Bridge Construction Market - Global Industry Analysis

Global Bridge Construction Market: Overview

A bridge is a super infrastructure that extends horizontally between two points. The primary function of a bridge is to bear loads. It offers a way over certain distances without causing any obstruction in the space under the bridge. The design of the bridge totally depends on the kind of bridge being built and the purpose of constructing it. It is a big project that needs a number of engineering skills and disciplines. These engineering disciplines include computer sciences, electrical, geology, mechanical, and civil. Therefore, all these areas must integrate together for the success of the project. The funding for the bridge project is granted by government sources.

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Global Bridge Construction Market: Growth Factors

One of the primary reasons causing a huge demand for building bridges is the surging traffic congestions on roads globally. According to the world economic forum, the number of car vehicles is likely to reach 2 billion by 2040. Therefore, it is expected that the global bridge construction market is likely to register robust growth in forthcoming years owing to the growing requirements for bridges in both developing and developed economies. The initiative global infrastructure hub is a project started by G20 which works with the public and private sector globally to improve the quality and flow of infrastructure projects. Simultaneously, rapid urbanization and ongoing technological advancements globally like geosynthetic reinforced soil integrated bridge systems are likely to expedite the growth of the global bridge construction market significantly in the forthcoming years. However, such advancements in technologies are also likely to focus on lowering the time and cost involved in the bridge construction activities. The suspension bridges are highly being built in seas owing to the unavailability of land and the requirement of bridges. The surge in the utilization of pre-stressed or precast concrete panels for lowering the construction time of bridges will further accentuate the growth. There is exponential growth in the investments by government authorities on developing infrastructures like bridges, roads, and other public places. However, as per the global infrastructure outlook, the population globally is likely to grow approximately by 2 billion which is likely to trigger the massive demand for infrastructure support. With the increase in urbanization, there is a huge need to expand the railway networks. Thereby, it is causing a high demand for building railway bridges. New innovations, high migration rates, and advancements in transportation models are some of the key factors likely to complement the growth of the global bridge construction market.

Global Bridge Construction Market: Segmentation

The global bridge construction market can be segmented into application, material, type, and region.

By application, the market can be segmented into roads & railways, highways, and others. The roads & railways segment dominates the global bridge construction market.

By material, the market can be segmented into composite, materials, concrete, and steel.

By type, the market can be segmented into the cable-stayed bridge, suspension bridge, arch bridge, truss bridge, beam bridge, and others. The beam bridge segment accounts for the largest share in the global bridge construction market.

Global Bridge Construction Market: Regional analysis

North America accounts for the largest share in the global bridge construction market as the region is highly developed and is technologically advanced. Furthermore, the growing investment by the governments to strengthen the public infrastructures is likely to accentuate the growth of the regional market. In addition, the growing emphasis on public-private partnership for revamping the transport infrastructure and development is expected to offer several lucrative growth opportunities in the regional market over the forecast period.

Asia Pacific is expected to be the fastest-growing region in the global bridge construction market due to the surging urbanization in the region. Also, the ongoing technological advancements in every field in the region are likely to further propel the growth of the regional market. The current traffic congestion in growing economies like China and India is posing a huge demand for bridge infrastructure. Moreover, the growing initiatives and expenditure from the government to strengthen the public infrastructure, specifically the roads and highways will also promulgate the growth of the regional market. China is investing heavily to achieve sustainable infrastructure development in partnership with European countries. However, the growing urbanization in the region is causing the requirement for the development of cities and public infrastructure, which in turn is expected to boost the growth of the regional market.

Global Bridge Construction Market: Competitive Players

Some of the significant players in the global bridge construction market are VINCI, SAMSUNG C&T, Kiewit Corporation, HOCHTIEF AG, Fluor, China Railway Group Ltd, China Communications Construction Company Limited, Balfour Beatty, AECOM, Wagman Heavy Civil & Larson Construction, Milbocker & Sons, Precon Smith Construction, Sanford Contractors, and ACS Group.

Global Bridge Construction Market: Regional Segment Analysis

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa

What Reports Provides

• Full in-depth analysis of the parent market
• Important changes in market dynamics
• Segmentation details of the market
• Former, on-going, and projected market analysis in terms of volume and value
• Assessment of niche industry developments
• Market share analysis
• Key strategies of major players
• Emerging segments and regional markets
• Testimonials to companies in order to fortify their foothold in the market.