An Incisive, In-depth Analysis on the Bridge Expansion Joints Market
This study offers a comprehensive, 360 degree analysis on the Bridge Expansion Joints market, bringing to fore insights that can help stakeholders identify the opportunities as well as challenges. It tracks the global Bridge Expansion Joints market across key regions, and offers in-depth commentary and accurate quantitative insights. The study also includes incisive competitive landscape analysis, and provides key recommendations to market players on winning imperatives and successful strategies.
Bridge expansion joints, also known as movement joints, are the components in bridges that allow the bridge to expand and contract with respect to temperature changes. They also allow continuous traffic between structures while accommodating shrinkage, temperature variation and movement on steel, composite and reinforced & pre stressed concrete structures. Bridge expansion joints can be categorized into open joints and closed joints.
The report covers comprehensive information about market trends, volume (‘000 meters) and value (US$ Mn) projections, market dynamics, competition and recent developments regarding the global bridge expansion joints market for the study period (2018–2028).
The global bridge expansion joints market is expected to reach a little over US$ 1,455.9 Mn by the end of forecast period, registering a CAGR of 5.5%. Advancements in manufacturing techniques and the strong outlook of construction and transportation industries are expected to set a firm platform for the growth of the global bridge expansion joints market.
Closed Joints Segment to Dominate the Global Bridge Expansion Joints Market throughout the Forecast Period
Closed type bridge expansion joints primarily comprise compression seal joints, strip seal joints, modular elastomeric joints and poured joints. The closed type bridge expansion joints segment is anticipated to dominate the global bridge expansion joints market in terms of value during the entire forecast period. Closed bridge expansion joints find extensive usage where movement ranges greater than or equal to 2.5 inch. This usage characteristic makes them preferable for use primarily in roadway bridge applications.
Amongst closed type bridge expansion joint segments, the strip seal joints segment is expected to register 1.05X faster growth than the compression seal joints segment during the study period.
Open type bridge expansion joints are expensive when compared with closed type bridge expansion joints and the difference is significantly moderate for some specific applications. As of 2017, the market share of closed bridge expansion joints is about 1.2 to 1.4 times higher than that of open bridge expansion joints in terms of value.
Growth in Transportation Infrastructure Spending is estimated to boost the Demand for Bridge Expansion Joints
Transport infrastructure spending is projected to grow expressively in the coming years, owing to the increasing population and increase in the demand for local commute. MEA (Middle East and Africa) is estimated to witness a significant growth rate in terms of transport infrastructure in the coming years. Moreover, Asia Pacific remains the largest market in terms of transportation infrastructure with increasing investments towards the development of transport infrastructure in the region.
Growing transportation infrastructure spending across the developed and developing economics surges the demand of bridge expansion joints over the forecast period.
The Roadway Bridges Segment is slated to exhibit Above-Average Growth
Amongst all the applications analyzed in the global bridge expansion joints market study, the roadway bridges segment is expected to hold a dominant share throughout the forecast period. The segment is estimated to register about 1.02X of the overall growth in terms of value. Increasing bridge construction activities across developed and developing economics are expected to offer new growth opportunities for the manufacturers of bridge expansion joints across the globe.
In terms of absolute $ opportunity, the roadway bridges segment is expected to hold more than 80.0% of the total absolute $ opportunity created by the global bridge expansion joints market.
China followed by Western Europe – Potential Markets for Bridge Expansion Joints
Increasing government initiatives to develop smart cities, coupled with growing investments in transportation and infrastructure development in the region, are expected to drive the growth in demand for bridge expansion joints. The construction industry still accounts for a major share of China’s GDP. China alone is building over one-fourth of all the infrastructure worldwide and thus, consumes and produces a major share of construction aggregates, materials and components globally. This will further surge the demand for bridge expansion joints over the forecast period.
Established transportation and railway sectors in the region along with increasing industrialization and urbanization are slated to provide a firm platform for growth in the bridge expansion joints market. The Middle East & Africa (MEA) region is expected to register 1.3X growth in the global bridge expansion joints market, followed by Latin America, South East Asia (SEA) & Pacific and China in terms of value. SEA & Pacific and Latin America are anticipated to gain traction in the latter half of forecast period in the global bridge expansion joints market, owing to anticipated increase in construction activities in respective regions.
Apart from North America, Western Europe and Japan, all other regions are expected to gain market value share by the end of the forecast period. Collectively, the Middle East & Africa and Latin America are projected to register a CAGR of 14.8% by value, which is 2.1X less than the collective growth of all other regions.
Bridge Expansion Joints Market – Competitive Landscape
The global bridge expansion joints market is highly fragmented with the presence of several global as well as regional players across the globe. Globally, the top 15 players in the global bridge expansion joints market collectively hold between a 40% and 45% share of the overall market in terms of value.
In the recent past, the bridge expansion joints market has witnessed substantial developments from the competition perspective. Expansion, acquisitions and collaborations are some of the strategies opted by key players to expand and sustain in the global bridge expansion joints market.
In July 2018, Mageba SA, a manufacturer and supplier of building and construction products announced that the new Lake Barkley Crossing in Kentucky has been equipped with particularly flexible mageba modular expansion joints
In January 2018, RJ Watson, Inc. announced a strategic partnership with Structural Technologies. The alliance with Structural Technologies, a Structural Group company, will help the company expand its web in the transportation industry related construction activities
In December 2016, Trelleborg AB, a manufacturer and distributor of polymer technology systems, announced the opening of three new facilities in Queretaro, Mexico and the U.S. to expand its presence and meet consumer needs
In 2014, RJ Watson Inc., a manufacturer of structural engineering solutions for the construction industry, signed a collaboration agreement with Acoustiblok Inc. to expand its distribution network in North America
Prominent players covered in the global bridge expansion joints market include Trelleborg AB, Canam Group Inc., Ekspan Ltd., Freyssinet Limited, Granor Rubber & Engineering Pty. Limited, Gumba GmbH & Co. KG, KantaFlex (India) Private Limited, Mageba SA, Metal Engineering & Treatment Co. Pvt. Ltd., Zaoqiang Dacheng Rubber Co., Ltd., RJ Watson, Inc., Tensacciai S.r.l., Maurer SE and Watson Bowman Acme Corp.
Key Questions Answered in the Report
How is the bridge expansion joints market expected to take shape in terms of volume and value during the study period?
How the bridge expansion joints market has evolved over the past four years?
What are the competition developments and trends in the bridge expansion joints market?
What are the prevailing market dynamics in the bridge expansion joints market?
What are the key challenges, opportunities and improvement factors for market players in the global bridge expansion joints market?
What are the underlying macro-economic and industry factors impacting the growth of the bridge expansion joints market?
How has the competition evolved in the bridge expansion joints market over the past few years?
What are the market positioning and key strategies of key manufacturers as per the market taxonomy in the global bridge expansion joints market?
Global Bridge Expansion Joints Market: Report Description
This FMI study offers a ten-year analysis and forecast for the global bridge expansion joints market between 2018 and 2028. The bridge expansion joints market study considers 2017 as the base year with market values estimated for the year 2018 and forecast developed for the duration of 2019 to 2028. Compound Average Growth Rate (CAGR) has been represented from 2018 to 2028. This bridge expansion joints study covers various perspectives of the market, including market dynamics, value chain, pricing analysis, competition analysis, regional and segmental growth comparison and macro-economic and bridge expansion joints industry growth analysis, along with segment level projections in a comprehensive manner. As per the findings of the study and perspectives of industry participants, the global bridge expansion joints market is projected to grow at a CAGR of 5.5% between 2018 and 2028, in terms of value. Growing investments in transportation and infrastructural developments and growing government initiatives to develop smart cities are some of the factors positively impacting the uptake of the bridge expansion joints in the global market.
FMI’s report on bridge expansion joints carefully analyses the market at a global and regional level through market segmentation on the basis of key parameters, such as type, application and region. The primary objective of this bridge expansion joints market report is to offer key insights on market updates, competition positioning, current trends, market potential, growth rates and other relevant information and statistics in a suitable manner to the readers or various stakeholders in the bridge expansion joints market.
Bridge expansion joints, also known as movement joints, are components of bridges which allow bridges to expand and contract with respect to temperature changes. They also allow continuous traffic between structures while accommodating shrinkage, temperature variation and movement on steel, composite and reinforced & prestressed concrete structures. Bridge expansion joints fall into two categories: open bridge expansion joints and closed bridge expansion joints.
This bridge expansion joints report is structured to facilitate the reader to develop a thorough understanding about the bridge expansion joints market. The global bridge expansion joints market report begins with market definitions, which are followed by the market background, market dynamics and market analysis by key segments, regional analysis and competition landscape. Each section in the global bridge expansion joints market covers a qualitative and quantitative assessment of the bridge expansion joints on the basis of facts, historical developments and key opinions collected from industry participants through dedicated interviews and trends in the market.
Bridge Expansion Joints Market: Segmentation
The global bridge expansion joints market is segmented on the basis of type, application and region.
Based on type, the global bridge expansion joints market is segmented as:
Sliding Plate Joint
Compression Seal Joint
Strip Seal Joint
Modular Elastomeric Joint
Based on application, the global bridge expansion joints market is segmented as:
Based on region, the global bridge expansion joints market is segmented as:
South East Asia (SEA) & Pacific
Middle East & Africa (MEA)
The global bridge expansion joints report begins with a market introduction, defining the market taxonomy and product definitions regarding the global bridge expansion joints market assessment. In the next section, the report describes the market development background, which covers macro-economic factors (such as GDP growth, global population overview, construction spending overview, transport infrastructure spending, etc.), industry factors, product life stage and associated stages, forecast factors, value chain overview covering approximate margins, porter’s analysis, patent analysis, upcoming and ongoing bridge projects, etc.
The next section of the global bridge expansion joints market report discusses market dynamics, such as drivers, restraints and trends, impacting the market growth at a global level. Market opportunities or potential for manufacturers have been presented in the subsequent section of the same chapter. This section also includes the impact assessment of market dynamics on the global bridge expansion joints market at a qualitative level based on analysis facts and insights.
Subsequent sections of the report provide value (US$ Mn) and volume (‘000 Meters) projections for the bridge expansion joints market on the basis of the aforementioned segments at a global level. The global market values represented in these section have been agglomerated by collecting data and information at a regional level. Information provided on the global bridge expansion joints market, along with key facts and insights, cover unique analysis frameworks, such as absolute $ opportunity analysis, year-on-year growth trend comparison, market share and attractiveness analysis for each of the sub-types covered under each segment.
The next section of the report presents a summarised view of the global bridge expansion joints market based on eight prominent regions considered in the study. The section includes regional market position, growth potential and market attractiveness analysis for each of these regions.
The market analysis sections cover weighted average pricing analysis and market projections for each segment, including Y-o-Y growth trends, market share analysis, market attractiveness and incremental $ opportunity assessment. These sections analyse the degree to which the global drivers are influencing bridge expansion joints market in each region.
All the above sections evaluate the present market scenario and growth prospects in the global bridge expansion joints market while the forecast presented in the sections assesses the market size in terms of volume and value.
In order to offer an accurate forecast, we started by sizing the current market, which forms the basis of how the global bridge expansion joints market is expected to develop in the future. Given the characteristics of the global bridge expansion joints market, we triangulated the outcome of three different types of analysis, based on primary research, secondary research and our own analysis. However, forecasting the market in terms of various bridge expansion joints segments and regions is more a matter of quantifying expectations and identifying opportunities rather than rationalising them after the completion of the forecast exercise.
In addition, it is imperative to note that, in an ever-fluctuating global economy, we not only conduct forecasts in terms of CAGR, but also analyse the market on the basis of key parameters, such as Year-on-Year (Y-o-Y) growth to understand the predictability of the bridge expansion joints market and identify the right opportunities available.
As previously highlighted, the bridge expansion joints market is split into a number of sub-segments. All the bridge expansion joints sub-segments, in terms of type, application and region, have been analysed on the basis of Basis Point Share (BPS) to understand each individual segment’s relative contribution to the market growth. This detailed level of information is important for the identification of various key trends witnessed in the bridge expansion joints market.
Another key feature of this report is the analysis of all the key segments in the bridge expansion joints market, sub-segments and the regional adoption and revenue forecast in terms of absolute dollar opportunity. This is traditionally overlooked while forecasting the market; however, the absolute dollar opportunity is critical in assessing the level of opportunity that a provider can look to achieve as well as to identify potential resources from a sales and delivery perspective in the bridge expansion joints market.
Global Bridge Expansion Joints Market: Competition Landscape
In the final section of the report, a competitive landscape of the bridge expansion joints market has been included to provide report audiences with a dashboard view categorised on the basis of providers present in the value chain, their presence in the bridge expansion joints market and key differentiating factors and strategies. The primary category of providers covered in the report includes bridge expansion joints manufacturers. This section is primarily designed to provide clients with an objective and detailed comparative assessment of the key providers specific to a market segment in the value chain of the bridge expansion joints market. This section also includes market share analysis and tier structure analysis of the key manufacturers in the global bridge expansion joints market. Detailed profiles of the providers have also been included under the scope of the report to evaluate their long- and short-term strategies, key offerings and recent developments in the bridges expansion joints market. Examples of some of the key competitors covered under the report include Trelleborg AB, Canam Group Inc., Ekspan Ltd., Freyssinet Limited, Granor Rubber & Engineering Pty. Limited, Gumba GmbH & Co. KG, KantaFlex (India) Private Limited, Mageba SA, Metal Engineering & Treatment Co. Pvt. Ltd., Zaoqiang Dacheng Rubber Co., Ltd., RJ Watson, Inc., Tensacciai S.r.l., Maurer SE and Watson Bowman Acme Corp.
Bridge Expansion Joints Market Reports - Table of Contents
17. Assumptions & Acronyms
18. Research Methodology