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Tunnel Boring Machine Market expected to reach $8,385.6 million by 2025 at a CAGR of 6.4% | Top Key Players China Railway Construction Heavy Industry Co. Ltd.,China Railway Engineering Equipment Group Co. And So on
Tunnel Boring Machine
The global tunnel boring machines market size is expected to reach $8,385.6 million by 2025, from $5,189.8 million in 2017, growing at a CAGR of 6.4% from 2018 to 2025.
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Key Market Players : 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,Komatsu Ltd.,Northern Heavy Industries Group Co., Ltd. (The Robbins Company, Inc.),Qinhuangdao Tianye Tolian Heavy Industry Co., Ltd.
The key factor that drives the growth of the global tunnel boring machines market includes increase in infrastructure development for railway and highway. Moreover, rise in demand for utility tunneling for water supply & disposal, hydropower projects, and pipeline for oil & gas boosts the demand for tunnel boring machines.
In addition, tunnel boring machine reduces the operational time for construction of tunnel as compared to other conventional methods, thereby increasing the demand for tunnel boring machines. However, the new Austrian tunneling method (NATM) is still a dominant method for constructing tunnels, which is expected to hinder the market growth. Furthermore, new innovations such as automation and ZigBee-based wireless sensor networks are anticipated to provide lucrative growth opportunities for the growth of the global tunnel boring machines market.
The tunnel boring machine market is segmented based on machine type, geology type, end-users, and region.
Based on machine type, the market is categorized into slurry TBM, earth pressure balance shield TBM, shielded TBM, multi-mode TBM, and others. Others includes open type, gripper TBM, direct pipe, partial face excavation, etc.
By geology type, the market is segmented into soft ground, hard rock ground, heterogenous ground, and variable ground. By end-users, the market is segmented into road transport, railway transport, metro & transit, utilities, mining, oil & gas, and others. Region wise, the market is analyzed across North America, Europe, Asia-Pacific (APAC), and LAMEA. Asia-Pacific is anticipated to be the largest market for tunnel boring machine during the forecast period.
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Key Market Segments
By Machine Type
• Slurry TBM
• Earth Pressure Balance Shield TBM
• Shielded TBM
• Multi-Mode TBM
• Other Machines (Open Type, Gripper TBM, Direct Pipe, Partial Face Excavation, etc.)
By Geology Type
• Soft Ground
• Hard Rock Ground
• Heterogenous Ground
• Variable Ground
By End-users
• Road Transport
• Railway Transport
• Metro & Transit
• Utilities
• Mining
• Oil & Gas
• Others
By Region
• North America
• Europe
• Asia-Pacific
• LAMEA
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