Road construction and maintenance market size to grow by USD 259.95 billion between 2022 and 2027; North America to account for 41% of the market growth - Technavio

NEW YORK, April 7, 2023 /PRNewswire/ -- The road construction and maintenance market size is expected to grow by USD 259.95 billion between 2022 and 2027, accelerating at a CAGR of 5.42% during the forecast period. North America will account for 41% of the market growth during the forecast period. Factors such as the rise in the number of vehicles and increasing investment in road infrastructure development are driving the growth of the regional market. The increased government funding for the implementation of road safety measures will further drive the growth of the road construction and maintenance market in North America. For more insights on the market share of various regions - Download a Sample Report

Why Buy?

• Add credibility to strategy
• Analyzes competitor's offerings
• Get a holistic view of the market

Grow your profit margin with Technavio - Buy the Report

Road Construction and Maintenance Market: Growth in the number of automobiles to drive growth

The market is driven by the growth in the number of automobiles. Rapid urbanization and growing population have increased the number of automobiles across the world. For instance, global passenger car production in 2021 increased by more than 18.70% compared to 2010. Similarly, commercial vehicle production volumes increased by more than 79% in 2021 compared to 2010. In addition, many automakers are expanding their operations by entering new markets. Thus, the rise in the number of automobiles will spur the demand for road construction and maintenance, thereby driving the growth of the market.

Road Construction and Maintenance Market: Emergence of smart cities to be a key trend

The emergence of smart cities is identified as the key trend in the market. The number of smart cities is increasing worldwide. This is leading to the development of functional areas such as transportation, traffic management, energy efficiency and sustainability, and governance. The growing number of smart city projects is creating the need for the installation of road safety equipment in advanced road network systems, which is creating significant growth opportunities for market vendors. All these factors will positively influence the growth of the market during the forecast period.

To know about more drivers and trends influencing the market growth - Download a sample now!

Some of the Key Road Construction and Maintenance Market Players:

The global road construction and maintenance market is fragmented. There are numerous regional and international vendors in the market, which 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. The threat of new entrants was low in the market in 2022 because of high capital requirements and the availability of undifferentiated products offered by established vendors.

Advantage North Services Ltd., Afcons Infrastructure Ltd., Balfour Beatty Plc, Blacklidge, Cat Works LLC, Dilip Buildcon Ltd., Dragados, Ebenezer Commercial Works Ltd., Granite Construction Inc., Hunan Communication and Water Conservancy Group Ltd, Kiewit Corp., Ledcor Group, National Highways and Infrastructure Development Corp. Ltd., Strabag International GmbH, TATA projects, Tenmile, The Lane Construction Corp., United Materials, Xenomatix are some of the key vendors in the market.

Gain instant access to our 17,000+ market research reports.
Technavio's Subscription Platform

Road Construction and Maintenance Market: Segmentation Analysis

This market research report segments the road construction and maintenance market by application (new construction, reconstruction, and repair), type (highway, street, and bridge), and geography (North America, APAC, Europe, South America, and Middle East and Africa).

By application, the market growth in the new construction segment will be significant during the forecast period. The construction industry is expected to grow at a steady pace during the forecast period, with the expansion of road infrastructure. Many new road construction projects are underway across the world. For instance, the G5012 Enshi-Guangyuan Expressway: Wanzhou to Kaijiang Section project involves the construction of the 50.8km-long Wanzhou to Kaijiang section of G5012 Enshi to Guangyuan Expressway in China. The construction work commenced in Q4 2021 and is expected to finish in Q4 2026. The purpose of the project is to expand the highway network and reduce traffic, travel time, and distance. Many such road construction plans are driving the growth of the segment.

For additional information on the market contribution of each segment - Download 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

Related Reports:

• The road construction and maintenance market size in North America is estimated to grow at a CAGR of 3.37% between 2022 and 2027, and the size of the market is forecasted to increase by USD 48.42 billion. The market is segmented by application (new construction, reconstruction, and repair), and type (highway, street, and bridge).
• The construction market is estimated to grow at a CAGR of 5.3% between 2022 and 2027. The size of the market is forecasted to increase by USD 1,123.8 billion. The market is segmented by type (buildings construction, heavy and civil engineering, land planning and development, and specialty trade contractors), end-user (private sector and public sector), and geography (APAC, Europe, North America, Middle East and Africa, and South America).

Browse through Technavio's Industrials Market Reports

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 Global 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 Global - Market size and forecast 2022-2027 ($ billion)
• Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ billion)
• Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
• Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

• 4.1 Global road construction and maintenance market 2017 - 2021 
• Exhibit 18: Historic Market Size – Data Table on Global road construction and maintenance market 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 Geography Segment Analysis 2017 - 2021 
• Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 ($ billion)

• 4.5 Country Segment Analysis 2017 - 2021 
• Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 ($ billion)

5 Five Forces Analysis

• 5.1 Five forces summary 
• Exhibit 23: Five forces analysis - Comparison between2022 and 2027

• 5.2 Bargaining power of buyers 
• Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

• 5.3 Bargaining power of suppliers 
• Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

• 5.4 Threat of new entrants 
• Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027

• 5.5 Threat of substitutes 
• Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027

• 5.6 Threat of rivalry 
• Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027

• 5.7 Market condition 
• Exhibit 29: Chart on Market condition - Five forces 2022 and 2027

6 Market Segmentation by Application

• 6.1 Market segments 
• Exhibit 30: Chart on Application - Market share 2022-2027 (%)
• Exhibit 31: Data Table on Application - Market share 2022-2027 (%)

• 6.2 Comparison by Application 
• Exhibit 32: Chart on Comparison by Application
• Exhibit 33: Data Table on Comparison by Application

• 6.3 New construction - Market size and forecast 2022-2027
• Exhibit 34: Chart on New construction - Market size and forecast 2022-2027 ($ billion)
• Exhibit 35: Data Table on New construction - Market size and forecast 2022-2027 ($ billion)
• Exhibit 36: Chart on New construction - Year-over-year growth 2022-2027 (%)
• Exhibit 37: Data Table on New construction - Year-over-year growth 2022-2027 (%)

• 6.4 Reconstruction - Market size and forecast 2022-2027
• Exhibit 38: Chart on Reconstruction - Market size and forecast 2022-2027 ($ billion)
• Exhibit 39: Data Table on Reconstruction - Market size and forecast 2022-2027 ($ billion)
• Exhibit 40: Chart on Reconstruction - Year-over-year growth 2022-2027 (%)
• Exhibit 41: Data Table on Reconstruction - Year-over-year growth 2022-2027 (%)

• 6.5 Repair - Market size and forecast 2022-2027
• Exhibit 42: Chart on Repair - Market size and forecast 2022-2027 ($ billion)
• Exhibit 43: Data Table on Repair - Market size and forecast 2022-2027 ($ billion)
• Exhibit 44: Chart on Repair - Year-over-year growth 2022-2027 (%)
• Exhibit 45: Data Table on Repair - Year-over-year growth 2022-2027 (%)

• 6.6 Market opportunity by Application 
• Exhibit 46: 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)

8 Customer Landscape

• 8.1 Customer landscape overview 
• Exhibit 64: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

• 9.1 Geographic segmentation 
• Exhibit 65: Chart on Market share by geography 2022-2027 (%)
• Exhibit 66: Data Table on Market share by geography 2022-2027 (%)

• 9.2 Geographic comparison 
• Exhibit 67: Chart on Geographic comparison
• Exhibit 68: Data Table on Geographic comparison

• 9.3 North America - Market size and forecast 2022-2027
• Exhibit 69: Chart on North America - Market size and forecast 2022-2027 ($ billion)
• Exhibit 70: Data Table on North America - Market size and forecast 2022-2027 ($ billion)
• Exhibit 71: Chart on North America - Year-over-year growth 2022-2027 (%)
• Exhibit 72: Data Table on North America - Year-over-year growth 2022-2027 (%)

• 9.4 APAC - Market size and forecast 2022-2027 
• Exhibit 73: Chart on APAC - Market size and forecast 2022-2027 ($ billion)
• Exhibit 74: Data Table on APAC - Market size and forecast 2022-2027 ($ billion)
• Exhibit 75: Chart on APAC - Year-over-year growth 2022-2027 (%)
• Exhibit 76: Data Table on APAC - Year-over-year growth 2022-2027 (%)

• 9.5 Europe - Market size and forecast 2022-2027
• Exhibit 77: Chart on Europe - Market size and forecast 2022-2027 ($ billion)
• Exhibit 78: Data Table on Europe - Market size and forecast 2022-2027 ($ billion)
• Exhibit 79: Chart on Europe - Year-over-year growth 2022-2027 (%)
• Exhibit 80: Data Table on Europe - Year-over-year growth 2022-2027 (%)

• 9.6 South America - Market size and forecast 2022-2027
• Exhibit 81: Chart on South America - Market size and forecast 2022-2027 ($ billion)
• Exhibit 82: Data Table on South America - Market size and forecast 2022-2027 ($ billion)
• Exhibit 83: Chart on South America - Year-over-year growth 2022-2027 (%)
• Exhibit 84: Data Table on South America - Year-over-year growth 2022-2027 (%)

• 9.7 Middle East and Africa - Market size and forecast 2022-2027 
• Exhibit 85: Chart on Middle East and Africa - Market size and forecast 2022-2027 ($ billion)
• Exhibit 86: Data Table on Middle East and Africa - Market size and forecast 2022-2027 ($ billion)
• Exhibit 87: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
• Exhibit 88: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)

• 9.8 US - Market size and forecast 2022-2027
• Exhibit 89: Chart on US - Market size and forecast 2022-2027 ($ billion)
• Exhibit 90: Data Table on US - Market size and forecast 2022-2027 ($ billion)
• Exhibit 91: Chart on US - Year-over-year growth 2022-2027 (%)
• Exhibit 92: Data Table on US - Year-over-year growth 2022-2027 (%)

• 9.9 China - Market size and forecast 2022-2027
• Exhibit 93: Chart on China - Market size and forecast 2022-2027 ($ billion)
• Exhibit 94: Data Table on China - Market size and forecast 2022-2027 ($ billion)
• Exhibit 95: Chart on China - Year-over-year growth 2022-2027 (%)
• Exhibit 96: Data Table on China - Year-over-year growth 2022-2027 (%)

• 9.10 Russia - Market size and forecast 2022-2027
• Exhibit 97: Chart on Russia - Market size and forecast 2022-2027 ($ billion)
• Exhibit 98: Data Table on Russia - Market size and forecast 2022-2027 ($ billion)
• Exhibit 99: Chart on Russia - Year-over-year growth 2022-2027 (%)
• Exhibit 100: Data Table on Russia - Year-over-year growth 2022-2027 (%)

• 9.11 UK - Market size and forecast 2022-2027
• Exhibit 101: Chart on UK - Market size and forecast 2022-2027 ($ billion)
• Exhibit 102: Data Table on UK - Market size and forecast 2022-2027 ($ billion)
• Exhibit 103: Chart on UK - Year-over-year growth 2022-2027 (%)
• Exhibit 104: Data Table on UK - Year-over-year growth 2022-2027 (%)

• 9.12 India - Market size and forecast 2022-2027
• Exhibit 105: Chart on India - Market size and forecast 2022-2027 ($ billion)
• Exhibit 106: Data Table on India - Market size and forecast 2022-2027 ($ billion)
• Exhibit 107: Chart on India - Year-over-year growth 2022-2027 (%)
• Exhibit 108: Data Table on India - Year-over-year growth 2022-2027 (%)

• 9.13 Market opportunity by geography 
• Exhibit 109: 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 110: Impact of drivers and challenges in 2022 and 2027

• 10.4 Market trends

11 Vendor Landscape

• 11.1 Overview

• 11.2 Vendor landscape 
• Exhibit 111: Overview on Criticality of inputs and Factors of differentiation

• 11.3 Landscape disruption 
• Exhibit 112: Overview on factors of disruption

• 11.4 Industry risks 
• Exhibit 113: Impact of key risks on business

12 Vendor Analysis

• 12.1 Vendors covered 
• Exhibit 114: Vendors covered

• 12.2 Market positioning of vendors 
• Exhibit 115: Matrix on vendor position and classification

• 12.3 Advantage North Services Ltd. 
• Exhibit 116: Advantage North Services Ltd. - Overview
• Exhibit 117: Advantage North Services Ltd. - Product / Service
• Exhibit 118: Advantage North Services Ltd. - Key offerings

• 12.4 Afcons Infrastructure Ltd. 
• Exhibit 119: Afcons Infrastructure Ltd. - Overview
• Exhibit 120: Afcons Infrastructure Ltd. - Business segments
• Exhibit 121: Afcons Infrastructure Ltd. - Key offerings
• Exhibit 122: Afcons Infrastructure Ltd. - Segment focus

• 12.5 Balfour Beatty Plc 
• Exhibit 123: Balfour Beatty Plc - Overview
• Exhibit 124: Balfour Beatty Plc - Business segments
• Exhibit 125: Balfour Beatty Plc - Key offerings
• Exhibit 126: Balfour Beatty Plc - Segment focus

• 12.6 Blacklidge 
• Exhibit 127: Blacklidge - Overview
• Exhibit 128: Blacklidge - Product / Service
• Exhibit 129: Blacklidge - Key offerings

• 12.7 Cat Works LLC 
• Exhibit 130: Cat Works LLC - Overview
• Exhibit 131: Cat Works LLC - Product / Service
• Exhibit 132: Cat Works LLC - Key offerings

• 12.8 Dilip Buildcon Ltd. 
• Exhibit 133: Dilip Buildcon Ltd. - Overview
• Exhibit 134: Dilip Buildcon Ltd. - Business segments
• Exhibit 135: Dilip Buildcon Ltd. - Key offerings
• Exhibit 136: Dilip Buildcon Ltd. - Segment focus

• 12.9 Dragados 
• Exhibit 137: Dragados - Overview
• Exhibit 138: Dragados - Product / Service
• Exhibit 139: Dragados - Key offerings

• 12.10 Ebenezer Commercial Works Ltd. 
• Exhibit 140: Ebenezer Commercial Works Ltd. - Overview
• Exhibit 141: Ebenezer Commercial Works Ltd. - Product / Service
• Exhibit 142: Ebenezer Commercial Works Ltd. - Key offerings

• 12.11 Granite Construction Inc. 
• Exhibit 143: Granite Construction Inc. - Overview
• Exhibit 144: Granite Construction Inc. - Business segments
• Exhibit 145: Granite Construction Inc. - Key offerings
• Exhibit 146: Granite Construction Inc. - Segment focus

• 12.12 Hunan Communication and Water Conservancy Group Ltd 
• Exhibit 147: Hunan Communication and Water Conservancy Group Ltd - Overview
• Exhibit 148: Hunan Communication and Water Conservancy Group Ltd - Product / Service
• Exhibit 149: Hunan Communication and Water Conservancy Group Ltd - Key offerings

• 12.13 Kiewit Corp. 
• Exhibit 150: Kiewit Corp. - Overview
• Exhibit 151: Kiewit Corp. - Product / Service
• Exhibit 152: Kiewit Corp. - Key offerings

• 12.14 Ledcor Group 
• Exhibit 153: Ledcor Group - Overview
• Exhibit 154: Ledcor Group - Product / Service
• Exhibit 155: Ledcor Group - Key offerings

• 12.15 Strabag International GmbH 
• Exhibit 156: Strabag International GmbH - Overview
• Exhibit 157: Strabag International GmbH - Product / Service
• Exhibit 158: Strabag International GmbH - Key offerings

• 12.16 TATA projects 
• Exhibit 159: TATA projects - Overview
• Exhibit 160: TATA projects - Business segments
• Exhibit 161: TATA projects - Key offerings
• Exhibit 162: TATA projects - Segment focus

• 12.17 The Lane Construction Corp. 
• Exhibit 163: The Lane Construction Corp. - Overview
• Exhibit 164: The Lane Construction Corp. - Product / Service
• Exhibit 165: The Lane Construction Corp. - Key offerings

13 Appendix

• 13.1 Scope of the report

• 13.2 Inclusions and exclusions checklist 
• Exhibit 166: Inclusions checklist
• Exhibit 167: Exclusions checklist

• 13.3 Currency conversion rates for US$ 
• Exhibit 168: Currency conversion rates for US$

• 13.4 Research methodology 
• Exhibit 169: Research methodology
• Exhibit 170: Validation techniques employed for market sizing
• Exhibit 171: Information sources

• 13.5 List of abbreviations 
• Exhibit 172: List of abbreviations

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/

SOURCE Technavio