Published on : Mar 16, 2018
Albany, New York, March 16, 2018: Modern highways are known for their high capacity, efficiency, and planned construction. Recently, a new study focusing construction of highway, street and bridges around the world has been added to the wide archive of Market Research Hub (MRH), with the title of “Highway, Street and Bridge Construction: Global Markets to 2022”. The prime goal and objective of this 187-page study is to offer a holistic outlook of the market covering characteristics as well as market size and growth until the end of 2022. Also, the report focuses on analyzing past trends from 2013 to 2017 and forecasts future prospects from 2017 to 2022 of the global highway, street and bridge construction market with a prime focus on regions including Africa, Eastern Europe, Asia Pacific, North America, and MEA.
Report Key Insights
If a road is well planned and executed according to the plan, a highway can open the gates of growth and development. Highways open new trade routes and almost every industrial region in the world is connected to the major highway network system of that particular country. Similarly, bridges also play an important role which resolves transportation issues in several economies. According to the latest research findings, the market for highway, street and bridge construction reached a value of nearly $1,464.6 billion in 2017 and is further anticipated to grow at a compound annual growth rate of 8.4% to nearly $2,191.5 billion by 2022.
To elaborate further on this rapidly growing market, the report also offers a detailed analysis of the key factors that are driving the growth of the global highway, street and bridge construction market. A holistic and comprehensive analysis on the drivers, restraints, opportunities, and threats has been included in the report. It has been analyzed that due to increasing investments, government initiatives, and economic growth in developing and developed economies, the market has been gaining immense traction in the market.
In terms of geography, Asia Pacific is the largest market for highway, street and bridge, accounting for a maximum revenue share of the global market. Going forward, Eastern Europe is probable to witness the fastest growth in the highway, street and bridge market. Country-wise analysis is also offered to the readers, which explains major ongoing projects by government, corporate tax structure and major associations among companies.
At present, China is the largest market in terms of value and in the highway, street and bridge construction market. Russia and India are forecasted to have the fastest growth. Some other major factors included in this study are rising population, improving technology, growing urbanization, growth in the construction industry, increasing investments and high demand for enhanced connectivity from nations across the world.
At last, the report profiles some of the leading players in the market. The financial performance of the companies has been included and a detailed analysis has been offered to readers. Major players in the market are China Railway Group Ltd, China Railway Construction Corporation Limited, Groupo ACS, VINCI and others.
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