Press release
Tunnel Boring Machine Market Growth Opportunities and Business Strategies Grows at a CAGR of 6.0% by 2027
Tunnel Boring Machine Market
An increase in government investment for infrastructural development is projected to fuel the growth of the market. However, high installment costs and lack of flexibility are expected to hinder the growth of the market. Technological advancements in rock cutting technology are anticipated to provide lucrative opportunities in the coming period. The increase in adoption of tunnel boring machines in the mining industry is projected to boost the growth of the tunnel boring machine market.
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An increase in spending on railway infrastructure and road infrastructure development in developing countries such as India, China, and others, are expected to drive the growth of the global tunnel boring machine market. For instance, in May 2020, Shanghai invested around $38 billion on a new infrastructure project for next 3 years from 2020 to 2022. Moreover, a rise in adoption of tunnel boring machines in the mining industry, is expected to provide lucrative opportunities for the growth of the global tunnel boring machine market.
Segmentation Based On:
By Machine Type
• Slurry TBM
• Earth Pressure Balance Shield TBM
• Shielded TBM
• Multi-Mode TBM
• Others
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
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Regional Analysis:
Region wise, the global tunnel boring machine market analysis is conducted across North America (the U.S., Canada, and Mexico), Europe (the UK, Netherland, Russia, France, Germany, Italy, and Rest of Europe), Asia-Pacific (China, Japan, Indonesia, Australia, India, and Rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa). In 2019, Asia-Pacific was the highest contributor to the tunnel boring machine market share, and is anticipated to secure a leading position during the forecast period.
Top Players:
Key companies profiled in the report include 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.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, DE. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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