The global bridge construction market size was valued at USD 1035.28 billion in 2022. It is projected to reach USD 1534.55 billion by 2031, growing at a CAGR of 4.47% during the forecast period (2023-2031).
A bridge is a structure that is constructed to span a physical barrier by providing passage over it. There are a variety of bridge types, including beam bridges, truss bridges, arch bridges, suspension bridges, cable-stayed bridges, and others. Each end of the bridge is supported by a pier or abutment. It is the most basic structural form for bridge spans, constructed from concrete and steel or a combination of the two. Its architecture consists of beams constructed side by side with a deck at the top, supporting a deck in between. I-beams, H-beams, box girders, and trusses are the main beams. The growth of the market is driven by factors such as the expansion of the construction industry and the increase in the number of vehicles. In addition, it is anticipated that the urban population will increase by 2050, which will increase the demand for bridge construction for transportation infrastructure in the near future.
Increasing government initiatives to expand and upgrade transport infrastructures such as roads, highways, bridges, railway stations, and airports necessitate high-quality security and safety measures, thereby increasing the demand for new transport infrastructure. These initiatives include Latin America and Saudi Arabia's efforts to expand and modify their airport infrastructure, as well as the Indian government's ransom investments in highway and road development. In 2021, to ensure the swift movement of troops at borders with China and Pakistan, Border Roads Organisation (BRO) constructed 24 bridges at the height of over 19,000 feet in Ladakh, in four states and two union territories. It is anticipated that this will create lucrative growth opportunities for the market. The government is taking many initiatives related to transport infrastructure developments. Economic expansion is one of the primary drivers. Simultaneously, improving economies in developing nations such as India, Indonesia, and others have resulted in large-scale foreign investments, a factor that consequently increases the demand for barrier systems in transport infrastructure projects across multiple industries. For instance, in December 2019, India planned to invest US$1.39 trillion in infrastructure development projects over the next five years.
Since its recovery from the economic downturn, the automotive industry has expanded at a rapid rate. As a result of technological advancement, population growth, and rising purchasing power parity among consumers, the automotive industry has increased production to meet demand. Diverse types of bridges are constructed with the intention of achieving effective traffic control management and minimizing the likelihood of vehicle incursions. Countries such as China are the world's largest producers of automobiles, accounting for roughly 30 percent of total vehicle output. Likewise, Vehicle India is anticipated to expand at a CAGR of 15% over the next seven years. In addition, the automotive industry is anticipated to increase vehicle sales globally in the near future, which will increase demand for transportation infrastructure.
Some of the factors limiting the market's growth include environmental rules and regulations created by UNEP, a lack of funding, complex loading, complex structural geometry, and a lack of high-quality raw materials, such as sand. Animals and birds may leave the areas near the construction site due to dust and emissions from large equipment. Over an extended period, the bridge may increase the amount of traffic on the street, increasing emissions nearby. Generally speaking, decreased water exchange, habitat destruction, biological decline, increased suspended solids, and water quality pollution is among the environmental effects and risks during the bridge construction phase.
A joint venture between the government and businesses in the private sector for the development of public infrastructure systems is known as a public-private partnership. A private company manages the project and provides technical and operational expertise to government projects in this type of partnership. With its strong combination of public and private capital, the nation can increase the efficiency and sustainability of public services. Following an economic slowdown, developing nations have strengthened PPPs to boost infrastructure spending and maintain the growth momentum. For instance, the government of the UAE issued a $2.7 billion tender in February 2019 for infrastructure projects using its public-private partnership (PPP) model. Roads, bridges, and other residential and commercial buildings are included in the infrastructure projects. PPP models gained popularity in India during the time of the National Highways Development Project, with BOT (both toll and annuity model) projects making the biggest contributions. Innovative PPP models have increased private sector interest in roads and highways, but more is still needed. To even approach the ambitious goal established for Bharatmala Pariyojana, the NHAI must raise Rs 1.4 lakh crore through PPPs over the fiscal years 2018–2022. The government may think about removing barriers through reforms and promoting private sector participation in order to draw such significant investments.
The global bridge construction market is segmented by type, material, and application.
Based on type, the global market is bifurcated into beam bridges, truss bridges, suspension bridges, cable-stayed bridges, arch bridges, and others.
The beam bridge segment is the highest contributor to the market and is expected to grow at a CAGR of 5.45% during the forecast period. The simplest structural design for bridge spans is a beam bridge, which is made of steel, concrete, or a combination of the two. At each end, a pier or an abutment supports it. Beams built side by side with a deck on top make up its structure. I-beams, H-beams, box girders, and trusses make up the principal beams. In comparison to other types of bridges, the beam bridge's design and construction are more affordable. Additionally, due to their straightforward design, beam bridges require less time to construct. After constructing the columns and beams, the deck is attached to the beams. Additionally, rising government spending on transportation and infrastructure development stimulates market expansion.
The cable-stayed bridge segment is expected to witness a higher CAGR of 4.9%. One or more cable-supported pylons are part of the cable-stayed bridge. For longer spans, the cable-stayed bridge is ideal. Its varieties include cable-stayed bridges with side spars, bridges with spars, bridges with multiple spans, extra-dosed bridges, bridges with cable-stayed cradle systems, and others. The increase in road and bridge construction, which has been the main factor boosting market growth, is what propels the expansion of the transportation sector. The market is expanding as a result of increased attention being paid to the construction of roads and highways.
Based on material, the global market is bifurcated into steel, concrete, and composite material.
The concrete segment is the highest contributor to the market and is expected to grow at a CAGR of 4.27% during the forecast period. Bridge structures like sidewalks, barrier walls, pre-stressed concrete beams, decks, curbs, and parapets are all made of concrete. Resilience, structural redundancy, long-term durability, low maintenance, and other benefits are provided by concrete bridges. The corporate market is expanding quickly as a result of the improving economy, which boosts construction activity. In order to improve intercity connectivity, this further increases the need for new bridges. The market is also growing as a result of rising investments in transportation infrastructure and quickening economic development.
The steel segment is expected to witness a higher CAGR of 5.25%. Bridge components like expansion joints, reinforcing bars, girders, floor beams, bearings, anchor bolts, and beams are all made of steel. Steel bridges have several benefits, including affordability, lighter weight, sustainability, and high durability. Steel bridges are frequently used for railroad networks that enable connectivity between states and countries as well as other economic activities like trading. Governments from different nations invest more money in building railroads in an effort to increase economic productivity. Increased railroad building results in the development of infrastructure, which includes steel-made bridges. Developments in the railway infrastructure thus fuel market expansion.
Based on application, the global market is bifurcated into roads & highways and railways.
The roads & highway segment is the highest contributor to the market and is expected to grow at a CAGR of 5.0% during the forecast period. The highway and road bridges allow travel over barriers like rivers, valleys, and others. Highway bridge designs are influenced by the terrain, how the bridge will be used, and the materials used to build it. The market for bridge construction is expanding primarily due to an increase in demand for infrastructure and construction projects. Global demand for industrialization, residential and commercial infrastructure development and new bridge construction are all rising at the same time. New roads and bridges are anticipated to be required in emerging economies like China and India as a result of infrastructure development, which is anticipated to have a positive impact on market growth.
The railway segment is expected to witness a higher CAGR of 2.8%. Steel structures are typically used to construct railway bridges. Compared to highway bridges, they are built to support and tolerate heavier loads and traffic. Due to their higher ductility and resistance to fatigue, steel girders are frequently used in the construction of railroad bridges. The expansion of railway networks around the world is anticipated to be fueled by an increase in urbanization, which will further accelerate market growth. Additionally, the demand for railway bridges is rising as a result of transportation development, high immigration, new inventions, and high investment, primarily in the Asia-Pacific region.
The global bridge construction market is bifurcated into four regions: Nort America, Europe, Asia-Pacific, and LAMEA.
Asia Pacific region is the highest contributor to the market and is expected to grow at a CAGR of 5.15% during the forecast period. The market for bridge construction is expanding in Asia-Pacific, a developing economy, as a result of an increase in infrastructure development projects for roads and highways. India and China are the most populous nations in the Asia-Pacific region, which has a dense population overall. A growing need for new roads and highway construction is expected to support market expansion in developing economies like China and India. For instance, India announced plans to construct a four-lane bridge over the Brahmaputra River in Assam state in October 2018. Construction is expected to be finished by 2026. The region's transportation infrastructure and construction industry are driven by population growth, rapid urbanization, and robust economic expansion. Additionally, it is anticipated that China will spend more money on transportation infrastructure each year through 2030. Due to the nation's rapid urbanization, industrialization, and population growth, more roads and highways are also anticipated to be built. For instance, in order to improve trade relations between China and Russia, China built a bridge in October 2019 to cross the Heilongjiang River and connect its highway to the city of Blagoveshchensk in Russia.
Europe is expected to witness dynamic growth in the bridge construction market, with a CAGR of 3.4% during the forecast period. Since 2014, the European construction market has been recovering, with a slight uptick in the transport infrastructure sector. In the European Union, investments in the infrastructure sector totaled about 1.8% of the GDP. During the forecast period, it is anticipated that spending on building roads and highways in Eastern Europe will increase and improve the region's roadway networks. Countries like Bulgaria, Romania, and Slovakia are expected to experience significant growth in Eastern Europe as a result of rising infrastructure construction spending, which will favorably affect the building of new bridges. Furthermore, due to an increase in the building of stadiums, hotels, and retail structures, which accelerates the market growth in the region, Western Europe's overall transportation construction expenditure is predicted to increase at a significant rate. The expansion of Europe's road and highway infrastructure industry is the primary driver of market expansion. Additionally, a rise in the trend of redeveloping outdated bridges is anticipated to promote market expansion in the near future. For instance, the Morandi Bridge, which collapsed in 2018, was rebuilt by the Italian government in April 2020. In order to grow their businesses through strategic partnership agreements, many businesses are engaging in bridge construction activities.
North America is expected to witness a significant CAGR of 3.9% in the bridge construction market during the forecast period. Increased population and rapid urbanization are anticipated to increase the need for new roads and highways, which will, in turn, accelerate the need for new bridges and support regional market growth. The United States also ranks third among nations with the highest population, and it continues to grow. It is anticipated that this scenario will increase demand for transportation infrastructure. Additionally, government initiatives like the Competitive Highway Bridge Program (CHBP) are anticipated to support market expansion during the anticipated time frame. The U.S. Federal Highway Administration, for instance, approved US$225 million in August 2019 for transportation development projects in 18 states, including a range of bridge projects in rural areas. As more old bridges need to be replaced with new ones, the major regions of North America are predicted to see an increase in demand for new bridges. Additionally, the presence of numerous bridge construction firms in well-known North American regions is anticipated to fuel market expansion.
The LAMEA region is expected to witness a moderate CAGR of 4.7% in the global bridge construction market during the forecast period. The market expansion in LAMEA is driven by an increase in demand for transportation infrastructure as a result of the region's industrialization and urbanization trends. It is anticipated that the market will continue to grow due to the construction industry's rapid expansion and the development of the infrastructure. Additionally, the market is growing thanks to an improved business climate and rising construction spending, primarily from Latin American and African nations. One of the major markets in the LAMEA region, Brazil, is experiencing an increase in industrialization. This is because the Brazilian government has implemented a number of development programs. For instance, in December 2019, the Brazilian government awarded a contract for the construction of a bridge to the China Railway 20 Bureau Group Corporation (CR20) and the China Communications Construction Company Ltd (CCCC). The new bridge connects Salvador with Itaparica Island. Similarly to this, the government of Argentina has launched initiatives that permit private investments for the improvement of the nation's road networks and infrastructure development.
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