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Bridge Inspection and Maintenance Services Market Trends

Report ID: GMI6433
Published Date: Apr 2024
Report Format: PDF

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Bridge Inspection and Maintenance Services Market Trends

The increased allocation of government funding and investment toward bridge inspection and maintenance services is a key driver for market expansion. With greater financial resources available, infrastructure authorities can conduct more frequent and thorough inspections, ensuring the safety and longevity of bridges. Additionally, heightened investment enables the adoption of advanced technologies and methodologies, enhancing the efficiency and effectiveness of maintenance practices. This sustained funding fosters a robust ecosystem for service providers, driving innovation and market growth in the sector.

The rising government funding in the U.S. for road and bridge infrastructure, as evident from the Federal Highway Administration's increasing obligations from USD 47.1 billion in 2018 to an USD 58.9 billion in 2022, provides a significant boost to the market. This sustained funding is expected to support regular inspections, repairs, and preservation work to ensure the safety and longevity of bridges across the nation.

Authors: Preeti Wadhwani, Aishvarya Ambekar

Frequently Asked Questions (FAQ) :

The market size of bridge inspection and maintenance services was reached USD 5.4 billion in 2023 and is expected to register over 3.5% CAGR from 2024-2032, owing to rising government investments in infrastructure development and maintenance projects worldwide.

Bridge inspection and maintenance services industry from the transportation overbridge segment is expected to register over 37% share by 2032, due to their crucial roles in connecting communities and continuous need to ensure the integrity and safety of these vital transportation arteries.

Europe bridge inspection and maintenance services industry reached USD 1.5 billion in 2023 and is expected to register a commendable CAGR from 2024-2032 due to emphasis on sustainable infrastructure and investments in cutting-edge inspection techniques in the region.

AECOM, CEC Corporation, Jacobs Engineering, Johnson, KCI Technologies, Mabey Bridge, Johnson, Mirmiran & Thompson, Mistras Group, Stantec, TUV Rheinland, WSP Global, are some of the major bridge inspection and maintenance services companies worldwide.