New York, June 28, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Highway, Street, And Bridge Construction Global Market Report 2023" - https://www.reportlinker.com/p06463958/?utm_source=GNW
V., Larsen & Toubro Ltd., Turner Construction, and China State Construction Engineering Corporation Ltd.
The global highway, street, and bridge construction market is expected to grow from $855.12 billion in 2022 to $911.14 billion in 2023 at a compound annual growth rate (CAGR) of 6.6%. 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 highway, street, and bridge construction market is expected to reach $1121.41 billion in 2027 at a CAGR of 5.3%.
The highway, street, and bridge construction market includes revenues earned by entities by constructing expressways, arch bridges, cantilever bridges, and more.The market value includes the value of related goods sold by the service provider or included within the service offering.
Only goods and services traded between entities or sold to end consumers are included.
Highway, street, and bridge construction are infrastructure projects that involve construction, development, and maintenance. These construction are crucial to towards the country’s general economy as it involve repairs, recovery, maintenance, and construction of infrastructure.
Asia-Pacific was the largest region in the highway, street, and bridge construction market in 2022. The regions covered in highway, street, and bridge construction report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of highway, street, and bridge construction are highway, street, and bridge.Highway is a significant rural thoroughfare, and more precisely, it has been used to refer to a route, in either a rural or urban location, where traffic entry and exit points are restricted and controlled.
It is segmented into new construction, and re-construction and repair, which are funded by either the government or the private sector.
Increased infrastructure investments across the globe are significantly contributing to the growth of the highway, street, and bridge construction market going forward.An infrastructure investment refers to an investment fund that concentrates on specific securities within the sectors that create the country’s infrastructure.
This includes making investments in the infrastructure and services that the general population uses to live, work, and travel.Highway, street, and bridge construction and renovation all fall under public or private infrastructure.
For instance, according to a report shared by USA Facts, a US-based non-profit organization and website that provides data and reports on the United States population, spending on infrastructure and transportation in 2022 will be 21% greater than it was in 2019 before the epidemic.Highway transportation accounted for about 39% of federal investment in infrastructure and transportation in 2022, while rail and mass transit accounted for 28%.
The remainder went to water (9%), and 22% went to air travel. Therefore, increased infrastructure investments across the globe are driving the growth of the highway, street, and bridge construction market.
Technological advancements are a key trend gaining popularity in the highway, street, and bridge construction market.Major companies operating in the highway, street, and bridge construction market are focused on developing and integrating latest technologies in the construction of highways, streets, and bridges to strengthen their position in the market.
For instance, in July 2021, MX3D, a Netherlands-based software company that develops robotic 3D metal printing technology, constructed and introduced a 12-meter-long 3D-printed pedestrian street ’smart bridge’ in Amsterdam.The bridge was built from stainless steel rods using six-axis robotic arms outfitted with welding equipment and four commercially available industrial robots.
The company provided common industrial robots with tools that were specifically designed for them and created the software to control them. The innovative method enables the company to 3D-print metal structures that are robust, intricate, and graceful.
In October 2020, Southland Holdings, a US-based construction company, acquired American Bridge Company for an undisclosed amount.This acquisition allows Southland Holdings to diversify its business portfolio in highway, bridge, road, tunnel, and marine construction.
American Bridge Company is a US-based company that constructs buildings, roads and bridges.
The countries covered in the highway, street, and bridge construction 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 highway, street, and bridge construction market research report is one of a series of new reports that provides highway, street, and bridge construction market statistics, including highway, street, and bridge construction industry global market size, regional shares, competitors with a highway, street, and bridge construction market share, detailed highway, street, and bridge construction market segments, market trends and opportunities, and any further data you may need to thrive in the highway, street, and bridge construction industry. This highway, street, and bridge construction 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.
Read the full report: https://www.reportlinker.com/p06463958/?utm_source=GNW
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