The "Bridge Construction Global Market Report 2022" report has been added to ResearchAndMarkets.com's offering.
This report provides strategists, marketers and senior management with the critical information they need to assess the global bridge construction market.
The global bridge construction market is expected to grow from $846.44 billion in 2021 to $887.11 billion in 2022 at a compound annual growth rate (CAGR) of 4.8%. The bridge construction market is expected to grow to $1,095.61 billion in 2026 at a CAGR of 5.4%.
Major players in the bridge construction market are ACS Group, AECOM, Balfour Beatty, China Communications Construction Company Limited, China Railway Group Ltd, Fluor, Hochtief AG, Kiewit Corporation, Samsung CAndT, VINCI, Sanford Contractors, Precon Smith Construction, Brennan, Milbocker and Sons, and WSP.
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The bridge construction market consists of sales of bridge construction by entities (organizations, sole traders, and partnerships) that refer to the construction of a structure over a physical obstacle such as water bodies, valleys, and roads, to provide crossing over that obstacle. The common materials used in the construction of bridges include structural steel, reinforced concrete, pre-stressed concrete, or post-tensioned concrete, depending on the structural behavior of the bridge.
The main types of bridge construction include beam bridge, truss bridge, arch bridge, suspension bridge, and cable-stayed bridge. The beam bridge consists of the sales of beam bridge construction by entities (organizations, partnerships, and sole proprietors) that refers to horizontal structure that rests on two-end supports, and carries traffic by acting as a beam. The beam possesses the strength to bear the dynamic and static loads acted on it. The materials used in bridge construction include steel, concrete and composite material. The applications of bridge construction include roads and highways and railways.
Asia-Pacific was the largest region in the bridge construction market in 2021. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the bridge construction market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
An increase in infrastructure developments across the globe is expected to propel the growth of the bridge construction market. Infrastructure refers to physical and organizational structures and facilities that are needed for the operations of enterprises and society.
This infrastructure consists of constructions such as buildings, roads, power supplies, and bridges and helps to promote the long-term viability of households and businesses. Bridges come under hard infrastructure which makes up the physical systems that help to manage growing traffic.
For instance, in February 2021, according to Financial express-news, according to the study published by the Department for Promotion of Industry and Internal Trade (DPIIT), FDI investments in construction and development infrastructure were $17.22 billion in 2020, which is expected to increase to $1.4 trillion by end of 2023. Thus, the increase in investments in the development of infrastructure will support the growth of bridge construction going forward.
Introducing new technologies in construction is shaping the bridge construction market. Major companies operating in the bridge construction market are focused on implementing new technologies in bridge construction, to build bridges better and faster and contribute to longer bridge life. New Technologies like road-rail cable-stayed are used in the construction of new bridges especially bridges constructed on rivers.
Further, advanced technologies such as robots, virtual reality and augmented reality technologies are being used to construct bridges at reduced operational cost and reduce the lead time of the projects. For instance, the new under-construction arch steel bridge in Bangladesh is constructed with advanced technology in bridge maintenance and management to improve the structural performance of the bridges.
The countries covered in the bridge construction market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
For more information about this report visit https://www.researchandmarkets.com/r/3t6zme
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