Shotcrete Market - Insights, Opportunity Analysis, and Industry Forecast till 2025
Shotcrete is a technique used to pneumatically spray concrete through a hose at high velocity onto the surface. Factors such as growing underground construction activities such as tunneling and mining activities and rampant growth in infrastructure development are factors expected to boost growth of the shotcrete market during the forecast period (2017–2025). Robotic system segment is expected to dominate the shotcrete market over the forecast period and is expected to expand at a CAGR of 9.3% in terms of volume. According to a study conducted by Coherent Market Insights, the global robotic system market is projected to reach over 4,137.25 TCM by the end of 2017. Request For Sample Copy of this Research Report : https://www.coherentmarketinsights.com/insight/request-sample/280 Europe accounted for the largest share in the global shotcrete market in 2016, according to the stats provided by Coherent Market Insights. Increasing underground construction activities in Europe creates a highly conducive environment for growth of the global shotcrete market. For instance, in Europe the construction of metro rail project which will link from east-north and west-south, currently Attiko Metro company prepares to construct four new line, the project worth over US$ 3.61 billion and is expected to fuel the market for shotcrete during 2017-2025. Moreover, rapid investment in infrastructural development to provide reliable, sustainable and economic transportation in emerging economies such as India and China further fuels growth of the global shotcrete market. The National Highways and Infrastructure Development Corp. (NHIDCL)—a government undertaking company—plans to construct five mega tunnels in Jammu and Kashmir by 2024, at an estimated cost of US$ 3.58 billion. Moreover, according to India Brand Equity Foundation (IBEF)—a trust established by the Department of Commerce, Ministry of Commerce and Industry, Government of India—in April 23, 2017, a metro rail projects with a total route length of 903 kms in 13 cities are under consideration. The global shotcrete market size was valued at US$ 5,612.73 million and 19,140.94 TCM in 2016 and is expected. The market is expected to expand at a CAGR of 8.1% in terms of revenue and 8.3% in terms of volume during 2018 – 2025. Process Insights Among processes, wet-mix process segment accounts for the largest share in the shotcrete market. In this process, water is added to the cement mixture and sprayed through the nozzle wherein air and shotcrete accelerators are added. The wet-mix shotcrete process segment is projected to expand at a revenue CAGR of 9.8% over the forecast period. This is mainly attributed to its wide application in various applications in underground constructions, water retaining structures, and protective coatings. Also, wet-mix process is largely used in