The global bridge expansion joints market is embarking on a remarkable journey, with a significant valuation of US$ 1.1 billion in 2022. This sustained interest can be attributed to the rapid evolution of materials, design, and manufacturing techniques, propelling the market to reach an impressive US$ 1.2 billion in 2023. The market is poised to maintain this growth momentum with a projected compound annual growth rate (CAGR) of 5.7% from 2023 to 2033, ultimately securing a valuation of US$ 2.1 billion in 2033.
Several key factors contribute to this remarkable growth, including the expanding global population, the increasing number of vehicles on the road, and the escalating investment in infrastructural development projects across both developed and developing countries. These dynamics create a robust and continuous demand for bridge expansion joints as they play a pivotal role in ensuring the longevity and safety of our transportation infrastructure.
Decode Complexity: Request Our Sample Report To Simplify Your Strategic Journey. https://www.futuremarketinsights.com/reports/sample/rep-gb-7396
Global Bridge Expansion Joints Market Dynamics:
Increasing investments for infrastructural development across the globe will act as a catalyst for the overall growth of the bridge expansion joints market during the forecast period. Moreover, increasing construction activities in developing regions, such as SEA & pacific, are estimated to fuel the growth of the bridge expansion joints market over the forecast period.
On the flip side, one of the key challenges faced by the manufacturers of bridge expansion joints is that the upper layer of steel expansion joints corrodes when exposed to salts or de-icing salts. This is anticipated to be the primary factor hampering the growth of the bridge expansion joints market over the forecast period. Moreover, bridge expansion joints require high logistics cost due to their heaviness, which is another factor anticipated to act as a restraining factor for the growth of the bridge expansion joints market in near future.
Global Bridge Expansion Joints Market Forecast:
Market insights suggests that the overall size of the global bridge expansion joints market will expand over the forecast period. Several positive changes are expected to fuel the growth of the global bridge expansion joints market.
By region, China is projected to dominate the global bridge expansion joints market over the forecast period. China, followed by Western Europe, is estimated to remain the most opportunistic region in the bridge expansion joints market. In terms of value, China is projected to create incremental $ opportunity worth US$ 130.9 Mn in the global bridge expansion joints market during the forecast period. Middle East & Africa (MEA), followed by Latin America, are projected to grow at a significant CAGR over the forecast period in the global bridge expansion joints market.
By type, the closed type expansion joints segment is projected to dominate with a value of US$ 371.9 Mn in 2021. However, the open joints segment is projected to account for more than 40% share in the global bridge expansion joints market during the forecast period. In terms of growth, open type bridge expansion joint segment is projected to grow with modest growth rate during the latter half of the forecast period.
By application, the roadway bridges segment is projected to dominate the global bridge expansion joints market. In terms of volume, the demand from roadway bridges segment is projected to be pegged at 12,604 ‘000 meters by the end of 2031. In terms of value, the railway bridges segment is projected to create incremental $ opportunity worth US$ 118.8 Mn in the global bridge expansion joints market over the forecast period. Under the application segment, the roadway bridges sub-segment is expected to grow with remarkable growth rate in the global bridge expansion joints market owing to increasing roadway network in developing regions.
Unveil Opportunities, Drive Results: Purchase Your Complete Report and Ignite Your Strategy. https://www.futuremarketinsights.com/checkout/7396
Competitive Landscape:
Some of the key players involved in the manufacturing of bridge expansion joints and included in this study are Trelleborg AB, Canam Group Inc., Ekspan Ltd., Freyssinet Limited, Granor Rubber & Engineering Pty. Limited, Gumba GmbH & Co. KG, KantaFlex (India) Private Limited, Mageba SA, Metal Engineering & Treatment Co. Pvt. Ltd., ZaoqiangDacheng Rubber Co., Ltd., RJ Watson, Inc., TensacciaiS.r.l., Maurer SE and Watson Bowman Acme Corp.
Bridge Expansion Joints Market: Segmentation:
Based on Type:
- Open Joints
- Butt Joint
- Sliding Plate Joint
- Finger Joint
- Closed Joints
- Compression Seal Joint
- Strip Seal Joint
- Modular Elastomeric Joint
Based on Application:
- Roadway Bridges
- Railway Bridges
Based on Region:
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa (MEA)
Thrive Locally, Act Globally: Request Your Custom Report For Insights Into Targeted Regional Segments. https://www.futuremarketinsights.com/customization-available/rep-gb-7396
Author:
Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
Contact Us:
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube
