Global Market Insights provides a detailed overview of Tunneling Equipment Market with respect to the pivotal drivers influencing the revenue graph of this business sphere. The current trends of market in conjunction with the geographical landscape, demand spectrum, remuneration scale, and growth graph of this vertical have also been included in this report.
The rapid increase in the number of infrastructure projects for enhancing transportation facilities is promoting the demand for these machines globally. Additionally, the increasing need for energy, minerals, and metals is leading to coal mining activities, further fueling the tunneling equipment market size. The rise in public & private partnerships for the construction of public infrastructures, such as metros and city railway systems, in developing countries is creating the demand for these machines.
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A technical trend in the tunneling equipment market is the Earth Pressure Balance (EPB) technology, which is utilized in soft soil surface conditions and provides external support by creating a paste of excavated soil. The market is gaining popularity due to the growing road & railway infrastructure construction across the globe.
The high deployment cost of these machines is a major factor hindering the tunneling equipment market growth. These machines include expensive components and parts such as conveyor belts, control rooms, slurry pipelines, ventilation systems, and electrical systems, which add up to the product cost. The transportation of these machines is a tough task and creates a high cost of transport. Additionally, the lack of flexibility & compatibility issues in these machines is a challenge in the market. This increases the complexity of installation of the components due to the lack of compatibility issue, hindering the industry. These machines consume high energy and require a significant backup system.
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The Middle East & Africa region is witnessing high adoption of these machines owing to the increasing need for energy resources leading to several mining activities. The rapidly developing oil-gas & mining sector in this region is supporting the market growth.
The major players operating in the tunneling equipment market share are Atlas Copco, Bessac, Hitachi Zosen, Sandvik Constructions, SANYHE International Holdings, CREG, Mitsubishi Heavy Industries, Aker Wirth, Komatsu Mining Corp., and HERRENKNECHT AG. These players are highly investing in R&D activities to develop technically advanced and fuel & energy-efficient products to strengthen their product portfolio. The companies in the market are focusing on various strategies, such as merger & acquisition and collaborations & partnerships, to gain high profits.
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