Dec. 10, 2012
/PRNewswire/ -- Reportlinker.com announces that a new market research report is available in its catalogue:
The U.S. Road, Bridge & Tunnel Construction Market
The U.S. road construction market continues to suffer even as the country recovers from the recession. The completion of most American Recovery and Reinvestment Act-funded projects, coupled with the lack of a long-term transportation bill through 2010 and 2011, caused overall spending on road, bridge and tunnel construction to drop by 4.4% between 2009 and 2011. While 2010 and 2011 have been strong years for bridge and tunnel construction, the lack of funding for road construction and reconstruction has pulled the entire market down. These trends have continued into 2012, although SBI Energy expects total road, bridge & tunnel market to be up 0.6% over 2011 to reach a total of
for the year.
In the short term, there will be a small market improvement due to certainty in funding because of the new federal highway bill (MAP-21) passed in
. The legislation means that states are more likely to start and fund medium scale projects (less than five years) with funding levels assured through FY2014. However, long-term market prospects remain difficult as both state and federal governments refuse to increase their respective gas taxes or implement other use-based funding schemes.
Without expanded user-based fees, states will have to use more and more of existing funding to maintain existing infrastructure, and make more use of alternative financing schemes such as public-private partnerships (P3), state infrastructure banks and tolling to finance new construction. This will limit growth through the decade for all three segments of the road construction market.
The result is that the U.S. road, bridge and tunnel construction market will show only slight growth through 2014, and market growth over the next decade will continue to be lower than the moving ten-year average over the last 90 years. By 2022, the market will reach
, posting a compound annual growth rate (CAGR) of 4.8% between 2013 and 2022.
The U.S. Road, Bridge & Tunnel Construction Market by SBI Energy provides key insight into current and future construction trends for the nation's road infrastructure, with a particular emphasis on bridge and tunnel construction segments and an analysis of key states. The analysis includes definitions, current product offerings and market detail on the following segments:
- Road construction, including lane widening, resurfacing and rehabilitation
- Bridge construction and rehabilitation
- Tunnel & wall construction
The report also studies the key elements driving new road construction, analyzing local, state and federal financing strategies that provide construction funding in the U.S., and the impact these projects have on employment.