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Bridge Construction Market Trends

Report ID: GMI6435
Published Date: Aug 2023
Report Format: PDF

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Bridge Construction Market Trends

Innovations in construction materials, design methods, and engineering techniques allow for more efficient and durable bridge construction, attracting investment in new projects. For instance, self-healing concrete contains bacteria that can repair cracks that form in the concrete over time. This can help extend the lifespan of bridges and reduce the need for maintenance. Collaborations between public and private sectors for infrastructure development, including bridges, bring in additional funding sources and expertise, driving project initiation and thus fostering the market growth.

Authors: Preeti Wadhwani, Anish Pathak

Frequently Asked Questions (FAQ) :

The market size of bridge construction exceeded USD 763.4 billion in 2022 and is projected to expand at more than 6% CAGR from 2023 to 2032, driven by the rapidly aging infrastructure across several developed economies worldwide.

Beam bridge construction market was valued at over USD 250 billion in 2022 and is expected to reach USD 550 billion in 2032, owing to increasing demand for cost-effectiveness, simplicity in design, and efficiency in short to medium-span crossings.

North America bridge construction market size surpassed USD 190 billion in 2022 and is expected to grow at notable CAGR from 2023 to 2032, attributed to increasing urbanization and the higher demand for efficient transportation systems in the region.

Some of the prominent bridge construction industry players are China Communications Construction Company (CCCC), Vinci SA, Bouygues Construction, ACS Group, Bechtel Corporation, Skanska AB, Fluor Corporation, Obayashi Corporation, Kiewit Corporation, and Samsung.