New York, June 21, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Bridges And Tunnels Global Market Report 2023" - https://www.reportlinker.com/p06464048/?utm_source=GNW
A., Construcciones y Auxiliary de Ferrocarriles (CAF), Aecon Group Inc., AECOM Technology Corporation, Kiewit Corporation, Tutor Perini Corporation, Granite Construction Inc., Construction Partners Inc., and Larsen & Toubro Construction.
The global bridges and tunnels market is expected to grow from $135.99 billion in 2022 to $147.21 billion in 2023 at a compound annual growth rate (CAGR) of 8.2%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The bridges and tunnels market is expected to reach $191.41 billion in 2027 at a CAGR of 6.8%.
The bridges and tunnels market consists of revenues earned by entities by providing bridges and tunnels services such as arch bridges, beam bridges, cantilever bridges, bored tunnels, and immersed tube tunnel services.The market value includes the value of related goods sold by the service provider or included within the service offering.
The bridges and tunnels market also includes sales of deck slab, girder, truss and others which are used in providing bridges and tunnels services.Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Bridges and tunnels refer to long-term, continuous transportation infrastructure constructions. A bridge is a structure that spans a river, road, walk, railway, etc, and a tunnel is an artificial underground passage, especially one built through a hill or under a building, road, or river.
The main types of bridges and tunnels are tunnel and bridge, which are made of several materials, including steel, concrete, and composite material.A tunnel is a lengthy underground passageway, typically cut through a hill or beneath the sea.
These are used for several applications, such as commercial and government.
The increasing number of automobiles on roads is expected to propel the growth of the bridges and tunnels market going forward.An automobile is a four-wheeled vehicle powered by an internal combustion engine.
It is commonly known as a car and is among the most popular modes of transportation.Automobiles are typically transported via bridges and tunnels.
Automobiles drive across rivers and through tunnels and bridges to avoid traffic and cross valleys; it makes the journey easy and safe. For instance, in March 2022, according to a report published by the European Automobile Manufacturers’ Association (ACEA), the main lobbying and standards group for the automobile industry in the European Union, sales of passenger cars in the US increased by 5.5% from 2020 to 11.9 million units in 2021. Over 6.3 million passenger cars were produced in US auto facilities in 2021, an increase of 3.1% from 2020. Chinese automakers produced 20.7 million vehicles in 2021, an increase of 7.1%. In 2021, the total number of cars produced worldwide climbed by 2.7% to 63.2 million. Therefore, the increasing number of automobiles on roads is driving the growth of the bridges and tunnels market.
Technological development is a key trend gaining popularity in the bridges and tunnels market.Major companies operating in the bridges and tunnels market are focused on developing innovative solutions to strengthen their position in the market.
For instance, in January 2023, Acciona, S.A., a Spain-based construction and infrastructure company, launched its new tunnel technology solution called Digitunnel, a real-time technology to provide better control and ensure progress in the tunnel’s construction projects. This technology is a solution that gathers and combines copious volumes of real-time data created at the project site, turning it into information that is useful and accessible to all parties. This invention offers real-time updates on the project’s status, improves worker safety, and significantly lessens human control and documentation need. Additionally, this technology will quickly identify any potentially harmful gases in the tunnel, improving worker safety.
In April 2022, Egis Group, a France-based construction engineering company, acquired Waagner Biro Bridge Services Group., for an undisclosed amount. With this acquisition, Egis Group wants to accomplish its strategic goal of supporting local communities’ requirements while growing its operations and maintenance capabilities globally. Waagner Biro Bridge Services Group is a United Arab Emirates-based bridge and tunnels construction company.
The regions covered in bridges and tunnels report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The countries covered in the bridges and tunnels market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The bridges and tunnels market research report is one of a series of new reports that provides bridges and tunnels market statistics, including bridges and tunnels industry global market size, regional shares, competitors with a bridges and tunnels market share, detailed bridges and tunnels market segments, market trends and opportunities, and any further data you may need to thrive in the bridges and tunnels industry. This bridges and tunnels market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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