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Market Insights - Industry Research Report
  • Published Date : February 2023
  • Report ID : 5465
  • Pages : 200
  • Industries : Automotive and Transportation
  • Formats :

Tunnel Boring Machine Market

Tunnel Boring Machine Market Size, Share and Growth Report by Machine Type (Slurry Type, Earth Pressure Balance Shield TBM, Shielded TBM, Multi-Mode TBM, and Others), By Geology Type (Soft Ground, Hard Rock Ground, Heterogeneous Ground, and Variable Ground), By End-User (Road Transport, Railway Transport, Metro and Transit, Utilities, Mining, Oil and Gas, and Others), and By Region – Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, and Forecasts 2023-2030
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Tunnel Boring Machine Market Overview

The global tunnel boring machine market size was worth USD 6.25 billion in 2022 and is estimated to grow to USD 9.89 billion by 2030, with a CAGR of approximately 5.9 percent over the forecast years from 2023 to 2030.

Coal mines and tunnels are usually excavated using tunnel boring machines. The development of the global tunnel boring machine business is anticipated to be boosted by an expansion in highway and railroad infrastructure construction. As more machines are utilized for hydropower projects, oil and gas pipelines, and water supply and disposal, the market for tunnel boring machines is anticipated to grow. TBM was more widely accepted since it took less time to operate for construction tasks than traditional technologies. The global tunnel boring machine market would likely advance due to rising spending on railway and road infrastructure projects. The tunnel boring machine market is expected to expand during the forecast period due to an increase in the global construction industry, highway construction, the mining industry, and micro tunnel work. The drilling and blasting method used for tunnel boring might affect the surrounding ground surface by destroying the soil base during the explosion. When the project’s removal of blast-related debris requires greater time and money, TBMs become more crucial. Building a tunnel-boring machine is challenging. The high cost of the necessary equipment and upkeep will hamper the market expansion for tunnel boring machines. During the forecast period, the market is anticipated to have strong growth due to rising government mining projects and growing urbanization.

Tunnel Boring Machine Market Drivers:

Over the past ten years, the field of digital health has grown as more and more healthcare authorities look to technological innovations for answers to challenging market issues. Including all other expanding industries, the market for tunnel boring machines is being pushed by technical advancements like machine learning, cloud-based services, artificial intelligence, and big data. COVID-19 has changed the global healthcare landscape, and as a result, there has been a significant shift in the desire for technology-driven healthcare, which has fuelled the growth of the global tunnel-boring machine market.

Tunnel Boring Machine Market: Restraints

Several factors, including a lack of workers, site accessibility, a shortage of construction materials, and inappropriate prevention measures at construction sites due to pandemic-related mobility restrictions, panic, and operational halts, have slowed the global tunnel boring machine (TBM) Market’s growth. Contrarily, the epidemic is being sustained by market actors’ risk response strategies for budget, design, supply chain, and project management.

Tunnel boring machine Market: Segmentation

The global tunnel boring machine market has been segmented into machine type, geology type, and end user.

Based on machine type, the slurry type, earth pressure balance shield TBM, shielded TBM, multi-mode TBM, and others are segments of the global tunnel boring machine market. The demand for tunnel boring machines is expected to rise due to an increase in tunnel construction activity, the slurry-type segment for these facilities accounted for a sizeable market share in 2022. However, Due to a high level of work safety and steady operation under various geological circumstances, EPBMs are increasingly being used in the building of rail tunnels, highways, metro & transit projects, and other such road tunnels; the earth pressure balance shield TBM category is expected to increase significantly over the projected period.

Based on application, the worldwide tunnel boring machine market is segmented into soft ground, hard rock ground, heterogeneous ground, and variable ground. The heterogeneous ground is anticipated to have the highest share in this market in 2022. When glacier increases and reshapes the landscape, diverse ground surfaces are produced. These tunnels, which combine rock portions with uneven lost terrain, are becoming more common in the tunnel regions of Switzerland. The segment with the fastest growth rate was soft ground. Slurry-type tunnel boring machines and earth pressure balance shield boring machines are primarily utilized in soft ground geology types. Innovations in soft ground TBMs center on enhancing the machines’ capacity to maintain face stability and prevent surface settlements even in the most critical soils and circumstances.

Tunnel Boring Machine Market: Regional Landscape

In 2021, Asia Pacific dominated the global tunnel boring machine market due to the increase in population, fast urbanization, and robust economic growth, nations like China, India, and others are promoting large-scale tunneling projects for highways and railways in the region. These elements contribute to the market for tunnel boring machines expanding. In addition, it is projected that the need for tunnel-boring machines will soon increase due to a large number of metro projects now under construction in India; Asia Pacific dominates the market for tunnel-boring machines.

Tunnel Boring Machine Market: Competitive Landscape

Some of the main competitors dominating the global tunnel boring machine market include- China Railway Engineering Equipment Group Co., Ltd, Dalian Huarui Heavy Industry Group Co., Ltd, China Railway Construction Heavy Industry Co., Ltd., Herrenknecht AG, Hitachi Zosen Corporation, IHI Corporation, Kawasaki Heavy Industries Ltd, Northern Heavy Industries Group Co., Ltd, Komatsu Ltd, Robbins, Bosch Rexroth AG, Qinhuangdao Tianye Tolian Heavy Industry Co., Ltd, Mitsubishi Heavy Industries, Ltd., and The Boring Company.

COVID-19 Impact on Tunnel Boring Machine Market

The COVID-19 outbreak impacted the market for tunnel boring machines. The constraints that limit the market include a lack of labor, accessibility issues, a scarcity of building supplies, and ineffective preventative measures at construction sites. Mobility constraints, fear, and operational halts—three of the most well-known difficulties faced by tunneling projects worldwide—were brought on by the pandemic, which inhibited the market growth for tunnel boring machines. However, market participants can contribute to the industry’s expansion throughout the pandemic thanks to the risk response methods they have specified for design, budget, supply chain, and project management.

Recent Developments

  • June 2022: The delivery of the 84,000 m3 LPG carrier CRYSTAL OASIS (Kawasaki hull No. 1752) to KUMIAI NAVIGATION (PTE) LTD. was announced by Kawasaki Heavy Industries, Ltd. The company recently constructed its 67th LPG transporter.
  • June 2022: The Dalian COSCO KHI Ship Engineering Co., Ltd. (DACKS), a facility run in cooperation with China COSCO Shipping Corporation Limited and based in Dalian City, China, announced the delivery of the bulk carrier PHIL HOKUSAI (Kawasaki hull No. 8083, DACK hull No. 117) (China COSCO Shipping).

Global Tunnel Boring Machine Market is segmented as follows:

Tunnel Boring Machine Market by Machine Type Outlook (Revenue, USD Billion, 2017 – 2030)

  1. Slurry TBM
  2. Earth Pressure Balance Shield TBM
  3. Shielded TBM
  4. Multi-Mode TBM
  5. Others

Tunnel Boring Machine Market by Geology Type Outlook (Revenue, USD Billion, 2017 – 2030)

  1. Soft Ground
  2. Hard Rock Ground
  3. Heterogenous Ground
  4. Variable Ground

Tunnel Boring Machine Market by End-users Outlook (Revenue, USD Billion, 2017 – 2030)

  1. Road Transport
  2. Railway Transport
  3. Metro & Transit
  4. Utilities
  5. Mining
  6. Oil & Gas
  7. Others

Tunnel Boring Machine Market by Region Outlook (Revenue, USD Billion, 2017 – 2030)

  1. North America
    • The U.S.
    • Canada
    • Mexico
  2. Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  3. Asia Pacific
    • China
    • Japan
    • India
    • New Zealand
    • Australia
    • South Korea
    • Southeast Asia
    • Rest of Southeast Asia
  4. The Middle East & Africa
    • Saudi Arabia
    • UAE
    • Egypt
    • Kuwait
    • South Africa
    • Rest of the Middle East & Africa
  5. Latin America
    • Brazil
    • Argentina
    • Rest of Latin America
Tunnel Boring Machine Market Report Scope
Report AttributeDetails
Market Size Value in 2022:USD 6.25 billion
Revenue Forecast in 2030:USD 9.89 billion
Growth Rate:CAGR of 5.9 % from 2023 to 2030
Base Year for Estimation:2022
Historical Data:2017 – 2022
Forecast Years:2023 – 2030
Quantitative Units:Revenue in USD million and CAGR from 2023 to 2030
Report Coverage:Revenue forecast, company ranking, Trends
competitive landscape, and growth factors
Segments Covered:Machine Type, Geology Type, End User, and Region
Regional Scope:North America; Europe; Asia Pacific; Latin America; Middle East & Africa
Country Scope:U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico and Others
Key Companies Profiled:China Railway Engineering Equipment Group Co., Ltd, Dalian Huarui Heavy Industry Group Co., Ltd, China Railway Construction Heavy Industry Co., Ltd., Herrenknecht AG, Hitachi Zosen Corporation, IHI Corporation, Kawasaki Heavy Industries Ltd and Others

Frequently Asked Questions

The main reasons anticipated to propel the Tunnel boring machine market during the forecast period are a rise in the global construction industry, an increase in highway projects, the mining industry, and the development of micro tunnels.
According to BMI, the global tunnel boring machine market size was worth USD 6.25 billion in 2022 and is estimated to grow to USD 9.89 million by 2030, with a CAGR of approximately 5.9 % over the forecast period from 2023 to 2030.
In 2022, Asia Pacific dominated the global tunnel boring machine market due to the increase in population, fast urbanization, and robust economic growth, nations like China, India, and others are promoting large-scale tunneling projects for highways and railways in the region.
Some of the main competitors dominating the global tunnel boring machine market include – China Railway Construction Heavy Industry Co., Ltd., China Railway Engineering Equipment Group Co., Ltd, Dalian Huarui Heavy Industry Group Co., Ltd, Herrenknecht AG, Hitachi Zosen Corporation, IHI Corporation, Kawasaki Heavy Industries Ltd, Northern Heavy Industries Group Co., Ltd, Komatsu Ltd, Robbins, Bosch Rexroth AG, Qinhuangdao Tianye Tolian Heavy Industry Co., Ltd, Mitsubishi Heavy Industries, Ltd., and The Boring Company.

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