The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

Rising road traffic is likely to boost tunnel manufacturing innovation, pushing the market during the forecast period.

The global tunnel market is expected to grow from $24.65 billion in 2022 to $25.98 billion in 2023 at a compound annual growth rate (CAGR) of 5.4%. The global tunnel market size is expected to reach $30.70 billion in 2027 at a CAGR of 4.3%.

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Global tunnel Market Segments Include:

• By Tunnel Type: Railway Tunnel, Highway And Roadway Tunnel
• By Material: Steel, Concrete, Composite Material
• By Application: Commercial Construction, Government Construction
• By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, North America is the largest region in the global tunnel market in 2021.

Major Market Players in the tunnel market include China Railway Construction Corporation Limited, Duro Felguera SA, 3TI Progetti S.p.A, Hatch Ltd, Acciona S.A., Eaton Corporation plc, Dragados USA Inc., Aktor SA, Systra Group.

Technological progress is a crucial trend that is gaining traction in the tunnel market. To boost their market position, major tunnel firms are implementing technologically advanced technologies. For example, Acciona S.A., a Spanish construction and infrastructure firm, introduced Digitunnel in January 2023, a real-time tunnel system that enables improved control and ensures progress in tunnel construction projects. This technology is a solution that collects and aggregates massive volumes of real-time data created on the construction site, converting it into information that is relevant and accessible to all stakeholders. This technology provides real-time project status updates, enhances worker safety, and decreases the need for human management and paperwork dramatically. Furthermore, this system will detect potentially harmful gases in the tunnel immediately, boosting worker safety.

The Tunnel Global Market Report 2023  provides a tunnel market overview for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The tunnel market forecast analyzes tunnel market size, tunnel market share, leading competitor market positions. The regions covered in the report include Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa and the countries include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

A tunnel is a structure built across the ground that is completely enclosed except for the entry and exit points, which are normally located at each end and can accommodate rail, automobile, or pedestrian traffic. It is widely used as a rapid transit system, connecting several highways and trains.

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