Tunnel Boring Machine Market is Expected to Increase in Tunneling Projects for Road Infrastructure

Allied Market Research recently published a report, titled, "Tunnel Boring Machine Market by Machine Type (Slurry TBM, Earth Pressure Balance Shield TBM, Shielded TBM, Multi-Mode TBM, and Others), Geology Type (Soft Ground, Hard Rock Ground, Heterogenous Ground, and Variable Ground), and End-Users (Road Transport, Railway Transport, Metro & Transit, Utilities, Mining, Oil & Gas, and Others): Global Opportunity Analysis and Industry Forecast, 2018 - 2025."

The report provides an extensive analysis of market dynamics, top investment pockets, market definition & scope, key market trends and market size. According to the report, the global tunnel boring machine market was pegged at $5.1 billion in 2017 and is projected to garner $8.3 billion by 2025, registering a CAGR of 6.4% during the period 2018-2025.

The tunnel boring machine market is primarily driven by rise in government and private investment for infrastructural development and reduced operation time. However, high installment cost and lack of flexibility are expected to restrain the growth of the tunnel boring machine market. On the other hand, technological advancements through automation and rock cutting technology is anticipated to create more opportunities in the coming period especially in geographies which variable and heterogenous ground.

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Asia- Pacific to reap the largest share-

Based on region, the market is analyzed across various regions including North America, Asia-Pacific, Europe, and Latin America, Middle East and Africa (LAMEA). Asia-Pacific held the largest share in 2017, contributing about nearly two-fifths of the market, and is also expected to dominate the market throughout the forecast period. A number of big investments for tunneling projects facilitated by large number of domestic suppliers have propelled the growth.

Additionally, large-bore TBMs are finding key prominence in the North America countries especially in the U.S. Moreover, real time GPS monitoring systems are keeping the TBM drives on target which allows increased evaluation of risk analysis. Moreover, as free surface land is unavailable in terms of accessibility and cost effectiveness, there is an increasing number of utilities tunneling projects witnessed in developed countries. Rising importance of tunnel liners and waterproofing industry is influencing the sales of large ancillary equipments used in shielded TBMs, and piping TBMs.

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Key Findings of the Tunnel Boring Machine Market:
o In 2017, the slurry TBM segment dominated the global tunnel boring machine market size, in terms of revenue, and is projected to grow at a CAGR of 6.3% during the forecast period.
o The soft ground segment is projected to grow at a CAGR of 6.8% during the forecast period.
o Asia-Pacific is projected to register the highest growth rate in the years to come.

Major market players-

The report analyzes the key market players including CRCHI, Ishikawajima-Harima, CRTE, Herrenknecht, Hitachi Zosen, Qinhuangdao Tianye Tolian Heavy Industry Co., Ltd, Kawasaki, and Komatsu. Robbins. Adopting product development and collaboration as its key developmental strategies, these companies have become able to sustain the intense competition.

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