Asia-Pacific Tunnel Boring Machine Market
The tunnel boring machine market in APAC has been analyzed based on historical, current, and future trends across the region. APAC is the fastest-growing region since the market players are experiencing significant demand for their products due to constant development in transportation infrastructure and road and rail infrastructure across the region. China and Japan are the leading countries in the APAC tunnel boring machine market. The key reason behind significant demand in the aforementioned countries is the steep rise in government investment for the development of road and rail line infrastructure, including the construction of various tunnels in the route. In India, Delhi Metro Rail Corporation entrusted offering a Mass Rapid Transportation System (MRTS) network to Delhi City. The MRTS network is a mix of at grade, elevated, and underground. 190 km of the metro network was operational, out of which 48 km was underground. For the underground network, the tunnels were constructed by slurry type shield machine. In the next phase of the project, the railway station used 14 tunnel boring machines to construct a tunnel with a diameter of 5.8 meters. During the project, as per geology parameters, the tunnel boring machines of Mitsubishi, M/s Herenknecht, and Kawasaki were selected. Rising rail infrastructure enhancement across APAC countries is expected to create a significant demand for tunnel boring machine in the coming years, which is further anticipated to drive the APAC tunnel boring machine market.
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.
Strategic insights for the Asia-Pacific Tunnel Boring Machine provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.
| Report Attribute | Details |
|---|---|
| Market size in 2019 | US$ 2,509.75 Million |
| Market Size by 2027 | US$ 4,027.81 Million |
| Global CAGR (2020 - 2027) | 6.5% |
| Historical Data | 2017-2018 |
| Forecast period | 2020-2027 |
| Segments Covered |
By Type
|
| Regions and Countries Covered | Asia-Pacific
|
| Market leaders and key company profiles |
The geographic scope of the Asia-Pacific Tunnel Boring Machine refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.
The tunnel boring machine market in APAC is expected to grow from US$ 2,509.75 million in 2019 to US$ 4,027.81 million by 2027; it is estimated to grow at a CAGR of 6.5% from 2020 to 2027. The APAC road infrastructure and construction industry are growing at an impressive pace due to rising population and urbanization levels, especially in the developed and developing countries of APAC. Rising government expenditure on infrastructure and swiftly growing road network expansions across all the countries are driving the APAC market. Spending on new transport infrastructure in various potential countries and upgrade of existing infrastructure are fueling the demand for tunnel boring machines. Infrastructure upgrading activities, development of smart cities, and rise in trend of tunnel automation are some of the major factors fueling the APAC market. Several governments of major countries are involved in designing tunnels for smooth road transport and reduced travel times.
In terms of type, the slurry TBM segment accounted for the largest share of the APAC tunnel boring machine market in 2019. In terms of geology, the soft ground segment held a larger market share of the APAC tunnel boring machine market in 2019. In terms of end-user, the transportation segment held a larger market share of the APAC tunnel boring machine market in 2019.
A few major primary and secondary sources referred to for preparing this report on the tunnel boring machine market in APAC are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are 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.
The Asia-Pacific Tunnel Boring Machine Market is valued at US$ 2,509.75 Million in 2019, it is projected to reach US$ 4,027.81 Million by 2027.
As per our report Asia-Pacific Tunnel Boring Machine Market, the market size is valued at US$ 2,509.75 Million in 2019, projecting it to reach US$ 4,027.81 Million by 2027. This translates to a CAGR of approximately 6.5% during the forecast period.
The Asia-Pacific Tunnel Boring Machine Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Asia-Pacific Tunnel Boring Machine Market report:
The Asia-Pacific Tunnel Boring Machine Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Asia-Pacific Tunnel Boring Machine Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Asia-Pacific Tunnel Boring Machine Market value chain can benefit from the information contained in a comprehensive market report.
Office No. 1011, First floor, Farena Corporate Park, Magarpatta-Mundhwa road, Pune - 411028, Maharashtra, India
US:+16467917070
sales@businessmarketinsights.com
Get Free Sample For Asia-Pacific Tunnel Boring Machine Market
