Increase in number of vehicles on road leads to traffic, which increases the demand for bridges.
PORTLAND, OR, UNITED STATES, October 5, 2021 /EINPresswire.com/ — The bridge construction market has witnessed significant growth over the past decade, owing to rise in investment in various end-user industries such as construction. A number of players are expanding their business around the globe, owing to increased customer base, enhanced effective operations, and expanded geographical reach. This is anticipated to fuel the growth of the global bridge construction market.
The global bridge construction market size was valued at $908.0 billion in 2019, and is projected to reach $1,212.6 billion by 2027, registering a CAGR of 4.6% from 2020 to 2027.
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Asia-Pacific generated the highest revenue in 2019, and is expected to grow at a highest CAGR during the forecast period, followed by LAMEA and North America. In addition, surge in road and highway construction industry in the developing countries such as India, China, India, and Brazil is expected to increase the demand for new bridges. However, volatile economic condition in Latin America may hamper the bridge construction market growth. The impact of this factor is anticipated to reduce in future due to intense competition and new bridge development by market players.
Top 10 Key Market Players
China Communications Construction Company Limited
China Railway Group Ltd
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Key Market Segmentation
Road & Highway
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