Global Tunnel Lighting Market (2021 to 2028) - by Design, Installation, Type, Application and Geography - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Tunnel Lighting Market Forecast to 2028 - COVID-19 Impact and Global Analysis by Design, Installation, Type, and Application" report has been added to ResearchAndMarkets.com's offering.

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 pivotal role in any economy as the progress of trade activities, and the growth of industrial and commercial sectors are largely dependent on the development of transportation infrastructure. The railways are a cost-effective and reliable mode of transport. Railways allow the transportation of large goods quantities and passengers over long distances with minimum possibilities of failures or delays compared to roadways. Moreover, load capability of trains is elastic as the number of wagons can be increased or decreased.

Furthermore, trains are among the environmentally friendly means of transport as modern rail engines are electrically powered, unlike conventional diesel-powered engines. Owing to these benefits governments worldwide are increasingly focusing on the development of their railway network. For instance, the Malaysia's new East Coast Rail Line, the project that commenced in 2019, involves the construction of 30-40 tunnels over 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 company along with China Railway Engineering Company, China Railway International Group, China Communications Construction Company were jointly awarded Euro 15 billion for the construction of a 100-km-long tunnel between Finland and Estonia. Thus, the emphasis on developing railway networks across the world is boosting the tunnel lighting market growth.

The tunnel lighting market is segmented on the bases of design, installation, type, and application. Based on design, the market is segmented into standard and customized; the standard segment dominated the market in 2020. Based on installation, the tunnel lighting market is segmented into surface mounted, hanging, and recessed/side wall mounted; the surface mounted segment led the market in 2020. By type, the tunnel lighting market is segmented into LED lighting, incandescent lighting, fluorescent lighting, and others; the LED lighting segment led the market in 2020. Based on application, the tunnel lighting market is segmented into mining tunnels, roadway tunnels, railway tunnels, and others. The roadway tunnels segment led the market in 2020.

The tunnel lighting market in Europe and APAC is expected to exhibit significant growth in the coming years. In Europe, growing construction projects and strict government regulations pertaining to environmental protection contribute to the growth of the tunnel lighting market. On the basis of region, North America dominated the tunnel lighting market in 2020. North America is one of the leading regions in terms of the development and adoption of new technologies; this is mainly attributed to favorable government policies that boost innovation and strengthen the infrastructure capabilities. Owing to the favorable government policies and ever-increasing investments by North American countries in infrastructure development, North America poses a large demand for tunnel lights. Any impact on the growth of industrial sector hampers the economic growth of the region. Presently, the US is the world's worst-affected country due to COVID-19 outbreak.

Reasons to Buy

• Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the global tunnel lighting market.
• Highlights key business priorities in order to assist companies to realign their business strategies.
• The key findings and recommendations highlight crucial progressive industry trends in the global tunnel lighting market, thereby allowing players across the value chain to develop effective long-term strategies.
• Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
• Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it.
• Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution.

Market Dynamics

Drivers

• Growing Railway Infrastructure
• Increasing Need for Road Safety

Restraints

• High Cost of Tunnel Lighting System

Opportunities

• Growing Mining Industry

Future Trends

• Increase in Use of LEDs

Companies Mentioned

• ACUITY BRANDS, INC.
• Kenall Manufacturing
• Aeon Lighting Technology Inc.
• Signify Holding (Philips)
• Schreder
• Thorlux Lighting
• Tungsram
• Cree Lighting
• Siteco GmbH
• GE Lighting
• C. & G. CARANDINI
• S.A.U.
• Eastar Lighting

For more information about this report visit https://www.researchandmarkets.com/r/8k39jg