Market Size of Bridge Construction Industry
Study Period | 2019 - 2029 |
Market Size (2024) | USD 113.57 Billion |
Market Size (2029) | USD 153.60 Billion |
CAGR (2024 - 2029) | 6.23 % |
Fastest Growing Market | Asia Pacific |
Largest Market | Asia Pacific |
Major Players*Disclaimer: Major Players sorted in no particular order |
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Bridge Construction Market Analysis
The Bridge Construction Market size is estimated at USD 113.57 billion in 2024, and is expected to reach USD 153.60 billion by 2029, growing at a CAGR of 6.23% during the forecast period (2024-2029).
The key factors propelling market expansion are the rising volume of traffic on the roads and the expanding number of automobiles. In addition, the need for railway bridges is increasing as a result of the growth of rail networks and the increasing emphasis on public-private partnerships for the development of transportation infrastructure.
The bridge construction market comprises sales made by organizations, sole proprietors, and partnerships. Bridge construction refers to building a structure across a physical barrier, such as water bodies, valleys, or highways, to provide a crossing over that barrier. Depending on how the bridge will structurally behave, common materials used in bridge building include structural steel, reinforced concrete, pre-stressed concrete, and post-tensioned concrete.
Beam, truss, arch, suspension, and cable-stayed bridges are among the common forms of bridge construction. The term "beam bridge" refers to a horizontal structure that rests on two ends supports and acts as a beam to carry traffic. Beam bridge construction is sold by entities (organizations, partnerships, and sole proprietors).
The beam is strong enough to support the static and dynamic stresses placed on it. In the construction of bridges, materials like steel, concrete, and composites are used. Roads, highways, and railroads are among the infrastructure types for which bridges are built.
This infrastructure supports the long-term viability of homes and companies by including structures like buildings, roads, electricity sources, and bridges. Hard infrastructure, which consists of the physical systems that serve to handle expanding traffic, includes bridges.
For instance, according to a study released by the Department for Promotion of Industry and Internal Trade (DPIIT) in February 2021, FDI investments in infrastructure development and construction were USD 17.22 billion in 2020. They were projected to reach USD 1.4 trillion by the end of 2023. As a result, future expansion in bridge construction will be supported by increased investments in infrastructure development.
The bridge construction market is changing due to the introduction of new technology. Major corporations in the bridge construction market are concentrating on integrating innovative technologies to build better, faster, and longer lifespan bridges. New technologies like road-rail cable-stayed are utilized when building new bridges, particularly those over rivers.
Bridge Construction Industry Segmentation
Beam, truss, arch, suspension, and cable-stayed bridges are among the common forms of bridge construction. The term "beam bridge" refers to a horizontal structure that rests on two ends supports and acts as a beam to carry traffic. Beam bridge construction is sold by entities (organizations, partnerships, and sole proprietors).
The report provides a comprehensive background analysis of the bridge construction market, covering the current market trends, restraints, technological updates, and detailed information on various segments and the industry's competitive landscape. Additionally, the COVID-19 impact is incorporated and considered during the study.
The Bridges Construction Market is segmented by type (beam bridge, truss bridge, arch bridge, suspension bridge, cable-stayed bridge, and others), material (steel, concrete, and composite materials), application (road and highway, and railway), and region (North America, Asia- Pacific, Europe, Latin America, Middle East, and Africa). The report offers market size and forecasts for the Bridges Construction market in value (USD) for all the above segments.
By Type | |
Beam Bridge | |
Truss Bridge | |
Arch Bridge | |
Suspension Bridge | |
Cable-stayed Bridge | |
Others |
By Material | |
Steel | |
Concrete | |
Composite Materials |
By Application | |
Road and Highway | |
Railway |
By Region | |||||
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Bridge Construction Market Size Summary
The bridge construction market is poised for significant growth, driven by increasing traffic volumes and the expansion of rail networks. This sector encompasses the building of structures that span physical barriers such as water bodies and valleys, utilizing materials like structural steel and various forms of concrete. The market is categorized by bridge types, including beam, truss, arch, suspension, and cable-stayed bridges, and is further segmented by materials and applications, covering road, highway, and railway constructions. The Asia-Pacific region is expected to dominate the market share due to rapid urbanization and substantial infrastructure investments. The integration of innovative technologies, such as robots and augmented reality, is transforming the industry, enabling faster and more cost-effective construction processes.
The market's expansion is supported by increased investments in infrastructure development, with significant projects underway globally, particularly in India, China, and the United States. These projects are crucial for accommodating growing populations and economic development, especially in the Asia-Pacific region. The disparity in infrastructure development between developed and developing economies presents challenges, but also opportunities for growth. Major players in the market, including ACS Group, AECOM, and China Communications Construction Company Limited, are leveraging strategies like product development and partnerships to enhance their market presence. Government initiatives and funding, such as the Bridge Investment Program in the United States, are further bolstering the market by supporting rural and urban infrastructure projects.
Bridge Construction Market Size - Table of Contents
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1. MARKET INSIGHTS
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1.1 Current Economic and Bridge Construction Market Scenario
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1.2 Insights into Supply Chain/Value Chain Analysis
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1.3 Impact of Government Regulations and Initiatives on the Industry
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1.4 Review and Commentary on the Extent of Government Infrastructure Development Schemes
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1.5 Impact of COVID-19 on the Market
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2. MARKET SEGMENTATION
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2.1 By Type
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2.1.1 Beam Bridge
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2.1.2 Truss Bridge
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2.1.3 Arch Bridge
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2.1.4 Suspension Bridge
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2.1.5 Cable-stayed Bridge
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2.1.6 Others
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2.2 By Material
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2.2.1 Steel
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2.2.2 Concrete
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2.2.3 Composite Materials
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2.3 By Application
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2.3.1 Road and Highway
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2.3.2 Railway
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2.4 By Region
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2.4.1 North America
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2.4.1.1 United States
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2.4.1.2 Canada
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2.4.1.3 Rest of North America
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2.4.2 Latin America
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2.4.2.1 Mexico
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2.4.2.2 Brazil
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2.4.2.3 Rest of Latin America
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2.4.3 Europe
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2.4.3.1 United Kingdom
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2.4.3.2 France
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2.4.3.3 Rest of Europe
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2.4.4 Asia- Pacific
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2.4.4.1 China
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2.4.4.2 India
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2.4.4.3 Rest of Asia- Pacific
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Bridge Construction Market Size FAQs
How big is the Bridge Construction Market?
The Bridge Construction Market size is expected to reach USD 113.57 billion in 2024 and grow at a CAGR of 6.23% to reach USD 153.60 billion by 2029.
What is the current Bridge Construction Market size?
In 2024, the Bridge Construction Market size is expected to reach USD 113.57 billion.