Trusted Business Insights answers what are the scenarios for growth and recovery and whether there will be any lasting structural impact from the unfolding crisis for the U.S. Heavy Movable Bridges market.
Trusted Business Insights presents an updated and Latest Study on U.S. Heavy Movable Bridges Market. The report contains market predictions related to market size, revenue, production, CAGR, Consumption, gross margin, price, and other substantial factors. While emphasizing the key driving and restraining forces for this market, the report also offers a complete study of the future trends and developments of the market. The report further elaborates on the micro and macroeconomic aspects including the socio-political landscape that is anticipated to shape the demand of the U.S. Heavy Movable Bridges market during the forecast period.
It also examines the role of the leading market players involved in the industry including their corporate overview, financial summary, and SWOT analysis.
Industry Insights, Market Size, CAGR, High-Level Analysis: U.S. Heavy Movable Bridges Market
The U.S. heavy movable bridges market size was valued at USD 1,855.3 million in 2018 and is expected to register a CAGR of 13.0% from 2021 to 2026. Increasing commercial uses of bridges for both road traffic and waterways traffic, coupled with the growing investments focused on infrastructure development, are anticipated to drive the market growth over the forecast period.
Rapid modernization, industrialization, and favorable government initiatives are anticipated to boost the demand for heavy movable bridges in the country. For instance, the local governments in various U.S. states, including Illinois, New Jersey, Texas, and New York, are carrying out initiatives to expand the countrys infrastructure network and related innovations. These states are also focusing on developing new bridges and upgrading existing ones to ease traffic congestion, streamline transportation services, and increase economic opportunities in the country.
Movable bridges are widely adopted for commercially vital waterways owing to the design of these bridges, which enables them to change their position to provide waterway for vessels and ships. Moreover, movable bridges are engineered in such a way that they help reduce infrastructure costs and prove to be beneficial for managing both road and water traffic.
Technological advancements in fields such as robotics, automation, data communications & networking, and instrument & measurement are anticipated to boost the development of movable bridges in the U.S. over the forecast period. Such technologies are expected to support and enhance the mechanical and physical potential of these bridges in terms of conception, design, construction, and operations.
On the other hand, various political and regulatory challenges are expected to impact the production and development of commercial bridges in the country. The key components of heavy movable bridges, including bridge sections, pilings, expansion joints, and guardrails, are made up of steel. Changing tariffs imposed by the U.S. government on materials such as steel, which are used for fabricating such components, are likely to hinder the market growth over the forecast period.
Bridge infrastructure is mostly owned by private companies, public organizations, or government departments. In 2018, the public/government segment witnessed significant growth in the market, accounting for over 65% of the overall market share. The growth of this segment can be attributed to various infrastructure investments planned by the U.S. government from 2018 to 2022.
Consequently, several public-private partnerships have been formed due to the privatization of infrastructure in the country. These partnerships are focused on developing and upgrading flexible bridges for commercial purposes.Some of the key benefits of privatization with regard to public interest include incentivizing infrastructure improvement and innovation that scale up the competition among key market players in the country.
In 2018, the heavy movable bridges market in New York accounted for over 15% of the revenue share owing to significant investments focused on building and developing such infrastructure in the state. Several government policies and federal funding have been chalked out in the past few years to promote the commercial aspects of infrastructure development to foster waterfront businesses in the state.
Furthermore, with an increasing need for rehabilitation, repairs, and replacement of bridges, the state of Illinois is projected to witness substantial growth over the forecast period. The growing importance of improved transportation services coupled with an inclination of millennials toward travel & tourism has created a need for continuous infrastructure development among the local and federal governments. These factors are anticipated to drive the market growth over the forecast period.
Market Share Insights of U.S. Heavy Movable Bridges Market
The U.S. heavy movable bridges market is characterized by intense competition with the presence of a few predominant market players that own, operate, or maintain the bridge infrastructure across different states in the country. Some of the key players operating in the market include National Railroad Passenger Corporation and Subsidiaries (Amtrak), Burlington Northern Santa Fe, LLC (BNSF Railway Company), Canadian National Railway Company, Canadian Pacific, and CSX Corporation.
Companies such as Altra Industrial Motion Corp., AECOM, Champion Controls Inc., Eaton Corporation Plc., and Electro Hydraulic Machinery Co. support several operating functions related to flexible bridges in the country. In order to gain a higher revenue share and strengthen their customer base, majority of the companies are involved in mergers and acquisitions to improve their supply chain management.
Segmentations, Sub Segmentations, CAGR, & High-Level Analysis overview of U.S. Heavy Movable Bridges Market Research 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, this market research report has segmented the U.S. heavy movable bridges market report on the basis of end use and state:
End-Use Outlook (Revenue, USD Million, 2019 – 2030)
State Outlook (Revenue, USD Million, 2019 – 2030)
Quick Read Table of Contents of this Report @ U.S. Heavy Movable Bridges Market Size, Market Research and Industry Forecast Report, 2020-2026 (Includes Business Impact of COVID-19)
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