Press release
Tunnel Boring Machine Market 2027: Advancements, Opportunities, and Future Outlook to hit $7.55 bn
According to a new report published by Allied Market Research, titled, the global tunnel boring machine industry was estimated at $5.47 billion in 2019 and is anticipated to hit $7.55 billion by 2027, registering a CAGR of 6.0% from 2020 to 2027.The global tunnel boring machine market is experiencing growth driven by an uptick in traffic infrastructure projects, a heightened emphasis on micro-tunneling, and increased adoption in the mining sector. However, challenges such as substantial investment costs, rigidity in operations, and volatility in raw material prices are dampening growth prospects to some degree. Nonetheless, the industry is poised for opportunities with technological advancements, particularly in automation and rock cutting technologies.
๐๐๐ช๐ฎ๐๐ฌ๐ญ ๐ ๐จ๐ซ ๐๐๐ฆ๐ฉ๐ฅ๐ ๐๐จ ๐๐๐ญ ๐๐ง๐ฌ๐ข๐๐ ๐๐๐จ๐จ๐ฉ ๐จ๐ ๐ญ๐ก๐ ๐๐๐ฉ๐จ๐ซ๐ญ -๐ก๐ญ๐ญ๐ฉ๐ฌ://๐ฐ๐ฐ๐ฐ.๐๐ฅ๐ฅ๐ข๐๐๐ฆ๐๐ซ๐ค๐๐ญ๐ซ๐๐ฌ๐๐๐ซ๐๐ก.๐๐จ๐ฆ/๐ซ๐๐ช๐ฎ๐๐ฌ๐ญ-๐ฌ๐๐ฆ๐ฉ๐ฅ๐/๐๐๐๐
Market Overview:
Commonly referred to as mole machines, tunnel boring machines (TBMs) are instrumental in excavating tunnels through hard rock and soil, with diameter sizes ranging from 40 inches to 60 feet. Comprising components like a cutter head, hydraulic braking system, and conveyor, these machines operate by rotating the cutter head 360ยฐ against the tunnel surface, effectively removing mud and rocks.
Government initiatives aimed at infrastructure development are anticipated to drive market growth, albeit hindered by high installation costs and operational rigidity. However, advancements in rock cutting technology present promising avenues for growth. Furthermore, the increasing adoption of TBMs in the mining sector is expected to further propel market expansion.
๐๐๐ค๐ ๐๐ฎ๐ซ๐๐ก๐๐ฌ๐ ๐๐ง๐ช๐ฎ๐ข๐ซ๐ฒ: ๐ก๐ญ๐ญ๐ฉ๐ฌ://๐ฐ๐ฐ๐ฐ.๐๐ฅ๐ฅ๐ข๐๐๐ฆ๐๐ซ๐ค๐๐ญ๐ซ๐๐ฌ๐๐๐ซ๐๐ก.๐๐จ๐ฆ/๐ฉ๐ฎ๐ซ๐๐ก๐๐ฌ๐-๐๐ง๐ช๐ฎ๐ข๐ซ๐ฒ/๐๐๐๐
Market Outlook:
Rising investments in railway and road infrastructure development, particularly in countries like India and China, are anticipated to be primary drivers of market growth. For example, Shanghai's $38 billion investment in a new infrastructure project over three years (2020-2022) underscores this trend. Additionally, the growing utilization of TBMs in mining operations offers lucrative opportunities for market expansion.
The pandemic-induced disruptions halted production activities among global TBM manufacturers due to lockdowns in various developed and developing nations. This hiatus directly impacted sales and disrupted supply chains due to shortages of manpower and raw materials. However, with the introduction of COVID-19 vaccines and the gradual reopening of production facilities, the TBM market is expected to rebound.
๐๐๐ช๐ฎ๐๐ฌ๐ญ ๐ ๐จ๐ซ ๐๐ฎ๐ฌ๐ญ๐จ๐ฆ๐ข๐ณ๐๐ญ๐ข๐จ๐ง: ๐ก๐ญ๐ญ๐ฉ๐ฌ://๐ฐ๐ฐ๐ฐ.๐๐ฅ๐ฅ๐ข๐๐๐ฆ๐๐ซ๐ค๐๐ญ๐ซ๐๐ฌ๐๐๐ซ๐๐ก.๐๐จ๐ฆ/๐ซ๐๐ช๐ฎ๐๐ฌ๐ญ-๐๐จ๐ซ-๐๐ฎ๐ฌ๐ญ๐จ๐ฆ๐ข๐ณ๐๐ญ๐ข๐จ๐ง/๐๐๐๐
๐๐จ๐ฉ ๐๐ฅ๐๐ฒ๐๐ซ๐ฌ:
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.
About us:
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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