Worldwide Tunnel Boring Machine Industry to 2027 - Rise in Focus Toward Micro-Tunneling is Driving Growth - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Tunnel Boring Machine Market by Machine Type, Geology Type and End User: Global Opportunity Analysis and Industry Forecast, 2020-2027" report has been added to ResearchAndMarkets.com's offering.

The global tunnel boring machines market size was valued $5,476.0 million in 2019 and is expected to reach $7,552.1 million by 2027, growing at a CAGR of 6.0% from 2020 to 2027.

Tunnel boring machine (TBM) is used for tunnel excavation through different rocks and soils. Tunnel boring machines are majorly used for the construction of excavation of coal mines, and tunnels.

An increase in infrastructure development for railway and highway is expected to drive the growth of the global tunnel boring machine market. An increase in the adoption of tunnel boring machines for water supply & disposal, pipelines for oil & gas, and hydropower projects, is anticipated to cater to the growth of the tunnel boring machine market. TBM eliminated operational time required for construction activities as compared to other conventional methods, thereby increasing its adoption. Moreover, an increase in spending on road infrastructure and railway projects is expected to boost the growth of the global tunnel boring machine market. An increase in government spending on pipeline railways and road infrastructure around the globe, is anticipated to drive the growth of the global tunnel boring machine market. For instance, in July 2019, the Italian government invested $33.79 billion on a railway infrastructure project.

However, the fluctuation in raw material prices, and high capital investment & flexibility are projected to hamper the growth of the global tunnel boring machine market. Furthermore, new technological innovations such as ZigBee-based wireless sensors and automation networks are expected to provide lucrative growth opportunities for the growth of the global tunnel boring machine market.

The global tunnel boring machine market is segmented on the basis of machine type, geology type, end user, and region. By machine type, the market is categorized into slurry TBM, earth pressure balance shield TBM, shielded TBM, multi-mode TBM, and others. Others include open type, gripper TBM, and direct pipe, partial face excavation. By geology type, the market is classified into soft ground, hard rock ground, heterogeneous ground, and variable ground. By end user, the market is divided into road transport, railway transport, metro & transit, utilities, mining, oil & gas, and others.

Region wise, the tunnel boring machine market analysis is conducted across North America (U.S., Canada, and Mexico), Europe (UK, France, Germany, Russia, Netherlands, Italy, and rest of Europe), Asia-Pacific (China, Indonesia, Australia, Japan, India, and rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa). In 2019, Asia-Pacific was the highest contributor to the tunnel boring machine market, and is anticipated to secure a leading position during the forecast period.

Key Benefits for Stakeholders

• The report provides an extensive analysis of the current and emerging tunnel boring machine market trends and dynamics.
• In-depth market analysis is conducted by a tunnel boring machine market estimations for the key market segments between 2019 and 2027.
• Extensive analysis of the tunnel boring machine market is conducted by following key product positioning and monitoring of the top competitors within the market framework.
• A comprehensive analysis of all the regions is provided to determine the prevailing opportunities.
• The global tunnel boring machine market forecast analysis from 2020 to 2027 is included in the report.
• The Key market Players within tunnel boring machine market are profiled in this report and their strategies are analyzed thoroughly, which help understand the competitive outlook of the tunnel boring machine market.

Market Dynamics

Drivers

• Increase in traffic infrastructure projects
• Rise in focus toward micro-tunneling
• Increase in the adoption in Mining industry

Restraints

• High investment cost & lack of flexibility
• Fluctuation in raw material prices

Opportunity

• Technological advancements through automation and rock cutting technology

Key Players

• 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.

For more information about this report visit https://www.researchandmarkets.com/r/nbi8e