Tunnel boring machine market is foreseen to grow at the fastest rate owing to the ongoing urbanization and increasing expenditure on roads and railway infrastructure. The market growth of a tunnel boring machine entirely depends on booming transportation sectors and rising need connects the cities in order to enhance commerce. Increasing construction of a road tunnel and railway tunnel along with the utilization of tunnel boring machine for hydropower, pipeline, and water and sewage is further expected to boost the market growth.
According to the latest report added by Value Market Research, the Global Tunnel Boring Machine Market was valued USD 3,862.5 MN (by revenue) in 2018 and is anticipated to reach USD 4,750.4 MN by 2025 with a CAGR of 3%.
HARD ROCK HAS EMERGED AS THE HIGHLY PREFERRED TBM PRODUCT
Hard rock TBM is accounted for the highest share in the market owing to its ability to excavating large-diameter tunnels in hard rock. This product helps to design and construct a high-scale tunnel project successfully. Therefore, the rising number of tunnel projects in order to enhance the road and railway infrastructure is expected to propel the segment growth.
MUNICIPAL ENGINEERING ACCOUNTED FOR THE LARGEST SHARE
Municipal engineering is dominating the segment owing to rising utilization of TBM product for management and disposal of waste and other municipal tasks such as water supply system, treatment of water and other public places in order to provide the safe, clean, and useful environment.
ASIA-PACIFIC IS DOMINATING THE GLOBAL TBM MARKET
Asia-pacific is ruling the global TBM market owing to rising government expenditure on infrastructure along with the rising number of road and railway tunnel infrastructure. Also, the rising application of TBM in wastewater treatment in the region is also expected to expand the industry expansion.
MAJOR PLAYERS ENGAGED IN THE MARKET
Herrenknecht, Hitachi Zosen Corporation, Jim Technology Corporation, Kawasaki, Komatsu, Northern Heavy Industries Group Co., Ltd., SELI, Shanghai Tunnel Engineering Co., Ltd., and Tianye Tolian.
As per this study the Global Tunnel Boring Machine Market was valued USD 5.76 BN (by revenue) in 2022 and is anticipated to reach USD 10.58 BN by 2030 with a CAGR of 7.9%. Regarding volume, the market was calculated XX Units in 2022 and forecast to touch XX Units by 2030 with a CAGR of XX% during 2023-2030.
Tunnel boring machines are referred to as special-purpose machines, basically used in the manufacture of tunnels for roads, railways, and pipelines. These tunnel boring machines are long with circular cross-sections and help in boring round holes through any rock. Also, these machines can cut clean through rocks, sometimes along with creating concrete shields around the bored tunnels. The diameter of tunnel boring machines ranges from 1 meter to 20 meters.
Market Dynamics
The market for tunnel boring machine market is mainly driven by the rise in spending on road and railway infrastructure by government. Also, to connect major cities within the country, with minimum commute time in order to reduce transportation costs and connects cities to boost commerce is expected to drive the market growth. Further, ongoing urbanization and rapid growth of industrialization are again expected to propel the market growth in the years to come.
This detailed market study is centered on the data obtained from multiple sources and is analyzed using numerous tools including porter's five forces analysis, market attractiveness analysis and value chain analysis. These tools are employed to gain insights of the potential value of the market facilitating the business strategists with the latest growth opportunities. Additionally, these tools also provide a detailed analysis of each application/product segment in the global market of tunnel boring machine.
Market Segmentation
The broad tunnel boring machine market has been sub-grouped into product and application. The report studies these subsets with respect to the geographical segmentation. The strategists can gain a detailed insight and devise appropriate strategies to target specific market. This detail will lead to a focused approach leading to identification of better opportunities.
By Machine Type
- Slurry TBM
- Earth Pressure Balance Shield TBM
- Shielded TBM
- Multi-Mode TBM
- Others
By Geology Type
- Soft Ground
- Hard Rock Ground
- Heterogenous Ground
- Variable Ground
By End-users
- Road Transport
- Railway Transport
- Metro & Transit
- Utilities
- Mining
- Oil & Gas
- Others
Regional Analysis
Furthermore, the report comprises of the geographical segmentation which mainly focuses on current and forecast demand for tunnel boring machine in North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The report further focuses on demand for individual application segments in all the regions.
Global Tunnel Boring Machine Market Share by Region (Representative Graph)
The report also covers detailed competitive landscape including company profiles of key players operating in the global market. The key players in the Tunnel Boring Machine market include China Railway Construction Heavy Industry Co. Ltd., China Railway Engineering Equipment Group Co. Ltd., Dalian Huarui Heavy Industry Group Co. Ltd., Herrenknecht AG, Hitachi Zosen Corporation, IHI Corporation, Kawasaki Heavy Industries Ltd, Komatsu Ltd., Northern Heavy Industries Group Co. Ltd. (The Robbins Company Inc.), Qinhuangdao Tianye Tolian Heavy Industry Co. Ltd. An in-depth view of the competitive outlook includes future capacities, key mergers & acquisitions, financial overview, partnerships, collaborations, new product launches, new product developments and other developments with information in terms of H.Q.
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