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U.S. Heavy Movable Bridges Market Growth, 2025 | Industry Report

U.S. Heavy Movable Bridges Market Analysis Report By End Use, By State And Segment Forecasts From 2019 To 2025

Report ID: MN17619751  |  Published: May 2020  |  No of Pages: 64
Format: Electronic (PDF)  |  Industry: Construction  |  Publisher: Grand View Research

Industry Insights

The U.S. heavy movable bridges market size was accounted for USD 1,855.3 Million in 2018. It is anticipated to continue its growth with a CAGR of 13.0% during the forecasted years, 2019 to 2025. This growth can be attributed to rising usage of such bridges for waterways and roadways traffic. Moreover, huge investments being made across the infrastructure industry are expected to further fuel up the market demand in the upcoming years.

Several external factors like increasing industrialization, rapid urbanization coupled with favorable policies being implemented by the statutory governing bodies are projected to fuel up the market growth across U.S. during the forecast period. For example, several initiatives are being undertaken by the authorities of states like New York, New Jersey, Texas, and Illinois to promote innovation and to enhance the infrastructure network for improvement across the transportation sector.

U.S.heavy movable bridges market

These bridges help in enhancing the waterways for several cargo and vessel ships as they are movable and change their positions according to the requirement. Such bridges are being manufactured as they require low production cost coupled with their benefits for maintaining the water and road traffic simultaneously.

Various technical inventions like automation, robotics, instrumentation, and communication networks are being implemented while constructing such bridges. These advances are anticipated to enhance the physical and mechanical potential of the bridges across various dimensions like operations, conception, construction, and design.

However, stringent rules and regulations being implemented by regulating bodies are anticipated to hinder the market growth for movable bridges across U.S. The major components of movable bridges include pilings, bridge sections, guard rails, and expansion joints which are being manufactured using steel. Thus, price fluctuations of such raw materials required for fabrication are expected to restrict the market growth.

End-Use Insights

In 2018, the end-use segment of the public/ government dominated the U.S. heavy movable bridges market with the largest share of more than 65% across the overall market. This growth can be associated with the number of investments being made across the infrastructure sector by U.S. government in the upcoming years.

U.S.heavy movable bridges market share

On the other hand, the privately-owned segment in U.S. is also anticipated to witness significant growth during the forecasted years owing to formulation of several private-public partnerships across infrastructure industry. Such partnerships are done for upgrading and developing flexible bridges that are used for commercial purposes. This privatization across the construction activities helps in improvement of the infrastructure thereby fueling up the demand for such bridges.

Geographical Insights

In 2018, New York held the share of over 15% across the U.S. market due to rising investments being made for infrastructure projects across the state. Moreover, federal funding and favorable governmental policies for development of commercial infrastructure is anticipated to foster the market growth of heavy movable bridges across the states.

Illinois is anticipated to register the highest growth from 2019 to 2025. This can be attributed to rising need for replacement, repair, and rehabilitation of the bridges across the state. In addition, rising need for enhanced transportation services coupled with the attraction for tourism among the millennial population is expected to surge up the demand for immovable bridges in the upcoming years.

COVID-19 Impact Insights

The heavy movable bridges market across the U.S. has been hindered due to the ongoing COVID-19 pandemic. Travel restrictions and the imposition of lockdown across the majority of the states have hampered the growth of the infrastructure sector. Also, suspensions or delays in the construction activities owing to the lack of availability of skilled labor have impacted the U.S. heavy movable bridges market. Moreover, as the U.S. has been severely impacted due to the novel coronavirus, economic and political tensions have been on the rise. But, the rising need to encourage infrastructure activities and the increasing popularity of such bridges is anticipated to propel the market growth over the post-pandemic period.

U.S. Heavy Movable Bridges Market Share Insights

The market is competitive in nature due to presence of predominant players that help the maintenance, operations, and construction of bridges. Some of the key players in the market are the Canadian Pacific, and CSX Corporation.

In addition, other players like AECOM; Eaton Corporation Plc.; Altra Industrial Motion Corp.; and Champion Controls Inc. play a major role in supporting the operational functions of flexible bridge in U.S. They are also engaged in implementing various marketing strategies like mergers and acquisitions to gain a competitive advantage over other players.

Report Scope

Attribute

Details

Base year for estimation

2018

Actual estimates/Historical data

2015 - 2017

Forecast period

2019 - 2025

Market representation

Revenue in USD Million and CAGR from 2019 to 2025

Country Scope

U.S.

Report coverage

Revenue forecast, company share, competitive landscape, and growth factors and trends

15% free customization scope (equivalent to 5 analyst working days)

If you need specific information, which is not currently within the scope of the report, we will provide it to you as a part of customization


Segments Covered in the Report

This report forecasts revenue growth at the country level and provides an analysis of the latest industry trends from 2015 to 2025 in each of the sub segments. For the purpose of this study, Million Insights has segmented the U.S. heavy movable bridges market report based on end-use and state:

• End-Use Outlook (Revenue, USD Million, 2015 - 2025)
    • Public/ Government
    • Privately-owned

• State Outlook (Revenue, USD Million, 2015 - 2025)
    • Connecticut
    • Florida
    • Illinois
    • New York
    • New Jersey
    • North Carolina
    • Texas
    • Others

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