Authored By: Sarah
11 Jul 2024

 Road Construction And Maintenance Market to grow by USD 214 billion between 2024-2028

According to a research report “ Road Construction And Maintenance Market” by Application (New construction, Reconstruction, Repair) Type (Highway, Street, Bridge) Geography (APAC, North America, Europe, South America, Middle East and Africa)- Global Forecast to 2028 published by Technavio, the market size is estimated to grow by USD 214 billion at a CAGR of  4.36% during the forecast period. The global road construction and maintenance market is experiencing significant growth due to the expansion of new roads and substantial investments in transportation infrastructure projects. Notable contributors to this trend include China, India, Italy, Russia, Germany, and the US. Despite lower automation penetration in developing countries, they are projected to exhibit the most robust growth during the forecast period, fueled by continuous technological advancements in infrastructure development. For instance, India's Bharatmala Pariyojana program approved the construction of approximately 83,000 kilometers of highways and expressways in October 2017..

Browse market data tables, figures, and in-depth TOC on “Road Construction And Maintenance Market” by Application (New construction, Reconstruction, Repair) Type (Highway, Street, Bridge) Geography (APAC, North America, Europe, South America, Middle East and Africa) Global Forecast to 2028.

 View detailed Table of Content- Click here

By Application, the New construction segment is projected to dominate the market size in 2024.

In the dynamic business landscape of infrastructure development, the Road Construction and Maintenance Market holds significant potential. This sector encompasses the production of raw materials, manufacturing of construction equipment, and provision of related services for the upkeep and enhancement of road networks. Market growth is driven by increasing urbanization, infrastructure development initiatives, and the need for efficient transportation systems. Companies in this market leverage advanced technologies and innovative practices to deliver high-quality, cost-effective solutions, ensuring the smooth flow of commerce and mobility.

By Type, Highway  segment is expected to hold the largest market size for the year 2024.

In the dynamic business landscape of infrastructure development, the Road Construction and Maintenance Market holds significant potential. This sector encompasses the production of raw materials, manufacturing of construction equipment, and provision of related services for the upkeep and enhancement of road networks. Market growth is driven by increasing urbanization, infrastructure development initiatives, and the need for efficient transportation systems. Companies in this market leverage advanced technologies and innovative practices to deliver high-quality, cost-effective solutions, ensuring the smooth flow of commerce and mobility.

APAC is forecasted to hold the largest market size by region in 2024.

In the dynamic business landscape of infrastructure development, the Road Construction and Maintenance Market holds significant potential. This sector encompasses the production of raw materials, manufacturing of construction equipment, and provision of related services for the upkeep and enhancement of road networks. Market growth is driven by increasing urbanization, infrastructure development initiatives, and the need for efficient transportation systems. Companies in this market leverage advanced technologies and innovative practices to deliver high-quality, cost-effective solutions, ensuring the smooth flow of commerce and mobility.

The Road Construction And Maintenance Market t growth and forecasting report also includes detailed analyses of the competitive landscape of the market growth and forecasting and information about 20 market companies, including:

  • ACS Actividades de Construccion Y Servicios SA
  • Advantage North Services Ltd.
  • Afcons Infrastructure Ltd.
  • Balfour Beatty Plc
  • Blacklidge
  • Cat Works LLC
  • Dilip Buildcon Ltd.
  • Ebenezer Commercial Works Ltd.
  • Granite Construction Inc.
  • Hunan Communication and Water Conservancy Group Ltd
  • Kiewit Corp.
  • Ledcor IP Holdings Ltd.
  • National Highways and Infrastructure Development Corp. Ltd.
  • Strabag International GmbH
  • TATA projects
  • Tenmile
  • The Lane Construction Corp.
  • United Materials 
  • Xenomatix
.

For insights on company offerings- Request a sample report!

Research Analysis Overview

In the Road Construction and Maintenance market, adherence to Safety regulations and Environmental sustainability are paramount. Economic stimulus through infrastructure projects is driving the demand for advanced Construction techniques using High-quality materials. Lifecycle costing is a critical consideration, with an increasing focus on Rainwater capture and the use of Building materials that promote Sustainability and Resilience. Rural roads are being upgraded with Data analytics, Drones, and Sensor systems to improve infrastructure and reduce Greenhouse gas emissions. Sustainable materials and Recycled materials are being prioritized to mitigate the impacts of Climate change and Extreme weather. Funding gaps are being addressed through Proactive strategies such as Major repairs, Preventative work, and Reconstruction. Road safety is a key concern, with a focus on reducing Road collisions through Vehicle operating efficiency and Infrastructure improvements.

Market Research Overview

The Road Construction and Maintenance market is a significant sector in the context of the Internet of Things (IoT), particularly in the realm of transportation policies. A research team dedicated to this field is continually exploring promotions and multiple sources to enhance the efficiency and safety of automobiles on roads. Road accidents are a major concern, and the integration of technological sensors and systems in expressways, highway segments, and roadways is crucial for safety regulations and environmental sustainability. Economic activities and population expansion necessitate routine maintenance and construction techniques using high-quality materials and lifecycle costing. Rainwater capture and the use of sustainable and recycled building materials contribute to sustainability and resilience, especially in rural roads. Data analytics and drone technology are essential tools for infrastructure assessment and preventative work. Ageing infrastructure, funding gaps, and extreme weather require proactive strategies for reconstruction, major repairs, and preventative work. The market also focuses on reducing greenhouse gas emissions and promoting environmental sustainability in vehicle operating practices.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

Read News Read Less
Interested in this report?
Get your sample now!
Technavio
Document