accident fatalities, growth in road networks and urban areas, amplified attention towards sustainable and environmentally friendly materials, advancements in the field of predictive maintenance technologies, escalating demand for high-tech infrastructure, augmented governmental support, and collaborations between public and private entities. Emerging trends during the forecast period are expected to involve the utilization of Artificial Intelligence and machine learning for predictive maintenance, incorporation of smart sensors and Internet of Things for instantaneous monitoring, focus on sustainability and recycled materials usage, as well as automated and drone-powered inspection systems, and the creation of superior road surface materials.
Explore The Complete Report Now:
https://www.thebusinessresearchcompany.com/report/highway-maintenance-global-market-report
What Are the Strategic Drivers Boosting Highway Maintenance Market Performance?
The escalation in roadway incident fatalities is predicted to stimulate the advancement of the highway maintenance market. The increasing fatalities due to vehicular accidents frequently result from elements such as growing traffic concentration, distraction behind the wheel, fast driving, and insufficient roadway safety precautions. Highway preservation contributes to curbing the ascent in roadway crashes by ensuring enhanced road conditions, tackling potential hazards like potholes and fissures, and boosting the overall roadway safety structure. For example, in October 2022, as per the Govt. Wales, the governing division of the Welsh government operating within the United Kingdom, the police forces in Wales reported 4,447(r) roadway casualties in 2022, marking a 2% escalation from 2021. Thus, the augmenting roadway incident fatalities are propelling the expansion of the highway maintenance market.
Get Free Sample Report Here:
https://www.thebusinessresearchcompany.com/sample.aspx?id=19089&type=smp
How Are End-Use Segments Shaping the Highway Maintenance Market Outlook?
The highway maintenance market covered in this report is segmented -
1) By Service Type: Road Surface Repair and Resurfacing, Signage And Markings, Drainage Maintenance, Other Services
2) By Contract Type: Outsourced Maintenance Contracts, In-House Maintenance Teams
3) By Highway Type: National Highway, State Highway, County Highway
Subsegments:
1) By Road Surface Repair And Resurfacing: Asphalt Patching And Resurfacing, Concrete Repair And Resurfacing, Surface Treatment
2)By Signage And Markings: Road Sign Installation And Maintenance, Pavement Marking Services, Reflective Signage Installation
3) By Drainage Maintenance: Drain Cleaning And Maintenance, Ditch And Culvert Maintenance, Stormwater Management Services
4) By Other Services: Vegetation Control, Snow And Ice Removal, Roadway Lighting Maintenance, Safety Inspections And Audits
What Are the Strategic Trends Transforming the Highway Maintenance Market Landscape?
Key industry players in the highway maintenance market are shifting their focus towards artificial intelligence (AI) and machine learning for anticipatory repairs, such as AI for identifying anomalies in road surfaces, in order to boost prompt detection of problem areas like potholes and thus, increase road safety. The AI application for anomaly detection on road surfaces leverages AI algorithms to spot and scrutinize anomalies like potholes and cracks in road surfaces using images from cameras. For example, in September 2023, Toshiba Corporation, a multinational electronics company based in Japan, together with Toshiba Digital Solutions, a commercial services company also based in Japan, launched a pioneering AI technique specifically designed for detecting anomalies on expressway surfaces, particularly potholes. This AI is built on weakly supervised learning, considerably simplifying the training process and allowing high-precision real-time detection with fewer false positives. This technology provides real-time detection and accurate localization of anomalies, leading to timely maintenance and improved road safety. The effectiveness of these approaches has been confirmed via cooperative experiments with Nexco Central, which assures enhanced road safety and maintenance efficiency by systematizing and optimizing the detection of crucial road surface problems.
Customize Your Insights And Get The Full Report Here:
https://www.thebusinessresearchcompany.com/customise?id=19089&type=smp
Who Are the Prominent Companies in the Highway Maintenance Market by ?
Major companies operating in the highway maintenance market are Vinci SA, Colas Group, Skanska AB, Jacobs Engineering Group Inc., AECOM, WSP Global Inc., Ferrovial SA, Balfour Beatty plc, Stantec Inc., Kier Group plc, Amey plc, Tarmac Limited, Costain Group plc, John Sisk & Son Limited, VolkerHighways Ltd., The Miller Group, Ringway Infrastructure Services Ltd., FM Conway Limited, BAM Nuttall, AE Yates, Dawson Road Maintenance, Markolines
Which Region Is Expected to See the Highest CAGR in the Highway Maintenance Market?
Asia-Pacific was the largest region in the highway maintenance market in 2024. Europe is expected to be the fastest-growing region in the forecast period. The regions covered in the highway maintenance market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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
Saumya Sahey
Europe: +44 7882 955267,
Asia: +44 7882 955267 & +91 8897263534,
Americas: +1 310-496-7795
Email: saumyas@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.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Global Highway Maintenance Market Expansion at 5.9% CAGR, Valued at $10.3 Billion by 2029 here
News-ID: 4256108 • Views: …
More Releases from The Business Research Company
Segment Evaluation and Major Growth Areas in the Personalized Testing and Supple …
The personalized testing and supplements sector is gaining remarkable traction, driven by advancements in technology and a rising consumer focus on tailored health solutions. As more individuals seek customized wellness options, this market is set to experience substantial expansion in the coming years. Here's an in-depth look at its current valuation, key players, significant trends, and the main market segments shaping its future.
Market Valuation and Expansion Forecast for Personalized Testing…
Top Players and Market Competition in the Skin Microbiome Industry
The skin microbiome market is emerging as a significant area of interest due to growing awareness about the critical role of skin health and innovative skincare technologies. As research advances and consumer preferences shift towards more natural and science-backed products, this market is set to undergo substantial growth. Let's explore the current market size, key players, driving factors, and upcoming trends shaping the skin microbiome industry.
Projected Expansion in the Skin…
Key Strategic Developments and Emerging Changes Shaping the Upadacitinib Market …
The upadacitinib market is poised for significant expansion over the coming years, driven by advances in treatment options and increasing awareness of autoimmune diseases. This report delves into the market's current size, key drivers, major players, and the emerging trends shaping its future trajectory.
Steady Growth Expected in Upadacitinib Market Size Through 2029
The market for upadacitinib is projected to reach $2.54 billion by 2029, growing at a robust compound annual…
Analysis of Key Market Segments Driving the Alzheimer's Disease Diagnostic Marke …
The Alzheimer's disease diagnostic sector is rapidly evolving as advancements in technology and healthcare infrastructure open new possibilities for early detection and personalized treatment. With rising awareness and innovative approaches, this market is poised for significant growth in the coming years. Let's explore the current market size, key drivers, leading companies, and emerging trends that are shaping this critical healthcare field.
Projected Market Size and Growth Trends in Alzheimer's Disease Diagnostics…
More Releases for Maintenance
Maintenance software Wartungsplaner optimizes your maintenance
Master maintenance management with digital maintenance planner
The maintenance planner from Hoppe Unternehmensberatung has been used in the manufacturing industry for many years to keep machines and equipment running smoothly.
The wartungsplaner https://www.Wartungsplaner.de/ optimally organizes interlinked processes, from inspection to predictive maintenance to servicing.
The recurring maintenance dates need to be controlled and monitored.
It is not always easy to keep track of inspection regulations and inspection deadlines. Regardless of whether you are…
Predictive Maintenance Market 2031: Proactive Maintenance Advances
Predictive Maintenance Market Market Scope:
Global Predictive Maintenance Market size was valued at USD 5.77 Billion in 2022 and is poised to grow from USD 7.57 Billion in 2023 to USD 66.46 Billion by 2031, at a CAGR of 31.2% over the forecast period (2024-2031).
Access the full 2024 Predictive Maintenance Market report for a comprehensive understanding @https://www.skyquestt.com/report/predictive-maintenance-market
The study of the global Predictive Maintenance Market is presented in the report, which is…
Building Maintenance Service Market Massive Growth Opportunity Ahead | Pacific M …
The latest study released on the Global Building Maintenance Service Market by HTF MI Research evaluates market size, trend, and forecast to 2030. The Building Maintenance Service market study covers significant research data and proofs to be a handy resource document for managers, analysts, industry experts and other key people to have ready-to-access and self-analysed study to help understand market trends, growth drivers, opportunities and upcoming challenges and about the…
Maintenance planner - Planning maintenance becomes easy with these tips
Have you had enough of chaotic maintenance schedules and inefficient processes?
Then the deluxe maintenance planner https://www.Wartungsplaner.de is just the thing for you! With this tool, you can organize and plan your maintenance work optimally. Find out why efficient organization is so important and the benefits of using the maintenance planner. You will also receive valuable tips for optimal use and effective planning of maintenance work.
Why Maintenance Planner?
The efficiency and…
DOCUFY Maintenance Manager simplifies maintenance
DOCUFY presents a new cornerstone of its software suite in the form of DOCUFY Maintenance Manager (DMM), allowing companies to integrate their information and sustainably boost their success through intelligent knowledge utilisation. Through digital integration of periodic maintenance tasks with machine data, the DOCUFY Maintenance Manager opens the door to forward-looking, resource-optimised maintenance. In practical terms, this means that service representatives can access a display of the precise machine variant…
Preventive Maintenance Software Future Prospects Hippo CMMS Software, MAPCON Tec …
Latest release from CMI with title Preventive Maintenance Software research Report 2019-2026 (by Product Type, End-User / Application and Regions / Countries) provides an in-depth assessment of the Preventive Maintenance Software including key market trends, upcoming technologies, industry drivers, challenges, regulatory policies, key players company profiles and techniques. Global Preventive Maintenance Software Market study with 100+ market data Tables, Pie Chat, Graphs & Figures is now released BY CMI.
Global Preventive…
