Highway, Street, and Bridge Construction Market Report 2025

The highway, street, and bridge construction market size has grown steadily in recent years. It will grow from $896.06 billion in 2024 to $938.05 billion in 2025 at a compound annual growth rate (CAGR) of 4.7%. The growth in the historic period can be attributed to population growth and urbanization, aging infrastructure replacement, government funding and initiatives, transportation network enhancement, economic development goals.

The highway, street, and bridge construction market size is expected to see strong growth in the next few years. It will grow to $1.15 trillion in 2029 at a compound annual growth rate (CAGR) of 5.3%. The growth in the forecast period can be attributed to smart city initiatives, environmental sustainability focus, increased urban mobility solutions, resilience and climate adaptation, private sector participation. Major trends in the forecast period include incorporation of innovative materials and composites, collaboration with public-private partnerships (PPPs), focus on safety and intelligent construction equipment, adoption of 3D printing in construction, introduction of sustainable transportation infrastructure financing.

The growth of the highway, street, and bridge construction market is being significantly fueled by increased infrastructure investments worldwide. Infrastructure investment refers to funds dedicated to specific securities within sectors that develop a country's infrastructure, encompassing the investments made in the facilities and services used by the general public for living, working, and traveling. This includes the construction and renovation of highways, streets, and bridges, which fall under both public and private infrastructure. For example, in July 2024, the Office for National Statistics, a UK-based government department, reported that total investment in the infrastructure market sector reached approximately $17.5 billion (£13.8 billion) in constant prices in 2023, marking a 3.9% increase from 2022. Additionally, the estimated net stocks of infrastructure in the market sector were around $431.1 billion (£350.2 billion) in constant prices, reflecting a modest rise of 0.3% from the previous year. Thus, the surge in infrastructure investments globally is driving the growth of the highway, street, and bridge construction market.

The expanding tourism sector is anticipated to boost the growth of the highway, street, and bridge construction market in the future. The tourism industry includes all activities related to the temporary movement of people to destinations outside their usual residences for leisure, business, or other purposes. The construction of highways, streets, and bridges has a positive effect on the tourism sector by improving accessibility, safety, and connectivity, which in turn fosters economic development and offers tourists a more enjoyable and seamless travel experience. For example, in November 2022, the Office for National Statistics, a government department in the UK, reported that in June 2022, the UK experienced 3 million visits from overseas visitors, an increase from 2.8 million visits in May 2022. Thus, the growth of the tourism industry is driving the expansion of the highway, street, and bridge construction market.

Key players in the highway, street, and bridge construction market are concentrating on developing and integrating the latest technologies to strengthen their market position. For example, in September 2022, HP, a US-based multinational technology company, introduced the Metal Jet S100 Solution to enhance supply chain resilience. This cutting-edge 3D printing solution facilitates the mass production of high-quality metal parts for various industries, including automotive, industrial, and medical. The Metal Jet S100 provides faster production cycles, greater flexibility, and cost efficiency, enabling customer-centric designs and solutions that respond to changing market demands. Consequently, these technological advancements are expected to significantly impact the highway, street, and bridge construction market, potentially streamlining the production of infrastructure components and shortening construction timelines.

Major companies in the highway, street, and bridge construction market are developing new products, such as 3D-printed concrete bridges, to gain a competitive edge. A 3D-printed concrete bridge refers to a structure constructed using 3D printing technology and concrete materials. In December 2023, LafargeHolcim Ltd., a Switzerland-based building materials and solutions company, launched Phoenix. This bridge, constructed with 10 tons of recycled materials, demonstrates the company's commitment to low-carbon infrastructure applications and circular building. It serves as an example of integrated circular construction, computational design, and 3D concrete printing, supported only by compression and requiring no reinforcement.

In June 2022, Posillico Inc., a US-based multi-disciplined contractor, acquired Martins Construction for an undisclosed amount. This acquisition is part of Posillico's strategy to expand its operations in the Mid-Atlantic region and strengthen its national presence in light of increasing infrastructure spending. All Martins employees will remain with the company under its existing brand and leadership. Martins Construction is known for its expertise in construction and engineering.

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.

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. The countries covered in the highway, street, and bridge construction market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Highway, street, and bridge construction involve infrastructure projects crucial for a country's general economy, encompassing repairs, recovery, maintenance, and construction of infrastructure.

The main types of highway, street, and bridge construction encompass highways, streets, and bridges. A highway is a significant rural thoroughfare, referring to a route in either a rural or urban location where traffic entry and exit points are restricted and controlled. This segment is divided into new construction and reconstruction and repair, with funding originating from either the government or the private sector.

The highway, street, and bridge construction market research report is one of a series of new reports that provides highway, street, and bridge construction market statistics, including highway, street, and bridge construction industry global market size, regional shares, competitors with a highway, street, and bridge construction market share, detailed highway, street, and bridge construction market segments, market trends and opportunities, and any further data you may need to thrive in the highway, street, and bridge construction industry. This highway, street, and bridge construction market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The highway, street, and bridge construction market includes revenues earned by entities by constructing expressways, arch bridges, cantilever bridges, and more. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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