Global Tunnel Boring Machine Market, By Machine Type (Slurry Type, Earth Pressure Balance Shield TBM, Shielded TBM, Multi-Mode TBM, Others), Geology Type (Soft Ground, Hard Rock Ground, Heterogeneous Ground, Variable Ground), End-User (Road Transport, Railway Transport, Metro and Transit, Utilities, Mining, Oil and Gas, Others) – Industry Trends and Forecast to 2029.
Tunnel Boring Machine Market Analysis and Size
In the past years, mining and other underground process was done by blasting and drilling. The tunnel boring machine changed all these methods because of its ability to produce a directional and smooth tunnel. Leaving surrounding rock relatively undisturbed was better than blasting, which could cause cave-ins. The smooth tunnel wall meant less ongoing costs because it doesn’t require a tunnel liner. A growth in infrastructure in the road highways and railway is expected to drive the growth of the tunnel boring machine market.
Data Bridge Market Research analyses that the tunnel boring machine market was valued at USD 6,211.02 million in 2021 and is expected to reach USD 10,279.21 million by 2029, registering a CAGR of 6.50% during the forecast period of 2022 to 2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, The market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis.
Tunnel Boring Machine Market Scope and Segmentation
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2014 - 2019)
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Quantitative Units
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Revenue in USD million, Volumes in Units, Pricing in USD
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Segments Covered
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Machine Type (Slurry Type, Earth Pressure Balance Shield TBM, Shielded TBM, Multi-Mode TBM, Others), Geology Type (Soft Ground, Hard Rock Ground, Heterogeneous Ground, Variable Ground), End-User (Road Transport, Railway Transport, Metro and Transit, Utilities, Mining, Oil and Gas, Others)
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America
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Market Players Covered
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China Railway Engineering Equipment Group Co., Ltd. (China), China Railway Construction Heavy Industry Corporation Limited (China), Tolian Corporation (China), Herrenknecht AG (Germany), IHI Corporation (Japan), Hitachi Zosen Corporation (Japan), Komatsu Ltd (Japan), INDIA KAWASAKI MOTORS PVT.LTD (India), TERRATEC Ltd (Hong Kong), Robbins (U.S.), Northern Heavy Industries Group Co, Ltd (China), JIM TECHNOLOGY CORPORATION (China), STECS (Singapore), Bosh Rexroth AG (Germany), DALIAN HAUARUI HEAVY INDUSTRY GROUP CO,LTD (China)
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Market Opportunities
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Market Definition
A tunnel boring machine (TBM) is a piece of instrument designed to bore circular tunnels through hard rock, dense, relatively soft sand or any other substrate of any hardness between the two. They come in several sizes which is capable of creating bores with several diameters as small as 40 inches and as large as 60 feet.
Tunnel Boring Machine Market Dynamics
Drivers
- Government rules and regulations in emerging economies
The demand of the tunnel boring machine is rising at a high pace in the global market due to growing rules and regulations enforced by governments of several emerging companies regarding the construction of road infrastructure and networked rail and their related projects. These are a few primary reasons which are expected to drive the growth of the tunnel boring machine market.
- Government investments in railway projects
Government investment in railway pipeline projects is expected to increase the growth of the tunnel boring machine market. For instance, the government of Italy had spent $33.79 billion on a railway infrastructure project in July 2019. Tunnel boring machine is used for hydropower project, water pipeline project and pipelines for oil and gas, and other projects, which are expected to upsurge the demand for tunnel boring machine in the market.
Opportunities
- Technological advancement
Technological advancements in the tunnel boring machine with rock cutting and automation technology are anticipated to provide the lucrative opportunities for the growth of the tunnel boring machine market. Also, the manufacturer of the tunnel boring machine market is increasing focus towards the manufacturing of micro tunnelling, where the large tunnels cannot be constructed which may also increase the revenue growth of the tunnel boring machine market.
Moreover, emerging new markets, collaboration and new launches will also act as driving factors and further increase the lucrative opportunities for the market’s growth rate.
Restraints/ Challenges
- High cost associated with raw material and instrument
Fluctuation in raw material prices and high cost of tools are anticipated to hinder the growth of the tunnel boring machine market globally. For instance, the U.S. administration augmented tariffs on variable aluminium and steel imports in February 2020. This range upsurge includes a 25% rise in steel imports and 10% surge in aluminium imports.
This tunnel boring machine market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the tunnel boring machine market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
COVID-19 Impact on Tunnel Boring Machine Market
The covid-19 virus has rapidly spread in several countries and continues which cause an enormous impact on the lives of people and the community. With the onset of COVID-19 pandemic, major market players are facing rising business concerns associated with the coronavirus outbreaks, possible less in consumer spending and, supply chain disruption. Also, in 2017, as per the international manufacturers of the tunnel boring machines have inculcated Chinese companies, and hence China has become the world’s largest tunnel boring machine manufacturer, which occupied around 64% of the total production.
Recent Development
- In July 2019, the Italian government decided to do an expenditure of USD 33.79 billion in the railway infrastructure project for increasing the infrastructure of railways and roadways.
Global Tunnel Boring Machine Market Scope
The tunnel boring machine market is segmented on the basis of machine type, geology type and end-user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Machine Type
- Slurry Type
- Earth Pressure Balance Shield TBM
- Shielded TBM
- Multi-Mode TBM
- Others
Geology Type
- Soft Ground
- Hard Rock Ground
- Heterogeneous Ground
- Variable Ground
End-User
- Road Transport
- Railway Transport
- Metro and Transit
- Utilities
- Mining
- Oil and Gas
- Others
Tunnel Boring Machine Market Regional Analysis/Insights
The tunnel boring machine market is analysed and market size insights and trends are provided by country, machine type, geology type and end-user as referenced above.
The countries covered in the tunnel boring machine market report are U.S., Canada, Mexico, Germany, France, U.K., Italy, Spain, Switzerland, Netherlands, Russia, Turkey, Belgium, Rest of Europe, Japan, China, South Korea, India, Australia & New Zealand, Singapore, Thailand, Malaysia, Indonesia, Philippines, Rest of Asia-Pacific, South Africa, Israel, U.A.E., Saudi Arabia, Egypt, Rest of Middle East and Africa, Brazil, Argentina and Rest of South America.
Asia-Pacific dominates the tunnel boring machine market due to largest market for tunnel boring machine industry during the forecast period in this region.
North America is expected to be the fastest developing regions due to the product advancements and extensive R&D activities to develop more advanced and cost-effective solutions in this region.
The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Tunnel Boring Machine Market Share Analysis
The tunnel boring machine market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to tunnel boring machine market.
Some of the major players operating in the tunnel boring machine market are:
- China Railway Engineering Equipment Group Co., Ltd. (China)
- China Railway Construction Heavy Industry Corporation Limited (China)
- Tolian Corporation (China)
- Herrenknecht AG (Germany)
- IHI Corporation (Japan)
- Hitachi Zosen Corporation (Japan)
- Komatsu Ltd (Japan)
- INDIA KAWASAKI MOTORS PVT.LTD (India)
- TERRATEC Ltd (Hong Kong)
- Robbins (U.S.)
- Northern Heavy Industries Group Co, Ltd (China)
- JIM TECHNOLOGY CORPORATION (China)
- STECS (Singapore)
- Bosh Rexroth AG (Germany)
- DALIAN HAUARUI HEAVY INDUSTRY GROUP CO,LTD (China)
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