Road Construction Service Market Trends and Forecast
The future of the global road construction service market looks promising with opportunities in the transportation, commercial residential, and stadium markets. The global road construction service market is expected to grow with a CAGR of 6.3% from 2024 to 2030. The major drivers for this market are rising demand for improved transportation networks and growing investments in infrastructure projects.
• Lucintel forecasts that freeway is expected to witness the highest growth over the forecast period.
• Within this market, transportation is expected to witness the highest growth.
• APAC is expected to witness the highest growth over the forecast period.
Country Wise Outlook for the Road Construction Service Market
• United States: The Biden administration announced a $1 trillion infrastructure plan, with major projects led by companies like Granite Construction and Bechtel.
• India: The National Highways Authority of India (NHAI) awarded contracts to Larsen & Toubro for the construction of several highway projects, aiming to enhance national connectivity.
• China: The government launched new road construction projects under the Belt and Road Initiative, with China State Construction Engineering Corporation playing a key role.
• Germany: Hochtief AG announced new contracts for highway expansion projects, supported by the government’s increased infrastructure spending to improve transport networks.
A more than 150-page report is developed to help in your business decisions. Sample figures with some insights are shown below.
Road Construction Service Market by Segment
The study includes a forecast for the global road construction service market by type, application, and region.
Road Construction Service Market by Type [Value from 2018 to 2030]:
• Freeway
• Main Road
• Secondary Road
• Branch Road
Road Construction Service Market by Application [Value from 2018 to 2030]:
• Transportation
• Commercial Residential
• Stadium
• Others
Road Construction Service Market by Region [Value from 2018 to 2030]:
• North America
• Europe
• Asia Pacific
• The Rest of the World
List of Road Construction Service 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 road construction service companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the road construction service companies profiled in this report include-
• SGS
• Siluno Group
• The Dow Company
• AFCONS Infrastructure
• Dilip Buildcon
• Granite Construction
• Kiewit Corporation
• The Lane Construction Corporation
• Tata Projects
• Dufferin Construction
Recent Development in the Road Construction Service Market
• Granite Construction: Secured a $1.3 billion contract for the expansion of Interstate 5 in California, part of the U.S. governmentÄX%$%Xs infrastructure plan.
• Bechtel: Announced the initiation of a major highway project in Texas, aimed at reducing congestion and improving traffic flow, supported by federal infrastructure funds.
• Larsen & Toubro: Awarded multiple contracts by the National Highways Authority of India (NHAI) for the construction of new highways, enhancing connectivity and supporting economic growth.
• Strabag SE: Commenced a major road construction project in Austria, aimed at enhancing the national transport network and reducing travel time between major cities.
• VINCI Construction: Engaged in the construction of a new expressway in France, targeting improved regional connectivity and supported by government infrastructure investment.
Features of the Global Road Construction Service Market
Market Size Estimates: Road construction service market size estimation in terms of value ($B).
Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.
Segmentation Analysis: Road construction service market size by type, application, and region in terms of value ($B).
Regional Analysis: Road construction service 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 road construction service market.
Strategic Analysis: This includes M&A, new product development, and competitive landscape of the road construction service market.
Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
FAQ
Q1. What is the growth forecast for road construction service market?
Answer: The global road construction service market is expected to grow with a CAGR of 6.3% from 2024 to 2030.
Q2. What are the major drivers influencing the growth of the road construction service market?
Answer: The major drivers for this market are rising demand for improved transportation networks and growing investments in infrastructure projects.
Q3. What are the major segments for road construction service market?
Answer: The future of the road construction service market looks promising with opportunities in the transportation, commercial residential, and stadium markets.
Q4. Who are the key road construction service market companies?
Answer: Some of the key road construction service companies are as follows:
• SGS
• Siluno Group
• The Dow Company
• AFCONS Infrastructure
• Dilip Buildcon
• Granite Construction
• Kiewit Corporation
• The Lane Construction Corporation
• Tata Projects
• Dufferin Construction
Q5. Which road construction service market segment will be the largest in future?
Answer: Lucintel forecasts that freeway is expected to witness the highest growth over the forecast period.
Q6. In road construction service 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 road construction service market by type (freeway, main road, secondary road, and branch road), application (transportation, commercial residential, stadium, 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?
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