The global bridge expansion joints market is anticipated at USD 1.1 billion in 2022. Demand is likely to remain high for bridge expansion joints during the assessment period. This is due to the rapid technological advancement in terms of materials, design, and manufacturing techniques garnering USD 1.2 billion in 2023, recording a CAGR of 5.7% from 2023 to 2033. The market is likely to secure USD 2.1 billion in 2033.
| Data Points | Key Statistics |
|---|---|
| Bridge Expansion Joints Market Size Value in 2023 | USD 1.2 billion |
| Bridge Expansion Joints Market Forecast Value in 2033 | USD 2.1 billion |
| Global Growth Rate | 5.7% |
| Forecast Period | 2023 to 2033 |
Key Factors Shaping the Demand Outlook of the Bridge Expansion Joints Industry:
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| Historical CAGR (2018 to 2022) | 5.4% |
|---|---|
| Forecasted CAGR (2023 to 2033) | 5.7% |
The global bridge expansion joints market is estimated to be worth USD million in 2021. The market is expected to register a CAGR of % during the forecast period from 2021 to 2031.
Growing population, rising number of vehicles, and increasing spending on infrastructural activities across both developed and developing countries are some of the factors driving the bridge expansion joints market.
Technological advancements have led to the development of flexible, cost-effective, long-lasting, waterproof, and noise-reduction bridge expansion joints that can accommodate movements in all directions, of overhead structures with minimum load transmission to decks or slabs.
Closed-type bridge expansion joints are dominating the global bridge expansion joints market. They are being used extensively in roadway bridge applications, where movement ranges greater than or equal to 2.5 inches.
The global bridge expansion joints market is expected to grow at a CAGR of 5.7% during the forecast period. Advancements in manufacturing techniques and the strong outlook of the construction and transportation industries are expected to set a firm platform for the growth of the global bridge expansion joints market.
Increasing Investment in Research & Development Activities to Drive the Growth of the Bridge Expansion Joints Market During The Forecast Period.
Key companies operating in the market are investing heavily in research and development activities. They are striving towards testing new products & technologies. Product launches and product approvals, mergers and acquisitions, advanced product development, alliances, and collaborations are some of the strategies employed by these companies to gain a competitive edge in the market.
For instance, in 2020 Watson Bowman Acme(WBA) bridge sector team secured significant long-term expansion joint work on what is being called “The Mother of all highway construction projects” in Miami, Florida. WBA will be supplying over 4,000 LF of Wabo®SiliconeSeal and 3,000 LF of Wabo®StripSeal.
Similarly, in 2020 Sika, a global leader in waterproofing, specialty construction, and industrial materials acquired expansion joint and precompressed sealant manufacturer EMSEAL Joint Systems Ltd.
Growth in Transportation Infrastructure Spending Driving Bridge Expansion Joints Demand
Transport infrastructure spending is projected to grow expressively in the coming years, owing to the increasing population and increase in the demand for local commutes. MEA (Middle East and Africa) is estimated to witness a significant growth rate in terms of transport infrastructure in the coming years.
Moreover, Asia Pacific remains the largest market in terms of transportation infrastructure with increasing investments towards the development of transport infrastructure in the region.
Growing transportation infrastructure spending across the developed and developing economies surges the demand for bridge expansion joints over the forecast period.
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The global bridge expansion joint market is expected to be dominated by North America. The global bridge expansion joint market is expected to be dominated by North America.
The market is anticipated to expand at a CAGR of 5.6% and is expected to accumulate a market value of USD 1.9billion over the forecast period. Unites states are expected to account for the largest share of the American region.
The advancements in materials, design, and manufacturing techniques. Innovations aim to improve the performance, durability, and ease of installation of expansion joints, likely to drive the bridge expansion joints market in North America.
Redevelopment of Aging Infrastructure in the Region to Boost the Growth of the Market
The bridge expansion joint sales in the United Kingdom are expected to keep rising with a CAGR of 5.4% and are expected to gain a market value of USD1.8 billion by the end of the forecast period.
Many bridges in Europe have surpassed their expected lifespan and require rehabilitation or replacement. This aging infrastructure drives the demand for new expansion joints to ensure the safety and longevity of bridges. The increased need for efficient and reliable transportation systems contributes to the bridge expansion joint market growth.
Rapid Urbanization to Drive the Growth of the Market in China
China’s bridge expansion joint market is expected to rise at 5.6% CAGR between 2023 to 2033. The market is expected to gain a market value of USD 2.0 billion by the end of the forecast period.
China leads the global bridge expansion joints market as a result of growing investments in transportation and infrastructure development. The market in China is anticipated to hold nearly one-fifth value share in the global market during the forecast period.
Increasing government initiatives to develop smart cities, coupled with growing investments in transportation and infrastructure development in the region, are expected to drive the growth in demand for bridge expansion joints.
The construction industry still accounts for a major share of China’s GDP. China alone is building over one-fourth of all the infrastructure worldwide and thus, consumes and produces a major share of construction aggregates, materials, and components globally. This will further surge the demand for bridge expansion joints over the forecast period.
Established transportation and railway sectors in the region along with increasing industrialization and urbanization are slated to provide a firm platform for growth in the bridge expansion joints market.
Closed Joints Segment to Dominate the Market
Closed-type bridge expansion joints primarily comprise compression seal joints, strip seal joints, modular elastomeric joints, and poured joints. The closed-type bridge expansion joints segment is anticipated to dominate the global bridge expansion joints market in terms of value during the entire forecast period.
Closed bridge expansion joints find extensive usage where movement ranges greater than or equal to 2.5 inches. This usage characteristic makes them preferable for use primarily in roadway bridge applications.
Amongst closed-type bridge expansion joint segments, the strip seal joints segment is expected to register 1.05X faster growth than the compression seal joints segment during the study period.
Open-type bridge expansion joints are expensive when compared with closed-type bridge expansion joints and the difference is significantly moderate for some specific applications. As of 2022, the market share of closed bridge expansion joints is about 1.2 to 1.4 times higher than that of open bridge expansion joints in terms of value.
The Roadway Bridges Segment is slated to exhibit Above-Average Growth
Amongst all the applications analyzed in the global bridge expansion joints market study, the roadway bridges segment is expected to hold a dominant share throughout the forecast period. The segment is estimated to register about 1.02X of the overall growth in terms of value.
Increasing bridge construction activities across developed and developing economies are expected to offer new growth opportunities for the manufacturers of bridge expansion joints across the globe.
In terms of absolute $ opportunity, the roadway bridges segment is expected to hold more than 80.5% of the total absolute $ opportunity created by the global bridge expansion joints market
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Some of the startup players and their recent development in the Bridge Expansion Joints market are listed below-
Prominent players covered in the global bridge expansion joints market include 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., Zaoqiang Dacheng Rubber Co., Ltd., RJ Watson, Inc., Tensacciai S.r.l., Maurer SE and Watson Bowman Acme Corp.
The global bridge expansion joints market is highly fragmented with the presence of several global as well as regional players across the globe. Globally, the top 15 players in the global bridge expansion joints market collectively hold between 40% and 45% share of the overall market in terms of value.
In the recent past, the bridge expansion joints market has witnessed substantial developments from the competition perspective. Expansion, acquisitions, and collaborations are some of the strategies opted by key players to expand and sustain in the global bridge expansion joints market.
| Report Attribute | Details |
|---|---|
| Growth Rate | CAGR of 5.7% from 2023 to2033 |
| Market Value in 2023 | USD 1.2 billion |
| Market Value in 2033 | USD 2.1 billion |
| Base Year for Estimation | 2022 |
| Historical Data | 2018 to 2022 |
| Forecast Period | 2023 to 2033 |
| Quantitative Units | Revenue in USD Billion and CAGR from 2023 to 2033 |
| Report Coverage | Revenue Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
| Segments Covered | Type, Application, Region |
| Regions Covered | North America; Latin America; Europe; Asia Pacific; Middle East and Africa |
| Key Countries Profiled | United States, Canada, Brazil, Mexico, Germany, United Kingdom, France, Spain, Italy, China, Japan, South Korea, Singapore, Thailand, Indonesia, Australia, New Zealand, GCC, South Africa, Israel |
| Key Companies Profiled | Trelleborg AB; Canam Group Inc.; Ekspan Ltd.; Freyssinet Limited; Granor Rubber & Engineering Pty. Limited; Gumba GmbH & Co. KG; Kanta Flex; Zaoqiang Dacheng Rubber Co., Ltd.; Mageba SA; Metal Engineering & Treatment Co. Pvt. Ltd. |
The global bridge expansion joints market is segmented on the basis of type, application, and region.
The market is valued at USD 1.2 billion in 2023.
Trelleborg AB, Canam Group Inc., and Ekspan Ltd. are the key players in the market.
The market is estimated to reach USD 2.1 billion by 2033.
A rise in transportation infrastructure spending is expected to drive the market prospects.
The closed joints segment is likely to remain preferred through 2033.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Type 5.1. Open Joints 5.1.1. Butt Joint 5.1.2. Sliding Plate Joint 5.1.3. Finger Joint 5.2. Closed Joints 5.2.1. Compression Seal Joint 5.2.2. Strip Seal Joint 5.2.3. Modular Elastomeric Joint 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Application 6.1. Roadway Bridges 6.2. Railway Bridges 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 7.1. North America 7.2. Latin America 7.3. Europe 7.4. Asia Pacific 7.5. MEA 8. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 9. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 10. Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Asia Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. MEA Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. Key Countries Market Analysis 14. Market Structure Analysis 15. Competition Analysis 15.1. Trelleborg AB 15.2. Canam Group Inc. 15.3. Ekspan Ltd. 15.4. Freyssinet Limited 15.5. Granor Rubber & Engineering Pty. Limited 15.6. Gumba GmbH & Co. KG 15.7. KantaFlex 15.8. Zaoqiang Dacheng Rubber Co., Ltd. 15.9. Mageba SA 15.10. Metal Engineering & Treatment Co. Pvt. Ltd. 16. Assumptions & Acronyms Used 17. Research Methodology
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Bridge Expansion Joints Market
