According to a recent market study published by Growth Market Reports, titled, “Global Tunnel Boring Machine (TBM) Market – by type, by application, by sales channel, and by regions: Size, Share, Trends and Opportunity Analysis, 2018-2028”, the market was valued at US$ 6,319.9 Million in 2020 and is expected to grow at a moderate growth rate of 5.2% by the year 2028. increasing expenditure on road and railway infrastructure is expected to act as a driving force for the market and Technological Advancements and innovations are expected to drive the market growth during the forecast period.
Request a free sample copy @ https://growthmarketreports.com/request-sample/4056
The construction of tunnels is a complex procedure. Tunnels are extensively used for transportation; therefore, they require engineering, planning, and digging. Tunnel boring (TB), also known as a mole, are highly elaborate construction machinery that are responsible for building advanced and longest tunnels. Advancements in tunnelling technology has introduced massive tunnel boring machines (TBM).
They are used to excavate tunnels with a circular cross section and can be used for microtunnelling, an underground tunnel construction to construct utility tunnels from approximately 500mm to 4,000mm in diameter. TBM can be used to bore through a range of ground conditions such as hard rocks and sand. These machines are designed to excavate non-circular tunnels such as u-shaped, square, rectangular, and horseshoe tunnels.
TBM can be used for drilling and blasting (D&B) methods in conventional hand mining and rock. TBM offers some advantages such as limitation of disturbance to the surrounding ground and production of a smooth tunnel wall. This significantly reduces the cost of lining the tunnel and makes them suitable to be employed in heavily urbanized areas.
The global Tunnel Boring Machine (TBM) market is fragmented based on type, application, sales channel, and regions. In terms of types, the Tunnel Boring Machine (TBM) Market is bifurcated into soft ground TBMs, hard rock TBMs, and others. On the basis of application, the Tunnel Boring Machine (TBM) Sales Market is segmented into city rail systems, railway and highway, municipal engineering, and others. In terms of sales channel, the Tunnel Boring Machine (TBM) market is bifurcated into direct sales and indirect sales channels. Based on regions the global Tunnel Boring Machine (TBM) market has been fragmented into Europe, North America, Asia Pacific, Latin America, and Middle East & Africa.
The Tunnel Boring Machine (TBM) market is projected to witness a slight increase in Year-on-year growth for 2020 as compared to for previous year 2019. Regulatory Bodies Anticipated to Play a Key Role in Boosting the Market is supporting growth of the market in 2020. The Tunnel Boring Machine (TBM) market is growing at a significant pace due to growing railway and highway industry expected to fuel the market.
As per Growth Market Reports industry analyst Raksha Sharma, “The global Tunnel Boring Machine (TBM) market is anticipated to witness moderate growth during the forecast period 2020-2027. The Tunnel Boring Machine (TBM) market is registering growth opportunities across the globe, owing to the technological advancements & innovations and penetration of players in various countries”. Rising construction activities for city rail systems is considered to support the market growth. The hard rock TBMs segment is anticipated to hold a significant share of the market, owing to underground construction.
The first quarter of 2020 was an unforeseen turning point for the Tunnel Boring Machine (TBM) market. Supply chains were disturbed by COVID-19 outbreaks in major regions, thus reducing the demand for various products, due to uncertainty in the global economy. Certain discrepancies in production and supply chain created mild disruptions across some areas in the supply chain of the Tunnel Boring Machine (TBM) market. However, after second quadrant due to increasing product demand for industries has boosted market growth in 2020.
Key Takeaways from the Study
- The players including China Railway Construction Heavy Industry Co., Ltd., DALIAN HUARUI HEAVY INDUSTRY GROUP CO., LTD, Herrenknecht AG, Liaoning Censcience Industry Co., Ltd, Kawasaki Heavy Industries, Ltd among others hold significant share of global Tunnel Boring Machine (TBM) market in year 2020.
- Asia Pacific is a key region of the market. It accounted for a market share of 31.73% in 2020 The tunnel boring machine market in Asia Pacific is expected to grow at a rapid pace during the forecast period, owing to rising demand for connectivity and innovations in the region. The global tunnel boring machine market is dominated by the market in North America, which is primarily driven by advancement in technology.
- In terms of sales channel, the indirect sales segment held a considerable share of the market in 2020 and is projected to account for a substantial share of the market during the forecast period, as it allows to expand business by using different channels and helps players to penetrate their products around the globe.
Report Scope
Report Metric |
Details |
Market Value in 2020 |
US$ 6,319.9 Million |
Market Growth Rate (from 2020 to 2028) |
5.2% |
Historical Data |
2018, & 2019 |
Base Year |
2020 |
Forecast Period |
2021 - 2028 |
Units Considered |
Value (US$ Million) |
Market Segments |
Type, Application, Sales Channel, and Regions |
Regional Scope |
North America, Europe, Asia Pacific, Latin America, Middle East & Africa |
Key Companies Profiled |
China Railway Construction Heavy Industry Co., Ltd., DALIAN HUARUI HEAVY INDUSTRY GROUP CO., LTD, Herrenknecht AG, Liaoning Censcience Industry Co., Ltd, Kawasaki Heavy Industries, Ltd. |
Customization Scope |
Report customization available on request |
Pricing and Purchase Options |
Avail tailor-made purchase options to meet your research requirements. |
Target Audience
- Supply-side: Manufacturers, raw material suppliers, and distributors
- Demand Side: Retail and food services
- Regulatory Side: Concerned government authorities, and other regulatory bodies such as Environment Protection Authority Victoria (EPA) and International Tunnelling Association.