The bridge expansion joints sales will accelerate at 1.5x in the next ten years, reaching the market valuation of around US$1500 Mn by the end of 2031. Implementation of bridge preservation partnership programs between original equipment manufacturers (OEMs) and end users will drive the market, yielding a year-on-year (YoY) growth rate of 3% in 2021.
In 2021, the market for bridge expansion joints is anticipated to be worth USD 990,8 million. During the forecast period of 2021 to 2031, the market is anticipated to post a CAGR of 5.5%.
Increasing spending on infrastructure projects, an increase in the number of vehicles on the road, and rising population numbers in both developed and developing nations are some of the factors propelling the bridge expansion joints market.
The development of flexible, affordable, durable, waterproof, and noise-reducing bridge expansion joints that can accommodate movements of overhead structures in all directions with the least amount of load transmission to decks or slabs is a result of technological advancements.
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.
The demand for bridge expansion joints is anticipated to rise as a result of growing government initiatives to create smart cities and rising regional investments in infrastructure development and transportation.,
A significant portion of China’s GDP is still attributable to the construction sector. Over one-fourth of the world’s infrastructure is being built by China alone, which consumes and produces a sizable portion of the world’s construction aggregates, materials, and components. Over the forecast period, this will further increase demand for bridge expansion joints.
The region’s developed railroad and transportation sectors, along with rising industrialization and urbanization, are expected to provide a stable foundation for growth in the bridge expansion joints market.
Apart from North America, Western Europe, and Japan, all other regions are expected to gain market value share by the end of the forecast period. Collectively, the Middle East & Africa, and Latin America are projected to register a CAGR of 14.8% by value, which is 2.1X less than the collective growth of all other regions.
Bridge Expansion Joints Market: Segmentation
The global bridge expansion joints market is segmented based on type, application and region.
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
- Western Europe
- Eastern Europe
- South East Asia (SEA) & Pacific
- Middle East & Africa (MEA)