Global Tunnel Automation Market Size To Surpass USD 6.2 Billion by 2030 | CAGR of 7.7%
Category: Semiconductors & ElectronicsGlobal Tunnel Automation Market to Surpass $6.2 billion by 2030
According to a research report published by Spherical Insights & Consulting, the Global Tunnel Automation Market Size is to grow from USD 4.3 billion in 2021 to USD 6.2 billion by 2030, at a Compound Annual Growth Rate (CAGR) of 7.7% during the forecast period. The primary factors driving tunnel automation implementation are strict government rules and regulations, an increase in traffic accidents, a strong need for greater security, and the growing integration of technologies such as cloud computing and IoT into tunnel automation solutions.
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Browse key industry insights spread across 200 pages with 100 market data tables and figures & charts from the report on " Global Tunnel Automation Market Size, Share, and COVID-19 Impact Analysis, By Component (HVAC, Lighting & Power Supply, Signalization), By Tunnel Type (Railway Tunnels and Highway and Roadway Tunnels), By Offering (Hardware, Software, and Services), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2021 – 2030 " Get Detailed Report Description Here: https://www.sphericalinsights.com/reports/tunnel-automation-market
A tunnel contains numerous ventilation systems, lighting systems, and speed limit indications, among other things, all of which require a significant amount of power and must be successfully and efficiently managed in order to control traffic. Government regulations, rising traffic accidents, and the growing integration of IoT and cloud technologies with tunnel automation technologies are driving the market forward. Tunnels make it possible to transport items, cars, and products quickly. Tunnel automation can save money by reducing the amount of labor required and utilizing renewable energy sources. The increasing number of tunnel construction projects, as well as the incorporation of analytics into tunnel management, are likely to provide market participants with significant growth opportunities. Furthermore, an increase in the number of accidents, as well as an increase in project allocations, as well as outdated railway tunnels, are acting as active growth drivers in the tunnel automation market. However, tunnel automation is costly to develop, difficult to transport, and requires extensive backup systems as well as electricity. As a result, hinder the market expansion.
The HVAC segment is expected to hold the largest share of the market during the forecast period.
On the basis component, the global tunnel automation market is categorized into HVAC, lighting & power supply, and signalization. This growth can be attributed to the absolute requirement of providing forced air circulation inside tunnel enclosures, as tunnel enclosures have limited access from the outside and no natural ventilation.
The railway tunnels dominate the market and are anticipated to grow at a rapid CAGR in terms of revenue during the study period.
Based on the tunnel type, the global tunnel automation market is classified into railway tunnels and highway and roadway tunnels. Increasing project allocation and an increase in the number of railway tunnel accidents are expected to drive market expansion over the forecast timeframe. Growing renovation activities in older railway tunnels in developing countries are also driving market expansion.
The Service offering segment is expected to grow at the highest CAGR during the predicted period.
Based on the offering, the global tunnel automation market is categorized into hardware, software, and services. Growing technology and design, project planning, and scheduled maintenance services are among the primary drivers driving the services segment market expansion. The installation and replacement of HVAC, electrical and lighting, firefighting, and other tunnel systems drive the service segment.
Asia Pacific is expected to hold the largest share of the market during the predicted timeframe.
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Asia Pacific is estimated to hold the largest share of the global tunnel automation market during the forecast period. The Asia Pacific region's infrastructure development is accelerating as a result of rapid urbanization and economic growth in the region's various countries. The Chinese government's increased investment in tunnel infrastructure, combined with the growing adoption of tunnel automation solutions for railway, subway, and road tunnels, has fueled the country's increased demand for tunnel automation solutions. Over the predicted period, Europe is estimated to grow the fastest. The presence of a number of manufacturing industries, combined with rising public transportation demand in most cities, is propelling the tunnel automation market forward.
Major vendors in the Global Tunnel Automation Market include CODEL International Ltd, Monitoring Solutions, General Electric, PHOENIX CONTACT, Delta Electronics, Inc, Advantech Co. Ltd., Honeywell International Inc., Eaton, SWARCO, Agidens International NV, SICE, Indra Sistemas, OSRAM GmbH, Johnson Controls, Siemens, Trane, SICK AG, ABB, Kapsch, Koninklijke Philips N.V., and Others.
Recent Developments
- In June 2022, With the introduction of Mobilaris Tunneling Intelligence, Epiroc expanded its digital solutions portfolio within the construction industry. The new tunnelling portfolio improves both safety and productivity.
Key Target Audience
- Market Players
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Value-Added Resellers (VARs)
Market Segment
This study forecasts revenue at global, regional, and country levels from 2019 to 2030. Spherical Insights has segmented the Global Tunnel Automation Market based on the below-mentioned segments:
Global Tunnel Automation Market, By Component
- HVAC
- Lighting & Power Supply
- Signalization
Global Tunnel Automation Market, By Tunnel Type
- Railway Tunnels
- Highway and Roadway Tunnels
Global Tunnel Automation Market, By Offering
- Hardware
- Software
- Services
Global Tunnel Automation Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of Middle East & Africa
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