Smart highways set to take-off
Technavio has published a new report that identifies the five leading vendors in smart highway construction. The global smart highway construction market 2017-2021 report also lists 14 other leading vendors who are expected to impact the market from now until 2021.
According to the report, the smart highway construction market will grow at an exponential rate and post a CAGR of almost 94% by 2021. The vendors in this market can expect significant market growth in the coming years since governments worldwide are looking for effective solutions to reduce traffic congestion and road traffic accidents.
Gaurav Mohindru, a lead research analyst at Technavio construction research said: “The major growth driver for the global smart highway construction market is the development of industrial and economic corridors. For example, the government of India plans to develop an industrial economic corridor between Delhi and Mumbai. Such projects will generate demand for the construction of smart highways in the coming years.”
Vendors in the market are likely to grow during the forecast period as more smart highway projects proposals gain momentum worldwide. Furthermore, the growth of urban population is already taking its toll on the current road infrastructure due to the surge in the number of vehicles on the road, leading to traffic congestion especially in densely populated cities such as Mumbai, London, New York, and Barcelona. To counter such challenges, smart highway constructions are likely to increase globally, driving the growth of the global smart highway construction market.
The five leading vendors identified in the report are:
Continental Engineering that builds projects such as condominiums, civil infrastructure, offices, high-rise buildings, hospitals, and factories. The civil work of the project includes the construction of an eight-lane expressway on the outer ring road in Hyderabad, India.
Heijmans was among the first construction companies to include smart highway construction in its portfolio. It also develops property, residential buildings, and roads. The company is active in the Netherlands, Belgium, and Germany.
Nippon Koei is a leading international engineering consultant. The company has branches in Kenya, Philippines, India, Jordan, Brazil, Vietnam, Panama, Thailand, Myanmar, Peru, and Mozambique. The scope of its work in the smart highway construction projects such as the Hyderabad Outer Ring Road included civil works, designing, planning, and scheduling.
Transstroy is a successor to the Ministry of Transport Construction of the USSR (Union of Soviet Socialist Republics). It has a diverse portfolio with expertise in the field of railway, roadway, airfield, industrial, civil construction, and hydraulic engineering.
VINCI Construction has a presence in many sectors in 100 countries around the world. It specializes in civil engineering works, structural work, and other construction-related departments. It is involved in the construction of the M4 Corridor to the south of the city of Newport, the UK. The scope of the project involves the construction of a 2.5-km long cable-stayed viaduct, two interchanges, and 36 structures.
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