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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
By Geology Type
By End-users
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.