The road maintenance market size has grown strongly in recent years, projected to expand from $13.68 billion in 2023 to $14.49 billion in 2024 at a compound annual growth rate (CAGR) of 5.9%. The growth during the historical period can be attributed to factors such as increasing vehicular traffic, government infrastructure development programs, aging road infrastructure, rising urbanization, and heightened public safety concerns. For the forecast period, the road maintenance market is expected to see robust growth, reaching $18.31 billion in 2028 with a CAGR of 6.0%. This anticipated growth is driven by smart city initiatives, a surge in electric vehicle adoption, implementation of environmental regulations, population growth in urban areas, and the development of toll roads. Major trends in this period include the utilization of AI in predictive maintenance, the integration of IoT for road monitoring, the development of green infrastructure, the use of robotics for automated road repairs, and the adoption of 3D road printing.
Global Road Maintenance Market Key Driver
The rising number of road accidents is expected to drive the growth of the road maintenance market, influenced by factors like increased vehicle traffic, distracted driving, and poor road conditions. Effective road maintenance mitigates accidents by repairing surfaces, upgrading safety features, and addressing potholes, thus improving overall safety. For instance, a May 2023 report from the Bureau of Infrastructure and Transport Research Economics (BITRE) noted 1,194 road crash deaths in 2022, a 5.8% increase from 2021, highlighting the urgent need for better road maintenance.
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Global Road Maintenance Market Segments
The road maintenance market covered in this report is segmented –
1) By Product: Pavement Management, Maintenance To Road Fixtures, Litter Control, Vegetation Management
2) By Pavement: Asphalt, Concrete
3) By Roadways: Highways, Lower Traffic Volume Roadways, Local streets
4) By Managing Agencies: Federal, State, Municipal
By Geography:The regions covered in the road maintenance market report areAustralia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
Asia-Pacific was the largest region in the road maintenance market in 2023. North America is expected to be the fastest-growing region in the forecast period.
Major Road Maintenance Industry Players
Vinci SA, CRH Total, Group ACS, Hochtief AG, Eiffage S.A., Bechtel Corporation, Dawson Road Maintenance, Colas Group, Cemex S.A.B. de C.V., Fluor Corporation, Kiewit Corporation, AECOM, Downer Group, Sika AG, Balfour Beatty plc, Ferrovial S.E., Martin Marietta Materials Inc., Granite Construction, Tarmac, The Miller Group, Heidelberg Materials, Crafco Inc., Midland Asphalt Materials Inc.
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Road Maintenance Market Overview
Road maintenance refers to the systematic process of keeping roads and related infrastructure in good condition through routine upkeep and repairs. This includes a range of activities designed to ensure the road surface remains safe, functional, and durable over time. Road maintenance helps keep roads safe, smooth, and in good condition for drivers and pedestrians.
Road Maintenance Global Market Report 2023 provides data on the global road maintenance market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The road maintenance market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.
