Tunnel Automation Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)


Posted April 23, 2021 by statzyreports

The tunnel automation market is anticipated to witness a CAGR of over 8.9% during the forecast period (2021 - 2026).

 
- The key factors propelling the adoption of tunnel automation are strict government regulations, increasing incidents of road accidents leading to high demand for enhanced security, and growing integration of cloud and IoT into tunnel automation solutions.

- According to World Health Organization, approximately 1.35 million people die each year as a result of road traffic crashes. The2030 Agenda for Sustainable Development has set an ambitious target of halving the global number of deaths and injuries from road traffic crashes by 2020.

- Further, an increasing number of tunnel construction projects and rising acceptance of integrated analytics platform for tunnel management are anticipated to provide growth opportunities over the next few years.

- Also according to Seimens, the security and safety regulations have the effect that up to 20 percent of the investment costs must be used for equipping the tunnels with lighting, ventilation, traffic-control systems, and safety technology.

- The product development of tunnel automation solutions in combination with innovative technologies such as cloud storage and Internet of Things (IoT) would act as positively influencing factors on the market growth. The key market players are thus focused on digitization of tunneling activities to secure increased sales revenue. For instance, in July 2017, Atlas Copco UK Holdings Ltd. announced the offering of smart connected products with the new concept of 6th Sense, which assists in getting all systems connected.

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Key Market Trends

Highways and Roadways to Hold Significant Share

- The increasing number road tunnel accidents have propelled the adoption of the automated equipment in the tunnels. The average prevalence of tunnel fire accidents has increased yearly since 2000 with the majority of incidences occurring in the summer and winter seasons and the autumn season experiencing the least.

- The market is witnessing demand for tunnel automated components owing to the increase in tunnel constructions across the globe. For instance, recently, China built world's largest road tunnel which is 7km long and costs around USD 170 million on the Sichuan-Tibet highway which shortens the time to reach Tibet by two hours.

- The country has also built Mila Mount Tunnel on the Lhasa-Nyingchi Highway. According to China Railway Erju Construction Co., Ltd. the tunnel is located at an altitude of 4,750 metres above sea level.

- The increasing regulations regarding the tunnel safety to reduce the number of accidents has further supported the growth. According to the European Commission over 25 000 people lost their lives due to road accidents in the EU during 2017. Owing to this, the EU law has set minimum safety requirements for tunnels, including measures to prevent them from becoming death traps in an accident. According to EU by 2019, more than 1300 kms of main road tunnels will have been upgraded to meet the highest safety standards.

- Such factors are propelling the growth of tunnel automation products in the highways and roadways segment.

Asia-Pacific to Hold Significant Growth

- The tunnel automation market in APAC is expected to grow at the highest CAGR during the forecast period. China and India are expected to be the main contributors to the growth of the tunnel automation market in APAC in the coming years.

- Infrastructure in APAC is developing at a significant rate due to rapid urbanization and economic growth in various countries in the region. The growing investments in tunnel cosntruction is anticipated to drive the market for tunnel automation in the region. Accordimg to ITA (International Tunneling Association) Japan, South Korea and Singapore are the major tunneling markets in Aisa-Pacific while Malaysia is becoming more important with a market of 400 million euros and a growth of 40 % in three years.

- The Chinese government’s increasing investment in tunnel infrastructure, along with the increasing adoption of tunnel automation solutions for railway, subway, and roadway tunnels, has contributed to the increased demand for tunnel automation solutions in the country.

- The country has been planning to build the world's largest undersea rail tunnel in the Baltic Sea. The construction of this tunnel will lead to huge investments in the automation components there by driving growth of the market.

- Apart from China, India has also been investing significantly in the the tunnel construction.In February 2019, India has launched a project to construct Se La tunnel in Arunachal Pradesh. As it is being cosntructed in the India-China border the concrens regarding high security would enable significant investments in high-end technological components for the tunnel.
- Further, factors such as increased population and rapid urbanization have led to an increase in the use of highways and railways. This has resulted in the rising demand for tunnel automation solutions in APAC.

Competitive Landscape

The market for tunnel automation is moderately competitive. Companies in the market are focusing on increasing their market presence by introducing new products, expanding their operations, or by entering into strategic mergers and acquisitions.

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Issued By Statzy Market Research
Country India
Categories Automotive
Tags tunnel automation market , tunnel automation market forecast , tunnel automation market share , tunnel automation market size
Last Updated April 23, 2021