Roads And Highways Market Size and Forecast 2024-2033|China Communications Construction Company Ltd., Vinci SA, Bouygues SA, ACS Group, CRH PLC

The Roads And Highways Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

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According to The Business Research Company’s Roads And Highways Global Market Report 2024, The roads and highways market size has grown steadily in recent years. It will grow from $706.07 billion in 2023 to $737.05 billion in 2024 at a compound annual growth rate (CAGR) of 4.4%. The growth in the historic period can be attributed to urbanization and population growth, economic development, tourism and travel trends, trade and commerce expansion, population mobility.

The roads and highways market size is expected to see steady growth in the next few years. It will grow to $887.16 billion in 2028 at a compound annual growth rate (CAGR) of 4.7%. The growth in the forecast period can be attributed to smart transportation solutions, sustainable and green infrastructure, infrastructure resilience, adoption of electric vehicles (EVs), integration of autonomous vehicles. Major trends in the forecast period include public-private partnerships (PPPs), smart infrastructure and technology integration, focus on sustainable and eco-friendly practices, adoption of advanced materials, emphasis on safety measures.

The increasing production of vehicles is expected to propel the growth of the roads and highways market going forward. The term vehicle production refers to the mass manufacturing of identical models that are offered for sale to the public. Most of the drivers prefer traveling on highways, as they are the long, straight roadways that connect places with one another, making it simpler to travel on them. Moreover, highway travel allows for fuel savings because it shortens the distance between cities. For instance, in March 2022, according to a report published by the European Automobile Manufacturers’ Association (ACEA), a Belgium-based main lobbying and standards group for the automobile industry in the European Union, sales of passenger cars in the US increased by 5.5% from 2020 to 11.9 million units in 2021. Over 6.3 million passenger cars were produced in US auto facilities in 2021, an increase of 3.1% from 2020. Chinese automakers produced 20.7 million vehicles in 2021, an increase of 7.1%. In 2021, the total number of cars produced worldwide climbed by 2.7% to 63.2 million. Therefore, the increasing production of vehicles is driving the growth of the roads and highways market.

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The roads and highways market covered in this report is segmented –

1) By Product Types: Road construction and maintenance, Highway construction and maintenance

2) By Technology: Intelligent transport management system, Intelligent traffic management system, Communication system, Monitoring System, Other Technologies

3) By End Use: First-class roads, Substandard roads, Highways, Second-class roads, Third-class roads

Major companies operating in the roads and highways market are focusing on innovative products such as universal-class pavers to better meet the needs of their existing consumers. A Universal Class Paver is a type of road paver that is noted for its versatility and wide variety of uses. These pavers are built to handle a variety of road-building and paving activities, making them suited for a wide range of applications. For instance, in May 2023, VOGELE, a Germany-based manufacturing company of road paving equipment, launched the SUPER 1880 L. The SUPER 1880 L from Vogele is a low-cost, extremely robust tracked paver designed for paving water-bound substances and asphalt mixtures. Additionally, with a maximum pave width of 9.5 m, the SUPER 1880 L is an excellent choice for highway and rural road projects. The paver is available at emission levels 3 and below. The Vögele SUPER 1880 L’s sturdy structure is suited for paving cold, coarse substances and is also appropriate for paving hot asphalt layers. The versatile SUPER 1880 L stands out for its versatility, making it suitable for several paving applications, including highways, A roads, and B roads.

The roads and highways market report table of contents includes:

1. Executive Summary

2. Roads And Highways Market Characteristics

3. Roads And Highways Market Trends And Strategies

4. Roads And Highways Market – Macro Economic Scenario

5. Global Roads And Highways Market Size and Growth

26. South America Roads And Highways Market

27. Brazil Roads And Highways Market

28. Middle East Roads And Highways Market

29. Africa Roads And Highways Market

30. Roads And Highways Market Competitive Landscape And Company Profiles

Top Major Players: