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.
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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?
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:
- Open Joints
- Butt Joint
- Sliding Plate Joint
- Finger Joint
- Closed Joints
- Compression Seal Joint
- Strip Seal Joint
- Modular Elastomeric Joint
Based on application, the global bridge expansion joints market is segmented as:
- Roadway Bridges
- Railway Bridges
Based on region, the global bridge expansion joints market is segmented as:
- North America
- Latin America
- Western Europe
- Eastern Europe
- South East Asia (SEA) & Pacific
- Middle East & Africa (MEA)