The global pedestrian bridges market is expected to grow from USD 100 billion in 2022 to USD 148.02 billion by 2032, at a CAGR of 4% from 2023-2032. The increasing building and construction activities will augment the growth of the global pedestrian bridges market.

Market Introduction:

When one place is connected to another place through an overhead structure is called a bridge. It is usually constructed to circumvent an obstruction to ensure a safer, faster and optimal travel solution. For instance, bridges can be built over rivers to facilitate river crossing through an alternate mode of transportation which is safer, faster and more reliable than boats. Bridges can also be built over busy roads to reduce traffic congestion and make travel faster for users. The bridges which are constructed exclusively for the use of pedestrians are called pedestrian bridges. No vehicles are allowed on these bridges, and only people can access them. These can be constructed for a variety of purposes. For instance, they can be built over busy highways, railway tracks, and train stations to facilitate the population's easy, fast and safe movement without obstructing the vehicular traffic on the roads or trains. They are also built over natural topographic structures or rivers, making it challenging to construct a road on them to access places on the banks of these structures. There are different types of pedestrian bridges, namely, beam, boardwalk, clapper and moon bridge, among many others. The bridges are also constructed over picturesque landscapes, allowing individuals to enjoy the views from a high point. Cyclists also use these bridges; they are accessible to persons with disabilities, given the special ramps constructed for them, and pet owners use them as safer. Furthermore, these bridges can be networked or connected to make access to several points easier and safer without impeding vehicular traffic or other activities under the bridges.

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Recent Development

March 2023 – According to the 2022-23 Economic report, Delhi, India, has swiftly increased the number of its pedestrian bridges, adding 27 in the last two years. By 2021–2022, 113 footbridges had been constructed, four more had been added between April and December, and six more would be operational by the following month. According to the survey conducted in 2022–2033, pedestrians and bicycles must be taken into consideration when designing and building roads in Delhi. According to the Delhi vehicle Crash Report 2021, three people have died on average daily in vehicle accidents in the city during the last two years. With 504 fatalities (or 40%) and 1,536 injuries, pedestrians comprised most victims in 2017. These numbers prompted the government to ramp up the construction of pedestrian bridges in the capital to ensure citizens' safety.

Market Dynamics:

Drivers

The rapid worldwide urbanization – The increasing population, rising disposable income, private investment, and favourable government initiatives towards development have led to rapid urbanization globally. Rapid urbanization is associated with constructing roads, bridges, buildings, residential and commercial, public utilities and other amenities. The construction of roads to facilitate faster movements of goods, services, and people has increased globally, giving rise to the need for pedestrian bridges to prevent accidents, reduce obstruction to vehicular movement and ensure the safety of citizens. The government initiatives aimed at offering connectivity to remote areas, including mountainous regions, will also propel the market's growth as bridges are often ideal structures compared to roads, given the unstable and tectonic landforms of the mountains. The need to connect the remotest villages to the mainstream landscape will also be facilitated by constructing these connective links, such as pedestrian bridges. The importance of environment, ecology and wildlife has also paved the way for pedestrian bridge construction as they would not impede wildlife's natural landscape and movement. The expansion of railways will also augment the market's growth as more pedestrian bridges will be constructed to cross these tracks to ensure the safe movement of users. The tourism sector will also contribute to the market, given the construction of glass bridges or other bridges over picturesque landscapes such as waterfalls, rivers or mountains that are highly popular with tourists. Therefore, rapid urbanization will facilitate increased construction of roads, railways, and tourism infrastructure, driving the growth of the global pedestrian bridges market.

Restraints:

The high initial cost of investment – The construction of a pedestrian bridge requires a high capital investment. It starts with winning government tenders and contracts to build bridges in public places, gathering necessary approvals from relevant authorities, and getting environmental and social clearance for the construction. These activities involve a significant number of resources. Furthermore, the raw materials, labour, machines, equipment and time required to complete the project involve vast capital. The fluctuating raw material prices, given the global uncertainties, supply chain shocks or bottlenecks, and subdued consumer demand, add to the capital costs of the construction. Additionally, the maintenance of the bridge also requires several resources, which demands significant capital commitment and time as the maintenance needs to be carried out periodically at regular intervals without fail to ensure its functioning and safety. The high initial investment cost will hamper the global pedestrian bridges market's growth.

Opportunities:

The development of advanced technologies and building materials – The rapid urbanization and the associated increase in building and construction activities of roads, highways or expressways have contributed to the rising demand for pedestrian bridges. However, the bridges constructed in the same old manner require a significant amount of time, which leads to the closure of important structures, impeding vehicular movement for several days, thereby causing economic losses for the authorities. Therefore, the market players have invested heavily in the research and development of new raw materials and technologies that can help build strong, resilient, and durable bridges in less time and cost. The new technologies include 3D printing, superior quality concrete material and quick drying technologies. Therefore, developing advanced technologies and superior materials will offer significant market opportunities for the key global pedestrian bridges market players.

Challenges:

The lack of proper maintenance – Bridges are constructed to withstand extreme weather conditions, constant use and regular wear and tear. However, regular maintenance, repair and care can prolong their life and retain their quality over a longer period, thereby saving significant capital for the authorities. Furthermore, their regular maintenance and upkeep are important to ensure the safety of users and nearby surroundings. The lack of regular maintenance increases the risk of the bridge collapsing, causing irreparable losses, reducing the life cycle of the bridge causing capital losses and decreasing the brand capital of the constructors. The rising bridge instances will challenge the market collapses due to insufficient maintenance and upkeep measures, thereby limiting the market's growth.

Regional segmentation analysis:

The regions analyzed for the market include North America, Europe, South America, Asia Pacific, the Middle East, and Africa. Asia Pacific emerged as the largest global pedestrian bridges market, with a 46% market revenue share in 2022. The region's rising population, driven by India and China, has increased the demand for building and construction of roads, houses, offices, parks and other utilities. The rising population is driving rapid urbanization, which demands seamless connectivity for faster travel. Therefore, the increasing construction of roads, expansion of railways and other building activities facilitated the regional pedestrian bridges market's growth. The increased fiscal infrastructure expenditure has also augmented the regional market's development. The growing emphasis on connecting remote villages and inaccessible landscapes through bridges in the mountainous, desert and marshy regions will also propel the regional market's growth. The increased funding for the tourism sector to revive the industry after the reeling impact of the covid-19 pandemic will also increase the construction of pedestrian bridges near tourist attractions to facilitate easy movements and propel the industry's growth. The construction of pedestrian bridges is also rising to reduce traffic congestion, accidents and restricted vehicular movement. The safety of pedestrians in urban clusters is at the forefront of developing robust, fast and safe urban mobility and transportation.

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Type segment analysis

The type segment is divided into truss bridges, suspension bridges, arch bridges, beam bridges and others. The beam bridges segment dominated the market with a market share of around 42% in 2022. A beam bridge consists of a horizontal beam. A beam is a long and strong piece of material which is often thick in proportions and is used to support the weight of another structure in construction. The material can be concrete, metal, or wood. The horizontal structure of the beam bridge is supported at each end by piers. Given their structural limitations, they are primarily built for covering small distances, as the longer beam bridges will be unstable and can collapse. They are ideal for pedestrian bridges over roads, rail tracks, railway stations and river streams. Beam bridges are economical, and they can be constructed faster than others. Beam bridges offer flexibility in terms of designs and materials that can be used, thereby widening its scope of application. They are also easy to maintain and repair, explaining their popularity in the global pedestrian bridges market.

Construction type segment analysis

The construction type is divided into new construction and reconstruction and repair. The new construction segment dominated the market with a market share of around 64% in 2022. The rapid urbanization facilitating the building of new roads will propel the segment's growth. Introducing road safety and strict implementation of road safety laws will also drive the construction of new bridges. Furthermore, developing better and more sustainable building materials and advanced technologies will augment the segment's growth. The demand for better remote connectivity will also drive the segment's development. Also, constructing connecting bridges in high-rise buildings or glass bridges in tourist attractions will augment the growth of segments.

Material type segment analysis

The material type is divided into concrete, steel and others. The steel segment dominated the market with a market share of around 59% in 2022. Steel is an iron and carbon alloy. It also contains minuscule amounts of silicon, phosphorus, sulphur, and oxygen. Steel is widely used in engineering, building and construction. Steel is a strong, ductile, and flexible material which is easy to produce and deploy in construction. Construction with steel materials is quicker, and they are safer and more economical. The flexibility and ductility offered by stell facilitate the prefabrication of components which aids in faster construction. Pedestrian Bridges are lighter with steel as their building material. The several benefits of steel in construction make it popular in the global pedestrian bridges market and explain its dominance in the segment.

Some of the Key Market Players:

• Backwoods Bridges LLC
• Contech Engineered Solutions LLC
• Denton Corker Marshall
• IJP Corporation Ltd
• Landmark Products Pty Ltd
• Mace Group
• Nature Bridges
• Owings & Merrill (SOM)
• Skidmore
• The Walsh Group

Report Description: