The swift growth of bridge expansion joints market can be attributed to rapid urbanization, increasing vehicle movement, and robust infrastructure development across the globe. With increasing government initiatives undertaken to develop smart cities, the sales of bridge expansion joints are slated to rise at 1.5X between 2021 and 2031.
Frequent seismic activities, extreme weather conditions, and heavy traffic have spurred the adoption of bridge expansion joints across bridges, railway tracks, and flyovers. These expansion joints are effective in reducing the damages caused to the infrastructure by environmental factors.
ESOMAR-certified market research firm Future Market Insights (FMI) in its latest analysis forecasts the global bridge expansion joints market to expand at healthy compound annual growth rate (CAGR) of 5.5% between 2021 and 2031, reaching a valuation of US$ 1500 Million by 2031 end.
Technological advancements have paved the way for the development of advanced bridge expansion joints with flexible, long lasting, waterproof and noise reduction features. These products can accommodate movements in all directions of overhead structures with minimum load transmission to decks or slabs.
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Closed type bridge expansion joints segment is dominating the global market, with a valuation of around US$ 371.9 Mn in 2021. These joints are utilized primarily in roadway bridge applications where movement ranges greater than or equal to 2.5 inch.
China dominates the global bridge expansion joints market. With increasing investments in transportation and infrastructure development, the market in China is expected to hold nearly one fifth of value share in the global market during the forecast period.
“Increasing government investments towards the expansion of existing infrastructure and technological advancements in bridge expansion joints will continue to drive the market during the forecast period,” says the FMI analyst.
Key Takeaways from Bridge Expansion Joints Market Survey
- China is slated to continue its dominance in the bridge expansion joints market with an incremental opportunity of around US$ 130.9 Mn during the forecast period.
- With robust transport expansion and increasing bridge rehabilitation, Europe market will register a healthy CAGR of 4.9% between 2021 and 2031.
- Sales of bridge expansion joints to remain positive across the U.S. The growth of market in the country can be attributed to the increasing investments in infrastructure and the presence of leading market players.
- Closed type expansion joints segment dominates the market with an estimated value of US$ 271.9 Mn in 2021.
- By application, the roadway bridges segment is projected to reach 12,604 meters by the end of 2031.
- Top 4 players operating in the bridge expansion joints market account for around 37% share of the overall market.
Key Drivers
- Growing construction industry will augment the demand for bridge expansion joints across bridges, flyovers etc.
- Development and launch of new lightweight bridge expansion joints are positively impacting the growth of the market.
- Increasing seismic activities and extreme weather conditions are likely to fuel demand for bridge expansion joints.
- High investments in developing smart cities will aid market growth.
Key Restraints
- The corrosive nature of some expansion joints when exposed to salts or de-icing salts remains a primary factor hampering the market growth.
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Competitive Landscape
Key companies operating in the bridge expansion joints market are investing heavily in research and development activities. They are adopting various organic and inorganic strategies such as mergers and acquisitions, advanced product development, alliances and collaborations to expand their product portfolio and stay relevant in the market.
- In 2020 Sika, a global leader in waterproofing and specialty construction and industrial materials acquired expansion joint pre-compressed sealant manufacturer EMSEAL Joint Systems Ltd. The acquisition will help the company to provide innovative, market driven, applicator-friendly practical products that can solve real problems.
- In 2020-2021, Maurer announced the launch of improved MAURER XC1 expansion joint for road bridges. The new expansion joint can compensate for up to 100 mm bridge movement with maximum noise reduction capability.
- Similarly in January 2018 Structural Technologies partnered with RJ Watson to expand its presence in the transportation sector.
Some of the prominent players operating in the Bridge Expansion Joints market profiled by FMI are:
- Trelleborg AB
- Canam Group Inc.
- Ekspan Ltd.
- Freyssinet Limited
- Granor Rubber & Engineering Pty. Limited
More Insights on the Bridge Expansion Joints Sales Outlook
FMI provides an unbiased analysis of bridge expansion joints market, presenting historical demand data (2016-2020) and forecast statistics for the period from 2021-2031. The study divulges compelling insights on the global demand for bridge expansion joints with a detailed segmentation on the basis of:
Key Questions Covered in the Bridge Expansion Joints Sales Outlook Report
- The report offers insight into bridge expansion joints demand outlook for 2021-2031
- The market study also highlights projected sales growth for bridge expansion joints market between 2021 and 2031
- Bridge expansion joints market survey identifies key growth drivers, restraints, and other forces impacting prevailing trends and evaluation of current market size and forecast and technological advancements within the industry
- Bridge expansion joints market share analysis of the key companies within the industry and coverage of strategies such as mergers & acquisitions, joint ventures, collaborations or partnerships, and others
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