Global Tunnel Lighting Market (2021-2028) – by Design, Installation, Type, Application and Geography
DUBLIN, October 05, 2021– (BUSINESS WIRE) – The report “Tunnel Lighting Market Forecast to 2028 – COVID-19 Impact and Global Analysis by Design, Installation, Type and Application” has been added to ResearchAndMarkets.com offer.
According to this report, the market is expected to reach US $ 2,955.7 million by 2028, registering a CAGR of 5.4% from 2021 to 2028.
Railways play a central role in any economy because the progress of business activities and the growth of industrial and commercial sectors depend in large part on the development of transport infrastructure. Railways are a profitable and reliable mode of transportation. Railways allow the transport of large quantities of goods and passengers over long distances with minimal possibility of breakdowns or delays compared to roads. In addition, the load capacity of trains is elastic because the number of wagons can be increased or decreased.
In addition, trains are part of the environmentally friendly means of transport, as modern railway engines are powered by electricity, unlike conventional diesel engines. As a result of these benefits, governments around the world are increasingly focusing on developing their rail network. For example, the new Malaysian east coast railway line, the project which began in 2019, involves the construction of 30 to 40 tunnels on the 640 km long railway line. In February 2018, Polskie Linie Kolejowe (PKP), a Polish railway company, won a contract worth € 966 million for the development of an 18 km section of the Brenner base tunnel in Austria. In 2019, Finest Bay Area Development and China Railway Engineering Company, China Railway International Group and China Communications Construction Company jointly received € 15 billion for the construction of a 100 km long tunnel between Finland and Finland. Estonia. Thus, the focus on developing rail networks across the world is driving the growth of the tunnel lighting market.
The tunnel lighting market is segmented on the basis of design, installation, type and application. Based on the design, the market is segmented into standard and custom; the standard segment dominated the market in 2020. On the basis of installation, the tunnel lighting market is segmented into surface mount, pendant and recessed / side wall mounted; the surface mounted segment dominated the market in 2020. By type, the tunnel lighting market is segmented into LED lighting, incandescent lighting, fluorescent lighting and others; LED lighting segment dominated the market in 2020. On the basis of applications, the tunnel lighting market is segmented into mining tunnels, road tunnels, rail tunnels and others. The road tunnel segment dominated the market in 2020.
The tunnel lighting market in Europe and Asia-Pacific is expected to experience significant growth in the coming years. In Europe, growing construction projects and strict government regulations for environmental protection are contributing to the growth of the tunnel lighting market. Based on region, North America dominated the tunnel lighting market in 2020. North America is one of the major regions in terms of development and adoption of new technologies; this is mainly attributed to favorable government policies that stimulate innovation and strengthen infrastructure capacities. Due to favorable government policies and ever-increasing investment by North American countries in infrastructure development, North America poses a high demand for tunnel lighting. Any impact on the growth of the industrial sector hinders the economic growth of the region. Currently, the United States is the worst affected country in the world due to the COVID-19 outbreak.
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Gain and reduce the time required to conduct entry-level research by identifying the growth, size, leading players and segments of the global tunnel lighting market.
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The key findings and recommendations highlight crucial progressive industry trends in the global Tunnel Lighting Market, thereby enabling value chain players to develop effective long term strategies.
Develop / modify business expansion plans using a substantial growth offering in developed and emerging markets.
Take an in-depth look at the global market trends and outlook associated with the factors driving the market, as well as those hindering it.
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For more information on this report, visit https://www.researchandmarkets.com/r/8k39jg
See the source version on businesswire.com: https://www.businesswire.com/news/home/20211005005855/en/
Laura Wood, Senior Press Director
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