According to a new market research report published by Credence Research “Global Bridge Expansion Joints Market (Type (Open, Closed), Application (Roadway Bridges, Railway Bridges)) – Growth, Future Prospects and Competitive Analysis, 2019 - 2027”, the overall bridge expansion joints market worldwide is set to grow with a CAGR of more than 5.9% during the forecast period from 2019 to 2027, starting from US$ 856.5 Mn in 2018.
The factors contributing to the growth of bridge expansion joints market include rapid urbanization, growing economies and rapid infrastructure development in various developed and developing countries. Governments across the globe are investing in development of smart cities, infrastructure improvement, and development of innovating new ways to connecting the roadways. This is creating demand for improved techniques that strengthen the structures being developed. These and many such factors make bridge expansion joints an integral part of every major project that is undertaken.
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Moreover, advantages associated with the bridge expansion joints, and technological advancements have in manufacturing techniques, are driving the growth of bridge expansion joints market across the globe. However, high cost of the technology, and low affordability in low income countries are some of the factors that are likely to restrain the growth of this market during the forecast period.
Some of the major companies profiled in the report include Canam Group Inc., Gumba GmbH & Co. KG, Mageba SA, KantaFlex (India) Private Ltd, Granor Rubber & Engineering, Metal Engineering & Treatment Co. Pvt. Ltd., Ekspan Ltd., RJ Watson, Inc., Freyssinet Limited, Zaoqiang Dacheng Rubber Co., Ltd., Trelleborg AB, Tensacciai S.r.l., Watson Bowman Acme Corp, and Maurer SE among others.