Tunnel Boring Machine Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Report
144 Pages
May 2023
Region: Global
IMARC Group
ID: 5820632

The global tunnel boring machine market size reached US$ 5.5 Billion in 2022. Looking forward, the publisher expects the market to reach US$ 7.1 Billion by 2028, exhibiting a growth rate (CAGR) of 3.9% during 2023-2028.

A tunnel boring machine (TBM) is advanced equipment that helps excavate tunnels with a circular cross-section through various soil and rock strata. It is an alternative to the drilling and blasting (D&B) method and conventional hand mining of soil. It reduces the disturbance caused to the surrounding ground and produces a smooth tunnel wall. In addition, it minimizes the cost of lining the tunnel and makes the tunnel suitable for use in heavily urbanized areas. It also offers several advantages, including continuous operation, lesser rock damages, fewer support requirements, and higher efficiency and worker safety.

Tunnel Boring Machine Market Trends:

The increasing utilization of TBMs in the mining industry, along with new innovations in rock cutting technology, represents one of the key factors driving the market. In addition, governments of several countries are extensively investing in infrastructural development like highways. This, along with the extensive application of TBMs in the water pipeline, hydropower, and oil and gas pipeline projects, is positively influencing the market. Besides this, the growing tunnel safety regulations and improving underground infrastructure around the world are contributing to the growth of the market. Additionally, rising awareness about the advantages of TBMs, such as high specific gravity and viscosity, and stability under high pressure, is propelling the overall sales of TBMs. Some of the other factors offering lucrative growth opportunities to market players are rapid urbanization, increasing development of smart cities, and the growing trend of tunnel automation. These players are also focusing on microtunnel activities to construct several kilometers of underground infrastructure worldwide to increase their overall sales and profitability, which is projected to strengthen the growth of the market.

Key Market Segmentation:

The publisher provides an analysis of the key trends in each sub-segment of the global tunnel boring machine market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on machine type, product type, application and end user.

Breakup by Machine Type:

Slurry TBM
Earth Pressure Balance Shield TBM
Shielded TBM
Multi-Mode TBM
Others

Breakup by Product Type:

Soft Ground TBM
Hard Ground TBM

Breakup by Application:

Traffic Tunneling
Utility Tunneling

Breakup by End User:

Road Transport
Railway Transport
Metro and Transit
Utilities
Mining
Oil and Gas
Others

Breakup by Region:

North America

United States
Canada

Asia-Pacific

China
Japan
India
South Korea
Australia
Indonesia
Others

Europe

Germany
France
United Kingdom
Italy
Spain
Russia
Others

Latin America

Brazil
Mexico
Others

Middle East and Africa

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players being Akkerman Inc., China Railway Construction Heavy Industry Corporation Limited, China Railway Engineering Equipment Group Co. Ltd. (China Railway Hi-Tech Industry Corporation Limited), 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. and Sika AG.

Key Questions Answered in This Report:

What was the size of the global tunnel boring machine market in 2022?
What is the expected growth rate of the global tunnel boring machine market during 2023-2028?
What are the key factors driving the global tunnel boring machine market?
What has been the impact of COVID-19 on the global tunnel boring machine market?
What is the breakup of the global tunnel boring machine market based on the machine type?
What is the breakup of the global tunnel boring machine market based on the product type?
What is the breakup of the global tunnel boring machine market based on the application?
What is the breakup of the global tunnel boring machine market based on the end user?
What are the key regions in the global tunnel boring machine market?
Who are the key players/companies in the global tunnel boring machine market?

1 Preface

2 Scope and Methodology

2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
2.3.1 Primary Sources
2.3.2 Secondary Sources
2.4 Market Estimation
2.4.1 Bottom-Up Approach
2.4.2 Top-Down Approach
2.5 Forecasting Methodology

3 Executive Summary

4 Introduction

4.1 Overview
4.2 Key Industry Trends

5 Global Tunnel Boring Machine Market

5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Forecast

6 Market Breakup by Machine Type

6.1 Slurry TBM
6.1.1 Market Trends
6.1.2 Market Forecast
6.2 Earth Pressure Balance Shield TBM
6.2.1 Market Trends
6.2.2 Market Forecast
6.3 Shielded TBM
6.3.1 Market Trends
6.3.2 Market Forecast
6.4 Multi-Mode TBM
6.4.1 Market Trends
6.4.2 Market Forecast
6.5 Others
6.5.1 Market Trends
6.5.2 Market Forecast

7 Market Breakup by Product Type

7.1 Soft Ground TBM
7.1.1 Market Trends
7.1.2 Market Forecast
7.2 Hard Ground TBM
7.2.1 Market Trends
7.2.2 Market Forecast

8 Market Breakup by Application

8.1 Traffic Tunneling
8.1.1 Market Trends
8.1.2 Market Forecast
8.2 Utility Tunneling
8.2.1 Market Trends
8.2.2 Market Forecast

9 Market Breakup by End User

9.1 Road Transport
9.1.1 Market Trends
9.1.2 Market Forecast
9.2 Railway Transport
9.2.1 Market Trends
9.2.2 Market Forecast
9.3 Metro and Transit
9.3.1 Market Trends
9.3.2 Market Forecast
9.4 Utilities
9.4.1 Market Trends
9.4.2 Market Forecast
9.5 Mining
9.5.1 Market Trends
9.5.2 Market Forecast
9.6 Oil and Gas
9.6.1 Market Trends
9.6.2 Market Forecast
9.7 Others
9.7.1 Market Trends
9.7.2 Market Forecast

10 Market Breakup by Region

10.1 North America
10.1.1 United States
10.1.1.1 Market Trends
10.1.1.2 Market Forecast
10.1.2 Canada
10.1.2.1 Market Trends
10.1.2.2 Market Forecast
10.2 Asia-Pacific
10.2.1 China
10.2.1.1 Market Trends
10.2.1.2 Market Forecast
10.2.2 Japan
10.2.2.1 Market Trends
10.2.2.2 Market Forecast
10.2.3 India
10.2.3.1 Market Trends
10.2.3.2 Market Forecast
10.2.4 South Korea
10.2.4.1 Market Trends
10.2.4.2 Market Forecast
10.2.5 Australia
10.2.5.1 Market Trends
10.2.5.2 Market Forecast
10.2.6 Indonesia
10.2.6.1 Market Trends
10.2.6.2 Market Forecast
10.2.7 Others
10.2.7.1 Market Trends
10.2.7.2 Market Forecast
10.3 Europe
10.3.1 Germany
10.3.1.1 Market Trends
10.3.1.2 Market Forecast
10.3.2 France
10.3.2.1 Market Trends
10.3.2.2 Market Forecast
10.3.3 United Kingdom
10.3.3.1 Market Trends
10.3.3.2 Market Forecast
10.3.4 Italy
10.3.4.1 Market Trends
10.3.4.2 Market Forecast
10.3.5 Spain
10.3.5.1 Market Trends
10.3.5.2 Market Forecast
10.3.6 Russia
10.3.6.1 Market Trends
10.3.6.2 Market Forecast
10.3.7 Others
10.3.7.1 Market Trends
10.3.7.2 Market Forecast
10.4 Latin America
10.4.1 Brazil
10.4.1.1 Market Trends
10.4.1.2 Market Forecast
10.4.2 Mexico
10.4.2.1 Market Trends
10.4.2.2 Market Forecast
10.4.3 Others
10.4.3.1 Market Trends
10.4.3.2 Market Forecast
10.5 Middle East and Africa
10.5.1 Market Trends
10.5.2 Market Breakup by Country
10.5.3 Market Forecast

11 SWOT Analysis

11.1 Overview
11.2 Strengths
11.3 Weaknesses
11.4 Opportunities
11.5 Threats

12 Value Chain Analysis

13 Porters Five Forces Analysis

13.1 Overview
13.2 Bargaining Power of Buyers
13.3 Bargaining Power of Suppliers
13.4 Degree of Competition
13.5 Threat of New Entrants
13.6 Threat of Substitutes

14 Price Analysis

15 Competitive Landscape

15.1 Market Structure
15.2 Key Players
15.3 Profiles of Key Players
15.3.1 Akkerman Inc.
15.3.1.1 Company Overview
15.3.1.2 Product Portfolio
15.3.2 China Railway Construction Heavy Industry Corporation Limited
15.3.2.1 Company Overview
15.3.2.2 Product Portfolio
15.3.3 China Railway Engineering Equipment Group Co. Ltd. (China Railway Hi-Tech Industry Corporation Limited)
15.3.3.1 Company Overview
15.3.3.2 Product Portfolio
15.3.4 Dalian Huarui Heavy Industry Group Co. Ltd.
15.3.4.1 Company Overview
15.3.4.2 Product Portfolio
15.3.4.3 Financials
15.3.5 Herrenknecht AG
15.3.5.1 Company Overview
15.3.5.2 Product Portfolio
15.3.6 Hitachi Zosen Corporation
15.3.6.1 Company Overview
15.3.6.2 Product Portfolio
15.3.6.3 Financials
15.3.6.4 SWOT Analysis
15.3.7 IHI Corporation
15.3.7.1 Company Overview
15.3.7.2 Product Portfolio
15.3.7.3 Financials
15.3.7.4 SWOT Analysis
15.3.8 Kawasaki Heavy Industries Ltd.
15.3.8.1 Company Overview
15.3.8.2 Product Portfolio
15.3.8.3 Financials
15.3.8.4 SWOT Analysis
15.3.9 Komatsu Ltd.
15.3.9.1 Company Overview
15.3.9.2 Product Portfolio
15.3.9.3 Financials
15.3.9.4 SWOT Analysis
15.3.10 Northern Heavy Industries Group Co. Ltd.
15.3.10.1 Company Overview
15.3.10.2 Product Portfolio
15.3.11 Sika AG
15.3.11.1 Company Overview
15.3.11.2 Product Portfolio
15.3.11.3 Financials

List of Figures

Figure 1: Global: Tunnel Boring Machine Market: Major Drivers and Challenges
Figure 2: Global: Tunnel Boring Machine Market: Sales Value (in Billion US$), 2017-2022
Figure 3: Global: Tunnel Boring Machine Market Forecast: Sales Value (in Billion US$), 2023-2028
Figure 4: Global: Tunnel Boring Machine Market: Breakup by Machine Type (in %), 2022
Figure 5: Global: Tunnel Boring Machine Market: Breakup by Product Type (in %), 2022
Figure 6: Global: Tunnel Boring Machine Market: Breakup by Application (in %), 2022
Figure 7: Global: Tunnel Boring Machine Market: Breakup by End User (in %), 2022
Figure 8: Global: Tunnel Boring Machine Market: Breakup by Region (in %), 2022
Figure 9: Global: Tunnel Boring Machine (Slurry TBM) Market: Sales Value (in Million US$), 2017 & 2022
Figure 10: Global: Tunnel Boring Machine (Slurry TBM) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 11: Global: Tunnel Boring Machine (Earth Pressure Balance Shield TBM) Market: Sales Value (in Million US$), 2017 & 2022
Figure 12: Global: Tunnel Boring Machine (Earth Pressure Balance Shield TBM) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 13: Global: Tunnel Boring Machine (Shielded TBM) Market: Sales Value (in Million US$), 2017 & 2022
Figure 14: Global: Tunnel Boring Machine (Shielded TBM) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 15: Global: Tunnel Boring Machine (Multi-Mode TBM) Market: Sales Value (in Million US$), 2017 & 2022
Figure 16: Global: Tunnel Boring Machine (Multi-Mode TBM) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 17: Global: Tunnel Boring Machine (Other Machine Types) Market: Sales Value (in Million US$), 2017 & 2022
Figure 18: Global: Tunnel Boring Machine (Other Machine Types) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 19: Global: Tunnel Boring Machine (Soft Ground TBM) Market: Sales Value (in Million US$), 2017 & 2022
Figure 20: Global: Tunnel Boring Machine (Soft Ground TBM) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 21: Global: Tunnel Boring Machine (Hard Ground TBM) Market: Sales Value (in Million US$), 2017 & 2022
Figure 22: Global: Tunnel Boring Machine (Hard Ground TBM) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 23: Global: Tunnel Boring Machine (Traffic Tunneling) Market: Sales Value (in Million US$), 2017 & 2022
Figure 24: Global: Tunnel Boring Machine (Traffic Tunneling) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 25: Global: Tunnel Boring Machine (Utility Tunneling) Market: Sales Value (in Million US$), 2017 & 2022
Figure 26: Global: Tunnel Boring Machine (Utility Tunneling) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 27: Global: Tunnel Boring Machine (Road Transport) Market: Sales Value (in Million US$), 2017 & 2022
Figure 28: Global: Tunnel Boring Machine (Road Transport) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 29: Global: Tunnel Boring Machine (Railway Transport) Market: Sales Value (in Million US$), 2017 & 2022
Figure 30: Global: Tunnel Boring Machine (Railway Transport) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 31: Global: Tunnel Boring Machine (Metro and Transit) Market: Sales Value (in Million US$), 2017 & 2022
Figure 32: Global: Tunnel Boring Machine (Metro and Transit) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 33: Global: Tunnel Boring Machine (Utilities) Market: Sales Value (in Million US$), 2017 & 2022
Figure 34: Global: Tunnel Boring Machine (Utilities) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 35: Global: Tunnel Boring Machine (Mining) Market: Sales Value (in Million US$), 2017 & 2022
Figure 36: Global: Tunnel Boring Machine (Mining) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 37: Global: Tunnel Boring Machine (Oil and Gas) Market: Sales Value (in Million US$), 2017 & 2022
Figure 38: Global: Tunnel Boring Machine (Oil and Gas) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 39: Global: Tunnel Boring Machine (Other End Users) Market: Sales Value (in Million US$), 2017 & 2022
Figure 40: Global: Tunnel Boring Machine (Other End Users) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 41: North America: Tunnel Boring Machine Market: Sales Value (in Million US$), 2017 & 2022
Figure 42: North America: Tunnel Boring Machine Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 43: United States: Tunnel Boring Machine Market: Sales Value (in Million US$), 2017 & 2022
Figure 44: United States: Tunnel Boring Machine Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 45: Canada: Tunnel Boring Machine Market: Sales Value (in Million US$), 2017 & 2022
Figure 46: Canada: Tunnel Boring Machine Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 47: Asia-Pacific: Tunnel Boring Machine Market: Sales Value (in Million US$), 2017 & 2022
Figure 48: Asia-Pacific: Tunnel Boring Machine Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 49: China: Tunnel Boring Machine Market: Sales Value (in Million US$), 2017 & 2022
Figure 50: China: Tunnel Boring Machine Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 51: Japan: Tunnel Boring Machine Market: Sales Value (in Million US$), 2017 & 2022
Figure 52: Japan: Tunnel Boring Machine Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 53: India: Tunnel Boring Machine Market: Sales Value (in Million US$), 2017 & 2022
Figure 54: India: Tunnel Boring Machine Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 55: South Korea: Tunnel Boring Machine Market: Sales Value (in Million US$), 2017 & 2022
Figure 56: South Korea: Tunnel Boring Machine Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 57: Australia: Tunnel Boring Machine Market: Sales Value (in Million US$), 2017 & 2022
Figure 58: Australia: Tunnel Boring Machine Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 59: Indonesia: Tunnel Boring Machine Market: Sales Value (in Million US$), 2017 & 2022
Figure 60: Indonesia: Tunnel Boring Machine Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 61: Others: Tunnel Boring Machine Market: Sales Value (in Million US$), 2017 & 2022
Figure 62: Others: Tunnel Boring Machine Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 63: Europe: Tunnel Boring Machine Market: Sales Value (in Million US$), 2017 & 2022
Figure 64: Europe: Tunnel Boring Machine Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 65: Germany: Tunnel Boring Machine Market: Sales Value (in Million US$), 2017 & 2022
Figure 66: Germany: Tunnel Boring Machine Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 67: France: Tunnel Boring Machine Market: Sales Value (in Million US$), 2017 & 2022
Figure 68: France: Tunnel Boring Machine Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 69: United Kingdom: Tunnel Boring Machine Market: Sales Value (in Million US$), 2017 & 2022
Figure 70: United Kingdom: Tunnel Boring Machine Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 71: Italy: Tunnel Boring Machine Market: Sales Value (in Million US$), 2017 & 2022
Figure 72: Italy: Tunnel Boring Machine Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 73: Spain: Tunnel Boring Machine Market: Sales Value (in Million US$), 2017 & 2022
Figure 74: Spain: Tunnel Boring Machine Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 75: Russia: Tunnel Boring Machine Market: Sales Value (in Million US$), 2017 & 2022
Figure 76: Russia: Tunnel Boring Machine Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 77: Others: Tunnel Boring Machine Market: Sales Value (in Million US$), 2017 & 2022
Figure 78: Others: Tunnel Boring Machine Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 79: Latin America: Tunnel Boring Machine Market: Sales Value (in Million US$), 2017 & 2022
Figure 80: Latin America: Tunnel Boring Machine Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 81: Brazil: Tunnel Boring Machine Market: Sales Value (in Million US$), 2017 & 2022
Figure 82: Brazil: Tunnel Boring Machine Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 83: Mexico: Tunnel Boring Machine Market: Sales Value (in Million US$), 2017 & 2022
Figure 84: Mexico: Tunnel Boring Machine Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 85: Others: Tunnel Boring Machine Market: Sales Value (in Million US$), 2017 & 2022
Figure 86: Others: Tunnel Boring Machine Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 87: Middle East and Africa: Tunnel Boring Machine Market: Sales Value (in Million US$), 2017 & 2022
Figure 88: Middle East and Africa: Tunnel Boring Machine Market: Breakup by Country (in %), 2022
Figure 89: Middle East and Africa: Tunnel Boring Machine Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 90: Global: Tunnel Boring Machine Industry: SWOT Analysis
Figure 91: Global: Tunnel Boring Machine Industry: Value Chain Analysis
Figure 92: Global: Tunnel Boring Machine Industry: Porter's Five Forces Analysis

List of Tables

Table 1: Global: Tunnel Boring Machine Market: Key Industry Highlights, 2022 and 2028
Table 2: Global: Tunnel Boring Machine Market Forecast: Breakup by Machine Type (in Million US$), 2023-2028
Table 3: Global: Tunnel Boring Machine Market Forecast: Breakup by Product Type (in Million US$), 2023-2028
Table 4: Global: Tunnel Boring Machine Market Forecast: Breakup by Application (in Million US$), 2023-2028
Table 5: Global: Tunnel Boring Machine Market Forecast: Breakup by End User (in Million US$), 2023-2028
Table 6: Global: Tunnel Boring Machine Market Forecast: Breakup by Region (in Million US$), 2023-2028
Table 7: Global: Tunnel Boring Machine Market: Competitive Structure
Table 8: Global: Tunnel Boring Machine Market: Key Players

Companies Mentioned

Akkerman Inc.
China Railway Construction Heavy Industry Corporation Limited
China Railway Engineering Equipment Group Co. Ltd. (China Railway Hi-Tech Industry Corporation Limited)
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. and Sika AG

Methodology

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Table Information

Report Attribute	Details
No. of Pages	144
Published	May 2023
Forecast Period	2022 - 2028
Estimated Market Value ( USD ) in 2022	$ 5.5 Billion
Forecasted Market Value ( USD ) by 2028	$ 7.1 Billion
Compound Annual Growth Rate	4.3%
Regions Covered	Global
No. of Companies Mentioned	9

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