Pedestrian Bridge Market Growth Forecasted to $142.3 Billion by 2031 | Skidmore, Mace, Arup Group
The pedestrian bridge market is growing at a CAGR of 4.6% forecast 2031
PORTLAND, OREGON, UNITED STATES, October 31, 2023 /EINPresswire.com/ — The global pedestrian bridge market size was valued at $90.3 billion in 2021, and is projected to reach $142.3 billion by 2031, growing at a CAGR of 4.6% from 2022 to 2031
The Pedestrian Bridge Market has witnessed a surge largely owing to increased investments in the development of public infrastructure such as roads. Government bodies provide pedestrian bridges for the communities to cross the roads. The rise in number of roads is positively influencing the pedestrian bridge market growth. In addition to this, surge in urban population is also driving need for pedestrian bridges. Depending on the length and load of traffic, pedestrian bridges are engineered and designed in different ways.
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Top Leading Companies: The Walsh Group, Backwoods Bridges LLC, Nature Bridges, Mace Group, Arup Group, Contech Engineered Solutions LLC, Skidmore, Owings & Merrill (SOM), IJP Corporation Ltd, Landmark Products Pty Ltd, Denton Corker Marshall.
This report analyses these types, which include truss bridges, beam bridges, suspension bridges, and arch bridges. Among these, the beam bridges segment dominated the pedestrian bridge market share in 2021, and the same segment is anticipated to dominate the pedestrian bridge market forecast at a significant CAGR during the forecast period. The dominance of this bridge type is attributed to its easy construction and maintenance, which eventually saves long term operation cost.
The global pedestrian bridge market has been steadily growing due to a confluence of factors. The need for safer and more efficient urban transportation systems, combined with a growing emphasis on sustainable infrastructure, has fueled the market’s expansion. Pedestrian bridges serve a dual purpose by improving both pedestrian safety and urban mobility. Pedestrian bridges enhance safety by providing a separate pathway for pedestrians, reducing the risk of accidents and collisions with vehicles. They also improve accessibility for individuals with disabilities, making the urban environment more inclusive.
Based on construction type, the pedestrian bridge market is divided into new construction and reconstruction & repair. Out of these two segments, the new construction segment contributed significantly to the total revenue generated in 2021, and the reconstruction and repair segment is expected to grow with a higher CAGR throughout the forecast period. On the basis of material, the market is divided into concrete, steel, and others.
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Among these, the steel segment accounted for a major share of revenue generated in 2021, and the others segment is expected to grow with a significant CAGR. Steel is easier to mold in different shapes, it is light in weight, and the pace of constructing with steel is relatively faster than concrete. The market is mainly driven by the rise in urbanization & urban infrastructure, growth in the tourism sector, and surge in number of roads.
Pedestrian bridges, often overlooked but integral to urban infrastructure, play a significant role in enhancing connectivity, safety, and aesthetics in our cities. As urban areas continue to grow and evolve, the pedestrian bridge market is experiencing a surge in demand and innovation. This blog post explores the pedestrian bridge market, its current trends, challenges, and future prospects. Collaborative efforts between architects, engineers, and local communities will result in bridges that are not just utilitarian but also functional public spaces, fostering a sense of community and belonging.
The pedestrian bridge market is an essential part of urban infrastructure, offering safe and efficient pathways for pedestrians while contributing to the aesthetic and sustainable aspects of a city. With technological advancements, sustainability at the forefront, and collaborative efforts shaping its future, the pedestrian bridge market is on the brink of exciting transformations, ultimately improving the quality of life in urban areas. As cities continue to evolve and grow, pedestrian bridges will play a vital role in shaping the way we move, interact, and experience our urban environments.
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Allied Analytics LLP
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