Middle East & Africa Tunnel Boring Machine Market
The MEA includes South Africa, Saudi Arabia, the UAE, and the Rest of MEA. The region is projected to have a rapid rise in urbanization and industrialization, which would further drive the growth of diverse industries. The Gulf Countries Council is planning various strategies to encourage collaboration, enhance innovation, streamline transportation, and improve their national economies. Consequently, it creates several opportunities to augment the infrastructure across the region. As per the tunneling tradition, the tunnel boring machine cannot commence work on a new project until it has been given a name, as it is considered the sign of good luck for the project ahead. Thus, the region is set to name several tunnel boring machines as the MEA is rapidly becoming a key market for tunneling and drilling equipment. As the MEA region is growing swiftly, major cities are becoming congested, and there is a surge in infrastructure construction. To meet the rising demand for infrastructure and address spatial limitations in developed cities, there is an increase in construction of tunnels. The transportation sector across the region is witnessing an unprecedented transformation. The adoption of smart city initiatives is also driving the market in the region. Thus, increasing demand for tunnel boring machines across the region is anticipated to bolster the market growth during the forecast period. Tunnel boring machines coming up with advanced technology is expected to create a significant demand for tunnel boring machine in the coming years, which is further anticipated to drive the MEA tunnel boring machine market.
The COVID-19 pandemic has adversely affected MEA. Iran and South Africa have the highest number of the COVID-19 positive cases in the MEA. The majority of the businesses in these countries have come to a halt and are expected to continue slower than usual pace. The countries are taking significant containment measures to control the spread of the virus. The COVID-19 pandemic in the Gulf Cooperation Council (GCC) is happening against already bleak economic conditions, in which consumer confidence has been weakening for the past few years owing to sluggish GDP growth, regional turbulence, and oil price declines. The region comprises many growing economies, such as UAE, that are prospective markets for tunnel boring machine providers due to the growing construction and infrastructure industry. Countries such as Dubai are at the forefront of technology adoption in various industries, including transportation. The demand for tunnel automation in Dubai is quite high, and the COVID-19 outbreak may hinder the demand till mid-2021 due to a decline in new infrastructure projects and activities.
Strategic insights for the Middle East & Africa 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$ 257.61 Million |
| Market Size by 2027 | US$ 338.06 Million |
| Global CAGR (2020 - 2027) | 3.8% |
| Historical Data | 2017-2018 |
| Forecast period | 2020-2027 |
| Segments Covered |
By Type
|
| Regions and Countries Covered | Middle East and Africa
|
| Market leaders and key company profiles |
The geographic scope of the Middle East & Africa 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 MEA is expected to grow from US$ 257.61 million in 2019 to US$ 338.06 million by 2027; it is estimated to grow at a CAGR of 3.8% from 2020 to 2027. Tunnel boring machines usually have diameters from 5–17 meters. Microtunnel boring machines are smaller, with an excavation diameter of ~4 meters. At present, microtunnel activities are widely used to construct several kilometers of underground infrastructure. It is considered a fast alternative to traditional pipe installation systems. It is an automated process of boring and pipe installation used for excavation utility facilities, such as wastewater, freshwater, oil & gas, communications, and electricity. These machines are rising since they create less environmental impact compared to conventional excavation methods. Microtunnels have grown in MEA to replace aging infrastructure. The requirement for enhanced infrastructure across MEA is robust and stronger as the existing utility systems are aging. Thus, the region is highly focused on investing in microtunneling projects to meet the growing requirements of infrastructure.
In terms of type, the slurry TBM segment accounted for the largest share of the MEA tunnel boring machine market in 2019. In terms of geology, the soft ground segment held a larger market share of the MEA tunnel boring machine market in 2019. In terms of end-user, the transportation segment held a larger market share of the MEA 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 MEA are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are Dalian Huarui Heavy Industry Group Co., Ltd.; Hitachi Zosen corporation; IHI Corporation; Kawasaki Heavy Industries, Ltd.; Komatsu Ltd.; and TERRATEC Ltd.
The Middle East & Africa Tunnel Boring Machine Market is valued at US$ 257.61 Million in 2019, it is projected to reach US$ 338.06 Million by 2027.
As per our report Middle East & Africa Tunnel Boring Machine Market, the market size is valued at US$ 257.61 Million in 2019, projecting it to reach US$ 338.06 Million by 2027. This translates to a CAGR of approximately 3.8% during the forecast period.
The Middle East & Africa 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 Middle East & Africa Tunnel Boring Machine Market report:
The Middle East & Africa Tunnel Boring Machine Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Middle East & Africa Tunnel Boring Machine Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Middle East & Africa Tunnel Boring Machine Market value chain can benefit from the information contained in a comprehensive market report.
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