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Global Tunnel Market 2023 - Opportunity Analysis, Industry Trends, Business Segmentation And Forecast To 2032
Tunnel Market
Tunnel Market Size, Growth Rate, And Forecast
The global tunnel market size 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 Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global tunnel market size is expected to reach $30.70 billion in 2027 at a CAGR of 4.3%.
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Tunnel Market Drivers
The rising road traffic is expected to propel the growth of the tunnel market going forward. Road traffic refers to the movement of vehicles and pedestrians along any stretch of a network of roads that have been designated for public. Tunnels are constructed for transportation to provide the effective use of underground space through the rerouting of traffic from town centers and reducing landscape damage brought by major changes during construction.
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Tunnel Market Segments
• By Tunnel Type: Railway Tunnel, Highway And Roadway Tunnel
• By Material: Steel, Concrete, Composite Material
• By Application: Commercial Construction, Government Construction
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the Tunnel market.
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Tunnel Market Key Players
Major competitors in the Tunnel market include China Railway Construction Corporation Limited, Duro Felguera SA, 3TI Progetti S.p.A, Hatch Ltd, Acciona S.A.
The Business Research Company's "Global Tunnel Market Report 2023" is a comprehensive report of the market, covering over 60 geographies and high level market segmentation per geography. The section on regional and country breakdowns examines the market in each geography as well as market size by region and country. Furthermore, it evaluates the market's historical and projected growth and identifies significant trends and strategies that businesses can use to expand their operations.
The Table Of Content For The Tunnel Market Include:
1. Executive Summary
2. Tunnel Market Characteristics
3. Tunnel Market Trends And Strategies
4. Tunnel Market - Macro Economic Scenario
5. Tunnel Market Size And Growth
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26. Africa Tunnel Market
27. Tunnel Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Tunnel Market
29. Tunnel Market Future Outlook and Potential Analysis
30. Appendix
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