Bridge Construction Market Size - By Type (Beam, Truss, Arch, Suspension, Cable-Stayed), By Material (Steel, Concrete, Composite Material), By Application (Road & Highway, Railway) Forecast 2023 – 2032

Bridge Construction Market Size

Bridge Construction Market size was valued at USD 763.4 billion in 2022 and is estimated to grow at a CAGR of over 6% from 2023 to 2032. Driven by the aging infrastructure across several developed economies.

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According to American Road & Transportation Builders Association, there are 42,951 structurally deficient U.S. bridges that see 163.2 million daily crossings. Also, one in three American bridges, including 29% of Interstate bridges, need to be replaced or repaired. These bridges are aging and require repair, replacement, or expansion to meet modern safety and capacity standards, augmenting the need for new construction, helping construction equipment market growth.
 

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The complex regulatory processes and lengthy permitting procedures can hinder the timely initiation and completion of bridge construction projects. Navigating through environmental assessments, land use regulations, and other legal requirements can result in project delays and increased costs. Besides, limited government budgets and competing priorities for public spending can restrict funding available for new bridge construction projects. Economic uncertainties and fiscal constraints may lead to reduced investments in infrastructure development, affecting the initiation of new bridge construction projects.

COVID-19 Impact

The COVID-19 pandemic had a notable impact on the bridge construction market. Lockdowns, labor shortages, and disruptions to supply chains delayed construction projects worldwide. For example, the pandemic caused delays in the construction of the Tappan Zee Bridge replacement in New York, USA. Reduced government revenues due to the economic downturn also affected funding for new projects. Despite these challenges, some regions witnessed an increased emphasis on infrastructure spending as part of economic recovery plans, potentially mitigating the pandemic's negative effects on the bridge construction business.

Bridge Construction Market Trends

Innovations in construction materials, design methods, and engineering techniques allow for more efficient and durable bridge construction, attracting investment in new projects. For instance, self-healing concrete contains bacteria that can repair cracks that form in the concrete over time. This can help extend the lifespan of bridges and reduce the need for maintenance. Collaborations between public and private sectors for infrastructure development, including bridges, bring in additional funding sources and expertise, driving project initiation and thus fostering the market growth.

Bridge Construction Market Analysis

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The beam bridge segment was crossed USD 250 billion in 2022 and predicted to surpassed USD 550 billion by 2032. The market revenue from the beam bridge segment will grow substantially through 2032. The beam bridge construction market is gaining momentum due to its cost-effectiveness, simplicity in design, and efficiency in short to medium-span crossings. Beam bridges are quick to construct and require relatively fewer materials, making them attractive for various infrastructure projects.

Moreover, advancements in materials like prestressed concrete and composite materials have enhanced their load-bearing capabilities. As regions prioritize efficient infrastructure development, beam bridges offer a practical solution, impacting their increasing adoption and growth in the construction market.

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The concrete segment held approximately 43.90% of the bridge construction market share in 2022 and will reach USD 550 billion by 2032. Governments and private entities continue to invest in infrastructure projects such as roads, bridges, airports, and public transportation systems. Concrete's durability, versatility, and load-bearing capacity make it a preferred choice for these projects. Advances in concrete technology, such as self-healing concrete, high-performance concrete, and 3D printing with concrete, expand its applications and improve its performance.

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North America bridge construction market size exceeded USD 190 billion in 2022. Aging infrastructure, like the outdated bridges in the United States, necessitates replacements and upgrades. Additionally, increasing urbanization and the demand for efficient transportation systems boost investments in new bridge construction. Federal funding initiatives and government commitments to infrastructure development further propel this growth. Despite these, the push for resilient structures in the face of climate challenges also fuels the demand for modern bridge construction practices in the region.

Bridge Construction Market Share

Major players operating in the bridge construction market are

• China Communications Construction Company (CCCC),
• Vinci SA
• Bouygues Construction
• ACS Group
• Bechtel Corporation
• Skanska AB
• Fluor Corporation
• Obayashi Corporation
• Kiewit Corporation
• Samsung C&T Corporation
• AECOM
• Mott MacDonald
• Balfour Beatty
• Stanec
• T.Y. Lin International.

This market research report on bridge construction 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 Type

• Beam Bridge
• Truss Bridge
• Arch Bridge
• Suspension Bridge
• Cable-Stayed Bridge
• Other

By Material

• Steel
• Concrete
• Composite Material

By Application

• Road & Highway
• Railway

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