Highway and road construction market is anticipated to grow at a CAGR of 7.9% during the forecast period (2023-2030). Improving transportation efficiency and safety is a key driving factor for highway and road construction. Government and transportation authority’s invest in constructing new highways and roads equipped with modern technologies to enhance traffic flow congestion and increase safety for commuters. For instance, in April 2020, Bharat Petroleum Corp. Ltd. and Noida Authority launched the pilot project for the first road construction in India using the plastic waste module. A 500-meter-long road parallel to Noida-Greater Expressway was constructed in Sector 129, using 35 metric tons of plastic waste. Various other countries are also adopting advanced technologies for highway and road construction. For Instance, in January 2022, Blue Climate Deutschland GmbH, a German-based infrastructure development Company assisted it in addressing some of these crucial road situations with a specific focus on rural counties. Blue Climate Deutschland is credited for using its new technology, UNDERBOLD-POD30 which is the mixture of the existing soil, cement, and a manufactured organic liquid with the machine used to compress the mixture.
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The global highway and road construction market is segmented by type and construction. Based on the type, the market is sub-segmented into highways, streets, bridges, and others. Based on the construction type, the market is sub-segmented into new construction, reconstruction, pavement construction, and others. Among the construction type, the new construction sub-segment is anticipated to hold a considerable share of the market owing to the rise in the development of engaging and innovative technologies. The construction industry’s constantly evolving due to advancements in technology have a significant impact on the way construction projects are planned, designed, and executed.
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- Market Coverage
- Market number available for – 2023-2029
- Base year- 2022
- Forecast period- 2023-2029
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Global Highway and Road Construction Market Report Segment
By Type
- Highway
- Street
- Bridge
- Others (Tunnels)
By Construction Type
- New Construction
- Reconstruction
- Pavement construction
- Others (Repair/ Renovations)
Global Highway and Road Construction Market Report Segment by Region
North America
- United States
- Canada
Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
Rest of the World
- Latin America
- Middle East & Africa
The Report Covers
- Market value data analysis of 2022 and forecast to 2030.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global highway and road construction market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
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