Highways Global Market Report 2024

Description

“Highways Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses on highways market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

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Gain a truly global perspective with the most comprehensive report available on this market covering 50+ geographies.
Understand how the market has been affected by the COVID-19 and how it is responding as the impact of the virus abates.
Assess the Russia - Ukraine war's impact on agriculture, energy and mineral commodity supply and its direct and indirect impact on the market.
Measure the impact of high global inflation on market growth.
Create regional and country strategies on the basis of local data and analysis.
Identify growth segments for investment.
Outperform competitors using forecast data and the drivers and trends shaping the market.
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Report will be updated with the latest data and delivered to you within 3-5 working days of order along with an Excel data sheet for easy data extraction and analysis.
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Where is the largest and fastest growing market for highways? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The highways market global report ” from The Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

Scope

Markets Covered:

1) By Type: Road Construction And Maintenance; Highway Construction And Maintenance
2) By Component: Hardware; Software; Service
3) By Product Technology: Smart Traffic Management Systems; Smart Transport Management Systems; Monitoring Systems; Communication System
Companies Mentioned: Granite Construction Inc.; Fujian Expressway Development Co. Ltd.; Hunan Communication & Water Conservancy Group Ltd.; Sichuan Railway Investment Guangrun Logistics Co. Ltd.; IBI Group
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Delivery format: PDF, Word and Excel Data Dashboard.

Executive Summary

A highway is a primary road that links towns or cities, known for its width and higher speed limits, contributing to reduced travel time.

The primary types of highways are road construction and maintenance, as well as highway construction and maintenance. Road construction and maintenance encompass activities involved in the building of roads, railroads, bridges, culverts, and other infrastructure related to road construction and upkeep, which may include grading or excavation. The various components encompass hardware, software, and services, with product technologies including smart traffic management systems, smart transport management systems, monitoring systems, and communication systems.

The highways market research report is one of a series of new reports from The Business Research Company that provides highways market statistics, including highways industry global market size, regional shares, competitors with a highways market share, detailed highways market segments, market trends, and opportunities, and any further data you may need to thrive in the highways industry. This highways market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The highways market size has grown steadily in recent years. It will grow from $428.56 billion in 2023 to $449.59 billion in 2024 at a compound annual growth rate (CAGR) of 4.9%. The growth observed during the historical period can be attributed to factors such as population growth and urbanization, economic development, industrialization and trade, government investments in infrastructure, and evolving mobility patterns.

The highways market size is expected to see strong growth in the next few years. It will grow to $551.14 billion in 2028 at a compound annual growth rate (CAGR) of 5.2%. The anticipated growth in the forecast period can be attributed to the adoption of urban mobility solutions, the implementation of smart city initiatives, resilience planning, the promotion of public-private partnerships, and a focus on sustainable transportation. Key trends expected in the forecast period include the expansion of high-speed rail connectivity, the integration of Intelligent Transportation Systems (ITS), the introduction of innovative toll collection methods, the development of bicycle and pedestrian infrastructure, and the incorporation of climate-resilient highway design.

The growth of the highway market is anticipated to be propelled by the increasing number of vehicles. Vehicles serve as means of transportation, facilitating the movement of people and goods between different locations. Well-maintained highways play a crucial role in connecting urban centers and rural communities, enabling efficient transportation. Notably, the International Energy Agency reported a significant rise in global electric car sales, exceeding 10 million in 2022, marking a 60% increase from 6.6 million in 2021. This surge in vehicle numbers contributes to the growth of the highway market.

The highway market is expected to witness growth due to increasing urbanization. Urbanization, driven by economic development and industrialization, transforms rural areas into urban centers. The development of highways is essential for connecting these urban areas, fostering economic growth, and improving overall accessibility. According to the World Bank Group, over half of the global population currently resides in urban regions, and by 2045, the urban population is projected to reach 6 billion, marking a 1.5 times increase. The ongoing trend of urbanization is a significant driver for the highways market.

Technological advancements emerge as a prominent trend in the highway market, with companies adopting new technologies to maintain their market position. An example is the Traffic Management 2.0 launched by the Vienna government of Austria and Kapsch TrafficCom. This system, designed for smart transportation and traffic management, aims to enhance traffic conditions and reduce emissions, contributing to improved air quality.

Major companies in the highway market are focused on developing revolutionary systems incorporating technology, such as traffic sign relevancy technology, to meet regulatory standards. Traffic sign relevancy technology enables systems to identify the relevance of specific speed signs to particular lanes or road segments. For instance, Mobileye, an Israel-based system software company, introduced the world's first vision-only Intelligent Speed Assist (ISA) system in July 2023. This system, designed for Mobileye's EyeQ platform, detects traffic signs and visual signals solely using cameras, offering a cost-effective and reliable solution.

In January 2021, Clyde Companies, Inc., a US-based construction organization, completed the acquisition of Interstate Highway Construction (IHC). The integration of IHC with Clyde's previously acquired Scott Contracting resulted in the formation of IHC Scott, Inc., serving the Denver market with high-quality construction products and services, contributing to Clyde's strategic growth in the highway sector.

Major companies operating in the highways market report are Granite Construction Inc., Fujian Expressway Development Co. Ltd., Hunan Communication & Water Conservancy Group Ltd., Sichuan Railway Investment Guangrun Logistics Co. Ltd., IBI Group, Construction Partners Inc., Tutor Perini Corporation, Stanley Road Construction, Muscat Road Construction & Civil Works LLC, PNC Infratech Limited, New Road Construction Management, Kokosing Construction Company, Sanders Brothers Construction Company Inc., Rogers Group Inc., R.S. Audley Inc., Kiewit Corporation, The Lane Construction Corporation, Skanska USA, Fluor Corporation, AECOM Inc., Jacobs Engineering Group Inc., Turner Construction Company, Clark Construction Group LLC, PCL Construction Enterprises Inc., McCarthy Building Companies Inc., The Whiting-Turner Contracting Company, Swinerton Inc., Mortenson Constructions, DPR Construction, Gilbane Building Company, JE Dunn Construction, Webcor Builders, Hathaway Dinwiddie Construction Company, Sundt Construction Inc., Ryan Companies US Inc., The Boldt Company, Gray Construction Services Inc., .

North America was the largest region in the highways market in 2023. The regions covered in the highways market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

The countries covered in the highways market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The highways market includes revenues earned by entities by constructing and maintaining highways. The market value includes the value of related goods sold by the service provider or included within the service offering. The highways market also includes sales of pothole patchers, hydro excavators, street sweepers, leaf vacuums, and highway monitoring devices and equipment used in providing highway construction services and maintenance. Values in this market are 'factory gate' values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

Product Code: r11023

1. Executive Summary

2. Highways Market Characteristics

3. Highways Market Trends And Strategies

4. Highways Market - Macro Economic Scenario

4.1. Impact Of High Inflation On the Market
4.2. Ukraine-Russia War Impact On the Market
4.3. COVID-19 Impact On the Market

5. Global Highways Market Size and Growth

5.1. Global Highways Market Drivers and Restraints
- 5.1.1. Drivers Of The Market
- 5.1.2. Restraints Of The Market
5.2. Global Highways Historic Market Size and Growth, 2018 - 2023, Value ($ Billion)
5.3. Global Highways Forecast Market Size and Growth, 2023 - 2028, 2033F, Value ($ Billion)

6. Highways Market Segmentation

6.1. Global Highways Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Road Construction And Maintenance
Highway Construction And Maintenance
6.2. Global Highways Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Hardware
Software
Service
6.3. Global Highways Market, Segmentation By Product Technolgy, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Smart Traffic Management Systems
Smart Transport Management Systems
Monitoring Systems
Communication System

7. Highways Market Regional And Country Analysis

7.1. Global Highways Market, Split By Region, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
7.2. Global Highways Market, Split By Country, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

8. Asia-Pacific Highways Market

8.1. Asia-Pacific Highways Market Overview
Region Information, Impact Of COVID-19, Market Information, Background Information, Government Initiatives, Regulations, Regulatory Bodies, Major Associations, Taxes Levied, Corporate Tax Structure, Investments, Major Companies
8.2. Asia-Pacific Highways Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8.3. Asia-Pacific Highways Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8.4. Asia-Pacific Highways Market, Segmentation By Product Technolgy, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

9. China Highways Market

9.1. China Highways Market Overview
9.2. China Highways Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
9.3. China Highways Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
9.4. China Highways Market, Segmentation By Product Technolgy, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion

10. India Highways Market

10.1. India Highways Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
10.2. India Highways Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
10.3. India Highways Market, Segmentation By Product Technolgy, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

11. Japan Highways Market

11.1. Japan Highways Market Overview
11.2. Japan Highways Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11.3. Japan Highways Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11.4. Japan Highways Market, Segmentation By Product Technolgy, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

12. Australia Highways Market

12.1. Australia Highways Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12.2. Australia Highways Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12.3. Australia Highways Market, Segmentation By Product Technolgy, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

13. Indonesia Highways Market

13.1. Indonesia Highways Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13.2. Indonesia Highways Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13.3. Indonesia Highways Market, Segmentation By Product Technolgy, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

14. South Korea Highways Market

14.1. South Korea Highways Market Overview
14.2. South Korea Highways Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14.3. South Korea Highways Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14.4. South Korea Highways Market, Segmentation By Product Technolgy, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

15. Western Europe Highways Market

15.1. Western Europe Highways Market Overview
15.2. Western Europe Highways Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15.3. Western Europe Highways Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15.4. Western Europe Highways Market, Segmentation By Product Technolgy, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

16. UK Highways Market

16.1. UK Highways Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16.2. UK Highways Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16.3. UK Highways Market, Segmentation By Product Technolgy, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

17. Germany Highways Market

17.1. Germany Highways Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
17.2. Germany Highways Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
17.3. Germany Highways Market, Segmentation By Product Technolgy, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

18. France Highways Market

18.1. France Highways Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
18.2. France Highways Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
18.3. France Highways Market, Segmentation By Product Technolgy, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

19. Italy Highways Market

19.1. Italy Highways Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
19.2. Italy Highways Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
19.3. Italy Highways Market, Segmentation By Product Technolgy, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

20. Spain Highways Market

20.1. Spain Highways Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
20.2. Spain Highways Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
20.3. Spain Highways Market, Segmentation By Product Technolgy, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

21. Eastern Europe Highways Market

21.1. Eastern Europe Highways Market Overview
21.2. Eastern Europe Highways Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
21.3. Eastern Europe Highways Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
21.4. Eastern Europe Highways Market, Segmentation By Product Technolgy, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

22. Russia Highways Market

22.1. Russia Highways Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
22.2. Russia Highways Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
22.3. Russia Highways Market, Segmentation By Product Technolgy, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

23. North America Highways Market

23.1. North America Highways Market Overview
23.2. North America Highways Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
23.3. North America Highways Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
23.4. North America Highways Market, Segmentation By Product Technolgy, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

24. USA Highways Market

24.1. USA Highways Market Overview
24.2. USA Highways Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24.3. USA Highways Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24.4. USA Highways Market, Segmentation By Product Technolgy, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

25. Canada Highways Market

25.1. Canada Highways Market Overview
25.2. Canada Highways Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25.3. Canada Highways Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25.4. Canada Highways Market, Segmentation By Product Technolgy, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

26. South America Highways Market

26.1. South America Highways Market Overview
26.2. South America Highways Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26.3. South America Highways Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26.4. South America Highways Market, Segmentation By Product Technolgy, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

27. Brazil Highways Market

27.1. Brazil Highways Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27.2. Brazil Highways Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27.3. Brazil Highways Market, Segmentation By Product Technolgy, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

28. Middle East Highways Market

28.1. Middle East Highways Market Overview
28.2. Middle East Highways Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28.3. Middle East Highways Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28.4. Middle East Highways Market, Segmentation By Product Technolgy, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

29. Africa Highways Market

29.1. Africa Highways Market Overview
29.2. Africa Highways Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29.3. Africa Highways Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29.4. Africa Highways Market, Segmentation By Product Technolgy, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

30. Highways Market Competitive Landscape And Company Profiles

30.1. Highways Market Competitive Landscape
30.2. Highways Market Company Profiles
- 30.2.1. Granite Construction Inc.
  - 30.2.1.1. Overview
  - 30.2.1.2. Products and Services
  - 30.2.1.3. Strategy
  - 30.2.1.4. Financial Performance
- 30.2.2. Fujian Expressway Development Co. Ltd.
  - 30.2.2.1. Overview
  - 30.2.2.2. Products and Services
  - 30.2.2.3. Strategy
  - 30.2.2.4. Financial Performance
- 30.2.3. Hunan Communication & Water Conservancy Group Ltd.
  - 30.2.3.1. Overview
  - 30.2.3.2. Products and Services
  - 30.2.3.3. Strategy
  - 30.2.3.4. Financial Performance
- 30.2.4. Sichuan Railway Investment Guangrun Logistics Co. Ltd.
  - 30.2.4.1. Overview
  - 30.2.4.2. Products and Services
  - 30.2.4.3. Strategy
  - 30.2.4.4. Financial Performance
- 30.2.5. IBI Group
  - 30.2.5.1. Overview
  - 30.2.5.2. Products and Services
  - 30.2.5.3. Strategy
  - 30.2.5.4. Financial Performance

31. Global Highways Market Competitive Benchmarking

32. Global Highways Market Competitive Dashboard

33. Key Mergers And Acquisitions In The Highways Market

34. Highways Market Future Outlook and Potential Analysis

34.1 Highways Market In 2028 - Countries Offering Most New Opportunities
34.2 Highways Market In 2028 - Segments Offering Most New Opportunities
34.3 Highways Market In 2028 - Growth Strategies
- 34.3.1 Market Trend Based Strategies
- 34.3.2 Competitor Strategies

35. Appendix

35.1. Abbreviations
35.2. Currencies
35.3. Historic And Forecast Inflation Rates
35.4. Research Inquiries
35.5. The Business Research Company
35.6. Copyright And Disclaimer