North America - Road Construction and Maintenance Market by Application and Type - Forecast and Analysis 2024-2028
| Published: Nov 2023 | Pages: 148 | SKU: IRTNTR75160 |
North America - Road Construction and Maintenance Market 2024-2028
The North America - Road Construction and Maintenance Market size is estimated to grow at a CAGR of 4.51% between 2023 and 2028. The market size is forecast to increase by USD 68.1 billion. The growth of the market depends on several factors such as investments in road infrastructure projects, growth in the number of automobiles on roads and ageing highway infrastructure.
The Road Construction and Maintenance Market analysis report includes a comprehensive outlook on the North America - road construction and maintenance market offering forecasts for the industry segmented by Application, which comprises new construction, reconstruction, and repair. Additionally, it categorizes Types into highway, street, and bridge. The report provides market size, historical data spanning from 2018 to 2022, and future projections, all presented in terms of value in USD billion for each of the mentioned segments.
Road Construction and Maintenance Market Trends and Analysis
Road Construction and Maintenance Market in North America Forecast 2024-2028
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North America road construction and maintenance market Dynamic
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.
Driver - Investments in road infrastructure projects
The development of new roads and the increasing investments in transportation and highway infrastructure projects are driving the North America - road construction and maintenance market. US, Canada, and Mexico are the key countries investing heavily in road/highway infrastructure projects. For instance, in April 2021, US lawmakers approved a USD 1 trillion investment, under which USD 110 billion has been provided to repair the nation's aging highways, bridges, and roads.
Moreover, investments in large-scale highway projects are likely to increase the North America - road construction and maintenance market demand. This is expected to drive the growth of the North America road construction and maintenance market size during the forecast period.
Trends- Increasing incidence of road accidents
A major number of road traffic accidents occur because of human mistakes, such as overspeeding, drunk driving, and noncompliance and adherence to traffic rules. Furthermore, poor infrastructure facilities are the main causes of road accidents. A recent study conducted in 2021 by the International Transport Forum (ITF) estimated that nearly 1.3-1.5 million deaths occur due to road crashes across the globe every year. In a report released in 2021 by ITF, the highest number of road accidents was witnessed in the US.
For instance, according to the CDC, road traffic crashes are a leading cause of death in the US for people ages 1-54 which can have a positive impact on North America - road construction & maintenance market growth. Such factors are leading to an increased demand for road construction and maintenance, which is expected to drive the growth of the Road Construction and Maintenance Market share during the forecast period.
Challenge- Lack of workforce in the construction industry
There is a shortage of workforce in several industries, including construction. According to Associated Builders and Contractors, the construction industry will need to attract an estimated 546,000 additional workers of hiring in 2023 to meet the demand for labor. In these industries (construction), the demand for both skilled and unskilled is high. This shortage is more prominent in the case of skilled workers, as companies in the construction industry are not able to find enough skilled workforce to carry out their operations.
However, despite the growing demand for construction, companies need to turn down new orders owing to the lack of a skilled workforce which can restrict North America - road construction & maintenance market growth. Such factors are expected to hinder the growth of the market during the forecast period.
North America road construction and maintenance market Segmentation by Application and Type
Application Segment Analysis:
The new construction segment is estimated to witness significant growth during the forecast period. The new construction segment in the North America - road construction and maintenance market is expected to witness steady growth in terms of market share. This is due to the rise in the number of vehicles, including passenger vehicles and commercial vehicles, and increasing investment in road infrastructure
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The new construction segment was the largest and was valued at USD 125.70 billion in 2018. The construction industry is expected to grow at a steady pace, aided by the expansion of road infrastructure. For instance, the Kicking Horse Canyon Upgrade project involves renovating and upgrading the 26km section of the Trans-Canada Highway to a modern, four-lane standard from Highway 95 at Golden Junction to the Western boundary of Yoho National Park in British Columbia, Canada. The construction work commenced in Q4 2021 and is expected to finish in Q1 2024. The aim of the project is to cater to the growing transportation needs of the public of Golden which have a positive influence on the growth of the North America - road construction & maintenance market. 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.
Type Segment Analysis:
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.? Any public or private road or another public way on land is considered a highway. A fully controlled-access highway allows for uninterrupted traffic flow, with no traffic signals, intersections, or property access. Governments of some regions have invested in the development of highways in the road construction and maintenance market in North America. Such initiatives are expected to drive the growth of the highway segment in the North America road construction and maintenance market during the forecast period.
Who are the Major North America road construction and maintenance market Companies?
Acciona SA - The company offers road construction and maintenance 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.
Segment Overview
The North America road construction and maintenance market report forecasts market growth by revenue and provides an analysis of the latest trends and growth opportunities from 2018 to 2028.
- Application Outlook
- New construction
- Reconstruction
- Repair
- Type Outlook
- Highway
- Street
- Bridge
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Road Construction And Maintenance Market In North America Scope |
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Report Coverage |
Details |
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Page number |
148 |
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Base year |
2023 |
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Historic period |
2018-2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 4.51% |
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Market Growth 2024-2028 |
USD 68.1 billion |
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Market structure |
Fragmented |
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YoY growth 2023-2024(%) |
3.26 |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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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. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, 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. |
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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. |
What are the Key Data Covered in this North America road construction and maintenance market Research Report?
- CAGR of the market during the forecast period
- Detailed information on factors that will drive the growth of the North America road construction and maintenance market between 2024 and 2028
- Precise estimation of the North America road construction and maintenance market size and its contribution to the market in focus on the parent market
- Accurate predictions about upcoming trends and changes in consumer behavior
- Growth of the market across North America
- A thorough analysis of the market’s competitive landscape and detailed information about companies
- Comprehensive analysis of factors that will challenge the growth of North America road construction and maintenance market companies
We can help! Our analysts can customize this market research report to meet your requirements. Get in touch
1 Executive Summary
- 1.1 Market overview
- Exhibit 01: Executive Summary – Chart on Market Overview
- Exhibit 02: Executive Summary – Data Table on Market Overview
- Exhibit 03: Executive Summary – Chart on Country Market Characteristics
- Exhibit 04: Executive Summary – Chart on Market by Geography
- Exhibit 05: Executive Summary – Chart on Market Segmentation by Application
- Exhibit 06: Executive Summary – Chart on Market Segmentation by Type
- Exhibit 07: Executive Summary – Chart on Incremental Growth
- Exhibit 08: Executive Summary – Data Table on Incremental Growth
- Exhibit 09: Executive Summary – Chart on Vendor Market Positioning
2 Market Landscape
- 2.1 Market ecosystem
- Exhibit 10: Parent market
- Exhibit 11: Market Characteristics
3 Market Sizing
- 3.1 Market definition
- Exhibit 12: Offerings of vendors included in the market definition
- 3.2 Market segment analysis
- Exhibit 13: Market segments
- 3.3 Market size 2023
- 3.4 Market outlook: Forecast for 2023-2028
- Exhibit 14: Chart on North America - Market size and forecast 2023-2028 ($ billion)
- Exhibit 15: Data Table on Regional - Market size and forecast 2023-2028 ($ billion)
- Exhibit 16: Chart on North America: Year-over-year growth 2023-2028 (%)
- Exhibit 17: Data Table on Regional - Market size and forecast 2023-2028 ($ billion)
4 Historic Market Size
- 4.1 Road construction and maintenance market in North America 2018 - 2022
- Exhibit 18: Historic Market Size – Data Table on road construction and maintenance market in north America 2018 - 2022 ($ billion)
- 4.2 Application Segment Analysis 2018 - 2022
- Exhibit 19: Historic Market Size – Application Segment 2018 - 2022 ($ billion)
- 4.3 Type Segment Analysis 2018 - 2022
- Exhibit 20: Historic Market Size – Type Segment 2018 - 2022 ($ billion)
- 4.4 Geography Segment Analysis 2018 - 2022
- Exhibit 21: Historic Market Size – Geography Segment 2018 - 2022 ($ billion)
5 Five Forces Analysis
- 5.1 Five forces summary
- Exhibit 22: Five forces analysis - Comparison between 2023 and 2028
- 5.2 Bargaining power of buyers
- Exhibit 23: Chart on Bargaining power of buyers – Impact of key factors 2023 and 2028
- 5.3 Bargaining power of suppliers
- Exhibit 24: Bargaining power of suppliers – Impact of key factors in 2023 and 2028
- 5.4 Threat of new entrants
- Exhibit 25: Threat of new entrants – Impact of key factors in 2023 and 2028
- 5.5 Threat of substitutes
- Exhibit 26: Threat of substitutes – Impact of key factors in 2023 and 2028
- 5.6 Threat of rivalry
- Exhibit 27: Threat of rivalry – Impact of key factors in 2023 and 2028
- 5.7 Market condition
- Exhibit 28: Chart on Market condition - Five forces 2023 and 2028
6 Market Segmentation by Application
- 6.1 Market segments
- Exhibit 29: Chart on Application - Market share 2023-2028 (%)
- Exhibit 30: Data Table on Application - Market share 2023-2028 (%)
- 6.2 Comparison by Application
- Exhibit 31: Chart on Comparison by Application
- Exhibit 32: Data Table on Comparison by Application
- 6.3 New construction - Market size and forecast 2023-2028
- Exhibit 33: Chart on New construction - Market size and forecast 2023-2028 ($ billion)
- Exhibit 34: Data Table on New construction - Market size and forecast 2023-2028 ($ billion)
- Exhibit 35: Chart on New construction - Year-over-year growth 2023-2028 (%)
- Exhibit 36: Data Table on New construction - Year-over-year growth 2023-2028 (%)
- 6.4 Reconstruction - Market size and forecast 2023-2028
- Exhibit 37: Chart on Reconstruction - Market size and forecast 2023-2028 ($ billion)
- Exhibit 38: Data Table on Reconstruction - Market size and forecast 2023-2028 ($ billion)
- Exhibit 39: Chart on Reconstruction - Year-over-year growth 2023-2028 (%)
- Exhibit 40: Data Table on Reconstruction - Year-over-year growth 2023-2028 (%)
- 6.5 Repair - Market size and forecast 2023-2028
- Exhibit 41: Chart on Repair - Market size and forecast 2023-2028 ($ billion)
- Exhibit 42: Data Table on Repair - Market size and forecast 2023-2028 ($ billion)
- Exhibit 43: Chart on Repair - Year-over-year growth 2023-2028 (%)
- Exhibit 44: Data Table on Repair - Year-over-year growth 2023-2028 (%)
- 6.6 Market opportunity by Application
- Exhibit 45: Market opportunity by Application ($ billion)
- Exhibit 46: Data Table on Market opportunity by Application ($ billion)
7 Market Segmentation by Type
- 7.1 Market segments
- Exhibit 47: Chart on Type - Market share 2023-2028 (%)
- Exhibit 48: Data Table on Type - Market share 2023-2028 (%)
- 7.2 Comparison by Type
- Exhibit 49: Chart on Comparison by Type
- Exhibit 50: Data Table on Comparison by Type
- 7.3 Highway - Market size and forecast 2023-2028
- Exhibit 51: Chart on Highway - Market size and forecast 2023-2028 ($ billion)
- Exhibit 52: Data Table on Highway - Market size and forecast 2023-2028 ($ billion)
- Exhibit 53: Chart on Highway - Year-over-year growth 2023-2028 (%)
- Exhibit 54: Data Table on Highway - Year-over-year growth 2023-2028 (%)
- 7.4 Street - Market size and forecast 2023-2028
- Exhibit 55: Chart on Street - Market size and forecast 2023-2028 ($ billion)
- Exhibit 56: Data Table on Street - Market size and forecast 2023-2028 ($ billion)
- Exhibit 57: Chart on Street - Year-over-year growth 2023-2028 (%)
- Exhibit 58: Data Table on Street - Year-over-year growth 2023-2028 (%)
- 7.5 Bridge - Market size and forecast 2023-2028
- Exhibit 59: Chart on Bridge - Market size and forecast 2023-2028 ($ billion)
- Exhibit 60: Data Table on Bridge - Market size and forecast 2023-2028 ($ billion)
- Exhibit 61: Chart on Bridge - Year-over-year growth 2023-2028 (%)
- Exhibit 62: Data Table on Bridge - Year-over-year growth 2023-2028 (%)
- 7.6 Market opportunity by Type
- Exhibit 63: Market opportunity by Type ($ billion)
- Exhibit 64: Data Table on Market opportunity by Type ($ billion)
8 Customer Landscape
- 8.1 Customer landscape overview
- Exhibit 65: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria
9 Geographic Landscape
- 9.1 Geographic segmentation
- Exhibit 66: Chart on Market share by geography - 2023-2028 (%)
- Exhibit 67: Data Table on Market share by geography - 2023-2028 (%)
- 9.2 Geographic comparison
- Exhibit 68: Chart on Geographic comparison
- Exhibit 69: Data Table on Geographic comparison
- 9.3 US - Market size and forecast 2023-2028
- Exhibit 70: Chart on US - Market size and forecast 2023-2028 ($ billion)
- Exhibit 71: Data Table on US - Market size and forecast 2023-2028 ($ billion)
- Exhibit 72: Chart on US - Year-over-year growth 2023-2028 (%)
- Exhibit 73: Data Table on US - Year-over-year growth 2023-2028 (%)
- 9.4 Canada - Market size and forecast 2023-2028
- Exhibit 74: Chart on Canada - Market size and forecast 2023-2028 ($ billion)
- Exhibit 75: Data Table on Canada - Market size and forecast 2023-2028 ($ billion)
- Exhibit 76: Chart on Canada - Year-over-year growth 2023-2028 (%)
- Exhibit 77: Data Table on Canada - Year-over-year growth 2023-2028 (%)
- 9.5 Mexico - Market size and forecast 2023-2028
- Exhibit 78: Chart on Mexico - Market size and forecast 2023-2028 ($ billion)
- Exhibit 79: Data Table on Mexico - Market size and forecast 2023-2028 ($ billion)
- Exhibit 80: Chart on Mexico - Year-over-year growth 2023-2028 (%)
- Exhibit 81: Data Table on Mexico - Year-over-year growth 2023-2028 (%)
- 9.6 Market opportunity by geography
- Exhibit 82: Market opportunity by geography ($ billion)
- Exhibit 83: Data Table on Market opportunity by geography ($ billion)
10 Drivers, Challenges, and Trends
- 10.1 Market drivers
- 10.2 Market challenges
- 10.3 Impact of drivers and challenges
- Exhibit 84: Impact of drivers and challenges in 2023 and 2028
- 10.4 Market trends
11 Vendor Landscape
- 11.1 Overview
- 11.2 Vendor landscape
- Exhibit 85: Overview on Criticality of inputs and Factors of differentiation
- 11.3 Landscape disruption
- Exhibit 86: Overview on factors of disruption
- 11.4 Industry risks
- Exhibit 87: Impact of key risks on business
12 Vendor Analysis
- 12.1 Vendors covered
- Exhibit 88: Vendors covered
- 12.2 Market positioning of vendors
- Exhibit 89: Matrix on vendor position and classification
- 12.3 Acciona SA
- Exhibit 90: Acciona SA - Overview
- Exhibit 91: Acciona SA - Business segments
- Exhibit 92: Acciona SA - Key news
- Exhibit 93: Acciona SA - Key offerings
- Exhibit 94: Acciona SA - Segment focus
- 12.4 ACS Actividades de Construccion Y Servicios SA
- Exhibit 95: ACS Actividades de Construccion Y Servicios SA - Overview
- Exhibit 96: ACS Actividades de Construccion Y Servicios SA - Business segments
- Exhibit 97: ACS Actividades de Construccion Y Servicios SA - Key offerings
- Exhibit 98: ACS Actividades de Construccion Y Servicios SA - Segment focus
- 12.5 Aecon Group Inc.
- Exhibit 99: Aecon Group Inc. - Overview
- Exhibit 100: Aecon Group Inc. - Business segments
- Exhibit 101: Aecon Group Inc. - Key offerings
- Exhibit 102: Aecon Group Inc. - Segment focus
- 12.6 Bechtel Corp.
- Exhibit 103: Bechtel Corp. - Overview
- Exhibit 104: Bechtel Corp. - Product / Service
- Exhibit 105: Bechtel Corp. - Key news
- Exhibit 106: Bechtel Corp. - Key offerings
- 12.7 Clark Construction Group LLC
- Exhibit 107: Clark Construction Group LLC - Overview
- Exhibit 108: Clark Construction Group LLC - Product / Service
- Exhibit 109: Clark Construction Group LLC - Key offerings
- 12.8 EllisDon
- Exhibit 110: EllisDon - Overview
- Exhibit 111: EllisDon - Product / Service
- Exhibit 112: EllisDon - Key offerings
- 12.9 Ferrovial SA
- Exhibit 113: Ferrovial SA - Overview
- Exhibit 114: Ferrovial SA - Business segments
- Exhibit 115: Ferrovial SA - Key offerings
- Exhibit 116: Ferrovial SA - Segment focus
- 12.10 Fluor Corp.
- Exhibit 117: Fluor Corp. - Overview
- Exhibit 118: Fluor Corp. - Business segments
- Exhibit 119: Fluor Corp. - Key offerings
- Exhibit 120: Fluor Corp. - Segment focus
- 12.11 Graham Management Services LP
- Exhibit 121: Graham Management Services LP - Overview
- Exhibit 122: Graham Management Services LP - Product / Service
- Exhibit 123: Graham Management Services LP - Key offerings
- 12.12 Kiewit Corp.
- Exhibit 124: Kiewit Corp. - Overview
- Exhibit 125: Kiewit Corp. - Product / Service
- Exhibit 126: Kiewit Corp. - Key offerings
- 12.13 Ledcor IP Holdings Ltd.
- Exhibit 127: Ledcor IP Holdings Ltd. - Overview
- Exhibit 128: Ledcor IP Holdings Ltd. - Product / Service
- Exhibit 129: Ledcor IP Holdings Ltd. - Key offerings
- 12.14 Rieth Riley Construction Co. Inc.
- Exhibit 130: Rieth Riley Construction Co. Inc. - Overview
- Exhibit 131: Rieth Riley Construction Co. Inc. - Product / Service
- Exhibit 132: Rieth Riley Construction Co. Inc. - Key offerings
- 12.15 Skanska AB
- Exhibit 133: Skanska AB - Overview
- Exhibit 134: Skanska AB - Business segments
- Exhibit 135: Skanska AB - Key offerings
- Exhibit 136: Skanska AB - Segment focus
- 12.16 The Walsh Group
- Exhibit 137: The Walsh Group - Overview
- Exhibit 138: The Walsh Group - Product / Service
- Exhibit 139: The Walsh Group - Key offerings
- 12.17 Tutor Perini Corp.
- Exhibit 140: Tutor Perini Corp. - Overview
- Exhibit 141: Tutor Perini Corp. - Business segments
- Exhibit 142: Tutor Perini Corp. - Key offerings
- Exhibit 143: Tutor Perini Corp. - Segment focus
13 Appendix
- 13.1 Scope of the report
- 13.2 Inclusions and exclusions checklist
- Exhibit 144: Inclusions checklist
- Exhibit 145: Exclusions checklist
- 13.3 Currency conversion rates for US$
- Exhibit 146: Currency conversion rates for US$
- 13.4 Research methodology
- Exhibit 147: Research methodology
- Exhibit 148: Validation techniques employed for market sizing
- Exhibit 149: Information sources
- 13.5 List of abbreviations
- Exhibit 150: List of abbreviations
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
- Manufacturers and suppliers
- Channel partners
- Industry experts
- Strategic decision makers
Secondary sources
- Industry journals and periodicals
- Government data
- Financial reports of key industry players
- Historical data
- Press releases
DATA ANALYSIS
Data Synthesis
- Collation of data
- Estimation of key figures
- Analysis of derived insights
Data Validation
- Triangulation with data models
- Reference against proprietary databases
- Corroboration with industry experts
REPORT WRITING
Qualitative
- Market drivers
- Market challenges
- Market trends
- Five forces analysis
Quantitative
- Market size and forecast
- Market segmentation
- Geographical insights
- Competitive landscape
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road construction and maintenance market in north america market
Key Questions Answered
- What are the key global market and the regional market share?
- What are the revenue-generating key market segments?
- What are the key factors driving and challenging this market’s growth?
- Who are the key market vendors and their growth strategies?
- What are the latest trends influencing the growth of this market?
- What are the variables influencing the market growth in the primary regions?
- What are the factors influencing the growth of the parent market?
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