Global Tunnel Boring Machine Market to grow at the moderate rate with the CAGR of 3% during 2019-2025
Posted On June 11, 2019
Value Market Research has published a report on the Global Tunnel Boring Machine Market which anticipates the market to cross USD 4,750.4 MN by end of 2025. The market was valued at USD 3,862.5 MN (by revenue) in 2018 and is anticipated to grow with a CAGR of 3% between 2019 and 2025. As per the analysis tunnel boring machine market is nearly doubled and is anticipated to grow continuously because of ongoing high-scale projects across urban areas. Metros have been built across various countries and more will construct in the near future which is further projected to enhance market presence. Rising construction of high-speed railway lines and highways which require tunnel will definitely double the market value. Emerging huge hydro projects across various developing nations coupled with the rising development of new infrastructure both residential as well commercial which will definitely require water, sanitation, and mass transit most of which have to placed underground is further expected to contribute towards the sales boom.
A tunnel boring machine is machinery equipment which is generally used to excavate tunnels through various soil and rocks strata. They can drill through hard rock, sand and almost anything in between. They reduced the disturbance to the ground and create a smooth tunnel wall which enables their application in highly urbanized areas. Also, the mining industry has always shown a greater interest in the use of tunnel boring machine for mine development, production of entries, ventilation, drifts, and haulage. Moreover, there is a constant demand for TBM across the mining industry for rapid excavation to develop new ore bodies faster in order to reduce production cost.
The report "Global Tunnel Boring Machine Market Report By Product (Soft Ground TBMs And Hard Rock TBMs), Application (City Rail System, Railway And Highway, Municipal Engineering, And Others) And By Regions - Industry Trends, Size, Share, Growth, Estimation, and Forecast, 2018-2025" is a detailed document which cover important facts and figure and also other relevant information that reflects the overall scenario of the industry.
Segmentation area cover product, application, and region. The product segment includes soft ground TBMS and hard rock TBMs. Out of which, hard rock TBMs are holding the highest share in the market as they are capable of drill large-diameter tunnel and best suitable for the complex geographical situation as well. Application area encompasses city rail system, railway and highway, municipal engineering, and others. Municipal engineering is gaining traction in the market subjected to the rising usage of the product for the management of waste disposal and other municipal tasks like sanitation, water supply, and water treatment in order to promote a sustainable environment. Regional segmentation covers North America, Europe, Asia-pacific, Latin America, the Middle East, and Africa. Asia-Pacific is dominating the overall market owing to ongoing construction of various high-scale projects along with the rising investment by regulatory bodies for the development of new infrastructure in the region.
The Report Segments Global Tunnel Boring Machine Market –
Soft Ground TBMs
Hard Rock TBMs
City Rail System
Railway And Highway
Middle East & Africa
Players Profiled In The Report:
Herrenknecht, Hitachi Zosen Corporation, Jim Technology Corporation, Kawasaki, Komatsu, Northern Heavy Industries Group Co., Ltd., SELI, Shanghai Tunnel Engineering Co., Ltd., and Tianye Tolian.
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