Global Tunnel Boring Machine (TBM) Market by Type (Soft Ground TBMs, Hard Rock TBMs, Others), Application (City Rail Systems, Railway and Highway, Municipal Engineering, and Others), Sales Channel (Direct Sales and Indirect Sales), and Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2021 – 2028

Tunnel Boring Machine (TBM) Market Market Outlook:

The global tunnel boring machine market was valued at USD 6,319.9 Mn in 2020 and is projected to reach USD 9,337.8 Mn by 2028, expanding at a CAGR of 5.2% during the forecast period. Tunnel boring machines offer services and solutions for excavation. 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.

Scope of Tunnel Boring Machine (TBM) Market Report  

The report on Tunnel Boring Machine Market includes an assessment of the market, size, share, trends, segments, and country markets. Overview and dynamics have been included in the report.

Tunnel Boring Machine (TBM) Market Market Dynamics:

Increasing Expenditure on Road and Railway Infrastructure

Many developed and developing countries are investing in road and railway infrastructure. The development of highway and railways is considered to improve connectivity between cities. Rising investment towards these developments is expected to propel economic growth. This is fueling the demand for tunnel boring machines around the globe. Moreover, investments offered by the governments in railway pipeline projects is anticipated to fuel the tunnel boring machine market.

Rising Disposable Income Across the World Supports Various Projects

Tunnel boring machines are employed in a large number of projects such as hydropower, water pipeline project, and pipelines for oil & gas; which in turn, is projected to boost the demand for tunnel boring machines. Increasing rapid urbanization and industrialization among developing countries such as India, China, and others are anticipated to drive the tunnel boring machine market. Growing disposable income across the world is anticipated to drive the market during the forecast period.

Growing Popularity of Microtunnelling

The enhanced comfort presented by using merchandise and vast boom inside the food processing industry is facilitating the uptake of Tunnel Boring Machine (TBM). The marketplace is similarly pushed via the growing reputation of international cuisines. Supported by using the fast expansion of online and prepared retail across the globe is anticipated to provide a positive impact on the market growth.

Along with this, numerous quick-service restaurant (QSR) chains, restaurants, and lodges, in addition to numerous retail and comfort shops, are offering a selection of merchandise that contain Tunnel Boring Machine (TBM) as the important thing factor. Coupled with the increasing demand for food on the global level, that is presenting an impetus to the marketplace growth.

Restraints:

High initial Cost

Players involved in designing and manufacturing tunnel boring machines are required to invest a heavy amount during the initial phase. The production od TBM is an expensive procedure. Some players in the market engage in direct sales involving high investments. These factors are considered to impede the market growth. For instance, generation of tunnels in New York is estimated to cost around USD 1.5 to USD 2.5B per mile.

Lack of advanced technology in underdeveloped countries

Less investment in research and development, low enrolment rates in higher education, limited supply of skilled labor, and inadequate or unstable policy and regulatory environments capable of promoting progress are some factors that are responsible for the poor state of science, technology, and innovation in underdeveloped countries. These factors are considered to hinder the market growth.

Tunnel Boring Machine (TBM) Market Segmental Outlook:

The global Tunnel Boring Machine (TBM) market is segmented on the basis of types, application, sales channel, and regions.

In terms of types, the Tunnel Boring Machine (TBM) Sales Market is bifurcated into soft ground tbms, hard rock TBMS, others. The design of the new generation of multi-mode soft ground machine made it convenient to smoothly switch between EPB and slurry modes in the tunnel by maintaining permanent and full control of face pressure.

This new machine generation is named as variable density TBM and offers safety and flexibility in the choice of tunnel face support and discharge of muck, which in turn, is expected to propel the market share of soft ground TBMs.

In terms of application, the Tunnel Boring Machine (TBM) Sales Market is segmented into city rail systems, railway and highway, municipal engineering, and others. The city rail systems segment is projected to expand at a significant CAGR during the forecast period, as tunnel boring machines are used in generation of connectivity for local stations.

The municipal engineering segment is expected to expand at a high growth rate, as municipal engineers work upon underground construction. Such as metro railway projects. The others segment is expected to hold a considerable share of the market, owing to activities such as extraction of oil and gas.

In terms of sales channel, the Tunnel Boring Machine (TBM) sales market is bifurcated into direct sales and indirect sales channels. The indirect sales channel segment is projected to expand at a significant CAGR during the forecast period, as it allows to expand business by using different channels and helps players to penetrate their products around the globe. The direct sales channel segment is anticipated to hold a considerable share of the market, owing to high capital investments required initially.

Tunnel Boring Machine (TBM) Market Regional Outlook

Based on regions, the Global Tunnel Boring Machine (TBM) Market is fragmented into North America, Europe, Latin America, and Middle East & Africa. The global tunnel boring machine market is dominated by the market in North America, which is primarily driven by advancement in technology. The tunnel boring machine market in Europe is anticipated to hold a substantial share of the global market during the forecast period, owing to existence of major players in the region.

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.

Key Benefits for Industry Participants & Stakeholders

• In-depth Analysis of the global Tunnel Boring Machine (TBM) market
• Historical, Current and Projected Market Size in terms of Value and Volume
• Potential & Niche Segments and Regions Exhibiting Promising Growth Covered
• Industry Drivers, Restraints and Opportunities Covered in the Study
• Recent Industry Trends and Developments
• Competitive Landscape & Strategies of Key Players
• Neutral Perspective on Global Tunnel Boring Machine (TBM) Market Performance