According to a recently published report by Research Nester on “Steel Bridge Market: Global Demand Analysis & Opportunity Outlook 2027” delivers detailed overview of the Steel Bridge Market in terms of market segmentation by kind of traffic carried, by main structural system, by position of carriage way and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
The steel bridge market is segmented by kind of traffic carried, main structural system, position of carriageway and region. Based on kind of traffic carried, the market is segmented into Road Bridges, Railway Bridges and road cum rail bridges. On the basis of main structural system, the market is segmented into suspension bridge, cable-stayed bridge, arch bridge, rigid frame bridge, plate and box bridge and truss girder bridge. Further on the basis of position of carriageway, the market is segmented into deck type bridge, through type bridge and semi-through type bridge. The steel bridge market is anticipated to record a CAGR of around 4% during the forecast period i.e. 2019-2027. The market is segmented by kind of traffic carried into road bridges, railway bridges and road cum rail bridges, out of which, the road bridges segment is anticipated to have growth on account of increasing demand for vehicles and increasing global connectivity between small islands and cities.
Durability and adaptability
Steel is highly resistant to extreme environmental conditions and can withstand natural disasters such as hurricanes and earthquakes which is expected to boost the growth of the steel bridge market.
Steel bridges offer cost effectiveness as compared to other types of bridges and have longer life span. The maintenance cost of steel bridges is also low in the long run and need not be replaced frequently which is expected to drive the steel bridge market.
Europe is expected to grow at a faster rate on the back of the mechanical properties of steel that affect the overall strength and stability in the long run. Europe steel bridge market is expected to grow at a CAGR of 3.4% and is expected to reach USD 31.1 billion by the end of 2025. Europe steel bridge market is segmented by type into- through truss bridge, half- through truss bridge, deck truss bridge and bow string Trusses Bridge. Among these, through truss bridge is expected to grow at a CAGR of 3.7% and half- through bridge is expected to grow at 3.3%. North America is expected to grow on the back of increasing construction solution by steel makers for bridges.
However, high initial cost of construction, availability of other construction materials and requirement of highly skilled labor are expected to operate as key restraints to the growth of steel bridge market during the forecast period.
This report also provides the existing competitive scenario of some of the key players of the Steel Bridge Market which includes company profiling of VINCI, Bechtel Corporation, Skansa AB and AECOM. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the Steel Bridge Market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.