Home > Construction > Construction Equipment > Road Construction > Pedestrian Bridge Market
Pedestrian Bridge Market size was valued at USD 90 billion in 2022 and is anticipated to grow at a CAGR of 5% between 2023 and 2032. The market has witnessed significant growth due to increased investments in the development of public infrastructure such as roads. Government agencies are constructing pedestrian bridges to allow people to cross-roads safely. The growing urban population and the increasing number of roads will positively influence the market growth. The development of 3D-printed pedestrian bridges is expected to provide growth opportunities and improve the market outlook. Various companies are repurposing old infrastructure, such as windmill blades, to build pedestrian bridges.
A pedestrian bridge is a structure designed to allow people to walk safely from one location to another without any interference from vehicles. People enjoy walking as it enables them to see places & activities, experience the vibrancy of life, and discover the values & attractions hidden in the urban areas. These bridges also offer easy mobility and safety from crimes. The degree of attractiveness that artificial environments such as pedestrian bridges provide people to reside, live, shop, socialize, and enjoy in the areas is referred to as pedestrian-oriented capability.
Report Attribute | Details |
---|---|
Base Year: | 2022 |
Pedestrian Bridge Market Size in 2022: | USD 90 Billion |
Forecast Period: | 2023 to 2032 |
Forecast Period 2023 to 2032 CAGR: | 5% |
2032 Value Projection: | USD 140 Billion |
Historical Data for: | 2018 - 2022 |
No. of Pages: | 281 |
Tables, Charts & Figures: | 340 |
Segments covered: | Type, Construction Type, Material, End-Use |
Growth Drivers: |
|
Pitfalls & Challenges: |
|
Pedestrian bridges can be costly, particularly for large-scale projects such as construction near industrial facilities, airports, and commercial areas. Truss bridges, beam bridges, suspension bridges, cable-stayed pedestrian bridges, and arch bridges can be expensive depending on the material, design, and installation requirements. Considering the cost of maintenance & repair as well, pedestrian bridges require significant investments from businesses & organizations. Also, businesses & organizations may hesitate to spend on these systems due to financial constraints, thereby impeding the pedestrian bridge market demand.
There was a high demand for pedestrian bridges from developed countries including the U.S., Germany, Italy, and the UK and developing countries such as India and China; however, the COVID-19 pandemic and lockdowns imposed by governments worldwide negatively impacted the market. The global construction industry was shut down, reducing the demand for pedestrian bridge construction, thereby hampering the market size.
The pedestrian bridge industry will boom with increasing population and urbanization. The global population has grown significantly over the last few decades and is expected to grow rapidly in the coming decades. Countries in Asia and Africa, particularly India and China, are expected to contribute significantly to the rising urbanization over the next 30 years. Public entities construct pedestrian bridges for residents to safely cross urban areas while staying away from traffic. Rapid population growth and the rising GDP are contributing to the increasing number of roads, positively influencing the market outlook. Pedestrian bridges play a critical role in public infrastructure as they allow pedestrians to easily cross-roads without accidents. The growing number of roads worldwide, particularly in developing countries, is a major factor driving the market revenue.
The pedestrian bridge market from new construction segment will register 3% CAGR through 2032, attributed to the increasing construction of new pedestrian bridges on new streets & roads, particularly in developing countries. New construction includes a new project involving the development of a pedestrian bridge from the scratch.
The beam bridges segment held over 30% of pedestrian bridge market share in 2022. It includes all bridges with a deck installed atop structural beam elements, such as I-Beam and Box-Girders, that are supported by an abutment or pier at both bridge ends. These bridges are commonly found across cities due to their simple design, simple construction, and ease of maintenance. Beam bridges are primarily made of steel, concrete, and wood. Backwoods Bridges is a well-known timber-beam bridge company based in the U.S.
The pedestrian bridge market from steel material segment dominated around USD 30 billion in 2022. Steel offers increasing ease of workability, recyclability, and lightweight. It is easier to mold into different shapes, lighter in weight, and allows construction at a faster rate than concrete. The rising urbanization & urban infrastructure and increasing number of roads are augmenting segment growth.
Asia Pacific pedestrian bridge market is poised to expand at 5% CAGR during the forecast period. The region's high population growth rate and increased urbanization fuel the need for transportation infrastructure such as roads, bridges, and pedestrian infrastructure including pedestrian bridges. The Asia Pacific market will witness public-private partnerships for public infrastructure development including pedestrian bridges, making it relatively easier for governments in the region to invest in them, thereby boosting market value.
Some major players operating in the pedestrian bridge market are
These companies focus on strategic partnerships and new product launches & commercialization for market expansion. They also heavily invest in research & development, launching innovative products and garnering the maximum revenue in the market.
Click here to Buy Section of this Report
Market, By Type
Market, By Construction Type
Market, By Material
Market, By End-Use
The above information has been provided for the following regions and countries: