According to TechSci Research report “India Roads & Highways Market By Type, Competition Forecast & Opportunities, 2013 – 2027”, the roads & highways market in India is forecast to reach $ 24 billion by 2027. Growth in the market is anticipated on account of increasing need to develop and expand roads & highways network to cater to expanding vehicular population and increasing freight transportation in the country. The government has launched various major projects including SARDP-NE and LWE to improve road connectivity in remote as well as urban areas in the country’s eastern states, owing to poor infrastructure and limited connectivity in the region. All these road infrastructure initiatives are expected to hugely benefit the country’s road and highways market over the next 5-10 years.
“India Roads & Highways Market” Increasing investments in improving the roads and highways infrastructure, rising influx of passenger vehicles, growing urbanization and continuing economic development are fueling demand for better road infrastructure in India. As of 2017, India’s transport sector contributed 6% to the country’s GDP, with road sector accounting for more than 70% of the market share. Moreover, over 60% of freight traffic and more than 90% of passenger traffic in the country is handled by roads and highways. With the country’s economy being among the fastest growing major developing nations, the roads and highways network is anticipated to receive heavy investments during the forecast period. Customers can also request for 10% free customization on this report.
“The roads & highways sector is considered to be the backbone of a nation’s economy. Over the last decade, government of India has been increasing its focus on expanding and improving the country’s roads and highways network infrastructure for strengthening the transportation and logistics sector in India.
As a result, several initiatives such as NHDP, SARDP, LWE, etc., have been launched to support road development. Moreover, rising government focus on the development of expressways and upgrading of existing highways is expected to drive India roads & highways market during the forecast period.”, said Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“India Roads & Highways Market By Type, Competition Forecast & Opportunities, 2013 – 2027” has evaluated the future growth potential of the India roads & highways market and provides statistics and information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in the India roads & highways market.