A report published by Allied Market Research shows worldwide the analysis for opportunity and prediction for the year 2018 to 2025 of the Tunnel Boring Machine Market. The report provides detail analysis of the market. The global market cape of worldwide tunnel boring machine market was 5.1 billion US$ in the year 2017 and it will rise to 8.3 billion US$ in the year 2025. The CAGR during 2018-2025 will be 6.4%.
The technological advancements, rising investment in the infrastructure and micro-tunneling is expanding the market. On the basis of geology, the application of machine is divided into four types which includes Hard Rock Ground, Soft Ground, Variable Ground, and Heterogeneous Ground. The Heterogeneous Ground held one-third of the total market in the year 2017 and it is anticipated to be that way in the year 2025.
The major companies in the market include CRCHI, CRTE, Herrenknecht, Hitachi Zosen, Ishikawajima-Harima, Kawasaki, Komatsu Qinhuangdao, Robbins, and Tianye Tolian Heavy Industry Co., Ltd. The End User of this market is divided into, Metro & Transit, Mining, Utilities, Road Transport, Railway Transport Oil & Gas, and Others. Road market had the highest market share in the year 2017 and mining are expected to have the highest growth rate now.
The report will also analyze markets of various regions which includes the Middle East and Africa, Asia-Pacific, Latin America, Europe, and North America. Asia-Pacific had the highest share in the year 2017 which is nearly two-fifths of the market ratio and it will continue to dominate the market. A large number of investments has helped the domestic suppliers which have propelled the market.