Tunnel Boring Machine Market Share 2022 - Industry Size, Growth, Opportunities, Trends and Forecast Analysis

The latest research study "Tunnel Boring Machine Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027" by IMARC Group, finds that the global tunnel boring machine market reached a value of US$ 5.28 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 6.79 Billion by 2027, exhibiting a CAGR of 4.05% during 2022-2027.

Covid-19 Impact:

We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

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Industry Definition and Application:

A tunnel boring machine (TBM) represents an advanced equipment utilized to excavate tunnels with a circular cross-section through various rock strata and soil. It can be categorized into earth pressure balance shield TBM, shielded TBM, multi-mode TBM, etc. Tunnel boring machine variants are used as an alternative to the conventional hand mining of soil and the drilling and blasting (D&B) methods. They produce a smooth tunnel wall while minimizing the disturbance caused to the surrounding ground. Tunnel boring machine models also ensure lesser rock damages, continuous operation, fewer support requirements, higher efficiency, worker safety, etc. Consequently, they find widespread application across numerous sectors, such as mining, oil and gas, road transport, railway, etc.

Global Tunnel Boring Machine Market Trends and Drivers:

The growing innovations in rock cutting technologies and the increasing underground construction activities across countries are primarily driving the tunnel boring machine market. Besides this, the rising product adoption in water pipeline, oil and gas pipeline, and hydropower projects is also positively influencing the market growth. Furthermore, the implementation of several stringent tunnel safety regulations by the government bodies and the expanding usage of mechanical tunnel boring systems are acting as significant growth-inducing factors. Additionally, the development of smart cities, the inflating urbanization levels, and the emerging trend of tunnel automation are expected to catalyze the tunnel boring machine market over the forecasted period.

Global Tunnel Boring Machine Market 2022-2027 Analysis and Segmentation:

Competitive Landscape:

The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.

Akkerman Inc., China Railway Construction Heavy Industry Corporation Limited, China Railway Engineering Equipment Group Co. Ltd. (China Railway Hi-Tech Industry Corporation Limited), 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. and Sika AG.

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The report has segmented the market on the basis of region, machine type, product type, application and end user.

Breakup by Machine Type:
• Slurry TBM
• Earth Pressure Balance Shield TBM
• Shielded TBM
• Multi-Mode TBM
• Others

Breakup by Product Type:
• Soft Ground TBM
• Hard Ground TBM

Breakup by Application:
• Utility Tunneling
• Traffic Tunneling

Breakup by End User:
• Road Transport
• Railway Transport
• Metro and Transit
• Utilities
• Mining
• Oil and Gas
• Others

Breakup by Region:
• North America: (United States, Canada)
• Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
• Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
• Latin America: (Brazil, Mexico, Others)
• Middle East and Africa

If you want latest primary and secondary data (2022-2027) with Cost Module, Business Strategy, Distribution Channel, etc. Click request free sample report, published report will be delivered to you in PDF format via email within 24 to 48 hours of receiving full payment.

Key highlights of the report:
• Market Performance (2016-2021)
• Market Outlook (2022- 2027)
• Porter's Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape

If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

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