PUBLISHER: Allied Market Research | PRODUCT CODE: 1266563
PUBLISHER: Allied Market Research | PRODUCT CODE: 1266563
The global pedestrian bridge market size was valued at $90,341.40 million in 2021 and is projected to reach $142,305.30 million by 2031, registering a CAGR of 4.6% from 2022 to 2031. A pedestrian bridge is specially constructed across a road, river, valley, or other similar body for pedestrians' movements. Few pedestrian bridges allow cyclists as well. Steel, concrete, wood, and fiber-reinforced composite materials are widely used for constructing pedestrian bridges.
Increase in number of roads around the world is driving the need for pedestrian bridges to allow pedestrians to easily cross the roads or streets. The rise in the number of roads is directly proportional to the rise in population and urbanization. According to the United Nations, the expected population in 2050 is going to be over 9.5 billion, which is 1.5 billion more than that of in 2023. Moreover, the construction of pedestrian bridges to attract tourists is also a major driving factor for the market growth. However, the fluctuating cost of raw materials and expensive maintenance of pedestrian bridges hinder the growth of the market.
Furthermore, due to the COVID-19 the pedestrian bridge market witnessed a halt, which led to a small term decline in the market. However, as the number of COVID-19 cases has dropped to almost nil, the market is expected to fully recover by the end of 2023.
Moreover, the development and installation of 3D printed pedestrian bridges is expected to provide lucrative growth opportunities to the key players in the market.
The pedestrian bridge market is segmented on the basis of type, construction type, material, and region. By type, the pedestrian bridge market is classified into truss bridges, beam bridges, suspension bridges, and arch bridges. By construction type, the market is divided into new construction, and reconstruction & repair. By material, it is categorized into concrete, steel, and others. By region, it is analyzed across North America (U.S., Canada, and Mexico), Europe (Germany, France, Italy, UK, and rest of Europe), Asia-Pacific (China, India, Japan, South Korea, and rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa).
Competitive analysis and profiles of the major players in the pedestrian bridge end-user, such as Arup Group, Backwoods Bridges, Contech Engineered Solutions LLC, Denton Corker Marshall, IJP Corporation Ltd, Landmark Products Pty Ltd, Mace Group, Nature Bridges, Skidmore, Owings & Merrill (SOM), and The Walsh Group.