Europe Tunnel Boring Machine Market
In Europe, the market is propelling due to increase in road infrastructure projects and deployment of microtunnels for wastewater applications. Europe is a crucial market for the future growth of the tunnel boring machine market. The region is characterized by well-developed countries—such as the UK, Germany, and France—which drive the adoption of tunnel boring machines equipped with advanced systems in road and railway tunnels. Additionally, the presence of a large number of tunnel boring machine manufacturers in this region is contributing to the increased penetration of tunnel boring machines in Europe. It is anticipated that the tunnel boring machine market in Europe would grow at a significant CAGR from 2020 to 2027. This can be attributed to growing demand for these machines from countries, such as UK, Germany, Italy, France, and Russia. Construction and transport infrastructure sectors are mounting at an impressive pace in these countries due to rise in disposable incomes, increase in urbanization, supportive government policies, and surge in number of public-private partnerships in the infrastructure sector. All these factors are anticipated to offer ample growth opportunities for tunnel boring machine market players in. Also, , microtunneling projects coming to focus is expected to create a significant demand for tunnel boring machine in the coming years, which is further anticipated to drive the Europe tunnel boring machine market.
In Europe, several countries suffered an economic hit due to a lack of revenue from various industries. Many of these member states have implemented drastic measures and travel restrictions, including partially closing their borders. This impacted market growth in Europe in 2020. The impact of COVID-19 varied from country to country across the European region as selected countries witnessed a surge in the number of confirmed cases and subsequently attracted stringent and more extended lockdown periods of social isolation resulting in disruption of business. European countries represent a significant market for tunnel boring machine adoption and growth due to rising investment by the government in railway and road infrastructure and tunnel automation initiatives in various countries. The lockdown has affected the tunnel infrastructure development in European countries and affected tunnel up-gradation activities, thus impacting the growth of the tunnel boring machine market in this region. In addition to this, the disruptions in raw materials and component supply from China aggravated the problems faced by tunnel boring machine manufacturers in this region. All these factors are expected to have a direct impact on the market growth in European countries. Russia, UK, Italy, Spain, and France markets witnessed worst impact in 2020 and likely till Mid-2021 also.
Strategic insights for the Europe 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$ 1,592.71 Million |
| Market Size by 2027 | US$ 2,370.81 Million |
| Global CAGR (2020 - 2027) | 5.5% |
| Historical Data | 2017-2018 |
| Forecast period | 2020-2027 |
| Segments Covered |
By Type
|
| Regions and Countries Covered | Europe
|
| Market leaders and key company profiles |
The geographic scope of the Europe 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 Europe is expected to grow from US$ 1,592.71 million in 2019 to US$ 2,370.81 million by 2027; it is estimated to grow at a CAGR of 5.5% from 2020 to 2027. Technological developments are of greater use in tunnel construction since they allow easy access to construction in any ground conditions. Innovative monitors and sensors placed in the tunnel boring machines help in the smooth functioning of machines while excavating. Large diameter tunnel projects for transport infrastructures have influenced the research and development in tunnel boring machine design. Advanced machines can cope with mixed rock/ground conditions and change their operational mode depending on ground conditions. Large machines with diameters ranging from 14 to 17 meters have been manufactured and utilized across the Europe. Innovative technologies are being developed in various countries to treat the ground ahead of the machine and control the groundwater inflows. In the coming years, the trend toward the machines with large diameters and the innovations in tunnel boring machine technology will surge, which will focus on developing new and more efficient systems to treat the ground ahead of the tunnel in different geologies. Thus, these factors would open the doors for opportunities in the coming years.
In terms of type, the slurry TBM segment accounted for the largest share of the EUROPE tunnel boring machine market in 2019. In terms of geology, the soft ground segment held a larger market share of the EUROPE tunnel boring machine market in 2019. In terms of end-user, the transportation segment held a larger market share of the EUROPE 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 Europe are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are CREG TBM Germany GmbH; 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 Europe Tunnel Boring Machine Market is valued at US$ 1,592.71 Million in 2019, it is projected to reach US$ 2,370.81 Million by 2027.
As per our report Europe Tunnel Boring Machine Market, the market size is valued at US$ 1,592.71 Million in 2019, projecting it to reach US$ 2,370.81 Million by 2027. This translates to a CAGR of approximately 5.5% during the forecast period.
The Europe 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 Europe Tunnel Boring Machine Market report:
The Europe Tunnel Boring Machine Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Europe Tunnel Boring Machine Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Europe Tunnel Boring Machine Market value chain can benefit from the information contained in a comprehensive market report.
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