Bridges And Tunnels Market Forecast 2024-2033: Growth Rate, Drivers, And Trends|China State Construction Engineering Corporation Limited, China Railway Construction Corporation Limited, China Communications Construction Company Limited, Bouygues S.A., Hochtief AG

The Bridges And Tunnels 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 Bridges And Tunnels Global Market Report 2024, The bridges and tunnels market size has grown strongly in recent years. It will grow from $144.19 billion in 2023 to $152.99 billion in 2024 at a compound annual growth rate (CAGR) of 6.1%. The growth in the historic period can be attributed to urbanization, population growth, maintenance and upgrades, environmental regulations, economic development.

The bridges and tunnels market size is expected to see strong growth in the next few years. It will grow to $195.91 billion in 2028 at a compound annual growth rate (CAGR) of 6.4%. The growth in the forecast period can be attributed to smart infrastructure, sustainable practices, urban planning initiatives, resilience and climate change adaptation, public-private partnerships. Major trends in the forecast period include digitalization and BIM, technological integration for safety, technological advancements, digital twin technology, advanced materials and construction techniques.

The increasing number of automobiles on roads is expected to propel the growth of the bridges and tunnels market going forward. An automobile is a four-wheeled vehicle powered by an internal combustion engine. It is commonly known as a car and is among the most popular modes of transportation. Automobiles are typically transported via bridges and tunnels. Automobiles drive across rivers and through tunnels and bridges to avoid traffic and cross valleys; it makes the journey easy and safe. For instance, in March 2022, according to a report published by the European Automobile Manufacturers’ Association (ACEA), the 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 number of automobiles on roads is driving the growth of the bridges and tunnels market.

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The bridges and tunnels market covered in this report is segmented –

1) By Type: Tunnel, Bridge
2) By Material: Steel, Concrete, Composite Material
3) By Application: Commercial, Government

Major companies operating in the bridges and tunnels market are focusing on advanced solution, such as circular 3D-printed concrete bridges, to meet evolving infrastructure demands. A circular 3D-printed concrete bridge is an innovative infrastructure solution created using advanced printing technology to enhance structural efficiency and design flexibility. For instance, in December 2023, Holcim, a Switzerland-based building material manufacturing company, launched Phoenix, the first-of-its-kind circular 3D-printed concrete bridge This innovative structure was created utilizing Holcim’s exclusive ECOCycle circular technology and a specially formulated concrete ink containing recycled materials. The circular construction, facilitated by computational design and 3D printing techniques, enables a remarkable 50% reduction in material usage without sacrificing performance.

The bridges and tunnels market report table of contents includes: