Tunnel Automation Market by Component (HVAC, Lighting & Power Supply, Signalization), Offering (Hardware, Software, and Services), Tunnel Type (Railway Tunnels and Highway and Roadway Tunnels), and Geography - Global Forecast to 2023
“The tunnel automation market is expected to grow at a CAGR of 8.12% from 2018 to 2023”
The tunnel automation market is expected to grow from USD 2.89 billion in 2018 to USD 4.27 billion by 2023, at a CAGR of 8.12%. The growth of this market is mainly driven by the factors such as rising incidents of road accidents, tightening government regulations for the deployment of tunnel automation solutions, and growing integration of IoT and cloud into tunnel automation solutions. However, the shortage of technical or skilled engineering workers to deploy tunnel monitoring solutions restrains the growth of the tunnel automation market.
“Market for HVAC components is likely to grow at the highest CAGR during the forecast period”
HVAC components are expected to witness the highest CAGR in the tunnel automation market during the forecast period owing to the absolute necessity to provide forced ventilation inside tunnels as tunnel enclosures have limited access from outside and do not have natural ventilation.
“Europe is expected to hold a significant share of the tunnel automation market by 2023”
Europe is expected to account for the largest share of the tunnel automation market by 2023. The growth of the market in Europe can be attributed to the well-established manufacturing industries, high demand for public transport in most cities, and presence of several mountain ranges in the region.
Breakdown of the profiles of primary participants:
By Company: Tier 1 = 55%, Tier 2 = 25%, and Tier 3 = 20%
By Designation: Directors = 50%, VPs = 25%, Managers = 20%, and Others = 5%
By Region: North America = 40%, Europe = 35%, APAC = 15%, and RoW = 10%
Major players profiled in this report are as follows:
Johnson Controls (Ireland)
SICK AG (Germany)
ABB Group (Switzerland)
Philips Lighting (Netherlands)
This report offers a detailed insight into the tunnel automation market segmented on the basis of tunnel type, component, offering, and region. By tunnel type, the market has been segmented into railway tunnels, and highway and roadway tunnels. By component, the market has been segmented into HVAC, lighting & power supply, signalization, and others. By offering, the tunnel automation market has been segmented into hardware, software, and services. The study also forecasts the market size in 4 main regions—North America, Europe, APAC, and RoW.
Reasons to buy the report
The report would help the leaders/new entrants in this market in the following ways:
1. This report segments the tunnel automation market comprehensively and provides the closest approximation of the overall market size and those of the subsegments across different types, components, offerings, and regions.
2. The report would help stakeholders understand the pulse of the market and provide them with the information on key drivers, restraints, challenges, and opportunities pertaining to the market.
3. This report would help stakeholders understand their competitors better and gain more insights to enhance their position in the business. The competitive landscape section includes competitor ecosystem, and product launches, contracts, partnerships, and mergers and acquisitions carried out by the major players in the market.