A tunnel is a horizontal or nearly horizontal passageway located underground, often used for transportation and utility purposes. Tunnels serve a critical role in connecting regions separated by natural obstacles such as mountains and water bodies, as well as urban landscapes where surface routes are impractical or congested.
The tunnel market consists of sales, by entities (organizations, sole traders and partnerships), of tunnel design, construction and maintenance services. Tunnels refer to a structure constructed across the soil and fully enclosed, except for the entry and exit points, which are typically at each end and can be used for rail, vehicular or pedestrian traffic.
The global tunnel market was valued at $19,411.9 million in 2018 which grew till 2023 at a compound annual growth rate (CAGR) of more than 5.0%.
Rising Demand For Efficient Transportation
The increasing demand for efficient transportation drove the growth of the tunnel market during the historic period. Efficient transportation is frequently linked to reducing traffic congestion, with tunnels offering alternative routes that bypass congested areas, addressing the demand for smoother and less congested travel. For instance, in November 2022, according to a report published by the Bureau of Transportation Statistics, a US-based agency, transportation services, including for-hire, internal and home services, made a significant contribution of $1.3 trillion, accounting for 5.6% of the expanded U.S. gross domestic product (GDP) of $23.7 trillion in 2021. In-house transportation via truck, rail, water and air experienced a slight increase by 0.1 percentage points, reaching 1.0% in 2021. Therefore, the increased demand for efficient transportation supported the growth of the tunnel market.
Innovations Drive Technological Transformation In The Tunnel Industry
Technological advancement is a key trend gaining popularity in the tunnel market. Major companies operating in the tunnel market are adopting technologically advanced solutions to strengthen their position in the market. For instance, in January 2023, Acciona S.A, a Spain-based construction and infrastructure company, introduced Digitunnel, a real-time tunnel technology that provides better control and ensures progress in tunnel construction projects. This technology is a solution that collects and combines large amounts of real-time data generated at the project site, transforming it into information that is useful and accessible to all parties. This invention provides real-time updates on the status of the project, improves worker safety and significantly reduces the need for human control and documentation. Moreover, this technology quickly detects any potentially hazardous gases in the tunnel, improving worker safety.
The global tunnel market is fragmented, with a large number of small players operating in the market. The top ten competitors in the market made up to 9.33% of the total market in 2023.
Tunnel Global Market Opportunities And Strategies To 2033 from The Business Research Company provides the strategists; marketers and senior management with the critical information they need to assess the global tunnel market as it emerges from the COVID-19 shut down.
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Where is the largest and fastest-growing market for tunnel? How does the market relate to the overall economy; demography and other similar markets? What forces will shape the market going forward? The tunnel market global report from The Business Research Company answers all these questions and many more.
The report covers market characteristics; size and growth; segmentation; regional and country breakdowns; competitive landscape; market shares; trends and strategies for this market. It traces the market's history and forecasts market growth by geography. It places the market within the context of the wider tunnel market; and compares it with other markets.
The report covers the following chapters
- Introduction and Market Characteristics- Brief introduction to the segmentations covered in the market, definitions and explanations about the segment by tunnel type, by material and by application.
- Key Trends- Highlights the major trends shaping the global market. This section also highlights likely future developments in the market.
- Macro-Economic Scenario- The report provides an analysis of the impact of the Russia-Ukraine war, impact of the COVID-19 pandemic and impact of rising inflation on global and regional markets, providing strategic insights for businesses in the tunnel market.
- Global Market Size And Growth- Global historic (2018-2023) and forecast (2023-2028, 2033F) market values and drivers and restraints that support and control the growth of the market in the historic and forecast periods.
- Regional And Country Analysis- Historic (2018-2023) and forecast (2023-2028, 2033F) market values and growth and market share comparison by region and country.
- Market Segmentation- Contains the market values (2018-2023) (2023-2028, 2033F) and analysis for each segment by tunnel type, by material and by application in the market. Historic (2018-2023) and forecast (2023-2028) and (2028-2033) market values and growth and market share comparison by region market.
- Regional Market Size and Growth- Regional market size (2023), historic (2018-2023) and forecast (2023-2028, 2033F) market values and growth and market share comparison of countries within the region. This report includes information on all the regions Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa and major countries within each region.
- Competitive Landscape- Details on the competitive landscape of the market, estimated market shares and company profiles of the leading players.
- Other Major And Innovative Companies- Details on the company profiles of other major and innovative companies in the market.
- Competitive Benchmarking- Briefs on the financials comparison between major players in the market.
- Competitive Dashboard- Briefs on competitive dashboard of major players.
- Key Mergers and Acquisitions- Information on recent mergers and acquisitions in the market covered in the report. This section gives key financial details of mergers and acquisitions, which have shaped the market in recent years.
- Market Opportunities And Strategies- Describes market opportunities and strategies based on findings of the research, with information on growth opportunities across countries, segments and strategies to be followed in those markets.
- Conclusions And Recommendations- This section includes recommendations for tunnel providers in terms of product/service offerings geographic expansion, marketing strategies and target groups.
- Appendix- This section includes details on the NAICS codes covered, abbreviations and currencies codes used in this report.
Markets Covered:
- 1) By Tunnel Type: Railway Tunnel; Highway And Roadway Tunnel
- 2) By Material: Steel; Concrete; Composite Materials; Other Materials
- 3) By Application: Commercial Construction; Government Construction
- Companies Mentioned: China Railway Construction Corporation Limited; China Communications Construction Company; Ltd.; Vinci SA; Skanska AB; Taisei Corporation
- Countries: China; Australia; India; Indonesia; Japan; South Korea; USA; Canada; Brazil; France; Germany; Italy; Spain; UK; Russia
- Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
- Time-series: Five years historic and ten years forecast.
- Data: Ratios of market size and growth to related markets; GDP proportions; expenditure per capita; tunnel indicators comparison.
- Data segmentations: country and regional historic and forecast data; market share of competitors; market segments.
- Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.