Dublin, June 08, 2023 (GLOBE NEWSWIRE) -- The "Pedestrian Bridge Market by Type, Construction Type, Material: Global Opportunity Analysis and Industry Forecast, 2021-2031" report has been added to ResearchAndMarkets.com's offering.
According to this report the global pedestrian bridge market was valued at $90.3 billion in 2021, and is estimated to reach $142.3 billion by 2031, growing at a CAGR of 4.6% from 2022 to 2031.
Key Market Players
- Backwoods Bridges LLC
- Denton Corker Marshall
- IJP Corporation Ltd
- Arup Group
- Skidmore, Owings & Merrill (SOM)
- Mace Group
- Landmark Products Pty Ltd
- Nature Bridges
- The Walsh Group
- Contech Engineered Solutions LLC
A pedestrian bridge is a type of infrastructure typically made of concrete, steel, and other materials such as wood, and composite materials. It is used by people moving on foot and by cyclists to cross roads, rivers, valleys, and others. In addition, to its greater benefits in urban areas, countries also build attractive pedestrian bridges to attract tourists.
Key factors driving the growth of the pedestrian bridge market include rising urbanization and urban infrastructure, rise in tourism, and increasing number of roads. Urbanization across the globe is rising significantly, which drives the pedestrian bridge market growth.
According to the UN, in 2018, about 4.2 billion people lived in urban areas, which is expected to grow close to 7 billion in 2050. Asia and Africa, especially the countries such as India and China, are anticipated to contribute majorly to the rising urbanization in the next 30 years.
For instance, in 2010, about 31% of India's population lived in urban areas, which increased to 35% in 2021. Pedestrian bridges are widely constructed in urban areas owing to a larger population that requires safe and unobstructed access through any city having busy roads, rivers, and a large number of public and private infrastructure.
For instance, in June 2020, the New York City authorities proposed a plan to build a 20 ft wide bridge between Queens and Manhattan, only for pedestrians and cyclists. In addition to this, modern building infrastructures also include pedestrian bridges between the buildings. For instance, a building complex with two buildings, named 'Maestria Condominiums' in Montreal, Canada, is planned to have a 110 ft pedestrian walkway between the 26th floors of the two buildings. Therefore, with the growing urban population, the demand for pedestrian bridges is expected to increase during the forecast period.
The market also offers growth opportunities to the key players in the market. The pedestrian bridge industry is experiencing growth especially due to the development of pedestrian bridges that are made with lightweight materials using the latest manufacturing technologies.
For instance, in August 2021, the Dutch robotics company MX3D installed the world's first 3D-printed footbridge in Amsterdam. Similarly, another large-scale additive manufacturing firm XtreeE, specializing in 3D printing of concrete structures has been awarded a contract for building a 3D printed concrete pedestrian bridge for the 2024 Olympic Games in Paris. The company claims it to be the world's first integration of 3D structural concrete printing and Industry 4.0 to form a new "infrastructure typology". Moreover, recycling of other materials to construct pedestrian bridges is also becoming mainstream.
For instance, in February 2022, Rewind, a company involved in constructing pedestrian bridges, constructed a new pedestrian bridge made with recycled wind turbine blades in County Cork, Ireland.
Key Benefits For Stakeholders
- The report provides an extensive analysis of the current and emerging pedestrian bridge market trends and dynamics.
- In-depth market analysis is conducted by constructing market estimations for the key market segments between 2021 and 2031.
- Extensive analysis of the pedestrian bridge market is conducted by following key product positioning and monitoring of the top competitors within the market framework.
- A comprehensive analysis of all regions is provided to determine the prevailing opportunities.
- The global pedestrian bridge market forecast analysis from 2022 to 2031 is included in the report.
- The key market players within the pedestrian bridge market are profiled in this report and their strategies are analyzed thoroughly, which help understand the competitive outlook of the pedestrian bridge industry.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 303 |
| Forecast Period | 2021 - 2031 |
| Estimated Market Value (USD) in 2021 | $90341.4 million |
| Forecasted Market Value (USD) by 2031 | $142305.3 million |
| Compound Annual Growth Rate | 4.6% |
| Regions Covered | Global |
Market Dynamics
Drivers
- Rising Urbanization and Urban Infrastructure
- Rise in tourism
- Increasing number of roads
Restraints
- Fluctuating cost of raw materials
- Frequent Maintenance
Opportunities
- Technological developments in the industry
Key Market Segments
By Type
- Truss bridges
- Beam bridges
- Suspension bridges
- Arch bridges
By Construction Type
- New Construction
- Reconstruction and Repair
By Material
- Concrete
- Steel
- Others
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- UK
- Italy
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
For more information about this report visit https://www.researchandmarkets.com/r/lqbdl8
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