Tunnel Construction Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2023-2030 - By Product, Technology, Grade, Application, End-user and Region (North America, Europe, Asia Pacific, Latin America and Middle East and Africa)

The global tunnel construction market is set to witness growth over the forecast timeline, driven by ongoing infrastructure projects worldwide and advancements in tunnel boring technology. A recent report analyzing diverse aspects of the market offers valuable insights that will aid in examining market growth potential.

Market Summary

The tunnel construction market is expected to grow due to the increasing use of tunneling machines for roads and railway tunnels in response to robust urbanization and industrialization. Governments, particularly in emerging economies, are investing in infrastructure development to enhance connectivity and boost their countries' travel and tourism sectors. Innovations in tunnel boring machine (TBM) technology, such as monitoring systems and digital tools like building information modelling (BIM), are improving project efficiency and management. However, high capital costs, lack of skilled labor, and regulatory hurdles may hinder market growth.

COVID-19 Impact

The COVID-19 pandemic initially negatively impacted the tunnel construction market as restrictions and supply chain disruptions affected operations. However, as restrictions eased, the market has shown signs of regressing to its pre-pandemic state.

Asia Pacific Demonstrates Remarkable Growth Potential

The Asia Pacific region is expected to witness substantial growth in the tunnel construction market. Investments by both governmental and private entities, demand for better infrastructure, improved connectivity, and the need to reduce surface congestion due to high population sizes contribute to the region's growth prospects.

Competitive Landscape

Key players in the tunnel construction market include Bouygues Construction, Vinci Construction Grands Projets, Strabag SE, Salini Impregilo, China Railway Construction Corporation, Porr AG, Ferrovial, Skanska AB, Herrenknecht AG, and Bechtel Corporation. These players are focusing on new product launches, partnerships, collaborations, acquisitions, and alliances to gain a competitive edge.

Notable Developments

• Diggy Scardust commenced a tunneling journey on Scarborough’s 7.8-km subway extension, catering to over 105,000 daily boardings and extending subway service farther north.
• Normet acquired Rambooms Oy, a manufacturer and supplier of rock breaker boom systems, and Marakon Oy, a supplier of hydraulic hammers and excavator attachments for the construction and mining industries.
• The State of California awarded US$375 million to the Santa Clara Valley Transportation Authority (VTA) for its BART extension into Downtown San Jose and Santa Clara, bringing the state’s total commitment through the Transit and Intercity Rail Capital Program (TIRCP) to US$1.125 Bn.
• TERRATEC celebrated the assembly of the 3rd of 5 ordered 6.61m diameter Earth Pressure Balance Tunnel Boring Machines (EPBMs) for the Chennai Metro Rail project in India.