The transportation infrastructure market was valued at $1,770 billion in 2021 and is projected to reach $3,606.8 billion by 2031, registering a CAGR of 7.2%
PORTLAND, UNITED STATES, UNITED STATES, June 21, 2023/EINPresswire.com/ — The transportation infrastructure market is a rapidly growing sector of the global economy. In recent years, governments around the world have been investing heavily in their transportation infrastructure, as they recognize its importance in connecting people, goods, and services across countries and continents. From roads and bridges to airports and railways, the transportation infrastructure market is providing a much-needed boost to the economy.
According to the report published by Allied Market Research, the global transportation infrastructure market was estimated at $1,770 billion in 2021 and is expected to hit $3,606.8 billion by 2031, registering a CAGR of 7.2% from 2022 to 2031. The report provides a detailed analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive landscape, and evolving market trends. The market study is a helpful source of information for the frontrunners, new entrants, investors, and shareholders in crafting strategies for the future and heightening their position in the market.
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Key companies profiled in the transportation infrastructure market report include ACS Group, Balfour Beatty plc, Bechtel Corporation, Bouygues Construction SA., CK Hutchison Holdings, Globalvia Inversiones SA, kiewit Corporation, laing o’rourke, Larsen & Toubro Ltd and Vinci SA.
The most important aspect of the transportation infrastructure market is its ability to improve the movement of people and goods across the globe. This is why governments are investing heavily in this sector, as it can help to reduce traffic congestion, reduce emissions, and increase economic activity. In addition, the transportation infrastructure market can also help to create jobs, improve public safety, and reduce the amount of energy consumed by transportation.
In addition to the government, private companies are also investing heavily in the transportation infrastructure market. Companies are working to develop new technologies and build better roads and bridges, as well as improving existing ones. This is helping to improve the efficiency of transportation and increase the speed of delivery services. Companies are also investing in new technologies to make transportation faster and more reliable, as well as reduce the amount of energy consumed by transport.
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The key driver that supports the market raises the demand for transportation due to globalization. Transportation is one of the crucial sectors of any country’s economy. It is involved in supporting the extensive movement of passengers and cargo within and outside its borders. Cargo transportation, such as raw materials, parts, and finished items, due to national & international trade has facilitated considerable diversity, affordability, and availability of goods in various countries. Moreover, the worldwide market is likely to get benefitted from increased government expenditures in port infrastructure to promote safe and efficient commercial activity.
In addition, the growth and need for liquefied natural gas exports via marine transport is likely to contribute to a rise in demand for the industry. Furthermore, numerous sectors rely on marine shipping to import and export commodities throughout the world. Transporting products by air is more expensive than transporting commodities by water. Thus, this is likely to drive market demand even more that further help in increasing transportation infrastructure market size.
The transportation infrastructure market is also creating new business opportunities, as companies capitalize on new technologies and products. Companies are also investing in research and development to create more efficient transportation systems. This is helping to reduce the cost of transportation, improve safety, and reduce emissions.
Overall, the transportation infrastructure market is a growing sector of the global economy and is helping to improve the movement of people and goods across the globe. Governments, companies, and individuals are all benefiting from this market, as it helps to reduce traffic congestion, reduce emissions, and increase economic activity.
The transportation infrastructure market is segmented on the basis of type, application, construction type and region. By type, the market is fragmented into railway, airport, roads & bridges and ports. By application, the market is categorized into urban and rural. By construction type, the market is divided into new construction and renovation By region, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, the UK, France, Italy, and rest of Europe), Asia-Pacific (China, India, Japan, South Korea, and rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa).
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