This report describes and explains the bridges market and covers 2018-2023, termed the historic period, and 2023-2028, 2033F termed the forecast period. The report evaluates the market across each region and for the major economies within each region.
The global bridges market reached a value of nearly $115.5 billion in 2023, having grown at a compound annual growth rate (CAGR) of 6% since 2018. The market is expected to grow from $115.5 billion in 2023 to $167.1 billion in 2028 at a rate of 7.7%. The market is then expected to grow at a CAGR of 6.9% from 2028 and reach $233.3 billion in 2033.
Growth in the historic period resulted from the surge in traffic congestion, growth in tourism and recreational activities, increase in government initiatives and rise in construction activity. Factors that negatively affected growth in the historic period was skilled labor shortages.
Going forward, increasing infrastructure development, increasing international trade, strong economic growth in emerging markets and growing population and urbanization will drive the growth. Factor that could hinder the growth of the bridges market in the future include high construction costs.
The bridges market is segmented by type into beam bridge, truss bridge, arch bridge, suspension bridge, cable-stayed bridge and other bridges. The beam bridge market was the largest segment of the bridges market segmented by type, accounting for 33.4% or $38.6 billion of the total in 2023. Going forward, the cable-stayed bridge segment is expected to be the fastest growing segment in the bridges market segmented by type, at a CAGR of 9.5% during 2023-2028.
The bridges market is segmented by material into steel, concrete and composite material. The concrete market was the largest segment of the bridges market segmented by material, accounting for 43.9% or $50.7 billion of the total in 2023. Going forward, the steel segment is expected to be the fastest growing segment in the bridges market segmented by material, at a CAGR of 8.1% during 2023-2028.
The bridges market is segmented by application into road and highway and railway. The road and highway market was the largest segment of the bridges market segmented by application, accounting for 73.8% or $85.2 billion of the total in 2023. Going forward, the road and highway segment is expected to be the fastest growing segment in the bridges market segmented by application, at a CAGR of 7.9% during 2023-2028.
Asia Pacific was the largest region in the bridges market, accounting for 44.2% or $51.1 billion of the total in 2023. It was followed by North America, Western Europe and then the other regions. Going forward, the fastest-growing regions in the bridges market will be Africa and Middle East where growth will be at CAGRs of 23.2% and 20.4% respectively. These will be followed by South America and Asia Pacific where the markets are expected to grow at CAGRs of 12.9% and 7.9% respectively.
The global bridges market is fairly concentrated, with large players operating in the market. The top ten competitors in the market made up to 35.71% of the total market in 2022. China Communications Construction Company Limited was the largest competitor with a 11.32% share of the market, followed by China Railway Group Limited with 9.10%, VINCI S.A. with 4.28%, Hochtief Aktiengesellschaft with 2.30%, ACS Actividades de Construcción y Servicios S.A. with 1.97%, Bouygues Construction with 1.73%, Skanska AB with 1.69%, Bechtel Corporation with 1.24%, Samsung C&T Corporation with 1.22%, and Balfour Beatty PLC with 0.87%.
The top opportunities in the bridges market segmented by type will arise in the beam bridges segment, which will gain $19.9 billion of global annual sales by 2028. The top opportunities in the bridges market segmented by material will arise in the concrete segment, which will gain $22.7 billion of global annual sales by 2028. The top opportunities in the bridges market segmented by application will arise in the road and highway segment, which will gain $39.7 billion of global annual sales by 2028. The bridges market size will gain the most in India at $8.1 billion.
Market-trend-based strategies for the bridges market include focus on circular construction using computational design and 3D printing, using bridge inspection applications to streamline the process of inspecting and maintaining bridges by digitizing and automating various task and focus on collaborations and partnerships to strengthen their market position, enhance product offerings and expand their geographic reach.
Player-adopted strategies in the bridges market include focus on expanding business through investments and strategic partnerships and reinforce position in global market through various contracts and projects.
To take advantage of the opportunities, the analyst recommends the bridges companies to focus on circular construction and 3D printing techniques, focus on bridge inspection applications for enhanced efficiency, focus on cable-stayed bridge segment, focus on steel segment, focus on collaborations and partnerships for market expansion, expand in emerging markets, continue to focus on developed markets, provide competitively priced offerings, focus on value-based pricing strategies, participate in trade shows and events, continue to use B2B promotions, focus on targeting road and highway applications and target governments.
The global bridges market reached a value of nearly $115.5 billion in 2023, having grown at a compound annual growth rate (CAGR) of 6% since 2018. The market is expected to grow from $115.5 billion in 2023 to $167.1 billion in 2028 at a rate of 7.7%. The market is then expected to grow at a CAGR of 6.9% from 2028 and reach $233.3 billion in 2033.
Growth in the historic period resulted from the surge in traffic congestion, growth in tourism and recreational activities, increase in government initiatives and rise in construction activity. Factors that negatively affected growth in the historic period was skilled labor shortages.
Going forward, increasing infrastructure development, increasing international trade, strong economic growth in emerging markets and growing population and urbanization will drive the growth. Factor that could hinder the growth of the bridges market in the future include high construction costs.
The bridges market is segmented by type into beam bridge, truss bridge, arch bridge, suspension bridge, cable-stayed bridge and other bridges. The beam bridge market was the largest segment of the bridges market segmented by type, accounting for 33.4% or $38.6 billion of the total in 2023. Going forward, the cable-stayed bridge segment is expected to be the fastest growing segment in the bridges market segmented by type, at a CAGR of 9.5% during 2023-2028.
The bridges market is segmented by material into steel, concrete and composite material. The concrete market was the largest segment of the bridges market segmented by material, accounting for 43.9% or $50.7 billion of the total in 2023. Going forward, the steel segment is expected to be the fastest growing segment in the bridges market segmented by material, at a CAGR of 8.1% during 2023-2028.
The bridges market is segmented by application into road and highway and railway. The road and highway market was the largest segment of the bridges market segmented by application, accounting for 73.8% or $85.2 billion of the total in 2023. Going forward, the road and highway segment is expected to be the fastest growing segment in the bridges market segmented by application, at a CAGR of 7.9% during 2023-2028.
Asia Pacific was the largest region in the bridges market, accounting for 44.2% or $51.1 billion of the total in 2023. It was followed by North America, Western Europe and then the other regions. Going forward, the fastest-growing regions in the bridges market will be Africa and Middle East where growth will be at CAGRs of 23.2% and 20.4% respectively. These will be followed by South America and Asia Pacific where the markets are expected to grow at CAGRs of 12.9% and 7.9% respectively.
The global bridges market is fairly concentrated, with large players operating in the market. The top ten competitors in the market made up to 35.71% of the total market in 2022. China Communications Construction Company Limited was the largest competitor with a 11.32% share of the market, followed by China Railway Group Limited with 9.10%, VINCI S.A. with 4.28%, Hochtief Aktiengesellschaft with 2.30%, ACS Actividades de Construcción y Servicios S.A. with 1.97%, Bouygues Construction with 1.73%, Skanska AB with 1.69%, Bechtel Corporation with 1.24%, Samsung C&T Corporation with 1.22%, and Balfour Beatty PLC with 0.87%.
The top opportunities in the bridges market segmented by type will arise in the beam bridges segment, which will gain $19.9 billion of global annual sales by 2028. The top opportunities in the bridges market segmented by material will arise in the concrete segment, which will gain $22.7 billion of global annual sales by 2028. The top opportunities in the bridges market segmented by application will arise in the road and highway segment, which will gain $39.7 billion of global annual sales by 2028. The bridges market size will gain the most in India at $8.1 billion.
Market-trend-based strategies for the bridges market include focus on circular construction using computational design and 3D printing, using bridge inspection applications to streamline the process of inspecting and maintaining bridges by digitizing and automating various task and focus on collaborations and partnerships to strengthen their market position, enhance product offerings and expand their geographic reach.
Player-adopted strategies in the bridges market include focus on expanding business through investments and strategic partnerships and reinforce position in global market through various contracts and projects.
To take advantage of the opportunities, the analyst recommends the bridges companies to focus on circular construction and 3D printing techniques, focus on bridge inspection applications for enhanced efficiency, focus on cable-stayed bridge segment, focus on steel segment, focus on collaborations and partnerships for market expansion, expand in emerging markets, continue to focus on developed markets, provide competitively priced offerings, focus on value-based pricing strategies, participate in trade shows and events, continue to use B2B promotions, focus on targeting road and highway applications and target governments.
Table of Contents
1 Executive Summary
6 Market Characteristics
7 Major Market Trends
8 Bridges Market - Macro Economic Scenario
9 Global Market Size and Growth
10 Global Bridges Market Segmentation
11 Bridges Market, Regional and Country Analysis
12 Asia-Pacific Market
13 Western Europe Market
14 Eastern Europe Market
15 North America Market
16 South America Market
17 Middle East Market
18 Africa Market
19 Competitive Landscape and Company Profiles
22 Key Mergers and Acquisitions
23 Opportunities and Strategies
24 Bridges Market, Conclusions and Recommendations
25 Appendix
Executive Summary
Bridges Global Market Opportunities and Strategies to 2033 provides the strategists; marketers and senior management with the critical information they need to assess the global bridges market as it emerges from the COVID-19 shut down.Reasons to Purchase:
- Gain a truly global perspective with the most comprehensive report available on this market covering 15 geographies.
- Understand how the market is being affected by the coronavirus and how it is likely to emerge and grow as the impact of the virus abates.
- Create regional and country strategies on the basis of local data and analysis.
- Identify growth segments for investment.
- Outperform competitors using forecast data and the drivers and trends shaping the market.
- Understand customers based on the latest market research findings.
- Benchmark performance against key competitors.
- Utilize the relationships between key data sets for superior strategizing.
- Suitable for supporting your internal and external presentations with reliable high-quality data and analysis.
Description
Where is the largest and fastest-growing market for bridges? How does the market relate to the overall economy; demography and other similar markets? What forces will shape the market going forward? The bridges market global report answers all these questions and many more.The report covers market characteristics; size and growth; segmentation; regional and country breakdowns; competitive landscape; market shares; trends and strategies for this market. It traces the market’s history and forecasts market growth by geography. It places the market within the context of the wider bridges market; and compares it with other markets.
The report covers the following chapters:
- Introduction and Market Characteristics - Brief introduction to the segmentations covered in the market, definitions and explanations about the segment by type, by material and by application.
- Key Trends - Highlights the major trends shaping the global market. This section also highlights likely future developments in the market.
- Macro-Economic Scenario - The report provides an analysis of the impact of the COVID-19 pandemic, impact of the Russia-Ukraine war and impact of rising inflation on global and regional markets, providing strategic insights for businesses in the bridges market.
- Global Market Size and Growth - Global historic (2018-2023) and forecast (2023-2028, 2033F) market values and drivers and restraints that support and control the growth of the market in the historic and forecast periods.
- Regional and Country Analysis - Historic (2018-2023) and forecast (2023-2028, 2033F) market values and growth and market share comparison by region and country.
- Market Segmentation - Contains the market values (2018-2023) (2023-2028, 2033F) and analysis for each segment by type, by material and by application in the market. Historic (2018-2023) and forecast (2023-2028) and (2028-2033) market values and growth and market share comparison by region market.
- Regional Market Size and Growth - Regional market size (2023), historic (2018-2023) and forecast (2023-2028, 2033F) market values and growth and market share comparison of countries within the region. This report includes information on all the regions Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa and major countries within each region.
- Competitive Landscape - Details on the competitive landscape of the market, estimated market shares and company profiles of the leading players.
- Competitive Benchmarking - Briefs on the financials comparison between major players in the market.
- Competitive Dashboard - Briefs on competitive dashboard of major players.
- Key Mergers and Acquisitions - Information on recent mergers and acquisitions in the market covered in the report. This section gives key financial details of mergers and acquisitions, which have shaped the market in recent years.
- Market Opportunities and Strategies - Describes market opportunities and strategies based on findings of the research, with information on growth opportunities across countries, segments and Strategies to be followed in those markets.
- Conclusions and Recommendations - This section includes recommendations for bridges providers in terms of product/service offerings geographic expansion, marketing strategies and target groups.
- Appendix - This section includes details on the NAICS codes covered, abbreviations and currencies codes used in this report.
Markets Covered:
1) By Type: Beam Bridge; Truss Bridge; Arch Bridge; Suspension Bridge; Cable-Stayed Bridge; Other Bridges2) By Material: Steel; Concrete; Composite Material
3) By Application: Road; Highway; Railway
Key Companies Mentioned: China Communications Construction Company Limited; China Railway Group Limited; VINCI S.A.; Hochtief Aktiengesellschaft; ACS Actividades de Construcción y Servicios S.A.
Countries: China; Australia; India; Indonesia; Japan; South Korea; USA; Canada; Brazil; France; Germany; Italy; Spain; UK; Russia.
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time Series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets; GDP proportions; expenditure per capita; bridges indicators comparison.
Data Segmentation: Country and regional historic and forecast data; market share of competitors; market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Companies Mentioned
- China Communications Construction Company Limited
- China Railway Group Limited
- VINCI S.A.
- Hochtief Aktiengesellschaft
- ACS Actividades de Construcción y Servicios S.A.
- Bouygues Construction
- Skanska AB
- Bechtel Corporation
- Samsung C&T Corporation
- Balfour Beatty PLC
- China State Construction Engineering Corporation (CSCEC)
- China Railway Construction Corporation Limited (CRCC)
- China Road and Bridge Corporation (CRBC)
- CCCC Highway Consultants Co., Ltd.
- Larsen & Toubro Limited (L&T)
- Hindustan Construction Company (HCC)
- Afcons Infrastructure Limited
- Decmil Group Limited
- GAMMON India Limited
- Simplex Infrastructures Limited
- Obayashi Corporation
- Kajima Corporation
- Hyundai Engineering & Construction Co., Ltd
- John Holland Group
- CPB Contractors
- Lendlease Corporation
- Downer Group
- PT Wijaya Karya (Persero) Tbk
- PT Adhi Karya (Persero) Tbk
- PT Pembangunan Perumahan (Persero) Tbk
- PT Nusa Raya Cipta Tbk (NRCA)
- VINCI Construction
- Eiffage Construction
- Colas
- STRABAG SE
- HeidelbergCement AG
- Bilfinger SE
- ACS Group
- Ferrovial
- Sacyr
- ACCIONA
- Peab
- NCC
- AF Gruppen
- Implenia
- Sika AG
- Holcim Group
- Astaldi
- Tecnasfalti S.p.A
- Cimolai Technology
- Costain
- Kier Group
- Galliford Try
- Mostotrest
- Transstroy
- Stroytransgaz
- Compania Nationala de Administrare a Infrastructurii Rutiere (CNAIR)
- Tehnostrade
- Pizzarotti Romania
- Budimex
- Polimex-Mostostal
- Beton Stal
- PCL Construction
- EllisDon Corporation
- Aecon Group Incorporated
- Graham Construction
- Pomerleau Incorporated
- Hamilton Construction
- Kinsley Construction, Inc
- Parkia, Inc
- Longview Bridge and Road
- C. A. Rasmussen, INC
- Turner Corporation
- Bird Construction Incorporated
- Construction Partners Inc.
- KCI Construction
- Oderbrecht
- Camargo Corrêa
- Andrade Gutierrez
- Queiroz Galvão
- MRV Engenharia
- Gold and Silver Technical Services LLC
- Al Habtoor Group LLC
- Al-Naboodah Constructing
- Arabian Construction Company
- Rise Geo Control Systems Trading LLC
- Al Fikree Contracting L.L.C
- Darwish Engineering Emirates LLC
- Aleono Rebar Splicing Technology Co., Ltd
- Redcon Construction Company
- Estim Construction Co. Ltd, Eco-Beam
- Ecomo
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 299 |
| Published | May 2024 |
| Forecast Period | 2023 - 2033 |
| Estimated Market Value ( USD | $ 115.5 Billion |
| Forecasted Market Value ( USD | $ 233.3 Billion |
| Compound Annual Growth Rate | 7.3% |
| Regions Covered | Global |
| No. of Companies Mentioned | 92 |
