LONDON--(BUSINESS WIRE)--Technavio has announced the top six leading vendors in their recent global tunneling and rock drilling equipment market report until 2021. This research report also lists 25 other prominent vendors that are expected to impact the market during the forecast period.
The research study by Technavio on the global tunneling and rock drilling equipment market for 2017-2021 provides detailed industry analysis based on application (mining industry and construction industry) and geography (APAC, EMEA, and the Americas).
“The global tunneling and rock drilling equipment market is projected to grow to USD 1.65 billion by 2021, at a CAGR of close to 5% over the forecast period. The increasing infrastructure activities around the globe is creating a high demand for tunneling and rock drilling equipment, thereby driving the growth of the global market,” says Likhitha Bandla, a lead analyst at Technavio for construction research.
Competitive vendor landscape
The global tunneling and rock drilling equipment market is highly fragmented, with APAC being the major revenue contributor. The region has several regional vendors who compete with international vendors on economical rates. China dominates the region due to its enormous population and manufacturing-based economy, which makes it an ideal market for tunneling and rock drill equipment. Major global vendors of the industry are expanding their business units and investing heavily in the development of next generation product. The complexities faced by vendors to provide more customer-friendly product along with economical rate are major challenges.
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Top six vendors in the global tunneling and rock drilling equipment market
Atlas Copco
Atlas Copco started out as a manufacturer of railway products. The company businesses evolved in four distinct business segments: construction equipment, mining equipment, industrial tools, and compressed air and gas equipment.
Bessac – Tunnels & Microtunnels
Bessac - Tunnels & Microtunnels, a subsidiary of Soletanche Bachy (VINCI group), is a specialist in driving tunnels or micro-tunnels for drainage, subways, and suburban network.
Hitachi Zosen
Hitachi Zosen is the first company to manufacture world's first multiple-face shielding tunneling machine in 1987. The company has business units in various segments such as environmental systems industrial plant group, precision machinery group, infrastructure machinery, process equipment machinery, and machinery group.
Sandvik Construction
Sandvik Construction is a global engineering group providing high technology for metal cutting, mining, and construction. The company operates in three different business units that include Sandvik machine solutions, Sandvik mining and rock technology, and Sandvik materials technology.
SANYHE International Holdings
SANYHE International Holdings is an equipment manufacturer specialized in the manufacturing of construction equipment such as concrete machinery, pilling machinery, hoisting machinery, hydraulic excavators, crawler cranes, and hoisting machinery.
HERRENKNECHT
HERRENKNECHT provides a wide range of products for the application in tunnelings such as road tunneling and utility tunneling. It also provides services for the installment of TBM, geotechnical consulting, and rental equipment.
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Technavio is leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.
Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, resellers, and end-users.
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