Bridge Construction Market Size
| 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 |
| Market Concentration | Medium |
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*Disclaimer: Major Players sorted in no particular order |
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 Market Trends
The railway sector is anticipated to expand significantly over the anticipated period.
Type, material, application, and geography are used to categorize the bridge construction market. The international market is divided into several types, including beam, truss, arch, suspension, cable-stayed, and others. The market is divided into steel, concrete, and composite material segments. The bridge building market is divided into two segments based on application: road & highway and railway. The bridge-building market is examined by region, including LAMEA, North America, Europe, and Asia-Pacific. Due to rising urbanization and increased investments in infrastructure, the Asia-Pacific region is anticipated to hold a disproportionately large share of the worldwide bridge-building market throughout the study period.
The High-Speed Rail Line in California (United States) was, as of October 2022, one of the most valuable infrastructure projects either in their planning or execution phase worldwide. Most of the major infrastructure projects in development were railway lines, such as the ones in Norway and Sweden, the UK, the US, Asia and South-East Asia, and Japan. The country with the highest number of great infrastructure projects valued at over USD 25 million was India.
For Instance, the first vertical lift Rail Sea Bridge in India is actively being constructed by Railways. The first vertical lift railway bridge in India, also known as the Pamban Bridge, which connects the Indian mainland with Rameswaram Island, just featured in photos posted by the Ministry of Indian Railways along with construction updates. According to the most recent data, 81% of the bridge's construction is finished. After construction is finished, the bridge will assist the trains in carrying additional weight due to the increasing volume and pace of traffic on the route. The ships and streamers can move through this bridge without encountering any obstructions.
The first vertical lift railway sea bridge in India, the Pamban Bridge, which connects the Indian mainland with Rameswaram Island, finished 81% of its construction work, according to the Ministry of Railways. All 333 piles are built, 101 pile caps and substructures are finished, and 76 of 99 girders are launched.
Asia-Pacific Region dominates the market
Significant infrastructure development is now more crucial than ever in the Asia Pacific. Urbanization, population increase, and economic development all contribute to the urgent demand for new and upgraded infrastructure. Long-term infrastructure planning is further complicated by the disparity in infrastructure development between territories. Although the availability and caliber of infrastructure, as well as the capacity and ability to plan and finance infrastructure projects, vary significantly between developed and developing economies, they all include one issue in common: tight budgets. Some governments can finance their infrastructure exclusively.
If the region is to sustain economic growth, combat poverty, and reduce climate risk, the Asian Development Bank (ADB) estimated that roughly USD 1.7 trillion will need to be invested annually in infrastructure across Asia through 2030. It is more than twice the amount of investment that the ADB recommended in 2009. The difference between projected infrastructure requirements and delivered infrastructure is widening.
In China, the infrastructure projects in development or execution of over USD 25 million as of May 2022 were worth over USD 5 trillion. The United States and India were the following countries on the list, with around USD 2 trillion worth of infrastructure projects. In contrast, the country with the highest number of big infrastructure projects was India.
By 2026, renewable electricity capacity worldwide is forecasted to rise more than 60% from 2020 levels, equivalent to the current total global power capacity of fossil fuels and nuclear combined. About 40% of the world's population currently lives within 100 km of the coast, adding increased pressure to coastal ecosystems.
Bridge Construction Industry Overview
Robots, virtual reality, and augmented reality technologies are among the cutting-edge technologies being utilized to build bridges faster and with lower operational costs. For instance, to enhance the structural performance of the bridges, the new arch steel bridge that is currently being built in Bangladesh is using cutting-edge technologies in bridge maintenance and management. ACS Group, AECOM, Balfour Beatty, China Communications Construction Company Limited, and many more are some of the major players. To increase their market reach and compete in the markets, the major players adopted key strategies like product development, business expansion, agreements, partnerships, and acquisitions. These strategies are now being used to build bridges at lower operational costs and shorten project lead times.
Bridge Construction Market Leaders
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ACS Group
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AECOM
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Balfour Beatty
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China Communications Construction Company Limited
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China Railway Group Ltd
*Disclaimer: Major Players sorted in no particular order
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Bridge Construction Market News
- September 2023: The over bridges are being constructed under the RIDF scheme at three places across the state. To speed up the development of infrastructure facilities across the state, the PWD of Uttar Pradesh disbursed INR 124.57 crore (USD 1.50 million) in the form of funds. It is to speed up the construction of 3 railways over bridges and 7 long-distance bridging projects across the state. Under the RIDF Scheme, the construction of over bridges is taking place in the state at three places. The department of Uttar Pradesh disbursed INR 44.86 crore (USD 0.54 million).
- April 2023: Vice President Harris, along with senior administration officials, will be making a public announcement of approximately USD 300 million in bridge funding for nine rural and urban infrastructure projects across eight states and one D.C. area. All of these are supported through the Bridge Investment Program of the bipartisan Infrastructure Law. These bridges are capable of accommodating a combined daily traffic volume of over 230 thousand vehicles. These investments will help to reduce congestion and make long-needed improvements, thus saving taxpayers both time and money.
Bridge ConstructionMarket Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
2.1 Analysis Methodology
2.2 Research Phases
3. EXECUTIVE SUMMARY
4. MARKET INSIGHTS
4.1 Current Economic and Bridge Construction Market Scenario
4.2 Insights into Supply Chain/Value Chain Analysis
4.3 Impact of Government Regulations and Initiatives on the Industry
4.4 Review and Commentary on the Extent of Government Infrastructure Development Schemes
4.5 Impact of COVID-19 on the Market
5. MARKET DYNAMICS
5.1 Drivers
5.1.1 Focus on sustainability using recycled materials and minimizing environmental impact.
5.1.2 Adoption of corrosion-resistant materials like reinforced polymers and stainless steel.
5.2 Restraints
5.2.1 The design and engineering of the bridge are critical to its construction.
5.3 Opportunities
5.3.1 Technological Innovations
5.4 Porter's Five Forces Analysis
5.4.1 Bargaining Power of Suppliers
5.4.2 Bargaining Power of Consumers/Buyers
5.4.3 Threat of New Entrants
5.4.4 Threat of Substitute Products
5.4.5 Intensity of Competitive Rivalry
6. MARKET SEGMENTATION
6.1 By Type
6.1.1 Beam Bridge
6.1.2 Truss Bridge
6.1.3 Arch Bridge
6.1.4 Suspension Bridge
6.1.5 Cable-stayed Bridge
6.1.6 Others
6.2 By Material
6.2.1 Steel
6.2.2 Concrete
6.2.3 Composite Materials
6.3 By Application
6.3.1 Road and Highway
6.3.2 Railway
6.4 By Region
6.4.1 North America
6.4.1.1 United States
6.4.1.2 Canada
6.4.1.3 Rest of North America
6.4.2 Latin America
6.4.2.1 Mexico
6.4.2.2 Brazil
6.4.2.3 Rest of Latin America
6.4.3 Europe
6.4.3.1 United Kingdom
6.4.3.2 France
6.4.3.3 Rest of Europe
6.4.4 Asia- Pacific
6.4.4.1 China
6.4.4.2 India
6.4.4.3 Rest of Asia- Pacific
7. COMPETITIVE LANDSCAPE
7.1 Market Concentration Overview
7.2 Company Profiles
7.2.1 ACS Group
7.2.2 AECOM
7.2.3 Balfour Beatty
7.2.4 China Communications Construction Company Limited
7.2.5 China Railway Group Ltd
7.2.6 VINCI
7.2.7 Bechtel
7.2.8 Hochtief
7.2.9 Skanska
7.2.10 Bouygues Construction*
- *List Not Exhaustive
8. MARKET OPPORTUNITIES AND FUTURE TRENDS
9. MAJOR INFRASTRUCTURE DEVELOPMENT PROJECTS (PROJECT DESCRIPTION, VALUE, LOCATION, SECTOR, CONTRACTORS)
9.1 Existing Infrastructure
9.2 Ongoing Projects
9.3 Upcoming Projects
10. APPENDIX
11. DISCLAIMER
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 ConstructionMarket Research 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.
Who are the key players in Bridge Construction Market?
ACS Group, AECOM, Balfour Beatty, China Communications Construction Company Limited and China Railway Group Ltd are the major companies operating in the Bridge Construction Market.
Which is the fastest growing region in Bridge Construction Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Bridge Construction Market?
In 2024, the Asia Pacific accounts for the largest market share in Bridge Construction Market.
What years does this Bridge Construction Market cover, and what was the market size in 2023?
In 2023, the Bridge Construction Market size was estimated at USD 106.91 billion. The report covers the Bridge Construction Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Bridge Construction Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Bridge ConstructionIndustry Report
Statistics for the 2024 Bridge Construction market share, size and revenue growth rate, created by Mordor Intelligenceā¢ Industry Reports. Bridge Construction analysis includes a market forecast outlook to for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
