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Bridge Construction Market Size

Report ID: GMI6435
Published Date: Aug 2023
Report Format: PDF

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Bridge Construction Market Size

Bridge Construction Market size was valued at USD 763.4 billion in 2022 and is estimated to grow at a CAGR of over 6% from 2023 to 2032. Driven by the aging infrastructure across several developed economies

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According to American Road & Transportation Builders Association, there are 42,951 structurally deficient U.S. bridges that see 163.2 million daily crossings. Also, one in three American bridges, including 29% of Interstate bridges, need to be replaced or repaired. These bridges are aging and require repair, replacement, or expansion to meet modern safety and capacity standards, augmenting the need for new construction, helping construction equipment market growth.

Bridge Construction Market Report Attributes
Report Attribute	Details
Base Year:	2022
Bridge Construction Market Size in 2022:	USD 763.4 Billion
Forecast Period:	2023 to 2032
Forecast Period 2023 to 2032 CAGR:	6%
2032 Value Projection:	USD 1.35 Trillion
Historical Data for:	2018 to 2022
No. of Pages:	200
Tables, Charts & Figures:	266
Segments covered:	Type, Material, Application
Growth Drivers:	Urbanization and Population Growth Rising infrastructure development activities in Asia Pacific Aging infrastructure Increase in inflow of investments to improve transport infrastructure
Pitfalls & Challenges:	Lack of skilled labor Rising environmental concerns

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The complex regulatory processes and lengthy permitting procedures can hinder the timely initiation and completion of bridge construction projects. Navigating through environmental assessments, land use regulations, and other legal requirements can result in project delays and increased costs. Besides, limited government budgets and competing priorities for public spending can restrict funding available for new bridge construction projects. Economic uncertainties and fiscal constraints may lead to reduced investments in infrastructure development, affecting the initiation of new bridge construction projects.

Authors: Preeti Wadhwani, Anish Pathak

Frequently Asked Questions (FAQ) :

The market size of bridge construction exceeded USD 763.4 billion in 2022 and is projected to expand at more than 6% CAGR from 2023 to 2032, driven by the rapidly aging infrastructure across several developed economies worldwide.

Beam bridge construction market was valued at over USD 250 billion in 2022 and is expected to reach USD 550 billion in 2032, owing to increasing demand for cost-effectiveness, simplicity in design, and efficiency in short to medium-span crossings.

North America bridge construction market size surpassed USD 190 billion in 2022 and is expected to grow at notable CAGR from 2023 to 2032, attributed to increasing urbanization and the higher demand for efficient transportation systems in the region.

Some of the prominent bridge construction industry players are China Communications Construction Company (CCCC), Vinci SA, Bouygues Construction, ACS Group, Bechtel Corporation, Skanska AB, Fluor Corporation, Obayashi Corporation, Kiewit Corporation, and Samsung.