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.
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?
Table of Contents
1 Preface3 Executive Summary12 Value Chain Analysis14 Price Analysis
2 Scope and Methodology
4 Introduction
5 Global Tunnel Boring Machine Market
6 Market Breakup by Machine Type
7 Market Breakup by Product Type
8 Market Breakup by Application
9 Market Breakup by End User
10 Market Breakup by Region
11 SWOT Analysis
13 Porters Five Forces Analysis
15 Competitive Landscape
List of Figures
List of Tables
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 | $ 5.5 Billion |
Forecasted Market Value ( USD | $ 7.1 Billion |
Compound Annual Growth Rate | 4.3% |
Regions Covered | Global |
No. of Companies Mentioned | 9 |