The global bridge construction market reached $1,138.4 billion in 2023 and is projected to grow at a CAGR of 4.4% during 2024-2032, reaching $1,691.5 billion by 2032. The growth of the bridge construction industry is driven by increasing infrastructure development initiatives, technological advancements in construction, and economic growth and urbanization. The market is segmented by type, including beam bridge, truss bridge, arch bridge, suspension bridge, cable-stayed bridge, and others. The market is also segmented by material, including steel, concrete, and composite materials. Additionally, the market is segmented by application, including road and highway, and railway. The key players in the market include AECOM, Balfour Beatty plc, Bouygues S.A., China Communications Construction Company Limited, China State Construction Engineering Corporation, Fluor Corporation, Kiewit Corporation, Samsung C&T Corporation, Strabag SE, and Vinci SA. [4fe31df4]
The global construction market was worth $14.39 trillion in 2022 and is expected to reach $25.93 trillion by 2027 [5111ab68]. The US construction industry has over 919,000 establishments and generates $2.1 trillion worth of structures annually. In January 2024, US construction spending reached $2.1 trillion, with a decline of 0.2% from December. The residential sector saw a 0.2% increase, while the public sector experienced a 0.9% decline [5111ab68]. Major players in the global construction market include Vinci SA, Lennar Corporation, and Ferrovial SE. Vinci SA won a railway contract worth €700 million, Lennar Corporation opened a new medley club in Florida, and Ferrovial SE completed the construction of the Halo elevator in Spain [5111ab68]. The 20 largest construction companies in the world include Skanska AB, Daito Trust Construction Co., Ltd., HOCHTIEF Aktiengesellschaft, Obayashi Corporation, DPR Construction, Kajima Corporation, Eiffage SA, ACS Actividades De Construccion Y Servicios ADR, Toll Brothers, Inc., Kiewit Corporation, China Railway Construction, Sekisui House, Ltd., Bouygues SA, Daiwa House Industry Co., Ltd., and PulteGroup, Inc. [5111ab68]
The global market for Steel Rebars is projected to reach a size of US$357.1 Billion by 2030, growing at a CAGR of 4% over the analysis period 2023-2030. Deformed Steel Rebars is projected to reach US$266.2 Billion by the end of the analysis period. The Steel Rebars market in the U.S. is estimated at US$8.9 Billion in 2023. China is forecast to reach a market size of US$172.7 Billion by 2030 with a CAGR of 4.6%. Other noteworthy markets include Japan and Canada, each forecast to grow at 2.3% and 3% respectively over the 2023-2030 period. Germany is forecast to grow at approximately 2.6% CAGR within Europe. The report provides insights from domain experts and influencers in the industry. [d7e1844d]