Highway Maintenance Market Report 2024

This Highway Maintenance market 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 historic and forecast market growth by geography.

The highway maintenance market size has grown strongly in recent years. It will grow from $7.32 billion in 2023 to $7.76 billion in 2024 at a compound annual growth rate (CAGR) of 5.9% The growth observed in the historical period can be linked to several factors, including aging infrastructure, a rise in vehicle traffic, government regulations and safety standards, road deterioration, funding from infrastructure investment initiatives, and advancements in road construction and maintenance technologies.

The highway maintenance market size is expected to see strong growth in the next few years. It will grow to $9.81 billion in 2028 at a compound annual growth rate (CAGR) of 6.1%. The anticipated growth during the forecast period is driven by increasing road accident fatalities, the expansion of road networks and urbanization, a heightened focus on sustainability and eco-friendly materials, improvements in predictive maintenance technologies, a rising demand for smart infrastructure, enhanced government funding, and collaborations between public and private sectors. Key trends expected in the forecast period include the use of AI and machine learning for predictive maintenance, the integration of smart sensors and the Internet of Things for real-time monitoring, an emphasis on sustainability and the utilization of recycled materials, automated and drone-based inspection methods, and the development of advanced materials for road surfaces.

The increasing number of road accident casualties is expected to drive the growth of the highway maintenance market. These casualties are often linked to factors such as heightened traffic volume, distracted driving, speeding, and insufficient road safety measures. Effective highway maintenance can help reduce road accident casualties by ensuring improved road conditions, addressing hazards such as potholes and cracks, and enhancing overall road safety infrastructure. For instance, according to a report from the Welsh government in October 2022, there were 4,447 reported road casualties in Wales in 2022, marking a 2% increase compared to 2021. Thus, the rise in road accident casualties is fueling the growth of the highway maintenance market.

Key companies in the highway maintenance sector are increasingly leveraging artificial intelligence (AI) and machine learning for predictive maintenance, such as AI for detecting road surface anomalies to enhance real-time identification of potholes and improve road safety. This AI technology analyzes camera images to detect irregularities in road surfaces, including potholes and cracks. For example, in September 2023, Toshiba Corporation, along with Toshiba Digital Solutions, unveiled an innovative AI technology aimed at detecting potholes on expressways. This AI employs weakly supervised learning to streamline the training process, enabling real-time detection with high accuracy and fewer false positives. The technology allows for immediate identification and precise localization of surface anomalies, facilitating timely maintenance and improving road safety. Validation through joint experiments with Nexco Central indicates that this approach could enhance both road safety and maintenance efficiency by automating the detection of critical road surface issues.

In June 2024, Construction Partners Inc., a U.S.-based vertically integrated civil infrastructure firm, acquired Hudson Paving Inc. for an undisclosed amount. This acquisition enables Construction Partners to expand its operations in North Carolina's Sandhills region, capitalizing on the growing demand for infrastructure projects. The addition of a hot-mix asphalt plant will enhance the company’s capacity to serve local customers. Hudson Paving Inc. is a U.S.-based company specializing in road construction and maintenance.

Major companies operating in the highway maintenance market are Vinci SA, Colas Group, Skanska AB, Jacobs Engineering Group Inc., AECOM, WSP Global Inc., Ferrovial SA, Balfour Beatty plc, Stantec Inc., Kier Group plc, Amey plc, Tarmac Limited, Costain Group plc, John Sisk & Son Limited, VolkerHighways Ltd, The Miller Group, Ringway Infrastructure Services Ltd, FM Conway Limited, BAM Nuttall, AE Yates, Dawson Road Maintenance, Markolines.

Asia-Pacific was the largest region in the highway maintenance market in 2023. Europe is expected to be the fastest-growing region in the forecast period. The regions covered in the highway maintenance market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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

Highway maintenance encompasses the routine and scheduled activities carried out to maintain and repair road infrastructure, ensuring it remains safe and functional. These tasks include surface repairs, drainage upkeep, updating signage, and winter services such as snow clearance.

The primary types of highway maintenance services include road surface repair and resurfacing, signage and markings, drainage maintenance, and additional services. Road surface repair and resurfacing focus on maintaining and restoring the road surface to guarantee smooth and safe driving conditions. This includes repairing potholes, cracks, and other surface damages, as well as applying new layers of asphalt or other materials to rejuvenate and improve the road surface. The contract types involve outsourced maintenance agreements and in-house maintenance teams for various highway categories, including national highways, state highways, and county highways.

The highway maintenance market research report is one of a series of new reports that provides highway maintenance market statistics, including highway maintenance industry global market size, regional shares, competitors with an highway maintenance market share, detailed highway maintenance market segments, market trends and opportunities, and any further data you may need to thrive in the highway maintenance industry. This highway maintenance 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 maintenance market consists of revenues earned by entities by providing services such as asset management, traffic monitoring, predictive maintenance, road condition monitoring, and incident detection. The market value includes the value of related goods sold by the service provider or included within the service offering. The highway maintenance market also includes sales of road surfacing materials, traffic signs, safety barriers, road marking equipment, drainage systems, de-icing agents, and maintenance vehicles. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

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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