Road Maintenance Market Size - By Road Type (Highway and Expressway, Urban Road, Rural Road), By Service Type (Routine maintenance, Emergency maintenance, Reactive maintenance), Forecast 2023 - 2032
Published Date: July - 2024 | Publisher: MRA | No of Pages: 240 | Industry: Construction | Format: Report available in PDF / Excel Format
View Details Buy Now 2890 Download Sample Ask for Discount Request CustomizationRoad Maintenance Market Size - By Road Type (Highway and Expressway, Urban Road, Rural Road), By Service Type (Routine maintenance, Emergency maintenance, Reactive maintenance), Forecast 2023 - 2032
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.
| 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 |
|
| Pitfalls & Challenges |
|
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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.
COVID-19 Impact
The COVID-19 pandemic had a significant impact on the road maintenance market, disrupting schedules, budgets, and workforce availability. Lockdowns and restrictions led to delays in planned maintenance projects worldwide, affecting road quality and safety. The UK Road maintenance programs faced challenges due to reduced resources. These instances underscore how the pandemic hindered regular maintenance efforts, potentially affecting road infrastructure conditions.
Road Maintenance Market Trends
The road maintenance industry is expected to see increased technological integration for more efficient and data-driven maintenance practices. This includes promoting the use of sensors, drones, and other Internet of Things (IoT) devices to monitor road conditions in real-time, allowing authorities to identify issues and prioritize maintenance efforts effectively. In April 2023, the US Department of Transportation awarded a USD 100 million grant to the University of California, Berkeley, to develop new technologies for road maintenance. More efforts in this direction will help carve a healthy growth trajectory for the road maintenance sector.
Road Maintenance Road Market Analysis
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Imagine a busy highway, the lifeblood of a region. In 2022, it accounted for an impressive 40% of the road maintenance business. And get ready, it's only going to get bigger by 2032. Why the surge in road maintenance? Because these highways and expressways are like the veins of our society, carrying the flow of commerce and people. We rely on them for safety, ease of travel, and environmental friendliness. Take India's National Highway Development Program, a massive undertaking to keep their roadways in tip-top shape. These roads are crucial for the country's economic growth. Similarly, in the United States, the Interstate Highway System needs constant TLC to guarantee smooth and safe journeys. As traffic thickens and these routes become even more important for business, it's clear that we need to take road maintenance seriously. It's not just about patching up potholes; it's about ensuring the safety and efficiency of our transportation arteries.
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Hey there! You know how important it is to take care of our roads? Just like your car needs regular maintenance, our roads do too! In 2022, around half of the road maintenance market was all about keeping roads in tip-top shape. And guess what? This part of the market is expected to grow even bigger by 2032. Why? Because keeping our roads safe, smooth, and easy to drive on is just that important. When roads are well-maintained, we're less likely to have accidents and traffic jams. Governments and road authorities all over the world have realized this, so they're putting more effort into routine maintenance. In Australia, for example, they have special teams that go around fixing any small problems on the roads before they turn into big ones. This helps save money in the long run and keeps our roads in great condition. So, there you have it! Routine road maintenance is the key to keeping our transportation networks safe and efficient. That's why it's such a big part of the road maintenance market and why it's only going to become more important in the future.
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Asia Pacific Road maintenance market size exceeded USD 5.2 billion in 2022 and is estimated to witness commendable growth through 2032, owing to rapid urbanization, population expansion, and increasing economic activities. The demand for well-maintained road networks to support efficient transportation and logistics is escalating. India's aggressive infrastructure development plans and urbanization have accentuated the need for upgraded road systems. These factors highlight the Asia Pacific's market dynamic propelled by burgeoning urban landscapes and economic progress.
Road maintenance Market Share
Major players operating in the Market are
- Balfour Beatty
- Bechtel Corporation
- Colas Group
- Downer Group
- Fluor Corporation
- Group ACS
- Hochtief
- Kiewit Corporation
- Vinci SA.
In March 2023, Vinci Highways acquired a 50% stake in Roadserve, a leading road maintenance company in the UK. This acquisition will give Vinci Highways a significant presence in the UK market.
This road maintenance market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue (USD Billion) from 2018 to 2032, for the following segments
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By Road Type
- Highway and Expressway
- Urban Road
- Rural Road
By Service Type
- Routine maintenance
- Emergency maintenance
- Reactive maintenance
The above information is provided for the following regions and countries
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Russia
- Asia Pacific
- China
- India
- Japan
- South Korea
- ANZ
- Latin America
- Brazil
- Mexico
- Argentina
- MEA
- South Africa
- UAE
- Saudi Arabia
Table of Content
Report Content
Chapter 1 Methodology & Scope
1.1 Market scope & definition
1.2 Base estimates & calculations
1.3 Forecast calculation
1.4 Data sources
1.4.1 Primary
1.4.2 Secondary
1.4.2.1 Paid sources
1.4.2.2 Public sources
Chapter 2 Executive Summary
2.1 Road maintenance Market 360º synopsis, 2018 - 2032
2.2 Business trends
2.2.1 Total Addressable Market (TAM), 2023 – 2032
2.3 Regional trends
2.4 Road type trends
2.5 Service type trends
2.6 Application trends
Chapter 3 Road Maintenance Market Industry Insights
3.1 Impact of COVID-19
3.2 Impact of the Russia-Ukraine war
3.3 Industry ecosystem analysis
3.4 Technology & innovation landscape
3.5 Patent analysis
3.6 Key news and initiatives
3.6.1 Partnership/Collaboration
3.6.2 Merger/Acquisition
3.6.3 Investment
3.6.4 Product launch & innovation
3.7 Regulatory landscape
3.8 Impact forces
3.8.1 Growth drivers
3.8.1.1 Increasing government focus on road maintenance to extend lifespan of road
3.8.1.2 Aging infrastructure drive need for road maintenance
3.8.1.3 Rapidly growing tourism industry
3.8.1.4 Technology advancement in road construction material
3.8.2 Industry pitfalls & challenges
3.8.2.1 Funding shortage in least developed countries
3.9 Growth potential analysis
3.10 Porter’s analysis
3.11 PESTEL analysis
Chapter 4 Competitive Landscape, 2022
4.1 Introduction
4.2 Company market share, 2022
4.3 Competitive analysis of major market players, 2022
4.4 Competitive positioning matrix, 2022
4.5 Strategic outlook matrix, 2022
Chapter 5 Road Maintenance Market Estimates & Forecast, By Road Type (Revenue)
5.1 Key trends, by road type
5.2 Highway and Expressway
5.3 Urban Road
5.4 Rural Road
Chapter 6 Road Maintenance Market Estimates & Forecast, By Service Type (Revenue)
6.1 Key trends, by service type
6.2 Routine maintenance
6.3 Emergency maintenance
6.4 Reactive maintenance
Chapter 7 Road Maintenance Market Estimates & Forecast, By Region (Revenue)
7.1 Key trends, by region
7.2 North America
7.2.1 U.S.
7.2.2 Canada
7.3 Europe
7.3.1 UK
7.3.2 Germany
7.3.3 France
7.3.4 Italy
7.3.5 Spain
7.3.6 Russia
7.4 Asia Pacific
7.4.1 China
7.4.2 India
7.4.3 Japan
7.4.4 South Korea
7.4.5 ANZ
7.5 Latin America
7.5.1 Brazil
7.5.2 Mexico
7.5.3 Argentina
7.6 MEA
7.6.1 UAE
7.6.2 Saudi Arabia
7.6.3 South Africa
Chapter 8 Company Profiles
8.1 Balfour Beatty
8.2 Bechtel Corporation
8.3 Colas Group
8.4 Downer Group
8.5 Fluor Corporation
8.6 Granite Construction
8.7 Group ACS
8.8 Hochtief
8.9 Kiewit Corporation
8.10 L&T Construction
8.11 PCL Construction Enterprises
8.12 Royal BAM group
8.13 Skanska AB
8.14 Strabag Construction
8.15 Vinci SA
- Balfour Beatty
- Bechtel Corporation
- Colas Group
- Downer Group
- Fluor Corporation
- Group ACS
- Hochtief
- Kiewit Corporation
- Vinci SA.
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