New York, US, June 27, 2022 (GLOBE NEWSWIRE) -- According to a comprehensive research report by Market Research Future (MRFR), “Tunnel Boring Machine Market Analysis by Machine Type (Slurry TBM, Earth Pressure Balance Shield TBM, Shielded TBM, Multi-Mode TBM and Other Machines), Geology Type (Soft Ground, Hard Rock Ground, Heterogeneous Ground and Variable Ground), End Users and Region - Forecast till 2030” valuation is poised to grow at 5.6% CAGR throughout the forecast period (2022–2030).
Tunnel Boring Machine Market Overview
Tunnel boring machines are primarily used to create tunnels for pipelines, roadways, and trains. They're sometimes referred to as enormous specific-function machines. They are commonly used to aid in the boring of round holes with round cross-sections in rocks and dirt. These machines are built with a complex system that works in tandem with one another. The machine is made up of one or two shields and trailing support tools. A spinning cutting wheel is located at the front end of the shield, and a chamber is located behind the cutting wheel. Tunnel boring machines are used in a variety of key industries.
Tunnel Boring Machine Market Report Scope:
| Report Metric | Details |
| Market Size | Significant Value |
| CAGR | 5.6% |
| Base Year | 2021 |
| Forecast Period | 2022-2030 |
| Historical Data | 2020 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Machine Type, Geology Type and Region |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Vendors | China Railway Construction Heavy Industry Co. Ltd., Hitachi Zosen Corporation, China Railway Engineering Equipment Group Co. Ltd., Dalian Huarui Heavy Industry Group Co. Ltd, Komatsu Ltd., China Railway Group Limited (CRGL), IHI Corporation, Northern Heavy Industries Group Co. Ltd. (The Robbins Company, Inc.), Qinhuangdao Tianye Tolian Heavy Industry Co. Ltd., Kawasaki Heavy Industries Ltd., Bosch Rexroth AG, Herrenknecht AG |
| Key Market Opportunities | Increasing Regulations and Rules Enforced by Governments of Various Emerging Companies Regarding the Construction of Networked Rail and Road Infrastructure and Their Related Projects |
| Key Market Drivers | Increasing Focus Towards Micro Tunneling |
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The successful application of this machine depends on selecting appropriate equipment and cutting tools for the soil conditions encountered. The other way for tunnel construction is to use explosives; however, incendiaries are extremely risky, and it is frequently difficult to manage the explosion. They are also a danger to the personnel and machinery which work in the tunnel. A minor error in charge of explosives can imperil the entire endeavor. Tunnel boring machines are hence the best options for tunneling operations.
The expansion of railway and road network infrastructure will boost the tunnel boring machine market. Furthermore, public funding in railway pipeline related projects is foreseen to fuel the growth of the tunnel boring machine market. Manufacturers of tunnel boring machines concentrate on micro-tunneling activities which is projected to augment the tunnel boring machines market. Furthermore, the mining industry's increased usage of tunnel boring machines is anticipated to fuel the growth of the tunnel boring machine market.
Market USP Covered:
Market Drivers:
The tunnel boring machine market is expanding rapidly in the global market due to increased regulations and rules imposed by governments of various modern companies involving the installation of interconnected rail and road infrastructure and related projects, which is driving the tunnel boring machine industry. Another factor driving the tunnel boring machine market is the growing emphasis on micro tunneling in areas where huge tunnels cannot be built. Some of the primary reasons propelling the global market include infrastructure upgrading activities, the growth of smart cities, and the upsurge in the trend of tunnel automation. Furthermore, the hard rock mining industry has demonstrated a strong interest in using tunnel boring machines for actual operation and achieving high rates of advancement in civil tunnel building, fueling the growth of the tunnel boring machines market.
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Market Restraints:
The tunnel boring machine market is growing at an alarming rate, but some reasons are limiting its growth, such as the high preliminary cost of the tunnel boring process, which hinder the rate of tunnel boring machines. Furthermore, the government typically bears such elevated expenses as an investment that is not repeated, limiting the expansion of the tunnel boring machine sector.
Tunnel Boring Machine Market Segments
Based on the Machine Type
The slurry tunnel boring machine has the biggest market share in the global market.
Based on the Geology Type
In the global market, the soft ground has the biggest market share.
Based on the End-Users
The road transport industry comprises the lion's share of the global market.
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Tunnel Boring Machine Market Regional Analysis
The Asia-Pacific region holds the greatest share of the tunnel boring market, owing to growth in tunnel projects and increased infrastructure expenditure, primarily in road and rail networks in China and India. Another country with the most tunnel roadways is South Korea. Europe holds the second-largest proportion of the tunnel boring machine market. These machines are becoming more popular worldwide since they have a lower environmental impact than traditional excavation methods. Micro tunnels have increased in popularity in North America to replace old infrastructure. As existing utility systems age, there is a greater need for improved infrastructure across North America. Germany leads the need for tunnel boring machines in Europe, owing to the country's improving and expanding tunneling projects. Furthermore, tunneling projects are being renovated in Europe as part of management and security needs. As a result of these factors, the need for tunnel boring machines in Europe is likely to stay high throughout the projection period.
COVID 19 Analysis
COVID-19 began as a human health crisis and has become a major threat to global economics, trade, and finance. Because of the COVID-19 epidemic, the United States has been the worst-affected country globally, causing a halt in all sectors like manufacturing and automotive, among others. With the COVID-19 pandemic expanding across the United States, it is becoming clear that just a handful will be immune, posing severe problems to all industries. However, the most widespread technology adoption in the region has been observed in the industrial sector, where it is used to convert traditional production processes into smart ones.
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Tunnel Boring Machine Market Competitive Analysis
Dominant Key Players on Tunnel Boring Machine Market Covered are:
- China Railway Construction Heavy Industry Co. Ltd.
- Hitachi Zosen Corporation
- China Railway Engineering Equipment Group Co. Ltd.
- Dalian Huarui Heavy Industry Group Co. Ltd
- Komatsu Ltd.
- China Railway Group Limited (CRGL)
- IHI Corporation
- Northern Heavy Industries Group Co. Ltd.
- Qinhuangdao Tianye Tolian Heavy
- Kawasaki Heavy Industries Ltd.
- Bosch Rexroth AG
- Herrenknecht AG
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