What are the Historical Developments and Current Growth Metrics of the Highway, Street, And Bridge Construction Market?
The highway, street, and bridge construction market has seen considerable growth due to a variety of factors.
• The consistent expansion of the highway, street, and bridge construction market has led it to grow from $896.06 billion in 2024 to an estimated $938.05 billion in 2025, showing a compound annual growth rate (CAGR) of 4.7%.
The past growth the sector witnessed was due to factors such as increased population and urbanization, the need to replace ageing infrastructure, public funding and initiatives, enhancements of transportation networks, and aims of economic development.
How Does the Forecast Look for the Highway, Street, And Bridge Construction Market?
The highway, street, and bridge construction market is expected to maintain its strong growth trajectory in upcoming years.
• The market for construction on highways, streets, and bridges is projected to experience significant growth in the upcoming years, with estimations suggesting an increase to $1151.74 billion by 2029 alongside a compound annual growth rate (CAGR) of 5.3%.
Drivers for this growth, during the forecast period, include initiatives towards smart cities, a stronger emphasis on environmental sustainability, improvements in urban mobility solutions, and increased private sector participation. Key trends anticipated over this forecast period involve the use of innovative materials, collaborations between public and private sectors, a heightened focus on safety, the use of intelligent construction equipment, the implementation of 3D printing in construction practices, and the introduction of sustainable financing for transportation infrastructure.
Which Key Drivers Are Propelling Th Highway, Street, And Bridge Construction Market's Growth?
The global surge in infrastructure investments is significantly fueling the expansion of the highway, street, and bridge construction market. An infrastructure investment fundamentally pertains to a fund that focuses on specific securities within sectors that build the country's infrastructure. It encompasses the deployment of capital into infrastructure and services, which are crucial for everyday life, professional purposes, and transportation. Public or private sectors handle highway, street, and bridge construction and refurbishments. For instance, the UK-based Office for National Statistics disclosed in July 2024 that in 2023, the total investment in the infrastructure market sector stood at around $17.5 billion (£13.8 billion) at constant prices, registering a 3.9% rise compared to 2022. Concurrently, the projected net stocks of infrastructure in the market sector were valued at nearly $431.1 billion (£350.2 billion) at constant prices, indicating a minor increase of 0.3% from the preceding year. Thus, the boost in global infrastructure investments is propelling the growth of the highway, street, and bridge construction market.
How Are The Segments Defined Within The Global Highway, Street, And Bridge Construction Market?
The highway, street, and bridge construction market covered in this report is segmented –
1) By Type: Highway, Street, Bridge
2) By Construction Type: New Construction, Reconstruction And Repair
3) By Funding: Government Funding, Private Funding
Subsegments:
1) By Highway Construction: New Highway Construction, Highway Rehabilitation And Maintenance, Highway Expansion
2) By Street Construction: New Street Construction, Street Rehabilitation And Maintenance, Street Widening And Upgrades
3) By Bridge Construction: New Bridge Construction, Bridge Repair And Maintenance, Bridge Replacement And Retrofitting
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How Are New Trends Expected To Influence The Growth Of The Highway, Street, And Bridge Construction Market?
Leading firms in the highway, street, and bridge construction industry are placing an emphasis on the adoption and integration of cutting-edge technologies into their operations to consolidate their market position. For instance, HP, an American multinational tech company, in September 2022, introduced its Metal Jet S100 Solution aimed at bolstering supply chain resilience. This avant-garde 3D printing offering facilitates large-scale production of high-grade metal pieces for sectors such as automotive, industrial, and medical. The S100 Metal Jet promises quicker production cycles, amplified flexibility and cost subsistence, ensuring designs and solutions that are customer-centric and in tune with shifting market requirements. As such, these tech upgrades have the potential to considerably impact the Highway, Street, and Bridge Construction market, possibly enhancing the manufacturing process of infrastructure parts while simultaneously shortening construction periods.
Who Are the Key Players in the Highway, Street, And Bridge Construction Market?
Major companies operating in the highway
• street
• and bridge construction market include:
• China State Construction Engineering Corporation Ltd.
• China Railway Group Ltd.
• China Communications Construction Company Limited
• Vinci SA
• Bouygues SA
• Laing O'Rourke
• ACS Group S.A.
• Grupo ACS
• Samsung C&T Corporation
• Hochtief AG
• Larsen & Toubro Ltd.
• Strabag SE
• Bachtel Corporation
• Jacobs Engineering Group Inc.
• Skanska AB
• Colas Group
• Fluor Corporation
• Turner Construction
• Kiewit Corporation
• AECOM
• Balfour Beatty plc
• Ferrovial SA
• PCL Construction
• Stantec Inc.
• Tutor Perini Corporation
• Granite Construction Inc.
• Heijmans N.V.
• Flatiron Construction Corp.
• Lane Construction Corporation
• Continental Engineering Corporation
• Eurovia Ltd.
What Is The Most Dominant Region In The Highway, Street, And Bridge Construction Market?
Asia-Pacific was the largest region in the highway, street, and bridge construction market in 2024. The regions covered in the highway, street, and bridge construction market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
