Portable Steel Bridge Market Size, Share, Growth, and Industry Analysis, By Type (Panel Bridge, Arch Bridge, Others), By Distribution (Military Use, Civilian Use), Regional Insights and Forecast to 2031

Updated On: 22 April 2024

PORTABLE STEEL BRIDGE MARKET REPORT OVERVIEW

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The global portable steel bridge market size was USD 600 million in 2022 and the market is projected to touch USD 898.6 million by 2029, exhibiting a CAGR of 4.5% during the forecast period.

The upcoming years should see a considerable increase in the portable steel bridge market share for heavy-movable bridges. The bridges are becoming more and more in demand as a result of increased urbanization, industrialization, and the necessity for efficient transportation infrastructure. In order to accommodate the increasing amounts of traffic and guarantee the safe passage of people and products, governments as well as private organizations are investing in the building and renovation of infrastructure, including bridges.

There are plenty of commercial prospects for the continued upkeep, restoration, and repair of big moveable bridges that are currently in use. Infrastructure organizations are focusing heavily on modernizing old bridges to satisfy safety and operational standards.

COVID-19 Impact: Decrement in Sales of Construction Materials to Deplete Market Share

The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden market growth reflected by the rise in CAGR is attributable to market’s growth and demand returning to pre-pandemic levels.

Numerous construction services, such as outsourcing, consulting, and personnel assistance for the building sector, have been impacted by coronavirus. The entire construction services business is expected to grow less rapidly worldwide due to the unfavorable economic trends in China, India, and certain industrialized nations.

Since the corona epidemic in December 2019, there has been a significant decline in the demand for new building materials as manufacturers and investors have become concerned about a too slowing rate of economic growth. Over the duration of the present economic year, sales of building supplies have decreased and slowed down globally due to decreased demand from consumers and consumption. As a result, it is anticipated that the market for heavy-moving bridges would suffer in 2020.

LATEST TRENDS

"Trend Towards Sustainable Development to Stimulate Market Development  "

The market is also expected to benefit from the worldwide trend toward sustainable development. Globally, governments are concentrating on energy- and environmentally-friendly transportation options. The portable bridges are in line with sustainable development objectives because of their capacity to support many forms of mobility and lessen traffic.

PORTABLE STEEL BRIDGE MARKET SEGMENTATION

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• By Type

Based on type the global market can be categorized into panel bridge, arch bridge, others.

Panel Bridge: A modular bridge structure with a maximum span of 61 meters is called a panel bridge. These components, which are made of steel panels, are joined by pins. Panel bridge installations don't require specialized tools or large machinery, and a crew of just six operators can execute all of these tasks.

Arch Bridge: A bridge with curving arch-shaped abutments at both ends is called an arch bridge. When an arch bridge is in operation, its weight and its stresses are partly transferred into an upward thrust that is constrained by the abutments on both sides.

Others: This category consist of bascule bridge, vertical-lift bridge, transporter bridge, folding bridge. A swing bridge constitutes a moving bridge with a vertical fixing pin along with a support ring serving as its main structural supports.

• By Application

Based on application the global market can be categorized into military use, civilian use.

Military Use: Military use bridges are temporary structures that must typically be built quickly by military engineers using readily accessible materials, frequently while under fire. Historically, pontoon bridges—floating bridges supported by stationary boats—were the earliest varieties.

Civilian Use: The term "civilian" is used to refer to non-military individuals or objects in a military context.

DRIVING FACTORS

"Need for Improved Transportation Infrastructure to Support Market Expansion  "

The demand for movable bridges is being driven by the need for improved transportation infrastructure and rapid urbanization. There is a growing emphasis on building bridges that can support many kinds of transportation as cities grow and traffic volumes rise.

Novel movable bridge concepts have been developed as a result of improvements in bridge construction and building methods. Modern materials, detectors, and automation technologies are used in these bridges to increase operating effectiveness and lower maintenance needs.

"Incorporation in Water Transportation Systems to Foster Industry Progress     "

For canal transportation, movable bridges serve a purpose because they allow vessels to go through and guarantee the smooth flow of maritime commerce. By allowing ships and boats to pass through, these bridges help water transportation systems run more smoothly. A lot of the existing bridges need to be upgraded in order to fulfill the needs of contemporary transportation. When replacing or renovating older bridges, heavy movable bridges provide a practical way to increase the bridges' capacity and functionality.

RESTRAINING FACTOR

"High Funding Requirement to Stop Market Evolution   "

The movable bridge installation and construction require a large initial outlay of funds. Engineering design, manufacturing, shipping, installation, and continuing maintenance are all included in the price. These funding needs might be difficult to meet, especially for construction endeavors with tight budgets.

PORTABLE STEEL BRIDGE MARKET REGIONAL INSIGHTS

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"North America Rule over Marketplace Owing to Widespread Utilization of Technologies   "

The market is primarily segregated into Europe, Latin America, Asia Pacific, North America, and Middle East & Africa.

The industrial sector's infrastructure improvements in the North America have raised the demand and need for sophisticated bridge technologies and also expanding the portable steel bridge market share. Growing concerns about traffic management have further fueled market demand. Furthermore, because they retract to create room for huge container ships, movable bridges are frequently used to control traffic flow across commercial rivers. Over the course of the projection period, it is expected that the aforementioned variables will support the industry's growth.

KEY INDUSTRY PLAYERS

"Key Players Focus on Partnerships to Gain a Competitive Advantage"

Prominent market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolios.

The analyst provides a comprehensive picture of the market through the study, synthesis, and summarization of data from various sources, as well as an examination of important variables such as financial gain, sales prices, competition, and promotions. It identifies the key industry influencers and presents various market facets. The information provided is thorough, reliable, and the result of extensive primary and secondary research. The market report provides a comprehensive competitive landscape as well as an in-depth vendor evaluation methodology and analysis based on both qualitative and quantitative studies to accurately forecast market growth.

The reports cover important advances with in market, as well as inorganic and organic growth strategies. Various companies are concentrating on organic business expansion such as product announcements, product approvals, and other things like patents and events. Acquisitions, partnerships, and collaborations were among the inorganic growth strategies observed in the market. The above activities have paved the way for market participants to expand their business and customer base. With the growing demands for filter products in the international market, market participants in the market are expected to benefit from substantial growth opportunities in the near future.

List of Market Players Profiled

• Algonquin Bridge (U.S.)
• Armtec (Canada)
• Arup (U.K.)
• LafargeHolcim (Switzerland)
• Larsen & Toubro (India)
• Milbocker & Sons, Inc (U.S.)
• Pioneer Bridges (U.S.)
• Rocla (South Africa)
• Taisei Corporation (Japan)
• Tricon Precast (U.S.)
• TrueNorth Steel (U.S.)
• Valmont Structures (U.S.)
• Wheeler (U.K.)

INDUSTRIAL DEVELOPMENT

March 2023: A billion capital investment was announced by BNSF Railway Company. The financial commitment is primarily intended to support and propel the business's growth and efficiency objectives.

REPORT COVERAGE

This research offers a thorough analysis of the global market, covering all relevant areas. This includes everything from a broad market overview to micro-level information about size of the market, degree of competition, evolution trend, opportunities in the market, important market drivers, and SWOT opportunities and threats. The reader can use the study to influence industry competitiveness and competitive environment strategies to increase potential profit. Additionally, it offers a straightforward framework for assessing and gaining access to the situation of the corporate organization.

In a nutshell, this study should be read by all market participants, traders, academics, analysts, business planners, and anyone else with an interest in the market. The market competitive landscape is another area that the report structure focuses on. This report presents in depth information the share of the market, macroeconomic indicators, product scenario, operation circumstances of the major players, which aids readers in the industry in recognizing the key rivals and better understanding the market's competitive landscape.