In terms of revenue, the Europe tunnel sensor market was valued at US$ 1,064.7 million in 2019 and is expected to grow at a CAGR of 5.6% during the forecast period (2020-2027) to reach US$ 1,622.8 million by 2027.
The COVID-19 outbreak is anticipated to affect the growth rate of Europe tunnel sensor market in the year 2020 and 2021 and thus there is decline in y-o-y growth during these years. However, the growth is expected to normalize from 2021 onwards and the market is projected to grow at a steady pace. The trend of connected things is gaining remarkable traction among diverse industries, such as consumer electronics, manufacturing, and transportation; thus, the demand for advanced tunnel automation and monitoring solutions is also growing at an impressive pace. Increasing internet infrastructure, advancements in the electronics and semiconductor sector, and introduction of innovative connectivity modules are among the major factors driving the adoption of various technologies in the diverse industries. Considering the growing automation trend, the tunnel sensor manufacturers across the world are putting efforts to keep pace with the changing technology landscape. With continuous advancements in connected technologies such as IoT and cloud computing, the demand for advanced capabilities in tunnel sensor products is anticipated to rise in the coming years. Hence, companies operating in this market need to invest in upgrading their product offerings by integrating technologies such as IoT in order to maintain sustainable growth during the forecast period.
Based on solutions, the Europe tunnel sensor market is segmented into visibility monitoring, air flow monitoring, air quality monitoring, filter monitoring, fire monitoring, and others. The continuous flow of fresh air across the tunnels is essential for maintaining visibility, as well as controlling the level of toxic gases within the permissible limit. Air flow monitoring sensors are used to ensure optimum airflow within the tunnel and minimize the power consumption of jet fans. Ultrasonic airflow measurement technology is used to achieve optimum airflow inside the tunnel. These sensors are integrated with appropriate software to help users easily monitor and maintain the airflow limit inside the tunnel.
The overall Europe tunnel sensor market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the tunnel sensor market. The process also serves the purpose of obtaining an overview and forecast for the Europe tunnel sensor market with respect to all the segments pertaining to the region. Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic. The participants who take part in such a process include industry experts such as VPs, business development managers, tunnel sensor market intelligence managers, and national sales managers along with external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the Europe tunnel sensor market. Bristol Industrial & Research Associates Ltd, CODEL International Ltd, DURAG GROUP, ACOEM, Geonica, Trolex Ltd, Safibra, s.r.o., and SICK AG are among the key players in the Europe tunnel sensor market.