Report : Asia-Pacific Tunnel Boring Machine Market Forecast to 2027 - COVID-19 Impact and Regional Analysis By Type (Slurry TBM, Earth Pressure Balance Shield TBM, Open Gripper TBM, Shielded TBM, Multi-Mode TBM, and Other Types), Geology (Soft Ground, Hard Rock Ground, Variable Ground, and Heterogeneous Ground), and End-User (Transportation, Metals & Mining, Oil & Gas, and Other End-Users)
Slurry TBM Segment to Dominate APAC Tunnel Boring Machine Market during 2019–2027
According to a new market research study on “APAC Tunnel Boring Machine Market to 2027 – COVID-19 Impact and Regional Analysis and Forecast by Type, Geology, and End-User” is expected to reach US$ 4,027.81 million by 2027 from US$ 2,509.75 million in 2019. The market is estimated to grow at a CAGR of 6.5% from 2020 to 2027. The report provides trends prevailing in the APAC tunnel boring machine market along with the drivers and restraints pertaining to the market growth. Rising rail infrastructure enhancement across APAC countries is the major factor driving the growth of the APAC tunnel boring machine market. However, issues associated with considerable huge financial expenditure hinders the growth of APAC tunnel boring machine market.
The APAC tunnel boring machine market is segmented into type, geology, end-user, and country. Based on type, the market is segmented into slurry TBM, earth pressure balance shield, open gripper, shielded, multi-mode, and others. Slurry TBM segment held the largest market share of APAC tunnel boring machine market in 2019. In terms of geology, the market is divided into soft ground, hard rock ground, variable ground, and heterogeneous ground. Soft ground segment held the largest market share of APAC tunnel boring machine market in 2019. Based on end-user, the tunnel boring machine market is segmented into transportation, metals & mining, oil & gas, and others. Transportation segment held the largest market share of APAC tunnel boring machine market in 2019.
The coronavirus epidemic pushed lockdowns across APAC countries after March 2019, paralyzing economic activity throughout the region as factories shut, resulting in manufacturing a pause. The region constitutes the world’s two most populated countries and manufacturing hubs across India and China. China virtually imposed strict lockdown and social isolation, which stopped manufacturing and producing various machinery for several weeks resulting in shrinking its country economy. Moreover, the country also isolated its import and export of critical raw materials and equipment for many industries impacting the supply chain of numerous end-users. Also, India imposed a nationwide lockdown to control the growing number of COVID-19 cases. Subsequently, the lockdown and disruption of various industrial machines across China and India have negatively impacted the market growth across the APAC in 2020. APAC is a crucial region for the growth of the construction and infrastructure industry due to various developing countries such as China, India, and Southeast Asian countries. Due to the COVID-19 outbreak, the construction and infrastructure activities have seen a sharp decline, with multiple projects on hold and labor unavailability due to movement restrictions in various countries. The government of various countries is taking drastic measures to reduce the effects coronavirus outbreak by announcing lockdowns, travel, and trade bans. All these measures are expected to have a negative impact on the demand for tunnel boring machines in this region till Mid-2021.
China Railway Construction Heavy Industry Co., Ltd.; Dalian Huarui Heavy Industry Group Co., Ltd.; Herrenknecht AG; Hitachi Zosen corporation; IHI Corporation; Kawasaki Heavy Industries, Ltd.; Komatsu Ltd.; TERRATEC Ltd.; The Robbins Company are among the leading companies in the APAC tunnel boring machine market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2020, India’s largest diameter TBM was packed at China Railway Construction Heavy Industry Co., Ltd. The first industrial park in the Changsha city, central-south of China. It will pass through Shanghai Port to Mumbai for a coastal road project.
The report segments the APAC Tunnel Boring Machine Market follows:
APAC Tunnel Boring Machine Market – By Type
- Slurry TBM
- Earth Pressure Balance Shield TBM
- Open Gripper TBM
- Shielded TBM
- Multi-Mode TBM
- Other Types
APAC Tunnel Boring Machine Market – By Geology
- Soft Ground
- Hard Rock Ground
- Variable Ground
- Heterogeneous Ground
APAC Tunnel Boring Machine Market – By End-User
- Metals & Mining
- Oil & Gas
- Other End-Users
APAC Tunnel Boring Machine Market – By Country
- South Korea
- Rest of APAC
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