The Business Research Company’s Bridges Global Market Report 2023 – Market Size, Trends, And Global Forecast 2023-2032
LANDON, GREATER LANDON, UK, November 15, 2023 /EINPresswire.com/ — The global bridges market is poised for substantial growth, segmented into various types, materials, and applications. The market size is projected to increase from $110.11 billion in 2022 to $118.67 billion in 2023, reflecting a robust compound annual growth rate (CAGR) of 7.8%. Despite disruptions caused by the Russia-Ukraine war affecting global economic recovery from the COVID-19 pandemic, the bridges market is anticipated to expand further, reaching $155.32 billion by 2027 at a CAGR of 7.0%.
Infrastructure Developments Driving Market Growth
The surge in infrastructure developments worldwide is a key driver for the growth of the bridges market. Infrastructure plays a vital role in supporting the operations of enterprises and society, encompassing constructions like buildings, roads, power supplies, and bridges. The increase in investments in infrastructure development, highlighted by a rise in FDI investments from $17.22 billion in 2020 to a projected $1.4 trillion by the end of 2023, is expected to propel the bridges market forward.
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Major Players in the Bridges Market
Key players shaping the bridges market include ACS Group, AECOM, Balfour Beatty, China Communications Construction Company Limited, China Railway Group Ltd., Fluor, Hochtief AG, Kiewit Corporation, Samsung CAndT, VINCI, Sanford Contractors, Precon Smith Construction, Brennan, Milbocker and Sons, and WSP. These industry leaders are crucial in driving innovation and advancements in bridge construction.
Technological Advancements Transforming the Industry
The introduction of new technologies in construction is revolutionizing the bridges market. Companies are actively implementing technologies such as road-rail cable-stayed systems, robots, virtual reality, and augmented reality to enhance construction speed, efficiency, and overall bridge performance. For instance, the utilization of advanced technology in the construction of an under-construction arch steel bridge in Bangladesh is set to improve structural performance and bridge management.
Asia-Pacific Leading the Market Growth
In 2022, Asia-Pacific emerged as the largest region in the bridges market and is expected to continue its dominance as the fastest-growing region in the forecast period. The comprehensive report provides detailed insights into regional dynamics, market trends, and growth opportunities across Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
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Bridges Global Market Report 2023 from TBRC covers the following information:
1. Market size date for the forecast period: Historical and Future
2. Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
3. Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.
The Bridges Global Market Report 2023 by The Business Research Company is the most comprehensive report that provides insights on bridges market size, drivers, trends, major players, competitors’ revenues, market positioning, and market growth across geographies. This report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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