The New River Gorge Bridge and railway in West Virginia, US. (Image: Adobe Stock)

Measured at a value of $113.6 billion in 2024, the forecasting organisation said the sector size will reach $153.6 billion by 2029.

“The key factors propelling market expansion are the rising volume of traffic on the roads and the expanding number of automobiles,� said Research and Markets.

“In addition, the need for railway bridges is increasing as a result of the growth of rail networks and the increasing emphasis on public-private partnerships for the development of transportation infrastructure.�

The report noted strengths in Asia-Pacific and posited that other regions emphasising railway infrastructure builds will also see growth in the segment.

“Due to rising urbanisation and increased investments in infrastructure, the Asia-Pacific region is anticipated to hold a disproportionately large share of the worldwide bridge-building market throughout the study period,� stated the report.

“Most of the major infrastructure projects in development were railway lines, such as the ones in Norway and Sweden, the UK, the US, Asia and South-East Asia, and Japan.�

India was listed as the country with the most infrastructure projects valued at more than $25 million.

Regarding Asia-Pacific, the report said the region is set to ‘dominate� the bridge-building market. “Urbanization, population increase, and economic development all contribute to the urgent demand for new and upgraded infrastructure,� it stated.

China topped the list of countries with highest overall value of infrastructure projects in-development or execution above $25 million at a value more than $5 trillion. The US and India were roughly half that value, at about $2 trillion each.