Highway & Road Construction Market Trends and Forecast
The future of the global highway & road construction market looks promising with opportunities in the new construction, reconstruction, and pavement construction markets. The global highway & road construction market is expected to grow with a CAGR of 6.1% from 2024 to 2030. The major drivers for this market are increasing urbanization and population growth, technological advancements in construction materials and methods enhancing efficiency and sustainability in highway projects, and rising government initiatives worldwide who are focusing on infrastructure development and transportation networks.
• Lucintel forecasts that highway is expected to witness the highest growth over the forecast period.
• Within this market, new construction is expected to witness the highest growth.
• APAC is expected to witness the highest growth over the forecast period.
Country Wise Outlook for the Highway & Road Construction Market
• United States – Government funding allocated for infrastructure upgrades, with companies like Fluor Corporation targeting advanced construction methods for highway projects.
• India – National Highways Authority sets ambitious targets for road expansion, with Larsen & Toubro focusing on technological innovations and efficient project execution.
• China – Belt and Road Initiative driving extensive road construction projects, supported by companies like China Communications Construction Company aiming to enhance connectivity and infrastructure quality.
• Germany – Government investment in sustainable transportation infrastructure, with companies such as Hochtief AG leveraging digital solutions for eco-friendly road construction and maintenance.
A more than 150-page report is developed to help in your business decisions. Sample figures with some insights are shown below.
Highway & Road Construction Market by Segment
The study includes a forecast for the global highway & road construction market by type, application, and region.
Highway & Road Construction Market by Type [Value from 2018 to 2030]:
• Highways
• Streets
• Bridges
• Others
Highway & Road Construction Market by Application [Value from 2018 to 2030]:
• New Construction
• Reconstruction
• Pavement Construction
• Others
Highway & Road Construction Market by Region [Value from 2018 to 2030]:
• North America
• Europe
• Asia Pacific
• The Rest of the World
List of Highway & Road Construction Companies
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies highway & road construction companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the highway & road construction companies profiled in this report include-
• Advantage North Services
• Caterpillar
• Ebenezer Commercial Works
• Granite Construction
• National Highways and Infrastructure Development
Recent Development in the Highway & Road Construction Market
• Bechtel: Bechtel announced the use of advanced construction techniques for a major interstate expansion project in the United States, focusing on efficiency and quality improvement.
• Larsen & Toubro: Larsen & Toubro secured contracts for highway projects in India, aiming to enhance connectivity and reduce travel time through infrastructure development.
• China Communications Construction Company (CCCC): CCCC initiated Belt and Road projects, focusing on international highway infrastructure development to promote global connectivity and economic integration.
• Vinci Construction: Vinci Construction implemented sustainable practices for autobahn renovations in Germany, aligning with EU directives for green infrastructure investments to reduce environmental impact.
Features of the Global Highway & Road Construction Market
Market Size Estimates: Highway & road construction market size estimation in terms of value ($B).
Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.
Segmentation Analysis: Highway & road construction market size by type, application, and region in terms of value ($B).
Regional Analysis: Highway & road construction market breakdown by North America, Europe, Asia Pacific, and Rest of the World.
Growth Opportunities: Analysis of growth opportunities in different types, applications, and regions for the highway & road construction market.
Strategic Analysis: This includes M&A, new product development, and competitive landscape of the highway & road construction market.
Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
FAQ
Q1. What is the growth forecast for highway & road construction market?
Answer: The global highway & road construction market is expected to grow with a CAGR of 6.1% from 2024 to 2030.
Q2. What are the major drivers influencing the growth of the highway & road construction market?
Answer: The major drivers for this market are increasing urbanization and population growth, technological advancements in construction materials and methods enhancing efficiency and sustainability in highway projects, and rising government initiatives worldwide who are focusing on infrastructure development and transportation networks.
Q3. What are the major segments for highway & road construction market?
Answer: The future of the highway & road construction market looks promising with opportunities in the new construction, reconstruction, and pavement construction markets.
Q4. Who are the key highway & road construction market companies?
Answer: Some of the key highway & road construction companies are as follows:
• Advantage North Services
• Caterpillar
• Ebenezer Commercial Works
• Granite Construction
• National Highways and Infrastructure Development
Q5. Which highway & road construction market segment will be the largest in future?
Answer: Lucintel forecasts that highway is expected to witness the highest growth over the forecast period.
Q6. In highway & road construction market, which region is expected to be the largest in next 5 years?
Answer: APAC is expected to witness the highest growth over the forecast period.
Q7. Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% customization without any additional cost.
This report answers following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the highway & road construction market by type (highways, streets, bridges, and others), application (new construction, reconstruction, pavement construction, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?
For any questions related to Highway & Road Construction Market, Highway & Road Construction Market Size, Highway & Road Construction Market Growth, Highway & Road Construction Market Analysis, Highway & Road Construction Market Report, Highway & Road Construction Market Share, Highway & Road Construction Market Trends, Highway & Road Construction Market Forecast, Highway & Road Construction Market Companies, write Lucintel analyst at email: helpdesk@lucintel.com. We will be glad to get back to you soon.