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Economic development

Highway, Street, And Bridge Construction Market to Reach USD 3.7 Trillion by 2030

Strategic Insights

— 2 min read

Rapid urbanization, population growth, and the push for improved transportation infrastructure are driving the global highway, street, and bridge construction market, which is expected to reach USD 2.6 trillion in 2024 and USD 3.7 trillion by 2030, growing at a compound annual growth rate (CAGR) of 5.90 percent.

The integration of technologies such as edge computing and vehicle-to-everything (V2X) is transforming road infrastructure by improving traffic efficiency and safety. The Asia-Pacific region leads growth, driven by extensive urban projects and government initiatives, while growth in some developed regions remains moderate due to mature infrastructure networks. Governments are investing heavily in infrastructure to enhance connectivity, facilitate trade, and support economic development.

Key Takeaways:

  • The highway, street, and bridge construction market was valued at USD 2.6 trillion in 2024 and is expected to reach USD 3.7 trillion by 2030, growing at a CAGR of 5.90 percent.
  • Robust government funding remains a central driver of the market worldwide, with infrastructure development viewed as a catalyst for economic expansion, social welfare, and improved mobility.
  • The U.S. Federal Highway Administration funds numerous large-scale infrastructure upgrades through initiatives such as the Highway Trust Fund, while the European Investment Bank supports cross-border transportation enhancements across the continent.
  • Countries like India, China, and Brazil are investing in large-scale transport projects to improve rural accessibility, reduce logistical costs, and support economic zones.
  • The integration of smart technologies, including IoT-enabled devices, sensors, and data analytics, is transforming transportation infrastructure, enhancing safety, optimizing traffic flow, and reducing environmental impact.
  • The Asia-Pacific region leads growth, driven by extensive urban projects and government initiatives, while growth in some developed regions remains moderate due to mature infrastructure networks.

Statistics:

  • USD 2.6 trillion: Value of the highway, street, and bridge construction market in 2024
  • USD 3.7 trillion: Expected value of the highway, street, and bridge construction market by 2030
  • 5.90 percent: Compound annual growth rate (CAGR) of the highway, street, and bridge construction market
  • 2024-2030: Forecast period for the highway, street, and bridge construction market
  • 188 pages: Estimated pages in the report on the highway, street, and bridge construction market

Sources:

  • ResearchAndMarkets.com's "Highway, Street, And Bridge Construction Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2020-2030F" report
  • U.S. Federal Highway Administration's Highway Trust Fund
  • European Investment Bank's cross-border transportation enhancements
  • China's Belt and Road Initiative
  • China Communications Construction Group Ltd.
  • Grupo ACS/Hochtief
  • China Railway Construction Corp. Ltd.
  • Skanska AB
  • We-Build SPA
  • China Railway Group Ltd.
  • Power Construction Corp. of China
  • China State Construction Engineering Corp. Ltd.

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