During the review period, a noteworthy compound annual growth rate (CAGR) of 6.4% is projected for the India tunneling market for transportation.
The need for effective transportation infrastructure is rising because of India's fast urbanization and population expansion. Road construction activities nationwide have significantly increased because of the government's recognition of the need to improve road connectivity. The goal of programs like the Bharatmala Pari Yojana is to build national highways and enhance rural road connectivity to make it easier for people and products to move around. In recent years, India's highway construction speed has accelerated dramatically. A notable improvement over prior years, the average daily construction rate in 2020 was 36 kilometers per day. It is anticipated that this momentum would continue, since Union Minister Nitin Gadkari has set the lofty goal of accelerating construction to 68 kilometers per day by 2022–2023. The objective is to build 25,000 kilometers of national roadways in the fiscal year 2022–2023.
The Bharatmala Pariyojana, a flagship program of the Indian government, was introduced in October 2017 with the goal of improving the effectiveness of people and products mobility throughout the nation. This comprehensive initiative aims to fill in the current gaps in the national highway network to facilitate smoother connection and foster economic growth, acknowledging the urgent need for enhanced transportation infrastructure. Bharatmala's main objective is to build a strong, effective, and sustainable road network that benefits the logistics industry and raises people's standard of living in general.
India's Market Segmentation Type, tunneling method, project phase, tunneling type, material, depth, application, and geography are the factors that divide the tunneling market for transportation. The market is divided into different segments based on type, such as road tunnels, railway tunnels, metro tunnels, and others.
The market is divided into several segments based on the type of tunneling technique, including drill and blast, cut-and-cover, bored, new Austrian tunneling method (NATM), sequential excavation, and others.
The market is divided into design and planning, construction, operation and maintenance, and other categories according to the stage of the project. The market is divided into different segments based on the type of tunneling, such as mixed ground conditions, hard rock tunneling, and soft ground tunneling.
The market is categorized by material types, including composite materials, steel, concrete, and others.
The market is divided into shallow tunnels, deep tunnels, and other categories based on depth. The market is divided into three segments based on application: urban, rural, and mountainous. The market is divided into East, West, North, and South India based on geographic location.
Key Players
Leading firms in this sector include Tata Consulting Engineers Limited, Afcons Infrastructure Limited, Larsen & Toubro (L&T), and Tata Projects Limited, among others.
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