LONDON, July 26, 2023 (GLOBE NEWSWIRE) -- The Business Research Company’s research on the highway, street, and bridge construction market highlights increased infrastructure investments around the world to contribute to the future growth of the highway, street, and bridge construction market. An infrastructure investment is a type of investment fund that focuses on specific assets in the industries that build the country's infrastructure. This involves investing in infrastructure and services used by the general public to live, work, and travel. Public or private infrastructure includes highway, street, and bridge development and renovation. According to a report released by USA Facts, a non-profit organization and website located in the United States that provides data and reports on the population, expenditure on infrastructure and transportation in 2022 will be 21% higher than it was in 2019 prior to the epidemic. As a result, growing infrastructure investments around the world are propelling the highway, street, and bridge construction market forward.
The global highway, street, and bridge construction market size is expected to grow from $855.1 billion in 2022 to $911.1 billion in 2023 at a compound annual growth rate (CAGR) of more than 6%. The global highway, street, and bridge construction market size is then expected to reach $1121.4 billion in 2027 at a CAGR of more than 5%.
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Major players in the highway, street, and bridge construction market are ACS Group S.A., AECOM, Balfour Beatty Plc, China Communications Construction Company Limited, China Railway Group Ltd., Fluor Corporation, Kiewit Corporation, Samsung C&T Corporation, Vinci SA, China Railway Construction Corporation Limited, Strabag SE, Hochtief AG, Bachtel Corporation, Continental Engineering Corporation, Heijmans N.V., Larsen & Toubro Ltd., Turner Construction, and China State Construction Engineering Corporation Ltd.
Technological developments are a prominent trend in the highway, street, and bridge construction markets. To increase their market position, major highway, street, and bridge building businesses are focusing on developing and integrating cutting-edge technology in highway, street, and bridge construction. For example, MX3D, a Netherlands-based software business that develops robotic 3D metal printing technology, built and debuted a 12-meter-long 3D-printed pedestrian street'smart bridge' in Amsterdam in July 2021. The bridge was constructed out of stainless steel rods with the help of six-axis robotic arms furnished with welding equipment and four commercially accessible industrial robots. The company equipped common industrial robots with tools made specifically for them and developed the software to control them. The novel technique allows the company to 3D-print metal structures that are strong, detailed, and graceful.
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Asia-Pacific was the largest region in the highway, street, and bridge construction market in 2022.
The global highway, street, and bridge construction market is segmented by type into highway, street, bridge; by construction type into new construction, reconstruction and repair; by funding into government funding, private funding.
Highway, Street, And Bridge Construction Global Market Report 2023 by The Business Research Company provides insights on the highway, street, and bridge construction market size, highway, street, and bridge construction market segments, highway, street, and bridge construction market trends, drivers and restraints, major competitors’ market positioning, revenues and market shares.
The Business Research Company has published over 5,000+ industry reports, covering more than 2,500+ market segments and 60 geographies. The reports draw on 1,500,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders.
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