Press release
Surging Road Traffic Ignites Growth In The Tunnel Market: A Key Factor Shaping the Future of the Tunnel Market in 2025
Tunnel
The escalating levels of road traffic are anticipated to fuel the expansion of the tunnel market in the future. The term road traffic involves the movement of vehicles and pedestrians on any portion of a public road network. Tunnels are built for transportation purposes to make efficient use of underground space by diverting traffic away from city centers and minimizing landscape harm caused by significant construction alterations. For instance, as per a report published by Government Technology, a US-based information technology publication, in January 2023, drivers spent nearly 4.8 billion hours stuck in traffic in 2022. It was also reported that the average American driver suffered a loss of $869 in 2022 due to traffic hold-ups, which was a considerable increase from $305 in 2021. Consequently, the increasing road traffic is steering the growth of the tunnel market.
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What growth opportunities are expected to drive the tunnel market's CAGR through 2034?
In the past few years, the tunnel market has experienced substantial growth. The market will rise from $27.11 billion in 2024 to stand at $28.89 billion in 2025, making for a compound annual growth rate (CAGR) of 6.6%. Factors such as urbanization and infrastructural development, environmental issues and regulations, population density and congestion, emergency and security infrastructure, as well as mining and resource extraction, have all contributed to this historic period growth.
Predictions indicate a robust augmentation in the tunnel market size in the forthcoming years, reaching a valuation of $37.78 billion in 2029, growing at a compound annual growth rate (CAGR) of 6.9%. The anticipated upswing during this period can be ascribed to factors such as renewable energy infrastructure, intelligent infrastructure integration, high-speed rail projects, subterranean urban development, climate change mitigation, and cross-border transportation. The forecast period will also witness substantial trends like advancements in tunneling technology, the innovation of tunnel boring machines (TBMs), emphasis on sustainability, resilience, and security, digital transformation, and the proliferation of building information modeling (BIM).
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What are the emerging trends shaping the future of the tunnel market?
The rapid development of technology is a significant trend emerging in the tunnel market. Major players in the tunnel industry are turning to technologically advanced solutions to bolster their market stance. For example, in January 2023, Acciona S.A., a construction and infrastructure firm based in Spain, launched Digitunnel. This real-time tunnel technology is an innovation designed to streamline tunnel construction projects, offering improved oversight and ensuring progress. It gathers and integrates an immense amount of real-time data produced at the construction site, converting it into beneficial and easily digestible information for all stakeholders. The breakthrough technology provides live updates on project status, enhances the safety of workers, and notably diminishes the need for manual supervision and record-keeping. Besides, the technology is designed to swiftly identify any potentially dangerous gases in the tunnel, further safeguarding the workers.
Which growth-oriented segments of the tunnel market are leading the industry's development?
The tunnel market covered in this report is segmented -
1) By Tunnel Type: Railway Tunnel, Highway And Roadway Tunnel
2) By Material: Steel, Concrete, Composite Material
3) By Application: Commercial Construction, Government Construction
Subsegments:
1) By Railway Tunnel: Urban Railway Tunnels, Long-Distance Railway Tunnels
2) By Highway Tunnel: Single-Bore Highway Tunnels, Multi-Bore Highway Tunnels
3) By Roadway Tunnel: Underwater Roadway Tunnels, Urban Roadway Tunnels
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What regions are leading the charge in the tunnel market?
North America was the largest region in the tunnel market in 2024. Europe is expected to be the fastest-growing region in the global tunnel market report during the forecast period. The regions covered in the tunnel market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What companies are at the forefront of innovation in the tunnel market?
Major companies operating in the tunnel market include China Railway Construction Corporation Limited, Bouygues Construction, Shanghai Construction Group Co., Ltd., Vinci Construction, Larsen & Toubro Limited, Bechtel Corporation, Strabag SE, Skanska AB, Obayashi Corporation, Kiewit Corporation, AECOM, Acciona, S.A., Taisei Corporation, Balfour Beatty plc, Webuild S.p.A. (formerly Salini Impregilo), Sacyr, S.A., PORR AG, Tutor Perini Corporation, Aecon Group Inc., Granite Construction Incorporated, Hatch Ltd., Systra Group, McConnell Dowell Corporation, Dragados USA Inc., 3TI Progetti S.p.A., Aktor S.A., ACS Group, Eiffage S.A.
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What Is Covered In The Tunnel Global Market Report?
•Market Size Forecast: Examine the tunnel market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the tunnel market for a structured understanding.
•Key Players Overview: Analyze major players in the tunnel market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the tunnel market.
•Segment Contributions: Evaluate how different segments drive overall growth in the tunnel market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the tunnel market.
•Industry Challenges: Identify potential risks and obstacles affecting the tunnel market.
•Competitive Landscape: Review strategic developments in the tunnel market, including expansions, agreements, and new product launches.
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