-- Asia-Pacific generated the highest revenue in 2019, and is expected to grow at a highest CAGR during the forecast period, followed by LAMEA and North America. In addition, surge in road and highway construction industry in the developing countries such as India, China, India, and Brazil is expected to increase the demand for new bridges. However, volatile economic condition in Latin America may hamper the bridge construction market growth. The impact of this factor is anticipated to reduce in future due to intense competition and new bridge development by market players.
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Major types of bridge construction products included in the report are beam bridge, truss bridge, arch bridge, suspension bridge, cable-stayed bridge, and others. The others segment includes stressed ribbon, pile, and covered, cantilever bridge, and others. The beam bridge construction constituted the highest market share in 2019, owing to increased demand in the transport infrastructure industry.
Increase in number of vehicles on road leads to traffic, which increases the demand for bridges. According to the World Economic Forum, the number of cars are projected to reach the two billion mark globally by 2040. The global bridge construction market is expected to register strong growth due to increase in investments, government initiatives, and economic growth in developing and developed economies. The initiative Global Infrastructure Hub initiated by G20 works with private and public sectors globally to enhance the flow and quality of infrastructure projects.
Key Market Players
The key players profiled in the bridge construction market report include ACS Group, AECOM, Balfour Beatty, China Communications Construction Company Limited, China Railway Group Ltd, Fluor, HOCHTIEF AG, Kiewit Corporation, SAMSUNG C&T, and VINCI.
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Key Findings
The report provides an extensive analysis of the current and emerging bridge construction market trends and dynamics.
By type, the beam bridge segment dominated the market, in terms of revenue in 2019 and is projected to grow at a CAGR of 5.6% during the forecast period.
By material, the steel segment registered the highest growth in the bridge construction market in 2019.
By application, the road and highway segment dominated the market of bridge construction, in terms of revenue in 2019 and is projected to grow at a CAGR of 5.0% during the forecast period.
Asia-Pacific region accounted for the highest market share in 2019 and is expected to maintain its growth at the highest CAGR throughout the forecast period.
The report provides an extensive analysis of the bridge construction market trends and emerging opportunities of the market.
The in-depth bridge construction market analysis is conducted by constructing estimations for the key segments between 2020 and 2027.
The key players operating in the bridge construction industry are profiled in this report, and their strategies are analyzed thoroughly, which helps understand the competitive outlook of the bridge construction industry.
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