Tunnel Boring Machine Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2020-2026

Category: Heavy Industry Report Format : PDF Report Code: ZMR-5637 Status : Upcoming

Description

Global Tunnel Boring Machine Market: Overview

Tunnel boring machines (TBM) is also known as a mole, it is primarily used for tunnel digging through numerous rocks and soil layers with a circular cross-section. Tunnel boring machines offer a better alternative to blasting and drilling methods for rock as well as conventional soil mining. Tunnel boring machine is getting more attention due to its advantages over other mining techniques, the ground disturbance level produced by TBM is comparatively low, also it produces precise and smooth tunnel wall in less time. With the rise in the global construction and mining sector, the demand for efficient mining techniques is increasing at a significant rate.

Global Tunnel Boring Machine Market: Growth Factors

The global tunnel boring machine market is growing at a healthy rate. Factors contributing to the growth of the market include a rise in the global construction sector, an increase in highway constructions, the mining sector, and micro tunnel works. Tunnel boring with the drilling and blasting technique can disturb the surrounding ground surface by damaging the soil base during the blast. Furthermore, the debris generated during the blasting adds more cost and time to the project to remove it, this is where the importance of TBM increases. TBM is efficient to perform mining work with precision and produce smooth tunnels, this factor significantly reduces the cost and shortens the time required to complete the project. On the other hand, TBMs are difficult to build. Additionally, the high cost associated with the instruments and maintenance may hamper the growth of the global tunnel boring machine market over the forecast period. However, growing urbanization and rise in government mining project in developing nations is expected to provide ample growth opportunities to the market growth during the forecast period.

COVID-19 pandemic situation has severely hampered the growth of the global tunnel boring machine market. Strict lockdowns imposed by several governments to control the spread of the infection has halted many projects around the world. Additionally, restrictions on personnel movement reduced the number of workers at product units. This has majorly impacted the manufacturing of new tunnel boring machines. Moreover, disruption of the supply chain is also observed to play a major role in restricting market growth, as it caused a shortage of raw materials in the market which is required for the manufacturing of TBMs. However, to stop the economic fall down, many governments have permitted to resume the manufacturing process, thus the demand for TBMs is expected to rise over the forecast period.

Global Tunnel Boring Machine Market: Segmentation

The global tunnel boring machine market is bifurcated based on geology type, machine type, end-users, and region. Based on the geology type, the global tunnel boring machine market is split into soft ground, heterogeneous ground, hard rock ground, and variable ground. Based on machine type, the global tunnel boring machine market is categorized into slurry TBM, shielded TBM, multi-mode TBM, earth pressure balance shield TBM, and others. The end-user segment is bifurcated into road transport, metro & transit, railway transport, utilities, oil & gas, and others. With the rapid urbanization and growing demand for the expansion of national highways, the road transport segment is expected to register the highest growth during the forecast period.

Global Tunnel Boring Machine Market: Regional Analysis

Asia Pacific is expected to dominate the global tunnel boring machine market over the forecast period. Factors such as growing investments in infrastructure and rapid expansion of rail, road network, & varied geographic conditions in this region are contributing to the growth of the tunnel boring machine market in this region. Countries such as China, India, and Japan are expected to generate the largest revenue in the Asia Pacific region. Europe is expected to remain the second-highest market over the forecast period. The high demand for TBMs in the hilly terrain in France, Spain, and Italy is expected to contribute to the growth of the market in Europe.

Global Tunnel Boring Machine Market: Competitive Players

Some of the strategic players operating in the global tunnel boring machine market are Herrenknecht AG, IHI Corporation, Mitsubishi Heavy Industries, Ltd., Komatsu Ltd., The Robbins Company, Hitachi Zosen Corporation, Kawasaki Heavy Industries, Ltd., and Terratec Ltd., among others.

Global Tunnel Boring Machine Market: Regional Segment Analysis

  • North America
    • The U.S.
    • Canada
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

What Reports Provides

  • Full in-depth analysis of the parent market
  • Important changes in market dynamics
  • Segmentation details of the market
  • Former, on-going, and projected market analysis in terms of volume and value
  • Assessment of niche industry developments
  • Market share analysis
  • Key strategies of major players
  • Emerging segments and regional markets
  • Testimonials to companies in order to fortify their foothold in the market.

Table Of Content


Frequently Asked Questions

The global tunnel boring machine market is growing at a healthy rate. Factors contributing to the growth of the market include a rise in the global construction sector, an increase in highway constructions, the mining sector, and micro tunnel works. Furthermore, growing urbanization and rise in government mining project in developing nations is expected to provide ample growth opportunities to the market growth during the forecast period.

Some of the strategic players operating in the global tunnel boring machine market are Herrenknecht AG, IHI Corporation, Mitsubishi Heavy Industries, Ltd., Komatsu Ltd., The Robbins Company, Hitachi Zosen Corporation, Kawasaki Heavy Industries, Ltd., and Terratec Ltd., among others.

Asia Pacific is expected to dominate the global tunnel boring machine market over the forecast period. Factors such as growing investments in infrastructure and rapid expansion of rail, road network, and varied geographic conditions in this region are contributing to the growth of the global tunnel boring machine market in this region. Countries such as China, India, and Japan are expected to generate the largest revenue in the Asia Pacific region. 

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