The global bridge expansion joints market has showcased a remarkable trajectory, surging to a notable valuation of US$ 1.1 billion in 2022 and poised for further growth to US$ 1.2 billion in 2023. Fueled by ongoing innovations in materials, design, and manufacturing, the market is anticipated to maintain a projected compound annual growth rate (CAGR) of 5.7% from 2023 to 2033, culminating in a formidable valuation of US$ 2.1 billion by 2033.
This robust growth narrative is anchored in pivotal factors such as the expanding global population, the increase in vehicular traffic, and heightened investments in global infrastructure projects. These dynamics underscore a persistent and resilient demand for bridge expansion joints – critical components crucial for ensuring the longevity and safety of our global transportation infrastructure.
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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.
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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)
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