The Global Shotcrete Market was valued at US$ 5.61 billion in 2016, according to a new report published by Coherent Market Insights. Shotcrete is a technique used to spray concrete through a hose at high velocity onto surface pneumatically. The concrete mixed with water are sprayed through a nozzle over the substrate. Growing population and propelling economy of Asia Pacific leads to infrastructure development and sustainable public transport. Rapid investment in underground tunneling and metro rail construction to avoid traffic and reduce travelling time in densely populated region of Asia Pacific is expected to lead to exponential growth of the market for shotcrete during 2017-2025. Moreover, technological advancements in shotcrete, would further increase its application area during the forecast period. For instance, Shot-Tech robotic system deploys a remote-controlled spraying arm for underground and tunneling construction purposes. Putzmeister Shotcrete Technology is leading the industry for design and manufacture of wet- and dry-process shotcrete equipment.
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Europe held a dominant position in the global shotcrete market in 2016, owing to rampant development in the public transportation systems in the region. The region comprises a swift transportation system of metro rail and tunnels with several other underground tunnels underway. Moreover, wet-mix shotcrete is expected to replace conventional concrete in underground construction, which in turn, is increasing the demand for shortcrete, in turn, boosting the shortcrete market growth. Also, the market in North America is expected to witness significant growth during the forecast period, owing to increasing infrastructure development activities inline in the near future. For instance, New York East Side Access worth over US$ 10 billion, Honolulu Rail Transit project worth over US$ 6 billion, Toronto’s Eglinton Crosstown light rail project worth over US$ 5 billion, Los Angeles’ Purple Line Extension Phase-1 project worth over US$ 2.8 billion, Seattle’s East Link Light Rail project worth over US$ 2.8 billion and Washington’s Silver Line Phase-2 project worth over US$ 2.8 billion are expected to propel the market for shotcrete in the near future.
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