Tunnel Boring Machine Market – Global Industry Analysis, Size, Share, Trends and Forecast 2018 – 2024

The Tunnel Boring Machine Market’s segment market shares in each geographic region are mentioned in the report, along with the historic and forecast growth rates. Each segment represented visually with supporting reasons to justify the growth rates. IGR’s report also covers drivers and restraints in the tunnel boring machine market.

Infinium Global Research’s report covers the annual growth of the Global tunnel boring machine market. It also includes chapters on the Global tunnel boring machine industry trends, geographic analysis, and competitive landscape.

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The report also includes a SWOT analysis to present the indicators of strength, weakness, prospects, and risk of the market until the completion of the projection period in 2024.

Tunnel Boring Machine Market: Industry Insight

A tunnel boring machine is an equipment designed to bore circular tunnels through dense, hard rock, relatively soft sand or any substrate of any hardness between the two. A tunnel boring machine consists of a large metal cylinder called shield and trailing support mechanisms. They come in various sizes that are capable of creating bores with diameters as small as 40 inches and as large as 60 feet.

Tunnel Boring Machine Market: Drivers and Restraints

The growing number of major infrastructure projects underway across the globe primarily drives the tunnel boring machine market. In addition, several governments are highly investing in the construction of tunnels for urban infrastructure development projects in emerging nations. Furthermore, the rise of automation in the tunneling industry promotes the growth of the tunnel boring machine market. This equipment can bore through anything from hard rock to sand and helps to reduce the exposure of workers to hazardous situations. However, the upfront capital cost of the tunnel boring machine and high requirement of significant backup systems and power restrains the market growth. Moreover, increasing capital investment and spending for development of infrastructure in developing regions creates growth opportunities for the tunnel boring machine market.

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Tunnel Boring Machine Market: Segmentation

The report on the global tunnel boring machine market is segmented into product type and application. The product type segment is further bifurcated into soft ground TBM and hard ground TBM. The application segment is further bifurcated into railway & highway, municipal engineering, and others. Among the applications, railway and highway segment are anticipated to hold a significant share in the tunnel boring machine market. The growing use of tunnel boring machines due to the rise in the construction of railways and roadways in emerging economies as well as the ongoing maintenance activities in the developed economies contributes to the growth of this segment over the forecast period.

Tunnel Boring Machine Market: Regional Insights

The Asia Pacific dominates the tunnel boring machine market and is anticipated to remain dominant over the forecast period. Metro projects and hydropower schemes in Asia Pacific countries such as China, India, continue to drive the tunneling boring machine market. In addition, the rising government investments to develop urban infrastructure contributes to the growth of Asia Pacific tunnel boring machine market. North America holds the second largest share in the tunnel boring machine market. The U.S is a key country that is driving the North America tunnel boring machine market. The new infrastructure projects and renewal programs in Seattle, San Francisco, New York City and Las Vegas contributes to the growth of the North America tunnel boring machine market.

Tunnel Boring Machine Market: Competitive Analysis

The tunnel boring machine market is consolidated. It is largely dominated by established players such as Herrenknecht Ag, The Robbins Company, Mitsubishi Heavy Industries, Ltd., Kawasaki Heavy Industries, Ltd., Hitachi Zosen Corporation, Terratec Ltd., Komatsu, Tianye Tolian, and SELI among others. The companies are focusing on manufacturing of technologically advanced machines that are easy to assemble. In September 2018, Chinese firm CCCC Tianhe Mechanical Equipment Manufacturing Co rolled out China's largest export-bound slurry tunnel boring machine (TBM). With a diameter of 13.19 meters and state-of-the-art technology, the TBM is the largest and most advanced any Chinese company has ever built for an overseas project and will be used in a multibillion-dollar high-speed rail project in Indonesia, according to CCCC Tianhe, a subsidiary of State-owned construction firm China Communications Construction Co (CCCC).

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