Global Transportation Infrastructure Construction Market Size Forecast 2024 - 2033
23 Dec, 2024
What Is The Definition Of The Global Transportation Infrastructure Construction Market?
Transportation infrastructure construction refers to the process of planning, designing, and building physical structures and systems that support the movement of people, goods, and vehicles. It aims to create efficient, safe, and reliable transportation networks that facilitate economic development, enhance mobility, and connect communities locally, nationally, and globally.
Transportation Infrastructure Construction Global Market Report 2024 provides data on the global transportation infrastructure construction market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The transportation infrastructure construction market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.
How Is The Global Transportation Infrastructure Construction Market Size Expected To Expand, And At What Annual Growth Rate?
The transportation infrastructure construction market has grown steadily in recent years. It is expected to grow from $3,240.16 billion in 2023 to $3,398.27 billion in 2024, with a CAGR of 4.9%. This growth is driven by factors such as population growth, urbanization, aging infrastructure, government investments, technological advancements, and environmental regulations. The market is projected to continue growing robustly, reaching $4,180.46 billion by 2028 at a CAGR of 5.3%. This growth is attributed to the rise of smart transportation systems, renewable energy integration, climate change adaptation, public-private partnerships (PPPs), and the increasing digitalization and automation of infrastructure. Major trends in the forecast period include sustainable infrastructure, multimodal transportation hubs, resilient infrastructure, data-driven decision-making, and modular construction.
What Are The Key Drivers Fueling Growth In The Transportation Infrastructure Construction Market?
The growth of the tourism industry is expected to propel the transportation infrastructure construction market. Tourism, which includes travel-related activities and services, is expanding due to higher disposable income, increased access to travel, and a desire for cultural experiences. Tourism destinations require robust transportation infrastructure, including well-maintained roads and highways, to enhance accessibility and economic development. In March 2024, the Office for National Statistics reported a rise in international visits to the UK in 2022, contributing to the growth of transportation infrastructure construction.
Get Your Free Sample of the Global Transportation Infrastructure Construction Market ReportWhat Are The Principal Market Segments In The Global Transportation Infrastructure Construction Industry?
The transportation infrastructure construction market covered in this report is segmented –
1) By Infrastructure Type: Roads, Highways, And Bridges, Railways And Metros, Sea Ports, Airports
2) By Construction Type: New Construction, Repair And Maintenance
3) By Application: Urban, Rural
Which Emerging Market Trends Are Altering The Transportation Infrastructure Construction Sector?
Leading companies in the transportation infrastructure construction sector are forming strategic partnerships to improve project execution and foster innovation. Strategic partnerships allow companies to combine their resources and expertise to achieve mutual goals. For instance, in September 2023, Ferrovial, a Finnish company specializing in construction and electrical services, partnered with the Georgia Institute of Technology, a research university in the U.S., to develop innovative solutions for transportation infrastructure. This partnership facilitates joint research, new educational opportunities for students, and the creation of a more sustainable future for mobility.
What Is The Leading Region In The Transportation Infrastructure Construction Market?
Asia Pacific was the largest region in the transportation infrastructure construction market in 2023. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the transportation infrastructure construction market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.