Tunnel Boring Machine Market (Product Type - Include Soft Ground TBM and Hard Ground TBM; Application - Railway & Highway, Municipal Engineering, and Others): Global Industry Analysis, Trends, Size, Share and Forecasts to 2024

A recent report published by Infinium Global Research on tunnel boring machine market provides in-depth analysis of segments and sub-segments in the global as well as regional tunnel boring machine market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional tunnel boring machine market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global tunnel boring machine market. According to the report, the global tunnel boring machine market is projected to grow at a CAGR of 3.9% over the forecast period of 2018-2024.

Market Insight

A tunnel boring machine is a massive set of complex equipment assembled together to excavate a tunnel through a variety of soil and rock strata. They are also used in microtunneling. These machines particularly used in the process of the tunnel, water conservancy project and mine. Additionally, TBM is particularly used in building tunnels for railways, roads, and pipelines. The type of machines used depends on the particularly geology of the project. The diameter of tunnel boring machines ranges from one metre to 17.6 metres. The tunnel boring machines are particularly used for soft grounds. The types of tunnel boring machines used commercially are a slurry shield (SS), earth pressure balance machines (EPB) and open-face type.

The advantages offered by tunnel boring machines such as greater worker safety, continuous operations, easily trained operation, automated operation, and less rock damage is expected to drive the tunnel boring machine market. The tunnel networks connect major cities within the country, sometimes even international. The rapidly rising metropolitan rail infrastructure projects promote market growth. Moreover, the growing government investment on the railway, pipelines, and road infrastructures across the globe escalates the demand for the market. In addition, increasing demand for tunnel boring machine from mining, transportation, and public utility and many other purposes boost the growth of the tunnel boring machine market. However, tunnel boring machines are expensive to construct and are difficult to transport, that hinders the growth of the market. Furthermore, manufacturing of technologically advanced machines that are easy to assemble and transport creates significant growth opportunities for the global tunnel boring market in coming years.

On the basis of geography, the global tunnel boring machine market is segmented into North America, Europe, Asia Pacific, and RoW. The Asia Pacific region is anticipated to be the largest share for tunnel boring machine market due to growing government expenditure on rail and road infrastructure. As per, Timetric’s Construction Intelligence Center (CIC), Asia Pacific leads globally in railway investment. China has the world largest manufactures of tunnel boring machine. Going further, the growing expenditure on railway and road projects network in countries such as India and South Korea is anticipated to provide growth opportunities for the tunnel boring machine market.

Segment Covered

The report on global tunnel boring machine market covers segments such as product type and application. On the basis of product type, the sub-markets include soft ground TBM and hard ground TBM. On the basis of application, the sub-markets include railway & highway, municipal engineering, and others.

Companies Profiled:

The report provides profiles of the companies in the market such as Herrenknecht AG, The Robbins Company Inc., Mitsubishi Heavy Industries, Ltd., Kawasaki Heavy Industries, Ltd., Hitachi Zosen Corporation, Terratec Ltd., Komatsu, Qinhuangdao Tianye Tolian Heavy Industry Co., Ltd., and SELI S.p.A.

Report Highlights:

The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of tunnel boring machine market. Moreover, the study highlights current market trends and provides forecast from 2018-2024. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.