Multi-Mode TBM Segment is Expected to be Fastest Growing During Forecast Period for MEA Region
According to The Insight Partners market research study on “MEA 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$ 338.06 million by 2027 from US$ 257.61 million in 2019. The market is estimated to grow at a CAGR of 3.8% from 2020 to 2027. The report provides trends prevailing in the MEA tunnel boring machine market along with the drivers and restraints pertaining to the market growth. Tunnel boring machines coming up with advanced technology is the major factor driving the growth of the MEA tunnel boring machine market. However, issues associated with considerable substantial capital investment hinders the growth of MEA tunnel boring machine market.
The MEA 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 MEA 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 MEA 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 MEA tunnel boring machine market in 2019.
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.
Dalian Huarui Heavy Industry Group Co., Ltd.; Hitachi Zosen corporation; IHI Corporation; Kawasaki Heavy Industries, Ltd.; Komatsu Ltd.; and TERRATEC Ltd. are among the leading companies in the MEA 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, Hitachi Zosen Corporation declared that the Tunnel Boring Machine (TBM) known as “Bertha” has completed mining for the SR 99 Alaskan Way Viaduct Replacement Project in Seattle.
The report segments the MEA Tunnel Boring Machine Market follows:
MEA Tunnel Boring Machine Market – By Type
- Slurry TBM
- Earth Pressure Balance Shield TBM
- Open Gripper TBM
- Shielded TBM
- Multi-Mode TBM
- Other Types
MEA Tunnel Boring Machine Market – By Geology
- Soft Ground
- Hard Rock Ground
- Variable Ground
- Heterogeneous Ground
MEA Tunnel Boring Machine Market – By End-User
- Transportation
- Metals & Mining
- Oil & Gas
- Other End-Users
MEA Tunnel Boring Machine Market – By Country
- South Africa
- Saudi Arabia
- UAE
- Rest of MEA
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