PROJECTS | TRANSPORT TUNNELS/RAIL & METRO
In terms of the Transport sector though, and in
particular Rail & Metro, the regions with most activity continue to be - as per prior GlobalData analysis (Q1-’23) - Western Europe (Germany and Alpine nations, and UK) and Northeast Asia (primarily China and Japan). In terms of an overview on funding, most tunnel-
related projects (81%, globally) are publicly funded, varying from 60% to 90% of pipeline investments across the regions analyzed by GlobalData. There is use of public/private funding although
globally it takes only a relatively minor share (14%) - apart from Latin America where it accounts for more than half of the region’s funding, and in MENA, Eastern Europe, Western Europe, Australasia, and parts of Asia, respectively, where the mode holds double-digit percentages. Least used, globally, is the private funding mode (5%) and which is only present in some regions, and where it is used most is Latin America (16% of the regional funding) and Western Europe (13%). As noted earlier, most of the total pipeline of
investment in tunnel-related projects relates to the transport sector - in fact 91%, according to GlobalData’s Q3-’24 analysis. Within Transport, spend on the Rail & Metro is largest, on an approximately 3:1 ratio compared to Highways & Roads.
EUROPE
Western Europe The region had a value pipeline in total tunnel-related
Pre-planning Planning
construction projects of about US$315 billion, led by investments in Germany, Switzerland, France, Italy, Austria and UK, with projects also in Norway, Sweden, Belgium and Spain. Most of the regional pipeline is for tunnel-related
projects in pre-execution and execution phases. Rail & Metro activity (across all phases) in the region
is approximately US$221 billion and almost three times as large, by value, as Highways & Roads. By nation, the tunnels-related Rail & Metro activity
is led, in ranked size, by Switzerland, France, Germany, Italy and Austria. The first three are almost tied, as are the last two.
Other Western European nations have much less Rail & Metro investment, relatively, and for those there is a switchover in Transport investment to favor Highways & Roads tunnel-related projects.
ASIA
Northeast Asia The total tunnel-related construction pipeline in Northeast Asia is about US$275 billion, dominated by Transport investment in China and Japan. The value pipelines in those two counties far outweigh the tunnel- related project activities elsewhere in the region, in South Korea and Hong Kong by large measure. Rail & Metro investment in tunnels-related projects
accounts for the majority of Transport sector, and all tunnel activities in the region. The value pipeline for
Pre-execution Execution
0
50,000
100,000 Electricity transmission tunnel Right:
Western Europe - tunnel construction project pipeline, value by stage, country and sector (US$ million)
SOURCE: GLOBALDATA Germany
Switzerland France Italy
Austria UK
Norway
Sweden Belgium Spain
Denmark Netherlands Greece
Portugal 0 10,000 20,000 30,000 40,000 50,000 60,000
150,000
200,000 Railway tunnel
250,000 Roads tunnel
300,000 Water & sewerage tunnel
350,000
18 | Spring 2025
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