Bridges Global Market Expected to Witness $164.69 Billion with Impressive Growth at a 6.8% CAGR By 2028 | Balfour Beatty PLC, Fluor Corporation, Kiewit Corporation, VINCI S.A., WSP Global Inc.

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.

Market Overview -
Bridges refer to the construction of a structure over a physical obstacle, such as water bodies, valleys, and roads, to provide crossing over that obstacle. The common materials used in the construction of bridges include structural steel, reinforced concrete, pre-stressed concrete, or post-tensioned concrete, depending on the structural behavior of the bridge.

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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.

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.

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Key Segments -
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

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

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