Highway, Street and Bridge Construction Market - Overview
Highway, Street and construction market includes organizations or establishments responsible for construction of highways, streets and bridges. The highway, street and bridge construction market includes repairs, rehabilitation, reconstruction and new work.
Economic growth in developing countries is the primary driver for the highway, street, and bridge construction market. Rising number of vehicle on roads is leading to traffic congestions thus boosting the demand of highway, street and bridge construction market. To improve connectivity to rural areas newer streets are being constructed. Increasing number of vehicle sales is also expected to drive the highway, street and bridge construction market. During 2017, 30% of the China’s investment was allocated to infrastructure. Infrastructure development has been given prime importance by China’s government To achieve sustainable growth China has been instrumental in developing construction projects not just in China but in foreign countries as well. China has invested US $ 9 Bn in construction projects with 16 central and European Countries as a part of “Belt and Road Initiative” in 2017. The project is estimated to witness high development of highways and bridges through a number of Asian and European countries thus boosting the highway, street and bridge construction market. Growing economic opportunities in Latin America has boosted the urbanization rate in the Latin America countries. Rising demand to develop public infrastructure and city planning is expected to boost the highway, street and construction market.
Downturn in economy discourages the investment in for infrastructure and development thus acting as a restraining factor for the highway, street, and bridge construction market.
Highway, Street and Bridge Construction Market - Segmentation
The global highway, street, and bridge construction market is classified by type, construction type and region. By type, the market is segmented under highway, street, and bridge. The bridge segment is anticipated to witness highest growth during the forecast period due to rising adoption of over bridges in cities to tackle traffic congestion and improve accessibilities to the city.
By construction type, the highway, street and Bridge Construction market is segmented under new construction, reconstruction and repair. The new construction segment is anticipated to witness highest growth owing to development of new projects in developing countries. The repair segment is also expected to hold a significant share due to the maintenance requirement of the bridges and highway. The maintenance of bridge includes deck replacement, and other structural work contributing to the growth of repair segment. The highways also need maintenance such as highway markers, patching pavements, repairing crash guards and thus contribute to the growth of the highway, street and bridge construction market.
By region, the global highway, street and bridge construction market is segmented according to North America, Europe, Latin America, Asia Pacific, and Middle East & Africa. Asia Pacific leads the global highway, street and bridge construction market. China is expected to lead the Asia Pacific region in terms of revenue. India is also expected to witness a high growth during the forecast period to due rapid economic growth. Asia Pacific region is followed by North America and Middle East with GCC sub-region holding highest share in MEA region.
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- North America (U.S. and Canada)
- Latin America (Mexico, Brazil, Peru, Chile, and others)
- Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
- Eastern Europe (Poland and Russia)
- Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
- Middle East and Africa (GCC, Southern Africa, and North Africa)
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