Road construction services refer to the construction and maintenance of effective transportation infrastructure. Road construction services rely on engineering, equipment, raw materials, and machineries for heavy construction to make a sustainable transportation infrastructure. Labor hiring, logistics, and procurement are the demands for construction of transportation infrastructure, which are fulfilled by road construction service providers. Road construction services are concerned with construction of highways, streets, and bridges. The construction can be for renovation, for maintenance or it could be a whole new construction from scratch. Government and public sector companies, both offer the service for road construction. Rise in number of vehicle has increased the road transportation, due to which it requires time to time maintenance and renovation based on requirement. This creates an aftermarket for the service providers of road construction which fuels the growth of the road construction service market at a global level.
COVID-19 Impact analysis
- COVID-19 pandemic has shut down the construction of various roads, attributed to the lockdown in countries worldwide. This has hampered the growth of the road construction services market in 2020 and, is likely to revive in 2021.
- COVID-19 has already affected the sales revenue of road construction services in the second and third quarter of 2020 and is reviving in 2021.
- The major demand for road construction services was previously noticed from countries including the U.S., Germany, China, and India, which are negatively affected by the spread of the corona virus, thereby declining the demand for road construction services.
Top Impacting Factors
Rise in number of vehicle is increasing the problem of traffic congestion, which disturbs the traffic management in big cities. To minimize this problem, construction of new roads, bridges and streets has to be done on need basis. This is one of the key factors driving the growth of the road construction services market. In addition, for development of rural areas, government of emerging economies such as India is investing heavily on road connectivity, which improves the communication. This is another factor which is boosting the growth of the road construction service market. Furthermore, privatization is helping in involvement of private companies in road and highway constructions. This factor is expected to create new opportunities for the road construction services market. To minimize the number of accidents, better quality of road and highways are required, which is boosting the demand for maintenance and reconstruction of existing roads. This fosters the growth of aftermarket of road construction services market.
Market Trends
- The Asia-Pacific region leads the region segment in the road construction service market. In Asia, China is dominating the road construction services market with highest revenue. In 2017, China allotted 30% of budget for transportation infrastructure. This trend shows the dominance of China in global road construction service market.
- India is a booming market for road construction services. In 2019, Ministry of Road Transportation and Highways developed a program to build national highways of 65,000 km across India which is expected to create opportunity for private sector companies.
- The road construction services market in the U.S. is comparatively less than China, but because of biggest geographical landscape, it holds an opportunities for the road construction services market.
Key Benefits of the Report
- This study presents the analytical depiction of the road construction services market along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the road construction services market share.
- The current market is quantitatively analyzed to highlight the road construction services market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides detailed road construction services market analysis based on competitive intensity and how the competition will take shape in coming years.
Road Construction Services Market Report Highlights
| Aspects | Details |
 By Type |
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 By Construction Type |
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 By Region |
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 Key Market Players | Hunan Road and Bridge Construction Group Co., Ltd.,, Dilip Buildcon Ltd.,, China Communications Construction Company Limited,, Granite Construction Inc.,, Sichuan Railway Investment Group Co. Ltd.,, Kiewit Corporation,, Sichuan Railway Investment Group Co. Ltd., The Lane Construction Corporation,, Tata Projects,, AFCONS Infrastructure, |
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