US was the Largest Market in the North American Tunneling and Drilling Equipment Market in 2013

Date: 2015-09-17

“• The Asia-Pacific tunneling and drilling equipment market recorded a review-period CAGR of 1.41%. China held the largest share of the Asia-Pacific market, with a 61.6% share in 2013, followed by Australia, India, Japan and South Korea, with respective shares of 15.0%, 8.4%, 6.8% and 3.9%.

• The European tunneling and drilling equipment market covers the markets of 26 European countries. Russia held the largest share in 2013, with 19.8%, followed by Germany, Italy, Sweden, Turkey and the UK, with 17.6%, 12.0%, 10.6%, 8.6% and 7.4% respectively. The European tunneling and drilling equipment market recorded a review-period CAGR of 6.59%, and is expected to record a forecast-period CAGR of 6.11%, due to the anticipated easing of the debt crisis and the growth of the construction industry.

• The US was the largest market in the North American tunneling and drilling equipment market, with an 87.5% share in 2013, while Canada accounted for the remainder. Owing to a low base-year value, the North American tunneling and drilling equipment market recorded a review-period CAGR of 19.84%. The market is expected to post a forecast-period CAGR of 5.87%, driven largely by recovery in the US construction industry.

• In the Latin American tunneling and drilling equipment market, Mexico accounted for the largest share with 46.9% in 2013, followed by Brazil, Colombia and Argentina with 23.8%, 19.0% and 10.3% respectively. The market registered a review-period CAGR of -0.37% and is expected to grow at a forecast-period CAGR of 5.30%. Brazil is expected to be a key source of demand for tunneling and drilling equipment in Latin America over the forecast period, as the country hosts the 2016 Olympic Games.

• The Middle Eastern tunneling and drilling equipment market was the smallest regional market in 2013, accounting for 3.2% of the global market. Saudi Arabia was the largest market in the region in 2013, with a 47.7% share, followed by the UAE, Qatar and Bahrain with 47.2%, 2.9% and 2.1% respectively.”

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