Market Trend Insights: The Impact of Recent Advancements on the Highways Market

The highways sector is poised for significant expansion in the coming years as infrastructure development and technological advancements drive demand. With an emphasis on smarter, more resilient road systems, this market is set to experience steady growth supported by various innovative initiatives and increased investments worldwide.

Forecast of the Highways Market Size Through 2030
The highways market is projected to reach a valuation of $555.88 billion by 2030, growing at a compound annual growth rate (CAGR) of 5.3%. This anticipated growth stems from heightened investment in smart mobility infrastructure and a growing emphasis on predictive maintenance solutions. Additionally, there is an increased focus on designing roads that can withstand climate challenges, the deployment of AI-powered monitoring systems, and large-scale highway modernization projects. Key trends shaping the market include a surge in highway expansion efforts, prioritization of long-term asset upkeep, the adoption of advanced construction materials, enhanced emergency repair capabilities, and the broader use of specialized maintenance equipment.

Download a free sample of the highways market report:
https://www.thebusinessresearchcompany.com/sample.aspx?id=9733&type=smp

Top Companies Leading the Highways Market
Several prominent firms dominate the highways industry landscape, including Granite Construction Inc., Fujian Expressway Development Co. Ltd., Hunan Communication & Water Conservancy Group Ltd., Construction Partners Inc., Tutor Perini Corporation, Stanley Road Construction, and Muscat Road Construction & Civil Works LLC. Other key players are PNC Infratech Limited, New Road Construction Management, Kokosing Construction Company, Sanders Brothers Construction Company Inc., Rogers Group Inc., R.S. Audley Inc., Kiewit Corporation, The Lane Construction Corporation, Skanska USA, Fluor Corporation, AECOM Inc., Jacobs Engineering Group Inc., Clark Construction Group LLC, PCL Construction Enterprises Inc., McCarthy Building Companies Inc., The Whiting-Turner Contracting Company, Swinerton Inc., Mortenson Constructions, DPR Construction, Gilbane Building Company, JE Dunn Construction, Hathaway Dinwiddie Construction Company, Sundt Construction Inc., Ryan Companies US Inc., The Boldt Company, and Gray Construction Services Inc.

Strategic Acquisition Enhancing Market Presence
In June 2024, France-based VINCI Construction acquired Newport Construction, a US heavy highway civil construction company, for an undisclosed sum. This acquisition is intended to strengthen VINCI's public works and road construction operations in North America, focusing particularly on the northeastern United States and Quebec. Newport Construction's expertise lies in serving federal, state, and local public sector clients, making this move a strategic effort to expand VINCI's footprint within the growing mobility infrastructure sector.

View the full highways market report:
https://www.thebusinessresearchcompany.com/report/highways-global-market-report

Emerging Innovations Driving the Highways Market
Leading companies in the highways space are increasingly adopting cutting-edge technologies like GIS-based highway monitoring software to improve real-time traffic management, enhance safety, and minimize environmental impact. This software utilizes Geographic Information Systems (GIS) to collect and analyze data related to highway operations, offering comprehensive insights for better infrastructure management.

A notable example occurred in September 2024 when India's National Highways Authority (NHAI) launched a GIS-based system to oversee 100 toll plazas on national highways. The software helps monitor traffic queues, waiting times, and vehicle speeds while issuing congestion alerts and lane management recommendations. By integrating traffic data with weather and local event updates, the system supports proactive traffic control. Initially deployed across select toll plazas based on user feedback, this initiative is planned for future expansion.

Breakdown of the Highways Market Segments
The highways market is broadly categorized into the following segments:

1) By Type:
- Road Construction and Maintenance
- Highway Construction and Maintenance

2) By Component:
- Hardware
- Software
- Service

3) By Product Technology:
- Smart Traffic Management Systems
- Smart Transport Management Systems
- Monitoring Systems
- Communication Systems

Further subcategories include:

- For Road Construction and Maintenance: New Road Construction, Road Rehabilitation and Resurfacing, Routine Maintenance, Emergency Repairs, Road Expansion Projects
- For Highway Construction and Maintenance: New Highway Construction, Highway Widening Projects, Bridge Construction and Maintenance, Interchange Development, Highway Rehabilitation and Repair

This segmentation provides a comprehensive understanding of the highways market's structure, catering to diverse infrastructure needs and technological advancements.

Reach out to us:
The Business Research Company: https://www.thebusinessresearchcompany.com/,
Americas +1 310-496-7795,
Europe +44 7882 955267,
Asia & Others +44 7882 955267 & +91 8897263534,
Email us at info@tbrc.info.

Follow 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

Learn More About The Business Research Company
With over 17500+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Armed with 1,500,000 datasets, the optimistic contribution of in-depth secondary research, and unique insights from industry leaders, you can get the information you need to stay ahead.Our flagship product, the Global Market Model (GMM), is a premier market intelligence platform delivering comprehensive and updated forecasts to support informed decision-making.

This release was published on openPR.