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Road Maintenance Market Size

Report ID: GMI6474
Published Date: Aug 2023
Report Format: PDF

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Road Maintenance Market Size

Road Maintenance Market size was valued at USD 14.1 billion in 2022 and will grow at a CAGR of over 5% from 2023 to 2032. This growth can be attributed to the increasing government investments in infrastructure development projects. Economic stimulus plans and transportation policies have attracted significant government funding for infrastructure projects

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Regulations that mandate road safety standards, environmental sustainability, and overall quality positively influence road maintenance activities. In April 2023, the American Association of State Highway and Transportation Officials (AASHTO) released a new guide on the use of drones for road maintenance. Such moves and initiatives will help bring about favorable outcomes for the market development.

Road Maintenance Market Report Attributes
Report Attribute	Details
Base Year:	2022
Road Maintenance Market Size in 2022:	USD 14.1 Billion
Forecast Period:	2023 to 2032
Forecast Period 2023 to 2032 CAGR:	5%
2032 Value Projection:	USD 23.8 Billion
Historical Data for:	2018 to 2022
No. of Pages:	300
Tables, Charts & Figures:	207
Segments covered:	Road Type, Service Type
Growth Drivers:	Increasing government focus on road maintenance to extend lifespan of road Aging infrastructure drive need for road maintenance Rapidly growing tourism industry Technology advancement in road construction material
Pitfalls & Challenges:	Funding shortage in least developed countries

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Limited public funding or budgetary constraints for infrastructure projects can hinder road maintenance efforts. Insufficient investment may lead to delayed repairs, reduced maintenance frequency, and overall deterioration of road networks. In addition, road maintenance projects may encounter difficulties when navigating complicated regulatory frameworks, obtaining required permits, and adhering to numerous environmental and safety regulations. Bureaucratic delays and hurdles may slow down maintenance initiatives and impact their effectiveness, leading to sluggish market growth.

Authors: Preeti Wadhwani, Anish Pathak

Frequently Asked Questions (FAQ) :

The market size of road maintenance was reached USD 14.1 billion in 2022 and will witness over 5% CAGR from 2023 to 2032, due to the rising government investments in infrastructure development projects.

The highway road type segment held 40% of the road maintenance market share in 2022 and may grow significantly through 2032, driven by the critical need for safety, efficiency, and sustainability.

Asia Pacific road maintenance market size exceeded USD 5.2 billion in 2022 and will observe commendable growth from 2023 to 2032, due to rapid urbanization, population expansion, and increasing economic activities.

Balfour Beatty, Bechtel Corporation, Colas Group, Downer Group, Fluor Corporation, Group ACS, Hochtief, Kiewit Corporation, and Vinci SA are some of the key road maintenance firms.