Road & Highway Infrastructure Market Size

Road & Highway Infrastructure Market Size

Road & Highway Infrastructure Market was valued at USD 1.4 trillion in 2022 and is anticipated to register a CAGR of over 3% during 2023 to 2032. The increasing frequency of road accidents will drive business growth. Governments and organizations are investing heavily in upgrading & expanding existing road networks, implementing advanced safety measures, and developing intelligent transportation systems to mitigate accidents. According to the U.S. Department of Transportation, in 2021, the U.S. experienced 39,508 fatal motor vehicle accidents, leading to 42,939 fatalities. This translated to a rate of 12.9 fatalities per 100,000 individuals and 1.37 deaths per 100 million miles travelled.

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The ongoing global trend of urbanization, coupled with population growth, significantly drives the demand for enhanced road & highway infrastructure. As more people migrate to urban areas, the pressure on existing transportation networks increases. Governments & authorities invest in the expansion and improvement of roadways to accommodate the rising population, ensuring efficient mobility within cities and connecting urban centers. This demand, stemming from the influx of residents into cities, fuels continuous advancements and investments in the road & highway infrastructure sector.