Tunnel Boring Machine Market Analysis and Global Forecast 2023-2033
Price range: $ 1,390.00 through $ 5,520.00
Tunnel Boring Machine Market Research Report: Information By Machine Type (Slurry TBM, Earth Pressure Balance Shield TBM, Shielded TBM, Multi-Mode TBM, Others,), By Application (Road Transport, Railway Transport, Metro & Transit, Utilities, Mining, Others), and by Region — Forecast till 2033
Page: 151
Tunnel Boring Machine Market Overview
The Tunnel Boring Machine Market Size is expected to reach USD 10.54 Billion by 2033. The Tunnel Boring Machine industry size accounted for USD 5.54 Billion in 2023 and is expected to expand at a compound annual growth rate (CAGR) of 7.54% from 2023 to 2033. The Tunnel Boring Machine (TBM) market encompasses the production, sale, and use of machines designed to excavate tunnels through various geological conditions. TBMs are essential in infrastructure projects, including subways, highways, and utility tunnels. The market is driven by urbanization, infrastructure development, and advancements in tunneling technology. Key factors influencing the market include project size, geological challenges, and regional construction activities. Innovations in TBM technology focus on increasing efficiency, reducing costs, and improving safety. The market is segmented by machine type, application, and region, with significant growth in emerging economies and urban areas.
Global Tunnel Boring Machine Market Synopsis
Tunnel Boring Machine Market Dynamics
The major factors that have impacted the growth of Tunnel Boring Machine are as follows:
Drivers:
Ø Advancements in Tunneling Technology
Innovations in TBM technology, such as improved cutting tools, enhanced automation, and real-time monitoring systems, contribute to increased efficiency, reduced operational costs, and improved safety. These advancements make TBMs more attractive for complex tunneling projects.
Restraint:
- High Initial Investment and Operating Costs
TBMs are complex and expensive machines, with high upfront costs for procurement, transportation, and setup. Additionally, their maintenance and operational costs can be substantial. The financial burden of acquiring and operating TBMs can be a significant barrier for smaller construction firms or projects with tight budgets.
Opportunity:
⮚    Technological Advancements
Ongoing research and development in TBM technology offer opportunities for significant improvements. Innovations such as enhanced automation, real-time monitoring, and advanced cutting tools can increase efficiency, reduce operational costs, and expand the capabilities of TBMs. These advancements open up new possibilities for complex and challenging tunneling projects.
 Tunnel Boring Machine Segment Overview
By Machine Type
Based on Machine Type, the market is segmented based on Slurry TBM, Earth Pressure Balance Shield TBM, Shielded TBM, Multi-Mode TBM, Others. the Earth Pressure Balance (EPB) Shield TBM segment generally dominates due to its versatility and effectiveness in handling a wide range of soil conditions, making it ideal for urban and challenging tunneling projects.
By Application
Based on Applications, the market has been divided into the Road Transport, Railway Transport, Metro & Transit, Utilities, Mining, Others. the Metro & Transit segment typically dominates due to the high demand for efficient and extensive underground transit systems in urban areas. This segment benefits from ongoing urbanization and infrastructure development, driving significant adoption of TBMs.
Global Tunnel Boring Machine Market Regional Analysis
Based on region, the global Tunnel Boring Machine market has been divided into North America, Europe, Asia-Pacific, the Middle East & Africa, and Latin America. Asia Pacific is projected to dominate the use of the Tunnel Boring Machine market followed by the North America and Europe regions.
Tunnel Boring Machine Asia Pacific Market
Asia Pacific holds a dominant position in the Tunnel Boring Machine Market. In 2021, the market for tunnel boring machines in Asia Pacific was valued at USD 2.66 billion. This is explained by the increasing population, quick urbanization, and strong economic growth. The tunnel boring machine market grew as a result of these factors. Additionally, a lot of metro projects are now being built in India, which is expected to enhance the requirement for tunnel boring machines in the near future.
Tunnel Boring Machine North America Market
The North America region has indeed emerged as the fastest-growing market for the Tunnel Boring Machine industry. The market for tunnel boring machines is supported by a rise in road building operations, which has led to an increase in tunneling projects throughout North America, accounting for the third-largest market share. Additionally, the tunnel boring machine market in the United States had the most market share and was expanding at the fastest rate in the North American region.
Competitive Landscape
The global Tunnel Boring Machine market is highly competitive, with numerous players offering a wide range of software solutions. The competitive landscape is characterized by the presence of established companies, as well as emerging startups and niche players. To increase their market position and attract a wide consumer base, the businesses are employing various strategies, such as Machine Typelaunches, and strategic alliances.
Prominent Players:
- China Railway Construction Heavy Industry Co. Ltd.
- Herrenknecht AG
- China Railway Engineering Equipment Group Co., Ltd.
- Dalian Huarui Heavy Industry Group Co., Ltd.
- 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.
Key Development
In September 2022, Hitachi Zosen Corporation focused on advancing its Tunnel Boring Machine (TBM) technology by introducing new models with enhanced performance features and improved safety measures to address the growing demands of large-scale infrastructure projects.
Scope of the Report
Global Tunnel Boring Machine Market, by Machine Type
- Slurry TBM
- Earth Pressure Balance Shield TBM
- Shielded TBM
- Multi-Mode TBM
- Others
 Global Tunnel Boring Machine Market, by Application
- Road Transport
- Railway Transport
- Metro & Transit
- Utilities
- Mining
- Others
 Global Tunnel Boring Machine Market, by Region
- North America
- US
- Canada
- Mexico
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Benelux
- Nordic
- Rest of Europe
- Asia Pacific
- China
- Japan
- South Korea
- Indonesia
- Austalia
- Malaysia
- India
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- Saudi Arabia
- UAE
- Egypt
- South Africa
- Rest of Middle East & Africa
| Parameters | Indicators |
|---|---|
| Market Size | 2033: USD 10.54 Billion |
| CAGR (2023-2033) | 7.54% |
| Base year | 2022 |
| Forecast Period | 2023-2033 |
| Historical Data | 2021 (2017 to 2020 On Demand) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Key Segmentations | Machine Type, Application |
| Geographies Covered | North America, Europe, Asia-Pacific, South America, Middle East, Africa |
| Key Vendors | China Railway Construction Heavy Industry Co. Ltd., Herrenknecht AG, China Railway Engineering Equipment Group Co., Ltd., Dalian Huarui Heavy Industry Group Co., Ltd., 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. |
| Key Market Opportunities | ·      Supportive government initiatives for electric vehicles |
| Key Market Drivers | ·      Rising demand for vehicles in developing economies Growing awareness regarding automotive HUD among consumers |
REPORT CONTENT BRIEF:
- High-level analysis of the current and future Tunnel Boring Machine market trends and opportunities
- Detailed analysis of current market drivers, restraining factors, and opportunities in the future
- Tunnel Boring Machine market historical market size for the year 2021, and forecast from 2023 to 2033
- Tunnel Boring Machine market share analysis at each Machine Type level
- Competitor analysis with detailed insight into its Machine Type segment, Government & Defense strength, and strategies adopted.
- Identifies key strategies adopted including Machine Type launches and developments, mergers and acquisitions, joint ventures, collaborations, and partnerships as well as funding taken and investment done, among others.
- To identify and understand the various factors involved in the global Tunnel Boring Machine market affected by the pandemic
- To provide a detailed insight into the major companies operating in the market. The profiling will include the Government & Defense health of the company’s past 2-3 years with segmental and regional revenue breakup, Machine Type offering, recent developments, SWOT analysis, and key strategies.
Frequently Asked Questions (FAQ)
What is the growth rate of the global Tunnel Boring Machine market?
The global Tunnel Boring Machine market is growing at a CAGR of 7.54% over the next 10 years
Which region has the highest growth rate in the market of Tunnel Boring Machine?
Asia Pacific is expected to register the highest CAGR during 2023-2033
Which region has the largest share of the global Tunnel Boring Machine market?
North America holds the largest share in 2022
Who are the key players in the global Tunnel Boring Machine market?
China Railway Construction Heavy Industry Co. Ltd., Herrenknecht AG, China Railway Engineering Equipment Group Co., Ltd., Dalian Huarui Heavy Industry Group Co., Ltd., Hitachi Zosen Corporation, IHI Corporation, Kawasaki Heavy Industries Ltd, Komatsu Ltd., Northern Heavy Industries Group Co., Ltd. (The Robbins Company, Inc.), and QINHUANGDAO TIANYE TOLIAN HEAVY INDUSTRY CO., LTD. are the major companies operating in the market.
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Table of Content
Chapter 1. Executive Summary Chapter 2. Scope Of The Study 2.1. Market Definition 2.2. Scope Of The Study 2.2.1. Objectives of Report 2.2.2. Limitations 2.3. Market Structure Chapter 3. Evolve BI Methodology Chapter 4. Market Insights and Trends 4.1. Supply/ Value Chain Analysis 4.1.1. Raw Applications Providers 4.1.2. Manufacturing Process 4.1.3. Distributors/Retailers 4.1.4. End-Use Industry 4.2. Porter’s Five Forces Analysis 4.2.1. Threat Of New Entrants 4.2.2. Bargaining Power Of Buyers 4.2.3. Bargaining Power Of Suppliers 4.2.4. Threat Of Substitutes 4.2.5. Industry Rivalry 4.3. Impact Of COVID-19 on the Tunnel Boring Machine Market 4.3.1. Impact on Market Size 4.3.2. End-Use Industry Trend, Preferences, and Budget Impact 4.3.3. Regulatory Framework/Government Policies 4.3.4. Key Players' Strategy to Tackle Negative Impact 4.3.5. Opportunity Window 4.4. Technology Overview 12.28. Macro factor 4.6. Micro Factor 4.7. Demand Supply Gap Analysis of the Tunnel Boring Machine Market 4.8. Import Analysis of the Tunnel Boring Machine Market 4.9. Export Analysis of the Tunnel Boring Machine Market Chapter 5. Market Dynamics 5.1. Introduction 5.2. DROC Analysis 5.2.1. Drivers 5.2.2. Restraints 5.2.3. Opportunities 5.2.4. Challenges 5.3. Patent Analysis 5.4. Industry Roadmap 5.5. Parent/Peer Market Analysis Chapter 6. Global Tunnel Boring Machine Market, By Machine Type 6.1. Introduction 6.2. Slurry TBM 6.3. Earth Pressure Balance Shield TBM 8.4. Shielded TBM 6.5. Multi-Mode TBM 6.6. Others Chapter 7. Global Tunnel Boring Machine Market, By Application 7.1. Introduction 7.2. Road Transport 7.3. Railway Transport 7.4. Metro & Transit 7.5. Utilities 7.6. Mining 7.7. Others Chapter 8. Global Tunnel Boring Machine Market, By Region 8.1. Introduction 8.2. North America 8.2.1. Introduction 8.2.2. Driving Factors, Opportunity Analyzed, and Key Trends 8.2.3. Market Size and Forecast, By Country, 2023-2033 8.2.4. Market Size and Forecast, By Machine Type, 2023-2033 8.2.5. Market Size and Forecast, By Application, 2023-2033 8.2.6. US 8.2.6.1. Introduction 8.2.6.2. Driving Factors, Opportunity Analyzed, and Key Trends 8.2.6.3. Market Size and Forecast, By Machine Type, 2023-2033 8.2.6.4. Market Size and Forecast, By Application, 2023-2033 8.2.7. Canada 8.2.7.1. Introduction 8.2.7.2. Driving Factors, Opportunity Analyzed, and Key Trends 8.2.7.4. Market Size and Forecast, By Machine Type, 2023-2033 8.2.7.5. Market Size and Forecast, By Application, 2023-2033 8.3. Europe 8.3.1. Introduction 8.3.2. Driving Factors, Opportunity Analyzed, and Key Trends 8.3.3. Market Size and Forecast, By Country, 2023-2033 8.3.4. Market Size and Forecast, By Machine Type, 2023-2033 8.3.5. Market Size and Forecast, By Application, 2023-2033 8.3.6. Germany 8.3.6.1. Introduction 8.3.6.2. Driving Factors, Opportunity Analyzed, and Key Trends 8.3.6.3. Market Size and Forecast, By Machine Type, 2023-2033 8.3.6.4. Market Size and Forecast, By Application, 2023-2033 8.3.7. France 8.3.7.1. Introduction 8.3.7.2. Driving Factors, Opportunity Analyzed, and Key Trends 8.3.7.3. Market Size and Forecast, By Machine Type, 2023-2033 8.3.7.4. Market Size and Forecast, By Application, 2023-2033 8.3.8. UK 8.3.8.1. Introduction 8.3.8.2. Driving Factors, Opportunity Analyzed, and Key Trends 8.3.8.3. Market Size and Forecast, By Machine Type, 2023-2033 8.3.8.4. Market Size and Forecast, By Application, 2023-2033 8.3.9. Italy 8.3.9.1. Introduction 8.3.9.2. Driving Factors, Opportunity Analyzed, and Key Trends 8.3.9.3. Market Size and Forecast, By Machine Type, 2023-2033 8.3.9.4. Market Size and Forecast, By Application, 2023-2033 8.3.11. Rest Of Europe 8.3.11.1. Introduction 8.3.11.2. Driving Factors, Opportunity Analyzed, and Key Trends 8.3.11.3. Market Size and Forecast, By Machine Type, 2023-2033 8.3.11.4. Market Size and Forecast, By Application, 2023-2033 8.4. Asia-Pacific 8.4.1. Introduction 8.4.2. Driving Factors, Opportunity Analyzed, and Key Trends 8.4.3. Market Size and Forecast, By Country, 2023-2033 8.4.4. Market Size and Forecast, By Machine Type, 2023-2033 8.12.28. Market Size and Forecast, By Application, 2023-2033 8.4.6. China 8.4.6.1. Introduction 8.4.6.2. Driving Factors, Opportunity Analyzed, and Key Trends 8.4.6.3. Market Size and Forecast, By Machine Type, 2023-2033 8.4.6.4. Market Size and Forecast, By Application, 2023-2033 8.4.7. India 8.4.7.1. Introduction 8.4.7.2. Driving Factors, Opportunity Analyzed, and Key Trends 8.4.7.3. Market Size and Forecast, By Machine Type, 2023-2033 8.4.7.4. Market Size and Forecast, By Application, 2023-2033 8.4.8. Japan 8.4.8.1. Introduction 8.4.8.2. Driving Factors, Opportunity Analyzed, and Key Trends 8.4.8.3. Market Size and Forecast, By Machine Type, 2023-2033 8.4.8.4. Market Size and Forecast, By Application, 2023-2033 8.4.9. South Korea 8.4.9.1. Introduction 8.4.9.2. Driving Factors, Opportunity Analyzed, and Key Trends 8.4.9.3. Market Size and Forecast, By Machine Type, 2023-2033 8.4.9.4. Market Size and Forecast, By Application, 2023-2033 8.4.10. Rest Of Asia-Pacific 8.4.10.1. Introduction 8.4.10.2. Driving Factors, Opportunity Analyzed, and Key Trends 8.4.10.3. Market Size and Forecast, By Machine Type, 2023-2033 8.4.10.4. Market Size and Forecast, By Application, 2023-2033 8.5. Rest Of The World (RoW) 8.5.1. Introduction 8.5.2. Driving Factors, Opportunity Analyzed, and Key Trends 8.5.3. Market Size and Forecast, By Machine Type, 2023-2033 8.5.4. Market Size and Forecast, By Application, 2023-2033 Chapter 9. Company Landscape 9.1. Introduction 9.2. Vendor Share Analysis 9.3. Key Development Analysis 9.4. Competitor Dashboard Chapter 10. Company Profiles 10.1. China Railway Construction Heavy Industry Co. Ltd. 10.1.1. Business Overview 10.1.2. Government & Defense Analysis 10.1.2.1. Government & Defense – Existing/Funding 10.1.3. Machine TypePortfolio 10.1.4. Recent Development and Strategies Adopted 10.1.5. SWOT Analysis 10.2. Herrenknecht AG 10.2.1. Business Overview 10.2.2. Government & Defense Analysis 10.2.2.1. Government & Defense – Existing/Funding 10.2.3. Machine TypePortfolio 10.2.4. Recent Development and Strategies Adopted 10.2.5. SWOT Analysis 10.3. China Railway Engineering Equipment Group Co., Ltd. 10.3.1. Business Overview 10.3.2. Government & Defense Analysis 10.3.2.1. Government & Defense – Existing/Funding 10.3.3. Machine TypePortfolio 10.3.4. Recent Development and Strategies Adopted 10.3.5. SWOT Analysis 10.4. Dalian Huarui Heavy Industry Group Co., Ltd. 10.4.1. Business Overview 10.4.2. Government & Defense Analysis 10.4.2.1. Government & Defense – Existing/Funding 10.4.3. Machine TypePortfolio 10.4.4. Recent Development and Strategies Adopted 10.12.28. SWOT Analysis 10.5. Hitachi Zosen Corporation 10.5.1. Business Overview 10.5.2. Government & Defense Analysis 10.5.2.1. Government & Defense – Existing/Funding 10.5.3. Machine TypePortfolio 10.5.4. Recent Development and Strategies Adopted 10.5.5. SWOT Analysis 10.6. IHI Corporation 10.6.1. Business Overview 10.6.2. Government & Defense Analysis 10.6.2.1. Government & Defense – Existing/Funding 10.6.3. Machine TypePortfolio 10.6.4. Recent Development and Strategies Adopted 10.6.5. SWOT Analysis 10.7. Kawasaki Heavy Industries Ltd 10.7.1. Business Overview 10.7.2. Government & Defense Analysis 10.7.2.1. Government & Defense – Existing/Funding 10.7.3. Machine TypePortfolio 10.7.4. Recent Development and Strategies Adopted 10.7.5. SWOT Analysis 10.8 Komatsu Ltd. 10.8.1. Business Overview 10.8.2. Government & Defense Analysis 10.8.2.1. Government & Defense – Existing/Funding 10.8.3. Machine TypePortfolio 10.8.4. Recent Development and Strategies Adopted 10.8.5. SWOT Analysis 10.9 Northern Heavy Industries Group Co., Ltd. (The Robbins Company, Inc.) 10.9.1. Business Overview 10.9.2. Government & Defense Analysis 10.9.2.1. Government & Defense – Existing/Funding 10.9.3. Machine TypePortfolio 10.9.4. Recent Development and Strategies Adopted 10.9.5. SWOT Analysis 10.10. QINHUANGDAO TIANYE TOLIAN HEAVY INDUSTRY CO., LTD. 10.10.1. Business Overview 10.10.2. Government & Defense Analysis 10.10.2.1. Government & Defense – Existing/Funding 10.10.3. Machine TypePortfolio 10.10.4. Recent Development and Strategies Adopted 10.10.5. SWOT Analysis
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