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Roads And Highways Market Revenue Outlook: What CAGR Is Expected Through 2030?
The roads and highways market has demonstrated consistent expansion in its size over recent years. This market is projected to expand from $702.1 billion in 2025 to $732.88 billion by 2026, registering a compound annual growth rate (CAGR) of 4.4%. Historically, this growth has stemmed from factors such as increased government expenditure on infrastructure, the continued use of conventional road construction materials, the continuous enlargement of national highway systems, the past prevalence of manual construction techniques, and a consistent supply of bitumen and aggregates.
The roads and highways market size is projected to demonstrate steady expansion in the upcoming years, with an expected increase to $886.97 billion by 2030, achieving a compound annual growth rate (CAGR) of 4.9%. This growth during the forecast period can be attributed to several factors, including the increasing implementation of smart transportation systems, a shift toward sustainable and recycled road materials, rising capital expenditure in automated construction technologies, the expansion of large-scale public infrastructure programs, and the broader deployment of intelligent traffic management systems. Key trends anticipated during this period include the growing adoption of smart roadway technologies, an increase in sustainable and recycled road construction materials, the enlargement of long-term highway rehabilitation projects, a surging demand for advanced traffic management solutions, and the enhanced integration of prefabricated and modular road components.
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Roads And Highways Market Demand Drivers: What Is Fueling Industry Growth?
An increased volume of vehicle production is projected to fuel the expansion of the roads and highways market in the coming period. Vehicle production refers to the large-scale manufacturing of identical models offered for public sale. Most drivers prefer to travel on highways, as these are long, straight roadways connecting different places, which simplifies travel. Additionally, highway travel allows for fuel savings by shortening distances between cities. For instance, in September 2024, according to the European Automobile Manufacturers’ Association, a Belgium-based European Commission, car production in the European Union reached 12.2 million units in 2023, marking an 11.6% rise from 2022. Therefore, the growing output of vehicles is propelling the growth of the roads and highways market.
Roads And Highways Market Segments: Where Are The Largest Growth Opportunities?
The roads and highways market covered in this report is segmented –
1) By Product Types: Road construction and maintenance, Highway construction and maintenance
2) By Technology: Intelligent transport management system, Intelligent traffic management system, Communication system, Monitoring System, Other Technologies
3) By End Use: First-class roads, Substandard roads, Highways, Second-class roads, Third-class roads
Subsegments:
1) By Road Construction And Maintenance: Asphalt Paving, Concrete Paving, Road Marking And Signage, Surface treatment, Drainage And Erosion Control
2) By Highway Construction And Maintenance: Highway Paving, Bridge Construction And Maintenance, Guardrail Installation, Traffic Management Systems, Highway Signage And Lighting
Roads And Highways Market Innovation Trends: Which Developments Are Transforming The Industry?
Leading companies in the roads and highways market are concentrating on inventive products, such as universal-class pavers, to better satisfy the requirements of their current consumers. A Universal Class Paver is characterized by its adaptability and wide variety of applications. These pavers are designed to handle numerous road-building and paving tasks, making them suitable for a broad spectrum of uses. For instance, in May 2023, VOGELE, a Germany-based manufacturer of road paving equipment, introduced the SUPER 1880 L. The Vogele SUPER 1880 L is an economical, highly durable tracked paver developed for laying water-bound materials and asphalt mixtures. Furthermore, with a maximum pave width of 9.5 m, the SUPER 1880 L is an excellent option for highway and rural road initiatives. This paver is offered at emission levels 3 and below. The sturdy design of the Vögele SUPER 1880 L is well-suited for paving cold, coarse materials and is also appropriate for applying hot asphalt layers. The adaptable SUPER 1880 L stands out for its flexibility, rendering it suitable for various paving applications, including highways, A roads, and B roads.
Roads And Highways Market Major Participants And Competitive Dynamics
Major companies operating in the roads and highways market are China Communications Construction Company Ltd., Vinci SA, Bouygues SA, ACS Group, CRH plc, Larsen & Toubro Ltd., STRABAG SE, Tata Projects, Bechtel Corporation, Jacobs Engineering Group Inc., Colas SA, Skanska AB, Fluor Corporation, Kiewit Corporation, AECOM, Acciona S.A., Balfour Beatty plc, Ferrovial S.A., Royal BAM Group, Porr AG, Granite Construction Inc., Lane Construction Corporation, Dilip Buildcon Limited, Walsh Construction LLC, Heidelberg Cement AG, IRB Infrastructure Developers Limited, Eurovia UK Limited, Hunan Road and Bridge Construction Group Co Ltd., Afcons Infrastructure Limited, Sichuan Railway Investment Group Co Ltd.
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Roads And Highways Market Regional Distribution: Which Areas Drive Market Expansion?
North America was the largest region in the roads and highways market in 2025. Asia-Pacific is expected to be the fastest-growing region in the global roads and highways market report during the forecast period. The regions covered in the roads and highways market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Wasay has over a decade of experience in market research, data modelling, and analytics, with prior experience at GlobalData and Decision Tree Consulting Services. At The Business Research Company , he leads research operations across syndicated studies, customized consulting engagements, and the Global Market Model platform. His professional experience includes supporting organizations such as Boston Consulting Group, KPMG, and Ernst & Young. Wasay holds a degree in Electronics and Communications Engineering, postgraduate management qualifications from International Management Institute Belgium and Indian School of Business and Entrepreneurship, and completed the Integrated Program in Business Analytics from Indian Institute of Management Indore.