Bridge Expansion Joints Market Snapshot
Future Market Insights (FMI) forecasts that the bridge expansion joints sales will accelerate at 1.5x in next ten years, reaching the market valuation of around US$1500 Mn by the end of 2031.
Implementation of bridge preservation partnership programs between original equipment manufacturers (OEMs) and end users will drive the market, yielding a year-on-year (YoY) growth rate of 3% in 2021.
China leads the global bridge expansion joints market as a result of growing investments in transportation and infrastructure development. The market in China is anticipated to hold nearly one-fifth value share in the global market during the forecast period.
Key Points Covered in Bridge Expansion Joints Market Study
- Market Estimates and Forecast 2016-2031
- Key Drivers and Restraints Impacting Market Growth
- Segment-wise, Country-wise, and Region-wise Analysis
- Competition Mapping and Benchmarking
- Brand share and Market Share Analysis
- Key Product Innovations and Regulatory Climate
- COVID-19 Impact on Bridge Expansion Joints Market and How to Navigate
- Recommendation on Key Winning Strategies
2016-2020 Bridge Expansion Joints Market Demand Outlook in Comparison to 2021-2031 Forecast
The global bridge expansion joints market is estimated to be worth US$ 990.8 Mn in 2021. The market is expected to register a CAGR of 5.5% during the forecast period from 2021 to 2031.
Growing population, rising number of vehicles and increasing spending on infrastructural activities across both developed and developing countries are some of the factors driving bridge expansion joints market.
Technological advancements have led to the development of flexible, cost-effective, long-lasting, waterproof and noise reduction bridge expansion joints which can accommodate movements in all directions, of overhead structures with minimum load transmission to decks or slabs.
Closed type bridge expansion joints are dominating the global bridge expansion joints market. They are being used extensively in roadway bridge applications, where movement ranges greater than or equal to 2.5 inch.
Key companies operating in the market are investing heavily in research and development activities. They are striving towards testing new products & technologies. Product launches and product approvals, mergers and acquisitions, advanced product development, alliances and collaborations are some of the strategies employed by these companies to gain a competitive edge in the market.
For instance, in 2020 Watson Bowman Acme(WBA) bridge sector team secured significant long term expansion joint work on what is being called “The Mother of all highway construction projects” in Miami, Florida. WBA will be supplying over 4,000 LF of Wabo®SiliconeSeal and 3,000 LF of Wabo®StripSeal.
Similarly, in 2020 Sika, a global leader in waterproofing, and specialty construction and industrial materials acquired expansion joint and precompressed sealant manufacturer EMSEAL Joint Systems Ltd.
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 (2021–2031).
The global bridge expansion joints market is expected to grow at a CAGR of 5.5% during the forecast period. 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.
Market Research Methodology - Perfected through Years of Diligence
A key factor for our unrivaled market research accuracy is our expert- and data-driven research methodologies. We combine an eclectic mix of experience, analytics, machine learning, and data science to develop research methodologies that result in a multi-dimensional, yet realistic analysis of a market.
Closed Joints Segment to Dominate the Market
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 2020, 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 Driving Bridge Expansion Joints Demand
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.
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 much is bridge expansion joints market worth?
The global bridge expansion joints market is estimated to be worth US$ 990.8 Mn in 2021.
What is the demand outlook for bridge expansion joints market?
The bridge expansion joints market is expected to grow at a CAGR of 5.5% between 2021 and 2031.
At what rate did bridge expansion joints market grow in the last five years?
The bridge expansion joints market grew at 3.8% CAGR in the last five years, from 2016 to 2020.
What are the key trends shaping the bridge expansion joints market?
Adoption of non-invasive anchoring technology in bridge expansion joint systems (BEJS) and enforcement of bridge preservation partnership programs between original equipment manufacturers (OEMs) and end users are some of the key trends prevailing in the market.
What is the market share of top 4 players?
The cumulative market share of top 4 players i.e., Trellebrog, Canam, Mageba and Maurer is 37%.
What is the North America bridge expansion joints market outlook?
North America market is expected to register a CAGR of 4.1% during the forecast period.
At what rate will the bridge expansion joints market grow in Europe?
The bridge expansion joints market in Europe is expected to register a CAGR of 4.9% between 2021 and 2031.
Which countries are the key producers of bridge expansion joints?
EU-5 countries and Canada are the key producers of bridge expansion joints.
Which are the key exporters of bridge expansion joints?
The key exporters of bridge expansion joints are Germany, Nordics, Italy and China
What is the bridge expansion joints market statistics in South Korea and Japan?
Japan and South Korea cumulatively account for 9% of the market share in 2021.
Bridge Expansion Joints Market: Segmentation
The global bridge expansion joints market is segmented on the basis of type, application and region.
Based on Type:
- Open Joints
- Butt Joint
- Sliding Plate Joint
- Finger Joint
- Closed Joints
- Compression Seal Joint
- Strip Seal Joint
- Modular Elastomeric Joint
Based on Application:
- Roadway Bridges
- Railway Bridges
Based on Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- South East Asia (SEA) & Pacific
- Middle East & Africa (MEA)