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Road Maintenance Market Trends

Report ID: GMI6474
Published Date: Aug 2023
Report Format: PDF

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Road Maintenance Market Trends

The road maintenance industry is expected to see increased technological integration for more efficient and data-driven maintenance practices. This includes promoting the use of sensors, drones, and other Internet of Things (IoT) devices to monitor road conditions in real-time, allowing authorities to identify issues and prioritize maintenance efforts effectively. In April 2023, the US Department of Transportation awarded a USD 100 million grant to the University of California, Berkeley, to develop new technologies for road maintenance. More efforts in this direction will help carve a healthy growth trajectory for the road maintenance sector.

Authors: Preeti Wadhwani, Anish Pathak

Frequently Asked Questions (FAQ) :

The market size of road maintenance was reached USD 14.1 billion in 2022 and will witness over 5% CAGR from 2023 to 2032, due to the rising government investments in infrastructure development projects.

The highway road type segment held 40% of the road maintenance market share in 2022 and may grow significantly through 2032, driven by the critical need for safety, efficiency, and sustainability.

Asia Pacific road maintenance market size exceeded USD 5.2 billion in 2022 and will observe commendable growth from 2023 to 2032, due to rapid urbanization, population expansion, and increasing economic activities.

Balfour Beatty, Bechtel Corporation, Colas Group, Downer Group, Fluor Corporation, Group ACS, Hochtief, Kiewit Corporation, and Vinci SA are some of the key road maintenance firms.