Tunneling equipment refers to self-powered, self-propelled, or pull type equipment and machinery, which is specially designed to create big holes in the earth’s surface. The holes can be used to construct infrastructure projects. These include extraction of minerals or underground tunnels, railways and highways, and municipal engineering. Hydraulic drives are used as the primary source of motion in some equipment. Key players operating in the tunneling equipment market are focusing on adding innovative equipment to their product portfolio. They are also concentrating on introducing the latest product lines and carrying out manufacturing advancements in technology. These advancements include sensors and monitors, which help in the smooth functioning of the drilling and tunneling process. The new generation tunneling equipment is designed to cater to the practical working surroundings and needs of industry sites. Development of technology has enabled drilling and tunneling to be carried out at critical areas. Various types of tunneling equipment is available in the market; however, choosing the right type of tunneling equipment is imperative. Parameters for selecting tunneling equipment include material, complexity of the project, quality, cost, safety, and time.
The global tunneling equipment market is expected to expand at a rapid pace during the forecast period. Rise in infrastructure development around the world is the key factor anticipated to drive the tunneling equipment market during the forecast period. Significant increase in the number of mining projects and development of infrastructure are boosting economic growth by facilitating cross-border trade and industrial growth. This, in turn, is creating demand for tunneling equipment. Rise in government?private partnerships for the construction of public infrastructure systems such as metros or city rail systems in countries such as China and India, and increase in government initiatives regarding infrastructure development are propelling the tunneling equipment market. High initial capital investment and usage of high-class and expensive materials in the manufacture of equipment may act as restraining factors of the market. Growth in industrial projects and increase in number of projects that involve tunneling equipment such as construction, mining, oil & gas, and repowering of old projects are likely to provide lucrative opportunities to the tunneling equipment market during the forecast period. The usage of the recent technology of dismantling tunnels and advancements in the tunneling process are projected to create opportunities in the near future.
The tunneling equipment market can be segmented based on type, application, and region. Based on type, the tunneling equipment market can be divided into medium sized, large sized, heavy sized, and others. In terms of application, the tunneling equipment market can be segregated into aggregate mining, metal mining, coal mining, ready-mix, asphalt & paving, equipment rental, building, and infrastructure. In terms of region, the market can be divided into Europe, North America, Asia Pacific, Middle East & Africa, and South America. The tunneling equipment market in North America can be classified into the U.S., Mexico, and Rest of North America. Asia Pacific can be sub-segmented into Australia, New Zealand, China, India, and the Rest of Asia Pacific, while Europe can be divided into the U.K., Germany, Italy, and Rest of Europe.
Key players operating in the global tunneling equipment market are Atlas Copco AB, CREG TBM Germany GmbH, Bessac - Tunnels & Microtunnels, Robbins, Hitachi Zosen Corporation, Komatsu Mining Corp., Sandvik AB, Mitsubishi Heavy Industries, Ltd., SANYHE International Holdings Co., Ltd., Aker Wirth, HERRENKNECHT AG, China Railway Construction Heavy Industry Co., Ltd., Akkerman, and Astec Industries, Inc. Key operating players in the tunneling equipment market focus on design and develop smart, fuel- & energy-efficient machinery, thus accelerating the market growth. Furthermore, companies focus on launching quality and efficient products to retain their customer base.
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