Underground Construction Equipment Market Size, Share & Trends Estimation Report By Type ( Tunnelling Equipment, Piercing Tools, Vibratory Plows),By Application ( Oil & Gas, Railway and Highway, Municipal Engineering), By Region, And Segment Forecasts, 2023 - 2030
The global Underground Construction Equipment Market is expected to grow at a CAGR of 5.5% during the forecast period, 2023-2030.
Underground Construction Equipment Market Definition:
Underground construction equipment is a large group of machines that are used to dig and tunnel below the surface of the earth. This market report divides the global underground construction equipment market into four types: tunnelling equipment, piercing tools, vibratory ploughs, and load and haul equipment. It also divides the market into oil & gas, railway, highway, municipal engineering, and other applications.
Underground Construction Equipment Market Overview:
From 2023 to 2030, the market for underground construction equipment is expected to grow at a rate of 5.5% per year on average. During the time of the forecast, this growth will happen. The growth of the market may be to blame for the growing need to build new infrastructure in all parts of the world and the rising investments in the transportation industry. During the time period covered by this estimate, the global market for underground construction equipment is expected to be led by the tunnelling equipment sector. This happened because of the kind of tools that were used. It's possible that this is because tunnels and metro lines are becoming more and more important in cities, which is driving the building of these infrastructures. During the forecast year, this market is also expected to grow thanks to more investments in the railway and highway sectors. This is because it is thought that the growth of this market will be good for the economy as a whole.
Tunnelling equipment is a type of construction equipment that is used to dig tunnels below the surface of the earth. Machines like tunnel boring machines (TBMs), pipe jacking machines, and microtunnelling systems fall into this category. Tunneling tools are needed to build water and sewer systems, as well as roads and railroads. It is expected that the global market for tunnelling equipment will grow a lot over the next few years. This is because underground building is becoming more popular in many parts of the world. During the time frame of the forecast, the global market is expected to be driven by rising urbanisation, industrialization, and infrastructure-related activities.
When building something, piercing tools are used to break up dirt and rock into smaller pieces. The main job of these tools is to dig a clean hole where pipes or cables can be buried. They have steel and tungsten carbide tips that can be replaced. These tips create a high-velocity vacuum that lets them easily dig up to 30 feet into the ground. There are many different kinds of tools for piercing. Some of the more common ones are rotary piercers, hole saws, and percussion bits.
Vibrating ploughs that move on their own are used to put in underground services like cables, pipes, and conduits. As subsurface utilities, conduits and pipes can also be put in place. Each of these machines has a vibrating blade that is attached to the place where it cuts. As the machine moves forward, the blade helps break up the soil and rock as it goes. Vibratory ploughs come in many shapes and sizes, and each one is made for a different job. The construction industry is expected to increase its demand for vibratory ploughs, which is expected to cause the global market for vibratory ploughs to grow at a fast rate over the next few years.
Load and Haul Equipment:
Load-and-haul equipment is used in the construction and mining industries to load, move, and dump different kinds of goods. These machines come in a huge range of sizes and capacities to meet the wide range of needs in the building industry. In the next few years, the mining industry is expected to drive up demand for load and haul equipment around the world at a fast rate.
In 2019, the railway and highway application sector was the leader of the market and made up more than 40.0% of all the money made around the world. This is because there are more people travelling, cities are growing quickly, and infrastructure needs are growing. Because of these things, there are more building projects, which has led to growth in this sector. Other countries' governments, like those of China, India, Japan, and Germany, are also working on a wide range of projects to expand the railway network. These plans include putting in more rail lines and extending the length of the tracks quickly. France Italy Spain Russia Turkey The United States of America. Australia Brazil Canada Mexico Poland Africa, South Other examples are things like water distribution systems, which are civil engineering projects. Wastewater treatment facilities are part of the infrastructure for public transportation, which includes bridges, motorways, and highways, airports, the maritime transportation system, seaports, etc.
Underground construction tools are used a lot in the oil and gas business, especially for drilling and finishing wells. Also, it is expected that this market will grow a lot during the time period covered by the report because there is more demand for natural gas around the world. North America has a large share of the global underground construction equipment market. This is because countries like Canada and the United States have a lot of oil and gas reserves. This is one reason why the area's industry is the best in the world.
During the time period covered by the forecast, it is expected that the Asia-Pacific region will continue to make more money than the rest of the world market. In 2019, the Asia-Pacific region controlled more than 40.0% of the world market. In countries like China, India, Japan, South Korea, and Australia, among others, there has been a rise in demand for underground construction. This has helped the region's economy grow quickly in recent years. South Korea, Japan, and Australia are some of the other countries in the area. On top of that, it is expected that the rapid growth of cities will increase the need for infrastructure, which will also help the regional market. In 2019, Europe was responsible for more than 10% of the whole.
|Units||Value (USD Billion)
|Growth Rate||CAGR of 5.5% from 2023 to 2030|
|Reasons to Purchase this Report||
Mitsubishi, Sandvik Group, Tenbusch Inc., Herrenknecht, CREC, CRCHI, Robbins, Tianhe, Wirth, Komatsu, NHI, Kawasaki, Ishikawajima-Harima, Terratec, SELI, Tianye Tolian, Geospatial Corporation
Equipment Used for Underground Construction The market research study provides a close watch on major competitors along with strategic analysis, micro and macro market trend and scenarios, pricing analysis, and an overall summary of the market conditions throughout the course of the forecast period. This study is both professional and comprehensive, concentrating on primary and secondary drivers, market share, leading segments, and regional analysis. In addition, the research analyses significant players, major collaborations, mergers and acquisitions, as well as rising innovations and corporate policies.
- Sandvik Mining and Construction, in partnership with Volvo Construction Equipment Europe, recently hosted a series of machinery demonstrations and customer events at Eskilstuna, Sweden, from the 4th – 7th of October. The purpose of these events was to demonstrate the synergies of the equipment available from the two companies, and to highlight the advantages customers may enjoy from the mutually compatible product lines. Additionally, Sandvik also launched some exciting new products including two new breakers.
- 10.2022: RE-CONNECT OUR JOINED INGENUITY: HERRENKNECHT AT BAUMA 2022
The ongoing trend towards urbanization, the increasing demand for mobility worldwide and the associated need to build new high-performance infrastructure underground continue to drive the tunnelling industry. In the coming decades, hundreds of new megacities will emerge, and today's metropolises will grow to immense size. Gigantic urban habitats whose citizens will need housing, drinking water, and environmentally friendly, flexible, and affordable mobility concepts. In addition, climate change and the complexity of our world require completely new approaches and technological innovations, also regarding the creation and use of underground infrastructure.
- October 26, 2022: Tunnelling technology award for Herrenknecht
The award was given for the next innovation boost in the mechanised production of tunnel infrastructure in soft ground formations with and without water-bearing layers. Using the latest technology for continuous tunnelling results in a significant reduction in construction times for longer tunnel sections. This new development is already being used in a high-impact mobility project in Europe.
This section of the research on the market for Underground Construction Equipment provides in-depth information on the segments at the country and regional level. As a result, it is easier for the strategist to determine the demographics that should be targeted by the relevant product or service and the opportunities that will arise in the near future.
- Tunnelling Equipment
- Piercing Tools
- Vibratory Plows
- Load and Haul Equipment
- Oil & Gas
- Railway and Highway
- Municipal Engineering
- Sandvik Group
- Tenbusch Inc.
- Tianye Tolian
- Geospatial Corporation