Steel Bridge Market will multiply at an impressive CAGR of 4% by 2027 & Top Key Players VINCI, Bechtel Corporation, Hochtief AG, Balfour Beatty, Skansa AB, Bouygues Construction, Ferrovial, Fluor Corporation, AECOM and Tata Steel

According to a recently published report by Research Nester on “Global Steel Bridge Market Outlook: Industry Insights & Opportunity Assessment 2019–2027” delivers detailed overview of the global steel bridge market in terms of market segmentation by kind of traffic carried, by main structural system, by position of carriageway 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.

Steel is highly resistant to extreme environmental conditions and can withstand natural disasters such as hurricanes and earthquakes. Steel does not warp, split, crack or creep and it is an isotropic material which makes it highly preferred construction material for bridges over conventionally used materials such as concrete. Increasing construction solutions provided by the steel makers for bridges is estimated to boost the growth of the global steel bridge market with a CAGR of 4% over the period 2019-2027.
The global steel bridge 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 showcase robust growth attributing to increasing demand for vehicles and increasing global connectivity between small islands and cities. The kind of traffic segment is divided into Road Bridges, Railway Bridges and road cum rail bridges. Main structural system segment is divided into suspension bridge, cable-stayed bridge, arch bridge, rigid frame bridge, plate and box bridge and truss girder bridge. Further, the position of carriageway segment is divided into deck type bridge, through type bridge and semi-through type bridge.

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Cost effectiveness of Steel Bridges to Boost the Demand

The global steel bridge market is thriving on the back of its cost effectiveness. 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.
Less construction time- The less construction time of steel bridges in comparison to construction of other material bridges such as concrete bridges minimizes the disruption of public mobility.

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 attain more than USD 30 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.

This report also provides the existing competitive scenario of some of the key players of the global steel bridge market which includes company profiling of VINCI, Bechtel Corporation, Hochtief AG, Balfour Beatty, Skansa AB, Bouygues Construction, Ferrovial, Fluor Corporation, AECOM and Tata Steel.
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 global 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.

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