PORTLAND, Oregon, July 16, 2020 /PRNewswire/ -- Allied Market Research published a report, titled, "Bridge Construction Market by Type (Beam Bridge, Truss Bridge, Arch Bridge, Suspension Bridge, Cable-Stayed Bridge, and Others), Material (Steel, Concrete, and Composite Materials), and Application (Road & Highway and Railway): Global Opportunity Analysis and Industry Forecast, 2020–2027." According to the report, the global bridge construction industry generated $908.0 billion in 2019, and is expected to reach $1,212.6 billion by 2027, growing at a CAGR of 4.6% from 2020 to 2027.
Drivers, restraints, and opportunities
Rise in investments to enhance transport infrastructure, surge in number of vehicles, and increase in urbanization drive the growth of the global bridge construction market. However, slow economic activities after Brexit and uncertain economic conditions hinder the market growth. On the other hand, focus on public–private partnerships and demand for railway bridges with rise in industrialization present new opportunities in the coming years.
- Due to lockdown imposed by the governments of various countries to curb the spread of COVID-19, bridge construction activities have been stopped.
- Import and export activities have been halted by some countries, so construction companies are not able to procure raw material to resume construction.
- Moreover, construction workers have returned to their hometowns, due to which, many construction activities have not been resumed with full capacity post-lockdown.
Download Report Sample (185 Pages PDF with Insights) @ https://www.alliedmarketresearch.com/request-sample/5420
The beam bridge segment to maintain its lead position during the forecast period
Based on type, the beam bridge segment accounted for the highest share in 2019, holding more than one-third of the global bridge construction market, and is estimated to maintain its lead position during the forecast period. In addition, this segment is projected to witness the highest CAGR of 5.6% from 2020 to 2027. This is attributed to rise in government investments in the infrastructure and transportation development. The report also analyzes segments including truss bridge, arch bridge, suspension bridge, cable-stayed bridge, and others.
The concrete segment to maintain its dominance throughout the forecast period
Based on material, the concrete segment accounted for nearly half of the global bridge construction market in 2019, and is expected to maintain its dominance throughout the forecast period. This is attributed to increase in usage of precast or prestressed concrete panels for faster construction and adoption of acquisition strategy by market players. However, the steel segment is expected to register at the fastest CAGR of 5.3% from 2020 to 2027. This is due to increase in investments for construction of railway bridges that are made from steel.
Get detailed COVID-19 impact analysis on the Bridge Construction Market: https://www.alliedmarketresearch.com/request-for-customization/5420?reqfor=covid
Asia-Pacific, followed by North America, to offer lucrative opportunities
Based on region, Asia-Pacific, followed by North America, contributed to the largest share of more than half of the global bridge construction market in 2019, and is estimated to continue its dominant share by 2027. Moreover, this region is expected to maintain the highest CAGR of 5.3% from 2020 to 2027. This is attributed to surge in population, urbanization, and strong economic growth leading to development of transport infrastructure in the region. The report also analyzes segments including LAMEA and Europe.
Leading market players
- ACS Group
- Balfour Beatty
- China Communications Construction Company Limited
- China Railway Group Ltd.
- HOCHTIEF AG
- Kiewit Corporation
- SAMSUNG C&T
Interested in Procure Data? Visit Here: https://www.alliedmarketresearch.com/bridge-construction-market/purchase-options
Access AVENUE- A Subscription-Based Library (Premium on-demand, subscription-based pricing model) at: https://www.alliedmarketresearch.com/library-access
Avenue is a user-based library of global market report database, provides comprehensive reports pertaining to the world's largest emerging markets. It further offers e-access to all the available industry reports just in a jiffy. By offering core business insights on the varied industries, economies, and end users worldwide, Avenue ensures that the registered members get an easy as well as single gateway to their all-inclusive requirements.
Avenue Library Subscription | Request for 14 days free trial of before buying:
Similar Reports We Have:
Construction Equipment Market: Global construction equipment market is expected to reach $261,047 million in 2027, growing at a CAGR of 4.3% from 2020 to 2027.
Construction Lasers Market: Global construction lasers market is expected to reach $3,363.0 million by 2025, growing at a CAGR of 4.4% from 2018 to 2025.
Compact Construction Equipment Market: Global Compact Construction Equipment is projected to reach $9,438 million in 2023, growing at a CAGR of 6.2% from 2017 to 2023.
Heavy Construction Equipment Market: Global heavy construction equipment market is projected to reach $2,40,496.0 million by 2027, registering a CAGR of 4.2% from 2020 to 2027.
Pre-Engineered Buildings Market: Global pre-engineered buildings market is projected to reach $37,807.3 million by 2026, growing at a CAGR of 14.5% from 2019 to 2026.
Pre-Book Now with 12% Discount:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
5933 NE Win Sivers Drive
#205, Portland, OR 97220
Toll Free: 1-800-792-5285
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Follow us on: LinkedIn Twitter
SOURCE Allied Market Research