India Roads & Highways Sector Forecast to Grow at CAGR 36% till 2025
Rising government
initiatives towards better roads and highways infrastructure for freight and
public transportation to drive India roads and highway sector through 2025
According to a recently published TechSci Research
report “India
Roads & Highways Market By Type, Competition Forecast &
Opportunities, 2011-2025”, the market for roads and highways is projected to exhibit a
CAGR of 36.16% during 2016-2025,
on account of growing government initiatives to improve transportation
infrastructure in the country. Improvement in the transportation infrastructure
can be attributed to increasing road traffic density, thereby propeling
Government of India to develop better road infrastructure. Indian government
has planned to build 18,637 kilometres of expressways by 2022. Moreover,
highways account for 2% of total length of roads in India, whereas it carries
40% traffic load of the country. Development of expressways would reduce
traffic load on expressways in the country.
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Roads
and highways can be categorized on the basis of type into road, highway and
expressways. Over the past few years, highways accounted for lion’s share in
India roads and highways market owing to major investments in this segment.
However, expressways are expected to dominate the roads and highways market in
India during the forecast period, on account of upgradation of state highways
and national highways with length over 1000 km into expressways to drive huge
investments in expressways development. Moreover, north India dominated the
roads and highways market in 2015 and is further expected to continue its
dominance through 2025, owing to growing urbanization, and increasing
investment in improving the road and highways infrastructure.
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India GDP Growth Rate, in Percentage, 2016E-2021F
“Economic development and increasing disposable income
in India has led to increase in ownership of private vehicles among both urban
and rural population of the country. Moreover, rising freight transport is
fueling demand for better roads infrastructure in the country. Growing
requirement for better roads and highways infrastructure, coupled with rising
government initiatives to drive India roads and highways market during the forecast
period” said Mr. Karan Chechi,
Research Director with TechSci Research, a research based global management
consulting firm.
“India Roads & Highways
Market By Type, Competition Forecast & Opportunities, 2011-2025” has evaluated the future growth potential of roads and
highways market in India and provided statistics and information on market
structure, industry behaviour and trend. The report includes market projections
and demand forecast. The report is intended to provide cutting-edge market
intelligence and help decision makers to take sound investment evaluation.
Besides, the report also identifies and analyses emerging trends along with
essential drivers, challenges and opportunities available in roads and highways
sector in the country.
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