Highway, Street, And Bridge Construction Market Forecast 2025-2034: Growth Dynamics, Emerging Trends, and Strategic Opportunities
2025 Market Reports Update: Market Size Forecasts to 2034, Key Trends, Leading Players, and Top Regions – Get Ahead of the Competition Today!
What Are the Primary Drivers Supporting the Market Growth of theHighway, Street, And Bridge Construction Market?
The global uptick in infrastructure investments is playing a significant role in expanding the highway, street, and bridge construction market. Infrastructure investment typically involves a strategic allocation of funds towards specific portfolios within the sectors responsible for building a country’s infrastructure. These might include areas like infrastructure systems and services used by the general public for daily life, work, and commuting, with highway, street, and bridge construction being considered a part of either public or private infrastructure. Citing a particular instance from July 2024, the Office for National Statistics, a government department based in the UK, revealed that in 2023, the total investment in the infrastructure market sector touched approximately $17.5 billion (£13.8 billion) at constant prices. This represented a 3.9% increment from 2022. At the same time, the estimated net infrastructure stocks in the market sector reached around $431.1 billion (£350.2 billion) at constant prices, indicating a slight increase of 0.3% year on year. Given these trends, it is evident that the surge in global infrastructure investments is facilitating the growth of the highway, street, and bridge construction market.
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How Has the Highway, Street, And Bridge Construction Market Evolved in Recent Years, and What are the Growth Projections for the Forecast Period?
The market size for construction of highways, streets, and bridges has experienced consistent growth over the past few years. It is projected that the market will escalate from $896.06 billion in 2024 to $938.05 billion in 2025, representing a compound annual growth rate (CAGR) of 4.7%. The historical growth witnessed in this market can be credited to factors such as increasing population and urbanization, the need for replacing aging infrastructure, governmental support and initiatives, improvements in the transportation network, and economic development objectives.
Anticipations predict a significant rise in the highway, street, and bridge construction market in the upcoming years. The market is expected to scale to a whopping $1151.74 billion by 2029, exhibiting a compound annual growth rate (CAGR) of 5.3%. The projected growth is tied to factors such as the push for smart city programs, an emphasis on environmental sustainability, growth in urban mobility solutions, resilience and climate adaptation and involvement of the private sector. The forecast period also sees trends such as the use of advanced materials and composites, increased collaborations through public-private partnerships (PPPs), focus on safety and smart construction equipment, integration of 3D printing in the construction process, and the advent of sustainable transportation infrastructure financing.
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What Are the Latest Innovations Influencing theHighway, Street, And Bridge Construction Market?
Leading firms in the highway, street, and bridge construction market are concentrating their efforts on the advancement and incorporation of cutting-edge technologies in their construction projects to solidify their market standing. For example, in September 2022, the American multinational technology corporation, HP, introduced the Metal Jet S100 Solution with the intention to boost resilience in supply chains. This sophisticated 3D printing tool facilitates the mass manufacture of superior quality metal parts, specifically for sectors such as automotive, industrial, and medical. The Metal Jet S100 delivers accelerated production cycles, superior flexibility, and cost-effectiveness, which enables designs and solutions focused on customers, addressing the changing needs of the market. Consequently, developments in technology like these are set to profoundly affect the Highway, Street, and Bridge Construction market, potentially facilitating the construction process of infrastructure components and shortening the timelines of construction projects.
Who Are the Major Industry Players Accelerating Growth in theHighway, Street, And Bridge Construction Market?
Major companies operating in the highway, street, and bridge construction market 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, Turner Construction, 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, Eurovia Ltd.
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Which Primary Segments of the Highway, Street, And Bridge Construction Market Are Driving Growth and Industry Transformations?
The highway, street, and bridge construction market covered in this report is segmented –
1) By Type: Highway, Street, Bridge
2) By Construction Type: New Construction, Reconstruction And Repair
3) By Funding: Government Funding, Private Funding
Subsegments:
1) By Highway Construction: New Highway Construction, Highway Rehabilitation And Maintenance, Highway Expansion
2) By Street Construction: New Street Construction, Street Rehabilitation And Maintenance, Street Widening And Upgrades
3) By Bridge Construction: New Bridge Construction, Bridge Repair And Maintenance, Bridge Replacement And Retrofitting
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Which Regions Are Key Players in the Growth of the #What Are the Primary Drivers Supporting the Market Growth of theHighway, Street, And Bridge Construction Market?# Market?
Asia-Pacific was the largest region in the highway, street, and bridge construction market in 2024. The regions covered in the highway, street, and bridge construction market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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