Bridges are critical infrastructure elements that connect disparate points across physical obstacles like rivers, valleys, roads or railway tracks, facilitating the smooth flow of traffic and enhancing connectivity. They serve an essential purpose in modern transportation networks, enabling the movement of people, goods and services.
The bridges market consists of revenues earned by entities (organizations, sole traders and partnerships) by the construction of bridges, to provide a stable and safe pathway across the obstacles, enabling the passage of people, vehicles or materials over them.
The global bridges market was valued at $86,128.1 million in 2018 which grew till 2023 at a compound annual growth rate (CAGR) of more than 5.0%.
Growth In Tourism And Recreational Activities
The growth in tourism and recreational activities drove the growth of the bridges market during the historic period. As more people sought out leisure destinations, there was a growing need for infrastructure development, including bridges, to facilitate access to these sites. Whether spanning rivers, valleys or other geographical barriers, bridges played a crucial role in connecting tourists to diverse attractions, enhancing accessibility and convenience. Additionally, the expansion of recreational activities such as hiking, camping and sightseeing necessitated the construction of bridges to enable safe passage over various terrains, thereby stimulating demand within the market. For instance, according to UN Tourism, a Spain-based intergovernmental organization, travel to other countries increased significantly in 2022, driving international tourist receipts to USD 1 trillion, a real growth of 50% from 2021. Therefore, the growth in tourism and recreational activities drove the growth of the bridges market.
Using Bridge Inspection Applications For Efficient Infrastructure Management
Companies operating in the bridges market are focusing on using bridge inspection applications to streamline the process of inspecting and maintaining bridges by digitizing and automating various tasks. Bridge inspection applications refers to specialized software applications that are designed to facilitate the inspection, evaluation and management of bridges and other infrastructure assets. It allows inspectors to collect data, document findings and prioritize maintenance needs in a more organized and efficient manner. For instance, in December 2023, Axess Digital d.o.o., a Norway-based software company, launched a new tool, called 3DView in Bridge (an inspection program), to facilitate the sharing and collaboration of 3D models, without requiring specialized hardware or software. This facilitates inspections, result reporting, assessments and future maintenance planning. The application also creates detailed maps of the infrastructure network, displaying crucial data on defective values and other parameters. Territorial-level alerts enable continuous monitoring, ensuring prompt intervention to prevent potential issues.
The global bridges market is fairly concentrated, with large players operating in the market. The top ten competitors in the market made up to 35.71% of the total market in 2022.
Bridges Global Market Opportunities And Strategies To 2033 from The Business Research Company provides the strategists; marketers and senior management with the critical information they need to assess the global bridges market as it emerges from the COVID-19 shut down.
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Where is the largest and fastest-growing market for bridges? How does the market relate to the overall economy; demography and other similar markets? What forces will shape the market going forward? The bridges 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 history and forecasts market growth by geography. It places the market within the context of the wider bridges market; and compares it with other markets.
The report covers the following chapters
- Introduction and Market Characteristics- Brief introduction to the segmentations covered in the market, definitions and explanations about the segment by type, by material and by application.
- Key Trends- Highlights the major trends shaping the global market. This section also highlights likely future developments in the market.
- Macro-Economic Scenario- The report provides an analysis of the impact of the COVID-19 pandemic, impact of the Russia-Ukraine war and impact of rising inflation on global and regional markets, providing strategic insights for businesses in the bridges market.
- Global Market Size And Growth- Global historic (2018-2023) and forecast (2023-2028, 2033F) market values and drivers and restraints that support and control the growth of the market in the historic and forecast periods.
- Regional And Country Analysis- Historic (2018-2023) and forecast (2023-2028, 2033F) market values and growth and market share comparison by region and country.
- Market Segmentation- Contains the market values (2018-2023) (2023-2028, 2033F) and analysis for each segment by type, by material and by application in the market. Historic (2018-2023) and forecast (2023-2028) and (2028-2033) market values and growth and market share comparison by region market.
- Regional Market Size and Growth- Regional market size (2023), historic (2018-2023) and forecast (2023-2028, 2033F) market values and growth and market share comparison of countries within the region. This report includes information on all the regions Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa and major countries within each region.
- Competitive Landscape- Details on the competitive landscape of the market, estimated market shares and company profiles of the leading players.
- Competitive Benchmarking- Briefs on the financials comparison between major players in the market.
- Competitive Dashboard- Briefs on competitive dashboard of major players.
- Key Mergers and Acquisitions- Information on recent mergers and acquisitions in the market covered in the report. This section gives key financial details of mergers and acquisitions, which have shaped the market in recent years.
- Market Opportunities And Strategies- Describes market opportunities and strategies based on findings of the research, with information on growth opportunities across countries, segments and strategies to be followed in those markets.
- Conclusions And Recommendations- This section includes recommendations for bridges providers in terms of product/service offerings geographic expansion, marketing strategies and target groups.
- Appendix- This section includes details on the NAICS codes covered, abbreviations and currencies codes used in this report.
Markets Covered:
- 1) By Type: Beam Bridge; Truss Bridge; Arch Bridge; Suspension Bridge; Cable-Stayed Bridge; Other Bridges
- 2) By Material: Steel; Concrete; Composite Material
- 3) By Application: Road; Highway; Railway
- Companies Mentioned: China Communications Construction Company Limited; China Railway Group Limited; VINCI S.A.; Hochtief Aktiengesellschaft; ACS Actividades de Construccion y Servicios S.A.
- Countries: China; Australia; India; Indonesia; Japan; South Korea; USA; Canada; Brazil; France; Germany; Italy; Spain; UK; Russia.
- 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; bridges indicators comparison.
- 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.