European Tunnel Automation Market To Prosper in Coming Years
The global tunnel automation market reached a revenue of $3.5 billion in 2020, and it is predicted to exhibit huge expansion during 2021–2030 (forecast period). The major factors fueling the expansion of the market are the surging requirement for improved road safety and security solutions, owing to the rising incidence of road accidents, increasing incorporation of tunnel automation systems with various advanced technologies, such as internet of things (IoT) and cloud storage, adoption of analytics in tunnel management, and surging number of tunnel construction projects across the world.
With the rising prevalence of road accidents, road safety is becoming a major concern area for governments and organizations all over the world. According to the World Health Organization (WHO), road accidents claim the lives of around 1.3 million people every year. Furthermore, the organization reported that road accidents cost a large number of countries 3% of their gross domestic product (GDP) and they are the leading cause of deaths for young adults aged between 5 and 29 years and children across the world.
Due to the aforementioned factors, the governments of many countries are making huge investments in advanced technologies, such as tunnel automation, that can massively enhance security, lighting, air conditioning, ventilation, and surveillance in tunnels, thereby improving road safety. Besides, the increasing adoption of cloud-based automation and IoT-incorporated automation solutions in tunnels is also driving the growth of the tunnel automation market. Tunnel automation systems are being increasingly integrated with innovative technologies, such as cloud computing, data analytics, and IoT, in order to provide customers with an edge over conventional manual management methods.
The market is categorized into highway and roadway tunnels and railway tunnels, depending on tunnel type. Of these, the railway tunnels category contributed higher revenue to the market in 2020. This is ascribed to the various benefits of railway tunnel automation solutions, such as reduced security and safety threats and enhanced efficiency of tunnel operations. Fire and safety, lighting and power supply, ventilation, signalization, communication, and air conditioning systems are some of the major components of these tunnel automation systems.
When component is taken into consideration, the tunnel automation market is classified into heating, ventilation, and air conditioning (HVAC), signalization, and lighting and power supply. Amongst these, the HVAC category dominated the market in 2020, and it is predicted to demonstrate the highest CAGR in the market throughout the forecast period. This is credited to the extensive usage of HVAC components in tunnel automation. Moreover, the requirement for proper ventilation of heat and several harmful gases that are emitted by trains and vehicles that pass through the tunnels is also fueling the growth of the category.
Globally, Europe will dominate the tunnel automation market during the forecast period, as per the forecast of P&S Intelligence, a market research company based in India. This is attributed to the several projects and initiatives launched by the governments of regional countries for optimizing transportation systems, existence of mountain ranges, surging incidence of road accidents, rising requirement for public transportation systems, and growing public awareness about road and rail safety in the region.
Hence, the market will register rapid expansion in the coming years, mainly because of the rising requirement for improved tunnel and road safety and the growing adoption of advanced technologies in tunnel automation systems across the world.
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