Road construction and maintenance market size in North America to grow by USD 48.42 billion between 2022 and 2027; Growth driven by aging highway infrastructure - Technavio

NEW YORK, April 20, 2023 /PRNewswire/ -- The road construction and maintenance market size is expected to grow by USD 48.42 billion between 2022 and 2027, progressing at a CAGR of 3.37%, as per the latest Technavio market research report. The market is driven by the aging highway infrastructure. Regional economic growth is prominently driven by the presence of an effective transportation network. Having a robust transportation network ensures quick access to resources and lowers freight costs. However, the aging and fragile highway infrastructure in North America is compromising the network. For example, according to the American Society of Civil Engineers, as of November 2021, 1 in 5 miles of highways and major roads and 45,000 bridges were not in proper condition. This has created the need for upgrading and modernizing the aging roadway networks. This is attracting significant investments in highway infrastructure, which is driving the growth of the market. For more insights on the market share of various regions- Download a Sample Report

Road Construction and Maintenance Market in North America: Key Trend

The increasing incidence of road accidents is a key trend in the market. Globally, the number of road accidents is increasing due to factors such as driver error, overspeeding, drunken driving, and non-compliance with traffic rules. Poor infrastructure of the road is another major factor in increasing the number of road crashes. According to a recent study by the International Transport Forum (ITF), nearly 1.3-1.5 million deaths occur due to road crashes across the globe every year. In North America, the highest number of road accidents is witnessed in the US. Such an increase in road fatalities has spurred the demand for road construction and maintenance, thereby supporting market growth.

In addition to the forecast, the report also highlights the key opportunities by analyzing drivers, trends, and challenges for the market - Download a sample now!

Some of the key Road Construction and Maintenance Market Players:

The road construction and maintenance market in North America is fragmented. There are numerous regional vendors in the market that compete based on different parameters. Some well-established vendors offer additional services such as timely maintenance of the road, while small players usually compete based on the price point. However, the cost of switching services is high, due to which buyers do not prefer changing services. This tends to reduce competition among vendors. Therefore, the threat of rivalry was moderate in 2022 and is expected to remain the same during the forecast period. Some of the key vendors covered in the report include:

• Aecon Group Inc. - The company offers road construction and maintenance services through its subsidiary HOCHTIEF Aktiengesellschaft.
• Ferrovial SA - The company offers road construction and maintenance services for regional roads, ring roads, and bridges.
• Graham Management Services LP - The company offers road construction and maintenance services for highways, motorways, and bridges.
• Granite Construction Inc. - The company offers road construction and maintenance services for highways and bridges.
• Grupo Carso SAB de CV
• GRUPO INDI SA DE CV
• Kiewit Corp.
• Kokosing Inc.
• Ledcor IP Holdings Ltd.
• Obayashi Corp.
• PCL Constructors Inc.
• Pomerleau Inc.
• Skanska AB
• Tutor Perini Corp.
• ACS Actividades de Construccion Y Servicios SA

Road Construction and Maintenance Market in North America: Segmentation Analysis

This market research report segments the road construction and maintenance market by application (new construction, reconstruction, and repair) and type (highway, street, and bridge).

The market growth in the new construction segment will be significant over the forecast period. The growth of the segment is driven by the rise in the number of passenger vehicles and commercial vehicles and increasing investment in road infrastructure. In addition, increasing initiatives toward the expansion of road infrastructure by governments will drive the growth of the segment during the forecast period.

To provide a deeper understanding of the competitive landscape, Technavio has profiled key players along with the study that categorizes the global market segmentation - Grab an Exclusive Sample Report

Some of the key topics covered in the report include:

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

• Vendors covered
• Vendor classification
• Market positioning of vendors
• Competitive scenario

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Table of contents:

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 2022

• 3.4 Market outlook: Forecast for 2022-2027 
• Exhibit 14: Chart on North America - Market size and forecast 2022-2027 ($ billion)
• Exhibit 15: Data Table on Regional - Market size and forecast 2022-2027 ($ billion)
• Exhibit 16: Chart on North America: Year-over-year growth 2022-2027 (%)
• Exhibit 17: Data Table on Regional - Market size and forecast 2022-2027 ($ billion)

4 Historic Market Size

• 4.1 Road construction and maintenance market in North America 2017 - 2021 
• Exhibit 18: Historic Market Size – Data Table on Road construction and maintenance market in North America 2017 - 2021 ($ billion)

• 4.2 Application Segment Analysis 2017 - 2021 
• Exhibit 19: Historic Market Size – Application Segment 2017 - 2021 ($ billion)

• 4.3 Type Segment Analysis 2017 - 2021 
• Exhibit 20: Historic Market Size – Type Segment 2017 - 2021 ($ billion)

• 4.4 Country Segment Analysis 2017 - 2021 
• Exhibit 21: Historic Market Size – Country Segment 2017 - 2021 ($ billion)

5 Five Forces Analysis

• 5.1 Five forces summary
• Exhibit 22: Five forces analysis - Comparison between 2022 and 2027

• 5.2 Bargaining power of buyers 
• Exhibit 23: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

• 5.3 Bargaining power of suppliers 
• Exhibit 24: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

• 5.4 Threat of new entrants 
• Exhibit 25: Threat of new entrants – Impact of key factors in 2022 and 2027

• 5.5 Threat of substitutes 
• Exhibit 26: Threat of substitutes – Impact of key factors in 2022 and 2027

• 5.6 Threat of rivalry
• Exhibit 27: Threat of rivalry – Impact of key factors in 2022 and 2027

• 5.7 Market condition
• Exhibit 28: Chart on Market condition - Five forces 2022 and 2027

6 Market Segmentation by Application

• 6.1 Market segments
• Exhibit 29: Chart on Application - Market share 2022-2027 (%)
• Exhibit 30: Data Table on Application - Market share 2022-2027 (%)

• 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 2022-2027 
• Exhibit 33: Chart on New construction - Market size and forecast 2022-2027 ($ billion)
• Exhibit 34: Data Table on New construction - Market size and forecast 2022-2027 ($ billion)
• Exhibit 35: Chart on New construction - Year-over-year growth 2022-2027 (%)
• Exhibit 36: Data Table on New construction - Year-over-year growth 2022-2027 (%)

• 6.4 Reconstruction - Market size and forecast 2022-2027 
• Exhibit 37: Chart on Reconstruction - Market size and forecast 2022-2027 ($ billion)
• Exhibit 38: Data Table on Reconstruction - Market size and forecast 2022-2027 ($ billion)
• Exhibit 39: Chart on Reconstruction - Year-over-year growth 2022-2027 (%)
• Exhibit 40: Data Table on Reconstruction - Year-over-year growth 2022-2027 (%)

• 6.5 Repair - Market size and forecast 2022-2027 
• Exhibit 41: Chart on Repair - Market size and forecast 2022-2027 ($ billion)
• Exhibit 42: Data Table on Repair - Market size and forecast 2022-2027 ($ billion)
• Exhibit 43: Chart on Repair - Year-over-year growth 2022-2027 (%)
• Exhibit 44: Data Table on Repair - Year-over-year growth 2022-2027 (%)

• 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 2022-2027 (%)
• Exhibit 48: Data Table on Type - Market share 2022-2027 (%)

• 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 2022-2027 
• Exhibit 51: Chart on Highway - Market size and forecast 2022-2027 ($ billion)
• Exhibit 52: Data Table on Highway - Market size and forecast 2022-2027 ($ billion)
• Exhibit 53: Chart on Highway - Year-over-year growth 2022-2027 (%)
• Exhibit 54: Data Table on Highway - Year-over-year growth 2022-2027 (%)

• 7.4 Street - Market size and forecast 2022-2027 
• Exhibit 55: Chart on Street - Market size and forecast 2022-2027 ($ billion)
• Exhibit 56: Data Table on Street - Market size and forecast 2022-2027 ($ billion)
• Exhibit 57: Chart on Street - Year-over-year growth 2022-2027 (%)
• Exhibit 58: Data Table on Street - Year-over-year growth 2022-2027 (%)

• 7.5 Bridge - Market size and forecast 2022-2027 
• Exhibit 59: Chart on Bridge - Market size and forecast 2022-2027 ($ billion)
• Exhibit 60: Data Table on Bridge - Market size and forecast 2022-2027 ($ billion)
• Exhibit 61: Chart on Bridge - Year-over-year growth 2022-2027 (%)
• Exhibit 62: Data Table on Bridge - Year-over-year growth 2022-2027 (%)

• 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 - 2022-2027 (%)
• Exhibit 67: Data Table on Market share by geography - 2022-2027 (%)

• 9.2 Geographic comparison 
• Exhibit 68: Chart on Geographic comparison
• Exhibit 69: Data Table on Geographic comparison

• 9.3 US - Market size and forecast 2022-2027 
• Exhibit 70: Chart on US - Market size and forecast 2022-2027 ($ billion)
• Exhibit 71: Data Table on US - Market size and forecast 2022-2027 ($ billion)
• Exhibit 72: Chart on US - Year-over-year growth 2022-2027 (%)
• Exhibit 73: Data Table on US - Year-over-year growth 2022-2027 (%)

• 9.4 Canada - Market size and forecast 2022-2027 
• Exhibit 74: Chart on Canada - Market size and forecast 2022-2027 ($ billion)
• Exhibit 75: Data Table on Canada - Market size and forecast 2022-2027 ($ billion)
• Exhibit 76: Chart on Canada - Year-over-year growth 2022-2027 (%)
• Exhibit 77: Data Table on Canada - Year-over-year growth 2022-2027 (%)

• 9.5 Mexico - Market size and forecast 2022-2027 
• Exhibit 78: Chart on Mexico - Market size and forecast 2022-2027 ($ billion)
• Exhibit 79: Data Table on Mexico - Market size and forecast 2022-2027 ($ billion)
• Exhibit 80: Chart on Mexico - Year-over-year growth 2022-2027 (%)
• Exhibit 81: Data Table on Mexico - Year-over-year growth 2022-2027 (%)

• 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 2022 and 2027

• 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 ACS Actividades de Construccion Y Servicios SA 
• Exhibit 90: ACS Actividades de Construccion Y Servicios SA - Overview
• Exhibit 91: ACS Actividades de Construccion Y Servicios SA - Product / Service
• Exhibit 92: ACS Actividades de Construccion Y Servicios SA - Key offerings

• 12.4 Aecon Group Inc.
• Exhibit 93: Aecon Group Inc. - Overview
• Exhibit 94: Aecon Group Inc. - Business segments
• Exhibit 95: Aecon Group Inc. - Key offerings
• Exhibit 96: Aecon Group Inc. - Segment focus

• 12.5 Bechtel Corp.
• Exhibit 97: Bechtel Corp. - Overview
• Exhibit 98: Bechtel Corp. - Product / Service
• Exhibit 99: Bechtel Corp. - Key news
• Exhibit 100: Bechtel Corp. - Key offerings

• 12.6 Clark Construction Group LLC 
• Exhibit 101: Clark Construction Group LLC - Overview
• Exhibit 102: Clark Construction Group LLC - Product / Service
• Exhibit 103: Clark Construction Group LLC - Key offerings

• 12.7 EllisDon
• Exhibit 104: EllisDon - Overview
• Exhibit 105: EllisDon - Product / Service
• Exhibit 106: EllisDon - Key offerings

• 12.8 Ferrovial SA
• Exhibit 107: Ferrovial SA - Overview
• Exhibit 108: Ferrovial SA - Business segments
• Exhibit 109: Ferrovial SA - Key offerings
• Exhibit 110: Ferrovial SA - Segment focus

• 12.9 Fluor Corp.
• Exhibit 111: Fluor Corp. - Overview
• Exhibit 112: Fluor Corp. - Business segments
• Exhibit 113: Fluor Corp. - Key offerings
• Exhibit 114: Fluor Corp. - Segment focus

• 12.10 Graham Management Services LP 
• Exhibit 115: Graham Management Services LP - Overview
• Exhibit 116: Graham Management Services LP - Product / Service
• Exhibit 117: Graham Management Services LP - Key offerings

• 12.11 Kiewit Corp.
• Exhibit 118: Kiewit Corp. - Overview
• Exhibit 119: Kiewit Corp. - Product / Service
• Exhibit 120: Kiewit Corp. - Key offerings

• 12.12 Ledcor IP Holdings Ltd. 
• Exhibit 121: Ledcor IP Holdings Ltd. - Overview
• Exhibit 122: Ledcor IP Holdings Ltd. - Product / Service
• Exhibit 123: Ledcor IP Holdings Ltd. - Key offerings

• 12.13 PCL Constructors Inc. 
• Exhibit 124: PCL Constructors Inc. - Overview
• Exhibit 125: PCL Constructors Inc. - Product / Service
• Exhibit 126: PCL Constructors Inc. - Key offerings

• 12.14 Pomerleau Inc.
• Exhibit 127: Pomerleau Inc. - Overview
• Exhibit 128: Pomerleau Inc. - Product / Service
• Exhibit 129: Pomerleau Inc. - Key offerings

• 12.15 Skanska AB
• Exhibit 130: Skanska AB - Overview
• Exhibit 131: Skanska AB - Business segments
• Exhibit 132: Skanska AB - Key offerings
• Exhibit 133: Skanska AB - Segment focus

• 12.16 The Walsh Group
• Exhibit 134: The Walsh Group - Overview
• Exhibit 135: The Walsh Group - Product / Service
• Exhibit 136: The Walsh Group - Key offerings

• 12.17 Tutor Perini Corp.
• Exhibit 137: Tutor Perini Corp. - Overview
• Exhibit 138: Tutor Perini Corp. - Business segments
• Exhibit 139: Tutor Perini Corp. - Key offerings
• Exhibit 140: Tutor Perini Corp. - Segment focus

13 Appendix

• 13.1 Scope of the report

• 13.2 Inclusions and exclusions checklist 
• Exhibit 141: Inclusions checklist
• Exhibit 142: Exclusions checklist

• 13.3 Currency conversion rates for US$ 
• Exhibit 143: Currency conversion rates for US$

• 13.4 Research methodology
• Exhibit 144: Research methodology
• Exhibit 145: Validation techniques employed for market sizing
• Exhibit 146: Information sources

• 13.5 List of abbreviations 
• Exhibit 147: List of abbreviations

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