Press release
Tunnel Boring Machine Market Growing at 5.7% CAGR to 2027
According to our new research study on "Tunnel Boring Machine Market to 2027 - Global Analysis and Forecast - by type, geology, and end-user," the global tunnel boring machine market was valued at US$ 6,236.13 million in 2019 and is projected to reach US$ 9,434.24 million by 2027; it is expected to grow at a CAGR of 5.7% during 2020-2027. Growth in road infrastructure is one of the significant factors propelling the market growth. Rising government investment in railway projects is anticipated to drive the global tunnel boring machine market. For instance, construction of the Fehmarnbelt tunnel between Denmark and Germany initiated on January 2021 in Denmark. The project will be completed by 2029. The project would allow the development of the longest combined road and rail immersed tube tunnel across the globe.Technological developments are of greater use in tunnel construction since they allow easy access to construction in any ground conditions. Innovative monitors and sensors placed in the tunnel boring machines help in the smooth functioning of machines while excavating. Large diameter tunnel projects for transport infrastructures have influenced the research and development in tunnel boring machine design. Advanced machines can cope with mixed rock/ground conditions and change their operational mode depending on ground conditions. Large machines with diameters ranging from 14 to 17 meters have been manufactured and utilized across the world. Innovative technologies are being developed in various countries to treat the ground ahead of the machine and control the groundwater inflows. Variable density tunnel boring machines is a next-gen multimodal machine used for soft soils. Without significant mechanical adaptations, variable density machines merge the basic technologies of enclosed soft ground tunnel boring machines, maintaining control of pressure on the face. These machines are used as a slurry pressure tunnel boring machine using an air bubble system in order to control face pressure and an earth balance pressure mode. Lately, these machines have been deployed for various major projects since they have the ability to work in different ground conditions. For instance, in May 2020, For the HS2 project, the UK's variable density tunnel boring machines were used to help overcome the ground condition challenges. These advanced machines have been used on Ulm railway project, Germany; the Hallandsas rail tunnel, Sweden; and the Kland Valley MRT project, Malaysia.
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Forging Market - Company Profiles
China Railway Construction Heavy Industry Co., Ltd.
CREG TBM Germany GmbH
DALIAN HUARUI HEAVY INDUSTRY GROUP CO., LTD.
Herrenknecht AG
Hitachi Zosen corporation
IHI Corporation
Kawasaki Heavy Industries, Ltd.
Komatsu Ltd.
The Robbins Company
TERRATEC Ltd.
Growing Road Infrastructure Projects Drives Tunnel Boring Machine Market Growth
The global road infrastructure and construction industry is growing at an impressive pace due to rising population and urbanization levels, especially in the developed and developing regions of the world. Rising government expenditure on infrastructure and swiftly growing road network expansions across all the countries are driving the global market. Spending on new transport infrastructure in various potential countries and upgrade of existing infrastructure are fueling the demand for tunnel boring machines. Infrastructure upgrading activities, development of smart cities, and rise in trend of tunnel automation are some of the major factors fueling the global market. Several governments of major countries are involved in designing tunnels for smooth road transport and reduced travel times. Some of the developments are given below:
In January 2021, the government of India launched a tunnel boring machine, which would excavate ~4 km long tunnel as a part of the coastal road project. The length of each tunnel is 2.07 km, and it would take nine months to dig out a tunnel. The project includes an under construction 22.2 km long freeway, which would operate along the western coastline connecting Marine Lines in the south to Kandivali in the north in Mumbai City. The tunnels would be bored between Priyadarshani Park and Chhota Chowpatty at Marine Drive, and it is anticipated to be ready by June 2022.
The latest research report on the "Forging Market - Industry Analysis, Market Size, Opportunities and Forecast, 2021 - 2027" provides a comprehensive assessment of the Forging market for the forecast period from 2021 to 2027. The investigative report provides a detailed analysis of the impact of COVID-19 on various segments in the Forging market based on product type, application, and end-use across numerous countries around the world. Further, the report also provides insights into market developments, trends, supply and demand changes across various regions across the globe. Thereby, the report provides a holistic view on the Forging Market in order to help decision makers with various strategic insights and future outlook. The Forging market is expected to witness continued growth during the forecast period from 2021 to 2027.
This is a professional and in-depth study on the current state of the Forging Market with a basic overview of the industry including definitions, classifications, applications and industry chain structure. The Strategic Insights and Development plans are also discussed and manufacturing processes and cost structures analyzed. Forging Market import/export consumption, supply and demand figures and cost price and production value gross margins are also provided.
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Based on geology, the market is segmented into soft ground, hard rock ground, variable ground, and heterogeneous ground. The soft ground segment led the tunnel boring machine market in 2019. The soft ground includes sand, clay, silt, and gravel. In this geology, tunnel needs specific methods compared to hard rock to compensate for the shifting nature of the soil. The soft ground protects existing structures and utilities since several soft ground-based tunnels are located in urban environments where settlement caused by tunneling is the chief concern. Protective measures such as ground improvement, dewatering, and compensation grouting are used to ensure successful tunneling in soft ground. Slurry shield (SS) and earth pressure balance machines are suitable for this geology. Earth pressure balance machine is used with less than 7 bar of pressure in soft ground. Besides, slurry shield tunnel boring machine is used for high water pressure and huge amounts of groundwater. Herrenknecht AG, a German-based company, built the tunnel boring machine with largest diameter of 15.43 meters in Shanghai, China. It was designed to bore through soft ground such as clay and sand. Thus, the growing deployment of the machine in the soft ground area will propel the market growth in the near future.
Note - The Covid-19 (coronavirus) pandemic is impacting society and the overall economy across the world. The impact of this pandemic is growing day by day as well as affecting the supply chain. The COVID-19 crisis is creating uncertainty in the stock market, massive slowing of supply chain, falling business confidence, and increasing panic among the customer segments. The overall effect of the pandemic is impacting the production process of several industries. This report on 'Forging Market' provides the analysis on impact on Covid-19 on various business segments and country markets. The reports also showcase market trends and forecast to 2027, factoring the impact of Covid -19 Situation.
The report segments the global Forging Market based on application, type, service, technology, and region. Each chapter under this segmentation allows readers to grasp the nitty-gritty of the market. A magnified look at the segment-based analysis is aimed at giving the readers a closer look at the opportunities and threats in the market. It also addresses political scenarios that are expected to impact the market in both small and big ways. The report on the global Forging Market examines changing regulatory scenarios to make accurate projections about potential investments. It also evaluates the risk for new entrants and the intensity of the competitive rivalry.
The report focuses on global major leading Forging Market players providing information such as company profiles, product picture and specification, capacity, production, price, cost, revenue and contact information. Upstream raw materials and equipment and downstream demand analysis is also carried out.
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Reasons to Buy
• Highlights key business priorities to assist companies realign their business strategies.
• Features key findings and crucial progressive industry trends in the global Forging market, thereby allowing players to develop effective long-term strategies.
• Develops/modifies business expansion plans by using substantial growth offering from developed and emerging markets.
• Scrutinizes in-depth market trends as well as key market drivers and restraints.
• Enhances the decision-making process by understanding the strategies that underpin commercial interest with respect to products, segmentation, and industry verticals.
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Contact Person: Sameer Joshi
E-mail: sales@theinsightpartners.com
Phone: +1-646-491-9876
About Us:
The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.
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