PUBLISHER: The Business Research Company | PRODUCT CODE: 1484886
PUBLISHER: The Business Research Company | PRODUCT CODE: 1484886
Transportation infrastructure construction encompasses the strategic planning, design, and execution of physical structures and systems to enable the seamless movement of people, goods, and vehicles. Its primary objective is to develop robust and dependable transportation networks that foster economic growth, bolster mobility, and foster connectivity among communities on local, national, and global scales.
The key categories within transportation infrastructure include roads, highways, bridges, railways, metros, sea ports, and airports. These elements collectively underpin land-based transportation networks, facilitating efficient movement across urban and rural areas. Construction activities encompass new builds, repairs, and ongoing maintenance, catering to diverse urban and rural needs.
The transportation infrastructure market research report is one of a series of new reports from The Business Research Company that provides transportation infrastructure market statistics, including transportation infrastructure industry global market size, regional shares, competitors with transportation infrastructure market share, detailed transportation infrastructure market segments, market trends, and opportunities, and any further data you may need to thrive in the transportation infrastructure industry. This transportation infrastructure market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The transportation infrastructure construction market size has grown steadily in recent years. It will grow from $3,240.16 billion in 2023 to $3,398.27 billion in 2024 at a compound annual growth rate (CAGR) of 4.9%. The expansion observed during the historical period can be attributed to several factors including population growth, urbanization, aging infrastructure, government investment, technological advancements, and environmental regulations.
The transportation infrastructure construction market size is expected to see strong growth in the next few years. It will grow to $4,180.46 billion in 2028 at a compound annual growth rate (CAGR) of 5.3%. The anticipated growth in the forecast period can be linked to various factors such as the implementation of smart transportation systems, the integration of renewable energy, adaptation to climate change, the fostering of public-private partnerships (PPPs), and the advancement of digitalization and automation. Noteworthy trends expected in this period comprise the development of sustainable infrastructure, the establishment of multimodal transportation hubs, the promotion of resilient infrastructure, the adoption of data-driven decision-making processes, and the utilization of modular construction techniques.
The burgeoning tourism industry is poised to serve as a significant driver propelling the growth of the transportation infrastructure construction market in the foreseeable future. The tourism industry, encompassing various activities, services, and infrastructure facilitating travel and leisure experiences, is experiencing growth attributed to factors such as increased disposable income, enhanced accessibility to travel, and a burgeoning interest in cultural exploration and leisure experiences. Tourism destinations often necessitate well-developed road networks to provide seamless access to attractions, accommodations, and amenities. Governments and transportation authorities recognize the importance of investing in the construction and enhancement of roads and highways to bolster tourism activities, foster connectivity between destinations, and stimulate economic development in tourist-centric areas. For instance, data from the Office for National Statistics in March 2024 indicates a notable increase in international visits to the UK, with 3.0 million visits recorded in June 2022, compared to 2.8 million visits in May 2022. This underscores the pivotal role of the growing tourism industry in driving the expansion of the transportation infrastructure construction market.
Key players within the transportation infrastructure construction market are strategically embracing partnerships to bolster project execution capabilities and foster innovation. Strategic partnerships entail companies leveraging each other's strengths and resources to attain mutual benefits and drive success. For instance, in September 2023, Ferrovial, a prominent Finland-based company specializing in construction and maintenance services for electrical technical services, forged a partnership with the Georgia Institute of Technology, a leading research university and institute of technology based in Georgia. Through this collaboration, Ferrovial aims to spearhead advanced innovations in transport infrastructure, facilitating joint research endeavors, offering new educational and developmental opportunities for students, and paving the way for Ferrovial to contribute towards a more sustainable future for mobility. By harnessing the collective expertise and resources of strategic partnerships, companies within the transportation infrastructure construction sector can accelerate progress, drive innovation, and deliver impactful solutions to address evolving industry challenges and opportunities.
In January 2022, Bureau Veritas, a renowned France-based certification provider for EDGE (Excellence in Design for Greater Efficiencies) green building, completed the acquisition of PreScience for an undisclosed sum. This strategic move is expected to enhance Bureau Veritas' existing service offerings in North America within the buildings and infrastructure sector. Moreover, the expansion aligns with BV Green Line, a suite of sustainability-focused services and solutions. PreScience, headquartered in the US, specializes in providing project and construction management services for transportation infrastructure.
Major companies operating in the transportation infrastructure construction market are China Communications Construction Company, Vinci SA, CK Hutchison Holdings, CRH plc, Hochtief AG, Bechtel Corporation, Colas Group, Fluor Corporation, Bouygues Construction SA, Larsen & Toubro Limited, AECOM, Kiewit Corporation, Balfour Beatty plc, Laing O'Rourke, Jacobs Engineering Group Inc., TATA Projects, KEC International Limited, Hindustan Construction Company Limited, Globalvia Inversiones S.A., Megha Engineering & Infrastructures Limited, ACS Group of Companies LLC, Beijing Urban Construction Group, Eagle Infra India Ltd, IRB Infrastructure Developers Ltd
Asia Pacific was the largest region in the transportation infrastructure construction market in 2023. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the transportation infrastructure construction market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the transportation infrastructure construction market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The transportation infrastructure construction market consist revenues earned by providing services such as planning, design, road and bridge building, railway construction, airport expansion, and port development. The market value includes the value of related goods sold by the service provider or included within the service offering. The transportation infrastructure construction market also includes of sales of motor graders, road rollers, asphalt mixing plants, forklift trucks, and excavators. 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.
Transportation Infrastructure Construction 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 transportation infrastructure construction 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.
Where is the largest and fastest growing market for transportation infrastructure construction ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The transportation infrastructure construction 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.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.