Press release
Bridges Market Report 2024 Trends, Demand, New Trends, Segmentation And Forecast Till 2033
Bridges Market
The Business Research Company offers in-depth market insights through Bridges Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The bridges market size has grown strongly in recent years. It will grow from $118.56 billion in 2023 to $126.41 billion in 2024 at a compound annual growth rate (CAGR) of 6.6%. The growth in the historic period can be attributed to government spending, urbanization, industrialization, population growth, trade expansion.
The bridges market size is expected to see strongly grown in the next few years. It will grow to $164.69 billion in 2028 at a compound annual growth rate (CAGR) of 6.8%. The growth in the forecast period can be attributed to sustainable infrastructure, smart infrastructure, resilience and adaptability, renewable energy integration, advanced materials. Major trends in the forecast period include public-private partnerships, modular and prefabricated construction, aesthetic design and landscaping, integration of ai and automation, floating bridges.
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Market Segmentation:
The bridges market covered in this report is segmented -
1) By Type: Beam Bridge, Truss Bridge, Arch Bridge, Suspension Bridge, Cable-Stayed Bridge
2) By Material: Steel, Concrete, Composite Material
3) By Application: Road and Highway, Railway
Major Driver - Rising Infrastructure Development To Drive Market Growth
An increase in infrastructure developments across the globe is expected to propel the growth of the bridges market. Infrastructure refers to physical and organizational structures and facilities that are needed for the operations of enterprises and society. This infrastructure consists of constructions such as buildings, roads, power supplies, and bridges and helps to promote the long-term viability of households and businesses. bridges come under hard infrastructure which makes up the physical systems that help to manage growing traffic. For instance, in February 2021, according to Financial express-news, according to the study published by the Department for Promotion of Industry and Internal Trade (DPIIT), FDI investments in construction and development infrastructure were $17.22 billion in 2020, which is expected to increase to $1.4 trillion by end of 2023. Thus, the increase in investments in the development of infrastructure will support the growth of bridges going forward.
Competitive Landscape:
Major companies operating in the bridges market report are ACS Actividades de Construcción y Servicios S.A., AECOM Technology Corporation, Balfour Beatty plc, China Communications Construction Company Limited, China Railway Group Limited, Fluor Corporation, Hochtief Aktiengesellschaft, Kiewit Corporation, Samsung C&T Corporation, VINCI S.A., Sanford Contractors Inc., Precon Smith Construction Inc., Brennan Industries Inc., Milbocker & Sons Inc., WSP Global Inc., Bouygues Construction, Bechtel Corporation, Skanska AB, Larsen & Toubro Limited, Obayashi Corporation, Salini Impregilo S.p.A., Koninklijke BAM Groep nv (Royal BAM Group), Ferrovial S.A., JFE Engineering Corporation, T.Y. Lin International Group, The Lane Construction Corporation, COWI A/S, KBR Inc., The Walsh Group Ltd., HNTB Corporation, Tutor Perini Corporation, Sundt Construction Inc., Graham Construction & Engineering LP, PCL Construction Enterprises Inc.
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Top Trend - Road-Rail Cable-Stayed Driving Innovation In Bridges Market
Introducing new technologies in construction is shaping the bridges market. Major companies operating in the bridges market are focused on implementing new technologies in bridges, to build bridges better and faster and contribute to longer bridge life. New Technologies like road-rail cable-stayed are used in the construction of new bridges especially bridges constructed on rivers. Further, advanced technologies such as robots, virtual reality and augmented reality technologies are being used to construct bridges at reduced operational cost and reduce the lead time of the projects. For instance, the new under-construction arch steel bridge in Bangladesh is constructed with advanced technology in bridge maintenance and management to improve the structural performance of the bridges.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Bridges Market Characteristics
3. Bridges Market Trends And Strategies
4. Bridges Market - Macro Economic Scenario
5. Bridges Market Size And Growth
…..
27. Bridges Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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The Business Research Company (www.thebusinessresearchcompany.com) is a market intelligence firm that pioneers in company, market, and consumer research. Located globally, TBRC's consultants specialize in various industries including manufacturing, healthcare, financial services, chemicals, and technology. The firm has offices located in the UK, the US, and India, along with a network of proficient researchers in 28 countries.
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