What Fueled The Previous Growth In The Bridges Market?
The bridges market has seen considerable growth due to a variety of factors.
• In the past few years, there has been a significant expansion in the bridges market. This market is anticipated to surge from $121.38 billion in 2024 to a staggering $129.54 billion in 2025, representing a compound annual growth rate (CAGR) of 6.7%.
The impressive growth observed during the historical timeframe is a result of factors such as government expenditure, urbanization, industrialization, population growth, and the augmentation of trade.
What Is The Expected Growth In The Bridges Market Size Evolve over the Forecast Period?
The bridges market is expected to maintain its strong growth trajectory in upcoming years.
• We anticipate substantial expansion in the bridges market size in the coming years, with expectations to reach $170.38 billion by 2029 at a compound annual growth rate (CAGR) of 7.1%.
This growth during the forecast period is likely due to advancements in sustainable and smart infrastructure, resilience and adaptability, incorporation of renewable energy, and usage of sophisticated materials. Key trends for the forecast period encompass public-private collaborations, application of modular and preconstructed construction methods, aesthetic design and landscaping enhancements, incorporation of AI and automation technology, and development of floating bridges.
What Main Forces Are Fueling Expansion In The Bridges Market?
The global rise in infrastructure developments is projected to augment the growth of the bridge construction market. Infrastructure, in this context, pertains to the essential physical and organizational structures and amenities vital for enterprises and societal activities. Including aspects like buildings, roads, power systems, and bridges, this infrastructure ensures long-term sustainability of both residences and businesses. Bridges, classified as hard infrastructure, facilitate the management of growing vehicular traffic. For instance, the Office for National Statistics, an independent statistics authority in the UK, reported in August 2024 that total construction new orders experienced an upsurge of 16.5% amounting to £1,771 million ($2,224 million) in Q2 2024 compared to Q1 2024. The primary drivers for this quarterly growth have been identified as a rise in private commercial new works and infrastructure new work, with an increase of 15.1% or £503 million ($637 million) and 23.4% or £389 million ($490 million) respectively. Henceforth, the escalating investments in infrastructure development will continue to catalyze the expansion of the bridge market.
What Are The Primary Segments In The Global Bridges Market?
The bridges market covered in this report is segmented –
1) By Type: Beam Bridge, Truss Bridge, Arch Bridge, Suspension Bridge, Cable-Stayed Bridge
2) By Material: Steel, Concrete, Composite Material
3) By Application: Road and Highway, Railway
Subsegments:
1) By Beam Bridge: Simple Beam Bridge, Continuous Beam Bridge, Cantilever Beam Bridge
2) By Truss Bridge: Pratt Truss Bridge, Warren Truss Bridge, Howe Truss Bridge
3) By Arch Bridge: Concrete Arch Bridge, Steel Arch Bridge, Masonry Arch Bridge
4) By Suspension Bridge: Main Cable Suspension Bridge, Hanger Suspension Bridge
5) By Cable-Stayed Bridge: Single Plane Cable-Stayed Bridge, Multiple Plane Cable-Stayed Bridge
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What Emerging Trends Are Influencing The Growth Of The Bridges Market?
In an effort to bolster infrastructure development and elevate their market presence, leading businesses within the bridges market are implementing a strategic partnerships model. The essence of strategic partnerships lies in companies utilizing each other's strong points and resources to acquire shared benefits and accomplishments. Take for example the alliance between InQuik Inc., an innovative American bridge company, and Commercial Metals Company, a construction solutions provider also based in the US, which happened in June 2024. Their goal is to spread the InQuik bridge solution throughout the United States. Thanks to this union, solid, top-tier bridges will become more readily available and economically feasible for communities, fuelling InQuik's quick expansion through the wide-spread reach and manufacturing skills of CMC.
Who Are the Key Players In The Bridges Market?
Major companies operating in the bridges market include:
• ACS Actividades de Construcción y Servicios S.A.
• AECOM Technology Corporation
• Balfour Beatty plc
• China Communications Construction Company Limited
• China Railway Group Limited
• Fluor Corporation
• Hochtief Aktiengesellschaft
• Kiewit Corporation
• Samsung C&T Corporation
• VINCI S.A.
• Sanford Contractors Inc.
• Precon Smith Construction Inc.
• Brennan Industries Inc.
• Milbocker & Sons Inc.
• WSP Global Inc.
• Bouygues Construction
• Bechtel Corporation
• Skanska AB
• Larsen & Toubro Limited
• Obayashi Corporation
• Salini Impregilo S.p.A.
• Ferrovial S.A.
• JFE Engineering Corporation
• T.Y. Lin International Group
• The Lane Construction Corporation
• COWI A/S
• KBR Inc.
• The Walsh Group Ltd.
• HNTB Corporation
• Tutor Perini Corporation
• Sundt Construction Inc.
• Graham Construction & Engineering LP
• PCL Construction Enterprises Inc.
What Is The Most Dominant Region In The Bridges Market?
Asia-Pacific was the largest region in the bridges market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the bridges market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, Africa.
