China Bridge Infrastructure Market Assessment, By Bridge Type, By Material, By Application,, By Region, Opportunities and Forecast, 2017-2031F

China bridge infrastructure market is expected to observe a CAGR of 5.06% during the forecast period 2024-2031F, rising from USD 148.34 billion in 2023 to USD 220.17 billion in 2031F. Government policies and rising investment to expand and upgrade current transportation infrastructure, coupled with integration of transport network across China, anticipated to push the growth of China bridge infrastructure market. China dominates the global bridge infrastructure market due to scale of projects, speed of construction, technological innovations, and international collaboration, resulting in higher growth and investment in the infrastructure sector. Further, China owns eight of top 10 largest suspension bridges, with five under construction.

China's Belt and Road Initiative (BRI) is a major project for bridge construction market. Even though a majority of construction projects are carried out abroad. China is the primary source of machinery exports due to the Chinese government's tax incentives for construction companies that acquire equipment. These incentives support their involvement in the Belt and Road Initiative. China's BRI aims to enhance global trade routes and connectivity, which includes significant investments in infrastructure projects across participating countries. The initiative often involves building bridges and related infrastructure. Companies are planning to expand their footprint in the country, anticipating the significant demand created by the country's flagship initiative.

For instance, the estimated cost of the Shanghai Urban Rail transit extension is USD 44.23 billion. It consists of three intercity railroads, six subway lines, and nine rail projects. An estimated 286 kilometers will be covered by the project. Better links between Shanghai's two airports and its two main railway terminals are part of the goal.

Government Initiatives to Influencing Market Growth

China's long-term plan to achieve global connectivity through the One-Belt-One-Road (OBOR) initiative in the construction of a rail network connecting China to Europe. By promoting investment in Eurasian logistics and transport, the policy seeks to revive and expand the historic Silk Road that connects China and Europe. This will increase China's commerce, investment, and economic integration.

For instance, the Second Eurasia Land Bridge, also known as the New Eurasia Land Bridge, is an international railway connection that connects Lianyungang in China's Jiangsu province through Alashankou in Xinjiang to Rotterdam in Holland.

Rapid Construction and Development of Infrastructure in the Country

Due to government investments in infrastructure projects, such as building new roads and highways, to promote economic growth and enhance transportation networks, China's roads and highways business is expanding quickly. The rise is mostly being driven by the increasing need for infrastructure in China's burgeoning metropolitan areas. China has more than 805,300 highway bridges across the nation. The construction of new roads and highways is given top priority by the Chinese government, which allocates funds for the purpose of drawing foreign businesses and the private sector. China is pushing new highway projects. These include a USD 824.5 million project for the Huangyuan to Xihai leg of the Xining-Hetian Expressway in Qinghai Province and a USD 1.07 billion highway connecting Yongjing and Jingping. The USD 2.3 billion G15 highway project, which is anticipated to enhance the path between Ningbo, Taizhou, and Wenzhou in the tendering phase. Official approval for each project has been granted by the Gansu Department of Transport.

The National Railway Corporation of China continues to expand its high-speed rail network, driven by the goal of supporting economic growth by the pursuit of financial profit. China Railway released its business strategy, which states the nation's high-speed rail network spanned around 42,000 kilometers, including the 22km Xiaoxiangling Tunnel, and more than 11 major bridges over 2km in length.

China intends to establish a 15-year plan to build its transportation network in 2021. By 2035, the nation expects to become doubled the size of the global high-speed rail network. Over half of China's 22,000 km of finished high-speed train lines use bridges, according to Yan Hexiang, director of the National Railway Administration's (NRA). Furthermore, Beijing plans to expand the country's high-speed rail network by more than 84% from 2020 to 70,000 km (43,500 miles) by 2035. A 460,000 km network of national expressways and regular highways and a 25,000 km network of excellent interior waterways are part of the plan. For instance, the Quanzhou Bay cross-sea bridge, a part of the Fuzhou-Xiamen-Zhangzhou high-speed railway, in southeast China's Fujian Province. Nonetheless, China's operational railroad network spanned 150,000 km in 2021, an increase of 2.5% from the year before. Thus, the transportation infrastructure is being driven by national initiatives, reflecting the growth of the market.

Roads and Highway Sector to Dominate the Bridge Infrastructure Market

The Roads and highway sector commands dominance in the bridge infrastructure market, marked by extensive investments in road network expansions and upgrades. The industry is in charge of large-scale initiatives to improve connections across the country, such as building many bridges over varied terrains. China's highway industry, which places a strong emphasis on efficiency and safety, uses cutting-edge technologies and creative technical solutions to promote economic growth and satisfy expanding transportation demands. With its extensive national road network, China is positioned as a global leader in bridge construction, underscoring the strategic importance of infrastructure development in promoting trade, travel, and regional integration.

For instance, Chongqing, known as the city of mountains and rivers, has the highest number of bridges in China and the world, with 13,000 as of 2020. The city's unique geography, including undulating mountains and crisscrossing rivers, provides convenience for residents. The city has 8,462 regular highway bridges, 2,974 expressway bridges, 1,551 city transit bridges, 16 dedicated railway bridges, 4 dedicated light rail bridges, and 41 bridges under-construction crossing the Yangtze River and Jialing River, making it the highest, both nationally and globally.

Future Market Scenario (2024 - 2031F)

Strengthening urbanization, increasing transportation needs, and government initiatives for infrastructure development are major drivers for the bridge infrastructure market in China. With eight of the world's top ten largest suspension bridges, five currently under construction, and nine of the top ten longest cable-stayed bridges, four are currently underway, China is a significant market for the development of highways and bridges. Eight of the ten longest arch bridges in the world are located in China, and two more are being built right now. The nation's emphasis on building bridges is demonstrated by important projects that promote the nation's economy and society, including technological developments. Notable examples include the Yanji Yangtze River Bridge in Hubei province, which is scheduled for completion in 2024, the Zhangjiagang-Jingjiang-Rugao Yangtze River Bridge in east China's Jiangsu province, and the Lingdingyang Bridge, the longest-span steel box girder suspension bridge in the world.

China has outlined its ambitious plans for its highway and bridge infrastructure through the Ministry of Transport and the National Development and Reform Commission (NDRC). With a thorough plan provided in the National Highway Network Planning document published in July 2022, the objective is to create a world-class highway network by 2050. China plans to construct 461,000 kilometers of highways by 2035, out of which 162,000 kilometers are to be used as expressways. Building a contemporary, fully operational, green, intelligent, safe, and efficient highway system is the goal.

The strategic investment in highway development is a key element of China's efforts to stabilize its economy, which especially decreased drastically due to COVID-19 breakouts in large cities. China is demonstrating its dedication to expand its transportation network with extensive program. China's massive highway and bridge-building projects are expected to have a major impact on the expansion of the China bridge infrastructure market.

Key Players Landscape and Outlook

To increase their market outreach and maintain competition in the China bridge infrastructure market, big firms have embraced in crucial methods such as product creation, business expansion, agreements, partnerships, and acquisitions.