Emerging Growth Trends Driving Expansion in the Highway, Street, and Bridge Construction Market

The infrastructure sector focusing on highways, streets, and bridges is poised for significant development over the coming years. With growing demands for modernized transportation networks and innovative construction practices, this market is set to undergo substantial expansion. Let's explore the current market size, key players, important trends, and the main segments shaping the future of this industry.

Projected Market Growth and Size of the Highway, Street, and Bridge Construction Market
The highway, street, and bridge construction market is anticipated to experience robust growth, reaching a valuation of $1164.98 billion by 2030. This translates to a compound annual growth rate (CAGR) of 5.3% over the forecast period. Factors contributing to this expansion include an increasing focus on climate-resilient infrastructure, growing investments in smart mobility corridors, ongoing road and bridge modernization initiatives, adoption of cutting-edge construction technologies, and the development of sustainable road-building materials. Additionally, major trends driving the market involve large-scale national highway projects, enhanced efforts in bridge strengthening and retrofitting, rising demand for street rehabilitation and urban improvements, expansion of public-private partnership infrastructure ventures, and a stronger emphasis on disaster-resilient designs for roads and bridges.

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Leading Organizations Shaping the Highway, Street, and Bridge Construction Industry
Numerous influential companies play a key role in the highway, street, and bridge construction market. Some of the major players 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, 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, and Eurovia Ltd.

Strategic Acquisition Strengthening Market Presence
In April 2023, Greece-based construction engineering firm Intrakat S.A. completed the acquisition of Aktor S.A., a prominent engineering and construction company specializing in infrastructure projects such as roads, bridges, energy, and environmental developments. Though the financial details were not disclosed, this acquisition aims to bolster Intrakat's position within Greece's construction industry, enhance its ability to execute complex projects, and expand its portfolio of large-scale public and private infrastructure undertakings.

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Trends Highlighting Innovation and Sustainability in Highway, Street, and Bridge Construction
Market leaders are innovating by introducing advanced products like 3D-printed concrete bridges to differentiate themselves competitively. These bridges, constructed using 3D printing technology combined with concrete, represent a leap forward in construction techniques. For example, in December 2023, Swiss building materials company LafargeHolcim Ltd. unveiled Phoenix, a pioneering bridge built with 10 tons of recycled materials. Phoenix exemplifies low-carbon infrastructure development and circular building methods, integrating computational design and 3D concrete printing. This bridge is particularly notable as it relies solely on compression for support, requiring no reinforcement, marking a significant technological achievement.

Main Market Segments Defining the Highway, Street, and Bridge Construction Industry
The highway, street, and bridge construction market is segmented into several categories:
1) By Type: Highway, Street, and Bridge construction
2) By Construction Type: New Construction, Reconstruction and Repair
3) By Funding Source: Government Funding and Private Funding

Further subsegments provide a more detailed breakdown, such as:
- Highway Construction: New Highway Construction, Highway Rehabilitation and Maintenance, Highway Expansion
- Street Construction: New Street Construction, Street Rehabilitation and Maintenance, Street Widening and Upgrades
- Bridge Construction: New Bridge Construction, Bridge Repair and Maintenance, Bridge Replacement and Retrofitting

This comprehensive segmentation helps in understanding the diverse areas of growth and investment within the market.

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This release was published on openPR.