Asia-Pacific Tunnel Boring Machine Market Growth Drivers and Forecast by 2027

The tunnel boring machine market in APAC is expected to grow from US$ 2,509.75 million in 2019 to US$ 4,027.81 million by 2027; it is estimated to grow at a CAGR of 6.5% from 2020 to 2027.

Australia, China, India, Japan, and South Korea are major economies in APAC. Rising rail infrastructure enhancement across APAC countries is driving the APAC tunnel boring machine market. Tunnels are also widely used for rail transportation in subways and metros across various APAC countries. Proper construction, management, and maintenance of tunnel systems include monitoring of multiple parameters, such as ventilation, lighting, signaling, gas concentration, air velocity & direction, temperature, and emergency response. Several developed economies, such as Japan and Singapore, and emerging economies—such as China, India, Vietnam, Malaysia, and Indonesia—are experiencing a growth in the railway industry; thus, the demand for tunnel boring machines in the region is expected to increase. Governments across the region are involved in investing in rail infrastructure that comprises various tunnels in the route and is well equipped with smart devices. For example, in May 2019, a tunnel boring machine was deployed in the Bandung high-speed train project, Jakarta. The speed train is equipped with transit-oriented development to create new economic centers. The project is likely to be finished in 2021. The tunnel boring machine is imported from China and was arrived at Tunnel #1 Halim at the 3+600 km point in Jakarta, Indonesia. Hence, rising rail projects in developed and developing countries and increasing investments in new infrastructure development are some of the key factors expected to offer ample growth opportunities to market players operating in the APAC tunnel boring machine market during the forecast period.     

The coronavirus epidemic pushed lockdowns across APAC countries after March 2019, paralyzing economic activity throughout the region as factories shut, resulting in manufacturing a pause. The region constitutes the world’s two most populated countries and manufacturing hubs across India and China. China virtually imposed strict lockdown and social isolation, which stopped manufacturing and producing various machinery for several weeks resulting in shrinking its country economy. Moreover, the country also isolated its import and export of critical raw materials and equipment for many industries impacting the supply chain of numerous end-users. Also, India imposed a nationwide lockdown to control the growing number of COVID-19 cases. Subsequently, the lockdown and disruption of various industrial machines across China and India have negatively impacted the market growth across the APAC in 2020. APAC is a crucial region for the growth of the construction and infrastructure industry due to various developing countries such as China, India, and Southeast Asian countries. Due to the COVID-19 outbreak, the construction and infrastructure activities have seen a sharp decline, with multiple projects on hold and labor unavailability due to movement restrictions in various countries. The government of various countries is taking drastic measures to reduce the effects coronavirus outbreak by announcing lockdowns, travel, and trade bans. All these measures are expected to have a negative impact on the demand for tunnel boring machines in this region till Mid-2021.

With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the APAC tunnel boring machine market. The APAC tunnel boring machine market is expected to grow at a good CAGR during the forecast period.

APAC Tunnel Boring Machine Market Segmentation

APAC Tunnel Boring Machine Market – By Type

• Slurry TBM
• Earth Pressure Balance Shield TBM
• Open Gripper TBM
• Shielded TBM
• Multi-Mode TBM
• Other Types

APAC Tunnel Boring Machine Market – By Geology

• Soft Ground
• Hard Rock Ground
• Variable Ground
• Heterogeneous Ground

APAC Tunnel Boring Machine Market – By End-User

• Transportation
• Metals & Mining
• Oil & Gas
• Other End-Users

APAC Tunnel Boring Machine Market, by Country

• Australia
• China
• India
• Japan
• South Korea
• Rest of APAC

APAC Tunnel Boring Machine Market - Companies Mentioned

 

• China Railway Construction Heavy Industry Co., Ltd.
• 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

Asia-Pacific Tunnel Boring Machine Report Scope