Latest News- Road Construction And Maintenance Market: New construction is expected to lead the Application segment during 2025-2029

The Road Construction And Maintenance Market is being driven by Road construction and maintenance with building infrastructure

The Road Construction And Maintenance Market is expected to grow at a CAGR of 4.5% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 230.4 billion. The road construction and maintenance market is undergoing significant transformations, driven by technological advancements and shifting industry trends. Productivity is increasing through the adoption of new materials, such as durable concrete, high-performance concrete, mineral admixtures, condensed silica fume, and high-volume fly ash concrete. Prefabricated modular building blocks are also gaining popularity. However, this shift toward more automated and manufacturing-based construction methods necessitates improved supply chain management for increased efficiency. Simultaneously, construction companies face heightened product liability risks, requiring robust risk management strategies. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Application
  • New construction
  • Reconstruction
  • Repair
• Type
  • Highway
  • Street
  • Bridge
• End-user
  • Government agencies
  • Private contractors
  • Public-private partnerships (PPP)
• Geography
  • APAC
    • China
    • India
    • Japan
    • South Korea
  • North America
    • Canada
    • US
  • Europe
    • UK
    • France
    • Italy
  • South America
  • Middle East and Africa

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Road construction and maintenance with building infrastructure
• Growth in number of automobiles on roads
• Increasing need for highway infrastructure

However, the market also witnesses some limitations, which are as follows:

• Rise in cost of construction
• Lack of workforce in construction industry
• Less product differentiation

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Market Scope in Road Construction And Maintenance Market Research Report

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Research Analysis Overview

The Road Construction and Maintenance Market encompasses various components including asphalt emulsions, polymer-modified asphalt, hot mix asphalt, and cold mix asphalt. It also covers concrete aggregates, reinforced concrete, and prestressed concrete for pavement construction. Pavement distress calls for corrosion protection, concrete repair, surface preparation, and soil stabilization solutions. Drainage systems, roadside vegetation management, and safety audits are essential for maintaining optimal road conditions. Road maintenance contracts employ performance-based contracting, life-cycle cost analysis, traffic simulation, and modeling. Data acquisition, sensor networks, roadway illumination, traffic control devices, traffic data analysis, traffic flow optimization, construction project management, risk management, construction technology, BIM for construction, construction automation, and supply chain management are all integral parts of the market.

Market Research Overview

The global construction and engineering market encompasses businesses specializing in non-residential construction, comprising engineering service providers and Engineering, Procurement, and Construction (EPC) contractors. This sector excludes entities involved in residential construction. According to Technavio, market size is determined by the consolidated revenue of engineering firms and EPC contractors operating within the non-residential domain. Key growth drivers for the construction and engineering market include: 1. Urban infrastructure investment: Population expansion and escalating demands for transportation, communications, and essential services such as water and electricity in major metropolitan areas necessitate substantial investments in infrastructure development. 2. Road construction and maintenance: Asphalt paving, road milling, and concrete construction are crucial aspects of the non-residential construction sector. Technavio anticipates a significant increase in spending on these activities due to the need for improved road safety and traffic management. 3. Bridge rehabilitation: The aging infrastructure of bridges in various regions necessitates extensive rehabilitation efforts. This trend is expected to create substantial opportunities for construction and engineering companies, particularly those with expertise in bridge construction and repair. 4. Construction equipment: The market's expansion is further fueled by the increasing demand for advanced construction equipment, including those used for asphalt paving, road milling, and bridge rehabilitation, which enhance productivity and improve safety standards.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
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Website: www.technavio.com/