April 18, 2018
WELLESLEY, Mass., April 18, 2018– An alarming number of high-profile incidents involving deficiencies within the U.S. public works infrastructure has caused a greater attention to safety, according to the BCC Research report Advanced Materials and Technologies for Public Works Infrastructure Projects.
The market for advanced infrastructure materials and subassemblies was worth $11.5 billion in 2017 and is forecast to increase to $17.1 billion in 2022, reaching a compound annual growth rate (CAGR) of 8.2%.
Public works are construction or engineering projects executed by governments or other agencies on behalf of the community, including bridges, tunnels, highways, roads, railroads, airports, canals, dams, dikes, artificial harbors and some pipelines. The term “advanced materials” is relative and applies to the current generation of innovative materials and technologies.
“The amount of money the United States spends on maintaining and upgrading its infrastructure is bound to increase substantially in the years ahead and, no matter how much is spent, at least some people will consider it insufficient,” said Andrew McWilliams, BCC Research analyst and author of this report. “Confronted with tight budgets and long to-do lists, one of the most effective ways to ensure the greatest return on investment is by using the right technology to optimize efficiency.”
The report will be useful to public works officials typing to maximize their return on investments, as well as executives, entrepreneurs, investors, venture capitalists and other readers seeking to understand how an invigorated market for infrastructure technologies will affect their businesses.
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Advanced Materials and Technologies for Public Works Infrastructure Projects( AVM062B )
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