Routine Bridge Inspections to Witness Resilient Growth
Routine inspections determine the physical and functional condition of the bridge and identifies extent of deterioration from the previous inspection. Large scale investments are surging the rate of inspections, maintenance, and repairing of bridges will further bolster the growth of the bridge inspection services market.
Routine bridge inspections are estimated to create an absolute dollar opportunity worth US$ 1,343 Mn and are foreseen to cross the US$ 5 Bn mark by the end of the forecast period (2019-2029). However, principal inspection services are foreseen to grow around 2X faster than the superficial/initial inspection during the forecast period.
Increased Infrastructure Spending in Developing Economies will Unlock Lucrative Opportunities for Transportation over Bridge Segment
Developing economies such as China, India, South Africa, and Brazil have witnessed a spike in spending on the inspection & maintenance of existing infrastructure. The necessity to prevent bridge accidents is foreseen to support the growth of transportation over bridge inspection services.
China has doubled the volume of infrastructure projects to stave off economic slowdown amid the trade war. India on the other hand has invested about US$ 1.1 trillion on infrastructure for building new roads and rail links.
Owing to an increase in inspection services, the transportation over bridge segment is expected to cross US$ 3 Bn mark by the end of the decade by contributing over 50% in the overall value opportunity.
On the other hand, the railway over the bridge is estimated to create an absolute dollar opportunity worth US$ 400 Mn and is expected to capture a market share of 30% by the end of the forecast period.
Infrastructure Safety to Ramp up Demand for Concrete Structure Testing
Earlier, bridges were constructed with concrete material. As a result, these bridges started to deteriorate owing to decay and distress caused by corrosion in reinforcing bars. To obviate damages caused by corrosion in concrete bridges, demand for bridge inspection services is anticipated to soar in the foreseeable future.
The concrete structure testing segment is foreseen to grow 2.5X faster than the steel structure testing by the end of 2029. On the other hand, steel structure testing is estimated to account for around 26% revenue share of the market by 2019 end and is anticipated to grow at a CAGR of 2.8% during the forecast period.
Asia-Pacific is Projected to Grow 1.5X Faster Than Europe
Rising demand for infrastructure in BRICS and GCC countries are expected to surge the demand for inspection services in these regions. In Japan, 48% of bridges are more than 50 years old.
Further, some bridges are built in a short duration which are expected to deteriorate at a faster rate. In Europe, critical transport infrastructure is aging. Thus, inspection, maintenance, and monitoring of bridges are extremely important in this region.
Asia-Pacific is estimated to create an absolute dollar opportunity worth US$ 526 Mn, through the forecast duration. Furthermore, owing to the optimistic outlook of bridge maintenance, inspection, and monitoring in Europe, the region is forecasted to account for over 26% in the overall value opportunity created in the global bridge inspection services market.
Avail customized purchase options for your needs
Strategic Acquisition: Key Growth Influencer within Bridge Inspection Services Market
Industry leaders are continuously focusing on strategic acquisitions to expand their geographic presence, increase business operations and increase their share within the market
- In September 2018, ATS has acquired International Inspection Inc. International Inspection specializes in the inspection and non-destructive examination of equipment, properties, and assets within the marine, construction, fabrication and communications industries. The acquisition will expand the company’s capabilities and improve customer experience
- In 2019, KCI Technologies acquired Keith & Schnarr’s (K&S). K&S is a consulting firm which specializes in engineering, construction inspection, surveying, landscape, architecture, planning, and environmental science. The acquisition will further strengthen KCI’s geographic capabilities
An Adaptive Approach to Modern-day Research Needs
Global Bridge Inspection Services Market: Segmentation
Segmentation table of the global bridge inspection services market has been provided below on the basis of inspection, inspection purpose, bridge category, testing, bridge construction and region.
- Superficial / Initial
- Inventory Inspection
- Condition Inspection
- Maintenance Inspection
- Rehabilitation Inspection
- Transportation Over bridge
- On Land
- On Water Bodies
- Pedestrian (Foot) Over Bridge
- On Road
- Transit Stations (Railways, Airport etc.)
- Commercial Spaces and Amusement Parks
- Railway Over bridge
- Pipeline Bridge
- Concrete Structure Testing
- Rebound Hammer Test
- Carbonation Depth
- Ultrasonic Pulse Velocity Test
- Half Cell Electric Potential Test
- Rebar Detection Test
- Infrared Thermal Imaging Test
- Compressive Strength Test
- Steel Structure Testing
- Paint Thickness Test
- Metal Thickness Test
- Magnetic Particle Testing
- Eddy Current Testing
- Special Non-Destructive Test
- Ultrasonic Flow Detection Test
- Static Load Carrying Test
- Dynamic Load Carrying Test
- Ambient Vibration Test
- Impact Vibration Test.
- SONAR Test (For Scouring)
- Impact Echo Test
- X-Ray Test
- In-Situ Stress Measurement Test.
- Permanent Bridges
- Fixed Bridges
- Movable Bridges
- Temporary Bridges
- Fixed Bridges
- Movable Bridges
- North America
- Rest of the World
Need an Exclusive Report for your Unique Requirement?
- Related Reports -
- Our Clients -
- Evaluate How Fact.MR's Report Can Help. -
Is the market research conducted by Fact.MR?
Yes, the report has been compiled by expert analysts of Fact.MR, through a combination of primary and secondary research. To know more about how the research was conducted, you can speak to a research analyst.
What research methodology is followed by Fact.MR?
Fact.MR follows a methodology that encompasses the demand-side assessment of the market, and triangulates the same through a supply-side analysis. This methodology is based on the use of standard market structure, methods, and definitions.
What are the sources of secondary research?
Fact.MR conducts extensive secondary research through proprietary databases, paid databases, and information available in the public domain. We refer to industry associations, company press releases, annual reports, investor presentations, and research papers. More information about desk research is available upon request.
Who are the respondents for primary research?
Fact.MR speaks to stakeholders across the spectrum, including C-level executives, distributors, product manufacturers, and industry experts. For a full list of primary respondents, please reach out to us.
Is a sample of this report available for evaluation?
Yes, you can request a sample, and it will be sent to you through an email.