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The North America Road Construction and Maintenance Market size is forecast to increase by USD 68.1 billion, at a CAGR of 4.51% between 2023 and 2028. Market expansion relies on multiple variables. Firstly, investments in road infrastructure projects play a crucial role, shaping the demand for related products and services. Secondly, the increasing number of automobiles on roads contributes significantly to market growth, as it drives demand for maintenance, repair, and upgrade solutions. Additionally, the ageing highway infrastructure presents opportunities for renovation and modernization projects, road construction and maintenance, further stimulating market activity. These factors collectively underscore the dynamic nature of the market, driven by both government initiatives and consumer behavior trends. The intersection of infrastructure development, transportation trends, and the need for sustainable solutions forms the foundation for ongoing growth and innovation within the industry.
Market Forecast 2024-2028
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The market encompasses the development and upkeep of standardized road systems, including expressways and routine maintenance segments. This market prioritizes road safety through the implementation of advanced technologies such as asphalt mixes, motor graders, and smart roads. Private companies and government investments play a significant role in pavement maintenance, bridge repair, and infrastructure development projects. Economic stimulus plans and transportation policies also contribute to the market's growth. However, bureaucratic delays and required permits can hinder progress and result in delayed repairs. Data-driven maintenance practices, utilizing sensors and real-time information, are increasingly adopted to optimize budgets and improve overall efficiency. Key players in this market include concrete manufacturers and road maintenance services providers. Our researchers studied the data for years, with 2023 as the base year and 2024 as the estimated year, and presented the key drivers, trends, and challenges for the market.
The Market is experiencing growth due to substantial government investments in transportation and infrastructure development projects. Economic stimulus plans and transportation policies prioritize road safety standards, environmental sustainability, and efficiency. Infrastructure improvements include the use of technology such as drones for inspections, data-driven maintenance practices with sensors, and real-time monitoring. Delayed repairs and required permits are addressed through safety regulations and budget allocations.
Moreover, road quality and safety are key concerns, with initiatives focusing on routine maintenance, well-maintained road networks, and expressways. Private companies outsource road maintenance services, offering pavement maintenance, bridge repair, and smart roads with self-healing concrete and pothole-filling robots. Government investments in asphalt mixes, motor graders, and maintenance equipment contribute to the market's growth. This is expected to drive the growth of the North America market size during the forecast period.
The market is significantly influenced by government investments in infrastructure development projects and economic stimulus plans. Transportation policies prioritize road safety standards, road accidents and environmental sustainability, leading to initiatives such as the use of drones for delayed repairs and data-driven maintenance practices with sensors and real-time monitoring.
Moreover, budgets for road quality improvement include routine maintenance segments like asphalt mixes and motor grader services, outsourced to private companies for bridge repair and pavement maintenance. Smart roads integrate self-healing concrete and pothole-filling robots, addressing safety regulations and bureaucratic delays. Such factors are leading to an increased demand for road construction and maintenance, which is expected to drive the growth of the Market share during the forecast period.
In North America, the Market is significantly influenced by government investments in infrastructure development projects and economic stimulus plans. Transportation policies and road safety standards prioritize environmental sustainability, utilizing technologies such as drones for inspections and data-driven maintenance practices with sensors and real-time monitoring. Delayed repairs due to required permits and safety regulations can lead to inefficiencies and increased costs.
Moreover, budget constraints and the need for efficiency have led to outsourcing road maintenance services to private companies, focusing on the routine maintenance segment for well-maintained road networks. Innovations in pavement maintenance, bridge repair, and smart roads include self-healing concrete and pothole-filling robots. Such factors are expected to hinder the growth of the market during the forecast period.
The new construction segment is estimated to witness significant growth during the forecast period. The Market is projected to expand due to government investments in infrastructure development projects and economic stimulus plans. Transportation policies prioritizing road safety standards and environmental sustainability are driving market growth.
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The new construction segment was the largest and was valued at USD 125.70 billion in 2018. Technological advancements, such as drones for inspection and data-driven maintenance practices using sensors and real-time monitoring, increase efficiency and sustainability. However, bureaucratic delays, passenger vehicles, required permits, commercial vehicles and safety regulations, traffic signals can hinder progress. Routine maintenance initiatives, including budgets for road quality improvements, are essential for maintaining well-maintained road networks. Such initiatives will help in increasing the demand for new construction projects, which is expected to drive the growth of the market during the forecast period.
Based on type, the market has been segmented into highway, street, and bridge. The highway segment will account for the largest share of this segment.? The North American Market encompasses the development and upkeep of highways, including pavement, managed by federal, state, and municipal agencies. Pavement Management is a crucial aspect, ensuring the longevity of road fixtures such as asphalt and concrete. Managing agencies invest in various projects, like the four-lane widening of Highway 167 between Interstate 530 and El Dorado, to maintain and improve the infrastructure. Federal, state, and municipal governments collaborate to fund and execute these initiatives, focusing on pavement and installing necessary road fixtures. Governments of some regions have invested in the development of highways in the market. Such initiatives are expected to drive the growth of the highway segment in the market during the forecast period.
Acciona SA - The company offers services that shape the future of smart motorways and roads.
We also have detailed analyses of the market’s competitive landscape and offer information on 20 market companies, including Acciona SA, ACS Actividades de Construccion Y Servicios SA, Aecon Group Inc., Bechtel Corp., Clark Construction Group LLC, EllisDon, Ferrovial SA, Fluor Corp., Graham Management Services LP, Granite Construction Inc., GRUPO INDI SA DE CV, Kiewit Corp., Kokosing Inc., Ledcor IP Holdings Ltd., MasTec Inc., Obayashi Corp., Rieth Riley Construction Co. Inc., Skanska AB, The Walsh Group, and Tutor Perini Corp.
Technavio report provides an in-depth analysis of the market and its players through combined qualitative and quantitative data. The analysis classifies companies into categories based on their business approaches, including pure-play, category-focused, industry-focused, and diversified. Companies are specially categorized into dominant, leading, strong, tentative, and weak, based on their quantitative data analysis.
The market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD Billion" for the period 2024 to 2028, as well as historical data from 2018 to 2023 for the following segments
The market is a significant industry that involves the building and upkeep of roads, highways, and other transportation infrastructure. This market encompasses various projects, from new construction to repairs and improvements. Key players in this market include governments, construction companies, and material suppliers. The demand is driven by factors such as increasing population, urbanization, and economic growth. Additionally, the need to enhance transportation efficiency and safety contributes to the market's growth. The market landscape depends on Internet of Things (IoT) devices, roadways logistics In North America, the market is characterized by the use of advanced technologies, such as intelligent transportation systems and pavement management systems, to optimize road construction and maintenance processes. Furthermore, the market is influenced by regulatory requirements and environmental considerations, personal and beauty care leading to the adoption of sustainable materials and practices. The market is expected to continue growing due to the increasing focus on infrastructure development and the ongoing need to maintain and upgrade existing roads. This trend is particularly evident in the United States and Canada, where significant investments are being made in transportation infrastructure.
Market Scope |
|
Report Coverage |
Details |
Page number |
148 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 4.51% |
Market Growth 2024-2028 |
USD 68.1 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
3.26 |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, market report and Industry Risks |
Key companies profiled |
Acciona SA, ACS Actividades de Construccion Y Servicios SA, Aecon Group Inc., Bechtel Corp., Clark Construction Group LLC, EllisDon, Ferrovial SA, Fluor Corp., Graham Management Services LP, Granite Construction Inc., GRUPO INDI SA DE CV, Kiewit Corp., Kokosing Inc., Ledcor IP Holdings Ltd., MasTec Inc., Obayashi Corp., Rieth Riley Construction Co. Inc., Skanska AB, The Walsh Group, and Tutor Perini Corp. |
Market dynamics |
Parent market analysis, Market forecasting, market growth analysis, Market growth inducers and obstacles, market research and growth, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Market Segmentation by Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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