Authored By: Sarah
23 Dec 2022

Road Construction and Maintenance Market Analysis 2023-2027: Emergence of Smart Cities will Fuel the Market Growth 

The road construction and maintenance market is segmented by application (new construction, reconstruction, and repair), type (highway, street, and bridge), and geography (APAC, North America, Europe, Middle East and Africa, and South America). The emergence of smart cities is the major road construction and maintenance market trend which will positively influence the market value. 

Road Construction and Maintenance Market Outlook 2027 

  • The road construction and maintenance market share will value over USD 259.95 billion by 2027 

  • It is estimated to expand at a CAGR of 5.42% from 2022 to 2027 

  • The road construction and maintenance market size will witness a YOY growth rate of 4.35% in 2023 

Get a peek into the Road Construction and Maintenance Market Analysis Report 2023-2027. Unlock the Sample Report 

Road Construction and Maintenance Market Analysis 2023-2027: Emergence of Smart Cities will Fuel the Market Growth

Emergence of Smart Cities will Fuel the Market Growth  

An increase in the number of smart city projects across the world will give rise to the need for the installation of road safety equipment in advanced road network systems. Hence, the increase in the number of smart cities across the globe can drive the growth of the road construction and maintenance market during the forecast period.

Growth in the Number of Automobiles on the Roads to Drive Market Growth 

Population growth and rapid urbanization across the globe have positively impacted the growth of road infrastructure and its development to cater to the needs of the transportation sector. The growing automobile production volumes and the entry of players into new markets will spur the demand for road construction and maintenance

Road Construction and Maintenance Market Vendors 

Some of the major road construction and maintenance market vendors are: 

  • Advantage North Services Ltd.
  • Afcons Infrastructure Ltd.
  • Balfour Beatty Plc
  • Blacklidge
  • Cat Works LLC
  • Dilip Buildcon Ltd.
  • Dragados
  • Ebenezer Commercial Works Ltd.
  • Granite Construction Inc.
  • Hunan Communication and Water Conservancy Group Ltd
  • Kiewit Corp.
  • Ledcor Group
  • National Highways and Infrastructure Development Corp. Ltd.
  • STRABAG International GmbH
  • Tenmile
  • The Lane Construction Corp.
  • United Materials 
  • Xenomatix

Technavio's research report provides insights into the top market player and their product portfolio along with pipeline analysis of upcoming developments and growth opportunities. Download the Free PDF Sample Report 

Key Takeaways 

  • The rise in the cost of construction are the major hindrance for market players 

  • The road construction and maintenance market structure is fragmented in nature. 

  • 41% of road construction and maintenance market growth will develop from APAC. 

  • The market growth by the new construction segment will be significant during 2023-2027 owing to the global demand for the road construction and maintenance industry.

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