Roads and Highways Market Outlook 2025-2034: Market Share, and Growth Analysis

The Roads and Highways Market is valued at USD 623.4 billion in 2025 and is projected to grow at a CAGR of 4.8% to reach USD 946.6 billion by 2034.

The roads and highways market is a fundamental component of the global infrastructure sector, providing essential connectivity for goods and people. Roads and highways form the backbone of transportation networks, enabling economic activity, trade, and mobility across urban, rural, and international boundaries. As the world becomes increasingly urbanized and global trade continues to expand, there is growing demand for well-maintained and modern road infrastructure. Governments and private companies invest significantly in building, maintaining, and upgrading road networks to ensure safe, efficient, and sustainable transportation. The market includes the construction, maintenance, and renovation of highways, expressways, and local roads, and involves both new development projects and infrastructure improvements. Additionally, advancements in road technology, such as smart roads and sustainable construction materials, are transforming the way roads and highways are designed, constructed, and operated. With increasing population growth, rapid urbanization, and heightened focus on sustainability, the roads and highways market is poised for significant growth, both in terms of infrastructure development and technological innovation.

The roads and highways market experienced a boost due to increased government investments in infrastructure, particularly in emerging economies. The demand for better road networks continued to rise, fueled by rapid urbanization, the growing need for efficient transportation, and higher investments in trade and tourism. In developed markets, governments focused on modernizing and expanding existing road infrastructure to accommodate growing traffic volumes and support new transportation technologies, such as autonomous vehicles. At the same time, sustainable road construction materials and green building techniques became a significant focus as there was a push toward reducing the environmental impact of road infrastructure projects. The rise of smart roads and intelligent transportation systems, including integrated traffic management systems, real-time monitoring, and sensor technologies, also contributed to market growth. Furthermore, private sector partnerships and public-private collaborations in road construction projects became more prevalent, as they allowed for more efficient funding and faster implementation of critical infrastructure projects. However, challenges such as funding constraints and regulatory hurdles continued to affect the pace of infrastructure development in certain regions.

The roads and highways market is expected to undergo further transformation, driven by advancements in smart infrastructure, sustainability, and digitalization. The integration of autonomous vehicle technology and the expansion of electric vehicle infrastructure are expected to drive demand for road networks that can support these new technologies. In addition, governments will continue to focus on sustainable road construction techniques, incorporating recycled materials, eco-friendly pavements, and energy-efficient lighting systems to reduce environmental impacts. The rise of intelligent transportation systems, including connected roads and smart traffic management solutions, will continue to revolutionize the way roads are designed and maintained, offering real-time traffic monitoring, reduced congestion, and improved safety. Road safety technologies such as automated enforcement, pedestrian safety systems, and enhanced road signage will also see greater integration into road projects. As urban areas expand and global trade continues to grow, the demand for efficient, connected, and sustainable road infrastructure will only increase, positioning the roads and highways market for long-term growth and innovation.

Key Insights: Roads and Highways Market

• Growing adoption of smart road technologies, including real-time traffic management, autonomous vehicle infrastructure, and integrated sensor systems for better traffic flow and safety.
• Increased use of sustainable materials in road construction, such as recycled asphalt and eco-friendly pavements, to meet environmental standards and reduce carbon footprints.
• Integration of intelligent transportation systems, such as connected roads, digital signage, and automated tolling, to enhance efficiency and reduce congestion.
• Rise of public-private partnerships (PPPs) in road development projects, enabling faster infrastructure growth and improved financing options.
• Growth in the development of electric vehicle charging infrastructure and its integration with road networks to support the transition to green transportation solutions.

• Rapid urbanization and population growth, driving the need for more roads, highways, and modernized infrastructure to support increased traffic.
• Government investments in infrastructure development, with a focus on improving transportation networks to facilitate trade, tourism, and economic development.
• Technological advancements in road construction materials and smart infrastructure, enhancing road safety, durability, and traffic management systems.
• The rise of electric and autonomous vehicles, requiring the development of road infrastructure that accommodates new transportation technologies.

• The primary challenge in the roads and highways market is securing adequate funding for large-scale infrastructure projects, as well as overcoming regulatory and environmental constraints that may delay project implementation or increase costs.

Roads and Highways Market Segmentation

By Product Types

• Road construction and maintenance
• Highway construction and maintenance

By Technology

• Intelligent transport management system
• Intelligent traffic management system
• Communication system
• Monitoring System
• Other Technologies

By End Use

• First-class roads
• Substandard roads
• Highways
• Second-class roads
• Third-class roads

Key Companies Analysed

• 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.

Roads and Highways Market Analytics

The report employs rigorous tools, including Porter’s Five Forces, value chain mapping, and scenario-based modeling, to assess supply-demand dynamics. Cross-sector influences from parent, derived, and substitute markets are evaluated to identify risks and opportunities. Trade and pricing analytics provide an up-to-date view of international flows, including leading exporters, importers, and regional price trends.

Macroeconomic indicators, policy frameworks such as carbon pricing and energy security strategies, and evolving consumer behavior are considered in forecasting scenarios. Recent deal flows, partnerships, and technology innovations are incorporated to assess their impact on future market performance.

Roads and Highways Market Competitive Intelligence

The competitive landscape is mapped through proprietary frameworks, profiling leading companies with details on business models, product portfolios, financial performance, and strategic initiatives. Key developments such as mergers & acquisitions, technology collaborations, investment inflows, and regional expansions are analyzed for their competitive impact. The report also identifies emerging players and innovative startups contributing to market disruption.

Regional insights highlight the most promising investment destinations, regulatory landscapes, and evolving partnerships across energy and industrial corridors.

Countries Covered

• North America - Roads and Highways market data and outlook to 2034
  • United States
  • Canada
  • Mexico
  
  
• Europe - Roads and Highways market data and outlook to 2034
  • Germany
  • United Kingdom
  • France
  • Italy
  • Spain
  • BeNeLux
  • Russia
  • Sweden
  
  
• Asia-Pacific - Roads and Highways market data and outlook to 2034
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Malaysia
  • Vietnam
  
  
• Middle East and Africa - Roads and Highways market data and outlook to 2034
  • Saudi Arabia
  • South Africa
  • Iran
  • UAE
  • Egypt
  
  
• South and Central America - Roads and Highways market data and outlook to 2034
  • Brazil
  • Argentina
  • Chile
  • Peru

Research Methodology

This study combines primary inputs from industry experts across the Roads and Highways value chain with secondary data from associations, government publications, trade databases, and company disclosures. Proprietary modeling techniques, including data triangulation, statistical correlation, and scenario planning, are applied to deliver reliable market sizing and forecasting.

Key Questions Addressed

• What is the current and forecast market size of the Roads and Highways industry at global, regional, and country levels?
• Which types, applications, and technologies present the highest growth potential?
• How are supply chains adapting to geopolitical and economic shocks?
• What role do policy frameworks, trade flows, and sustainability targets play in shaping demand?
• Who are the leading players, and how are their strategies evolving in the face of global uncertainty?
• Which regional “hotspots” and customer segments will outpace the market, and what go-to-market and partnership models best support entry and expansion?
• Where are the most investable opportunities - across technology roadmaps, sustainability-linked innovation, and M&A - and what is the best segment to invest over the next 3-5 years?

Your Key Takeaways from the Roads and Highways Market Report

• Global Roads and Highways market size and growth projections (CAGR), 2024-2034
• Impact of Russia-Ukraine, Israel-Palestine, and Hamas conflicts on Roads and Highways trade, costs, and supply chains
• Roads and Highways market size, share, and outlook across 5 regions and 27 countries, 2023-2034
• Roads and Highways market size, CAGR, and market share of key products, applications, and end-user verticals, 2023-2034
• Short- and long-term Roads and Highways market trends, drivers, restraints, and opportunities
• Porter’s Five Forces analysis, technological developments, and Roads and Highways supply chain analysis
• Roads and Highways trade analysis, Roads and Highways market price analysis, and Roads and Highways supply/demand dynamics
• Profiles of 5 leading companies - overview, key strategies, financials, and products
• Latest Roads and Highways market news and developments

Additional Support

With the purchase of this report, you will receive:

• An updated PDF report and an MS Excel data workbook containing all market tables and figures for easy analysis.
• 7-day post-sale analyst support for clarifications and in-scope supplementary data, ensuring the deliverable aligns precisely with your requirements.
• Complimentary report update to incorporate the latest available data and the impact of recent market developments.

This product will be delivered within 1-3 business days.