India Roads and Highways Market is Expected to Register a CAGR of 9.63% Through 2030
Government Initiatives & Investments and Rising
Urbanization & Population Growth are likely to propel the market during the
forecast period.
According to
TechSci Research report, “India Roads and Highways Market – By Region,
Competition, Forecast and Opportunities, 2020-2030F”, India Roads and Highways Market was valued at
USD 152.16 Billion in 2024 and is expected to reach USD 266.60 Billion by 2030
with a CAGR of 9.63% during the forecast period.
The
Indian government plays a crucial role in the expansion and modernization of
the country's roads and highways network. Various initiatives and policies have
been implemented to accelerate road infrastructure development, recognizing its
importance for economic growth and regional connectivity.
One
of the key programs is the Bharatmala Pariyojana, launched to improve
efficiency in freight and passenger movement by developing national highways,
expressways, and economic corridors. This initiative aims to bridge
infrastructural gaps, particularly in rural and remote areas, fostering
economic activities across states. Additionally, the Pradhan Mantri Gram Sadak
Yojana (PMGSY) focuses on enhancing rural connectivity by constructing
all-weather roads, which significantly contribute to the development of rural
economies.
The
government has also encouraged private sector participation through
Public-Private Partnership (PPP) models, attracting domestic and foreign
investments. The introduction of the National Infrastructure Pipeline (NIP) and
other budget allocations for the highway sector have further boosted road
construction projects. Furthermore, policies like fast-track approvals, ease of
land acquisition, and increased budgetary allocations have accelerated highway
development. These measures have made India one of the fastest-growing road
infrastructure markets in the world, facilitating trade, tourism, and
industrial growth.
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Based on Process,
The Expansion held the largest market share in 2024. Expansion is the dominant trend in India’s
roads and highways market due to rapid urbanization, rising vehicle ownership,
and the need for enhanced connectivity. With India’s economy growing and
industries expanding, the demand for a robust transportation network has
intensified, leading to large-scale road development projects across the
country.
The Indian
government has prioritized road expansion through programs such as Bharatmala
Pariyojana, which aims to develop economic corridors, expressways, and border
roads. Similarly, the National Infrastructure Pipeline (NIP) has allocated
significant funds for highway expansion, ensuring seamless connectivity between
industrial zones, ports, and urban centers.
India has one of
the fastest-growing vehicle populations, leading to traffic congestion in
cities and on highways. To address this, multi-lane expressways, bypasses, and
ring roads are being developed to decongest existing roads and improve travel
efficiency. Additionally, the growth of the e-commerce and logistics sectors
has fueled demand for better road infrastructure to facilitate the smooth
movement of goods.
The expansion of
roads and highways is further driven by public-private partnerships (PPP) and
increased foreign direct investment (FDI) in infrastructure projects. The
government’s monetization of road assets through the National Monetization
Pipeline (NMP) has attracted private investors, accelerating expansion efforts.
Based on region,
North India is emerging as the fastest-growing region in the India roads and
highways market due to a combination of factors, including economic growth,
strategic location, government initiatives, and infrastructure development.
Economic growth
in North India, particularly in states like Uttar Pradesh, Haryana, Punjab, and
Delhi, is driving the demand for improved connectivity. The region has become a
major hub for manufacturing, agriculture, and commerce, necessitating the expansion
and modernization of its road infrastructure to facilitate smooth
transportation of goods and people. Additionally, the increasing demand for
logistics and warehousing in the region, especially along key industrial
corridors, is pushing the need for robust road networks.
North India’s
strategic geographical location plays a crucial role. It serves as a critical
gateway for both domestic and international trade, linking the northern part of
the country to key global markets. Key highways like the Delhi-Mumbai
Expressway, Eastern Peripheral Expressway, and the Amritsar-Kolkata Economic
Corridor are improving access to major ports and manufacturing hubs, further
boosting trade and economic activity.
Government
initiatives have significantly accelerated infrastructure development in North
India. The Bharatmala Pariyojana and National Highways Development Project
(NHDP) are major contributors to road construction in this region. The
government’s emphasis on developing expressways, bypasses, and multi-lane
highways is directly addressing the rising traffic volume, thereby enhancing
travel efficiency.
Major companies
operating in the India Roads and Highways Market are:
- Dilip Buildcon
- Afcons Infrastructure Limited
- Bechtel Corporation
- Ferrovial SE
- Vinci
- Fluor
Corporation
- Skanska AB
- Larsen &
Toubro Limited
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India roads and highways sector
presents significant market opportunities driven by rapid urbanization,
increasing vehicle ownership, and strong government support. The rise of expressways, logistics corridors, and smart road
technologies further enhances growth potential. Additionally, opportunities
exist in sustainable road construction, digital tolling, and intelligent
traffic management systems. With increasing FDI inflows and infrastructure
monetization, stakeholders in construction, technology, and finance can
leverage this expanding market for long-term economic and industrial growth in
India’s transportation sector.” said Mr. Karan Chechi, Research Director of TechSci
Research, a research-based global management consulting firm.
“India Roads and Highways
Market, By Road Type (National/Interstate Highways,
State Highways, Other), By Components (Road, Bridges/Tunnels/Culverts, Marking
& Signage, Safety Equipment, Traffic Management System, Others), By Process
(Maintenance, Expansion) By Region, Competition, Forecast & Opportunities, 2020-2030F”, has evaluated the future growth
potential of India Roads and Highways Market and provides statistics &
information on Market size, structure and future Market growth. The report
intends to provide cutting-edge Market intelligence and help decision-makers make
sound investment decisions., The report also identifies and analyzes the
emerging trends along with essential drivers, challenges, and opportunities in the
India Roads and Highways Market.
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