Tunnel Boring Machine (TBM) Market

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)

  • Report ID: CM-4056
  • Author: Growth Market Reports
  • Rating: 4.8
  • Total Reviews: 2
  • No. Of Pages: 232
  • Format:
  • Pub. Date: 09-09-2021
  • Share:

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.

Tunnel Boring Machine (TBM) Market key takeaways

Scope of the 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.

Attributes

Details

Report Title

Tunnel Boring Machine (TBM) – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast

Base Year

2020

Historic Data

2018–2019

Forecast Period

2021–2028

Segmentation

Type (Soft Ground TBMs, Hard Rock TBMs, and Others), Application (City Rail Systems, Railway and Highway, Municipal Engineering, and Others), and Sales Channel (Direct Sales and Indirect Sales)

Regional Scope

Asia Pacific, North America, Latin America, Europe, and Middle East & Africa

Report Coverage

Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast

Key Players Covered

China Railway Construction Heavy Industry Co., Ltd., DALIAN HUARUI HEAVY INDUSTRY GROUP CO., LTD, Herrenknecht AG, Liaoning Censcience Industry Co., Ltd, Komatsu, Robbins, Normet, E-Berk Tunneling & Foundation Technologies, EM Korea, China Railway Engineering Equipment Group Co., Ltd., Kawasaki Heavy Industries, Ltd, IHI Corporation, TERRATEC Ltd., Hitachi Zosen Corporation, JIM TECHNOLOGY CORPORATION, Xiamen Xiagong Machinery Co., Ltd., Tunnel Engineering Services (UK) Ltd, Akkerman, Sika AG, and Yangzhou Dilong Machinery Co., Ltd.

 

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.

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.

Tunnel Boring Machine (TBM) Market by type

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.

Tunnel Boring Machine (TBM) Market by applications

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 by sales channels

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

Segments

Key Segments Covered

By Types

  • Soft Ground TBMs
  • Hard Rock TBMs
  • Others
By Application
  • City Rail Systems
  • Railway and Highway
  • Municipal Engineering
  • Others
By Sales Channel
  • Direct Sales
  • Indirect Sales
By Regions
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa
Key Market Players Profiled in the Report
  • China Railway Construction Heavy Industry Co., Ltd.
  • DALIAN HUARUI HEAVY INDUSTRY GROUP CO., LTD
  • Herrenknecht AG
  • Liaoning Censcience Industry Co., Ltd
  • Komatsu
  • Robbins
  • Normet
  • E-Berk Tunneling & Foundation Technologies
  • EM Korea
  • China Railway Engineering Equipment Group Co., Ltd.
  • Kawasaki Heavy Industries, Ltd
  • IHI Corporation
  • TERRATEC Ltd.
  • Hitachi Zosen Corporation
  • JIM TECHNOLOGY CORPORATION
  • Xiamen Xiagong Machinery Co., Ltd.
  • Tunnel Engineering Services (UK) Ltd
  • Akkerman
  • Sika AG
  • Yangzhou Dilong Machinery Co., Ltd.

Competitive Landscape

  • Top players in the market include 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, and Others.
  • These companies are considered as key manufacturers of piezoelectric element based on their revenue, product offerings, regional presence, and supply chain management system.
  • The players are adopting key strategies such as acquisition, collaborations, and geographical expansion where potential opportunity for the Tunnel Boring Machine (TBM) market.
Tunnel Boring Machine (TBM) Market by key players
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Tunnel Boring Machine (TBM) Market Overview
   4.1 Introduction
      4.1.1 Market Taxonomy
      4.1.2 Market Definition
      4.1.3 Macro-Economic Factors Impacting the Market Growth
   4.2 Tunnel Boring Machine (TBM) Market Dynamics
      4.2.1 Market Drivers
      4.2.2 Market Restraints
      4.2.3 Market Opportunity
   4.3 Tunnel Boring Machine (TBM) Market - Supply Chain Analysis
      4.3.1 List of Key Suppliers
      4.3.2 List of Key Distributors
      4.3.3 List of Key Consumers
   4.4 Key Forces Shaping the Tunnel Boring Machine (TBM) Market
      4.4.1 Bargaining Power of Suppliers
      4.4.2 Bargaining Power of Buyers
      4.4.3 Threat of Substitution
      4.4.4 Threat of New Entrants
      4.4.5 Competitive Rivalry
   4.5 Global Tunnel Boring Machine (TBM) Market Size & Forecast, 2018-2028
      4.5.1 Tunnel Boring Machine (TBM) Market Size and Y-o-Y Growth
      4.5.2 Tunnel Boring Machine (TBM) Market Absolute $ Opportunity
Chapter 5 Global Tunnel Boring Machine (TBM) Market Analysis and Forecast By Type
   5.1 Introduction
      5.1.1 Key Market Trends & Growth Opportunities By Type
      5.1.2 Basis Point Share (BPS) Analysis By Type
      5.1.3 Absolute $ Opportunity Assessment By Type
   5.2 Tunnel Boring Machine (TBM) Market Size Forecast By Type
      5.2.1 Soft Ground TBMs
      5.2.2 Hard Rock TBMs
      5.2.3 Others
   5.3 Market Attractiveness Analysis By Type
Chapter 6 Global Tunnel Boring Machine (TBM) Market Analysis and Forecast By Application
   6.1 Introduction
      6.1.1 Key Market Trends & Growth Opportunities By Application
      6.1.2 Basis Point Share (BPS) Analysis By Application
      6.1.3 Absolute $ Opportunity Assessment By Application
   6.2 Tunnel Boring Machine (TBM) Market Size Forecast By Application
      6.2.1 City Rail Systems
      6.2.2 Railway and Highway
      6.2.3 Municipal Engineering
      6.2.4 Others
   6.3 Market Attractiveness Analysis By Application
Chapter 7 Global Tunnel Boring Machine (TBM) Market Analysis and Forecast By Sales channel
   7.1 Introduction
      7.1.1 Key Market Trends & Growth Opportunities By Sales channel
      7.1.2 Basis Point Share (BPS) Analysis By Sales channel
      7.1.3 Absolute $ Opportunity Assessment By Sales channel
   7.2 Tunnel Boring Machine (TBM) Market Size Forecast By Sales channel
      7.2.1 Direct Sales
      7.2.2 Indirect Sales
   7.3 Market Attractiveness Analysis By Sales channel

Chapter 8 Global Tunnel Boring Machine (TBM) Market Analysis and Forecast by Region
   8.1 Introduction
      8.1.1 Key Market Trends & Growth Opportunities by Region
      8.1.2 Basis Point Share (BPS) Analysis by Region
      8.1.3 Absolute $ Opportunity Assessment by Region
   8.2 Tunnel Boring Machine (TBM) Market Size Forecast by Region
      8.2.1 North America
      8.2.2 Europe
      8.2.3 Asia Pacific
      8.2.4 Latin America
      8.2.5 Middle East & Africa (MEA)
   8.3 Market Attractiveness Analysis by Region
Chapter 9 Coronavirus Disease (COVID-19) Impact
   9.1 Introduction
   9.2 Current & Future Impact Analysis
   9.3 Economic Impact Analysis
   9.4 Government Policies
   9.5 Investment Scenario
Chapter 10 North America Tunnel Boring Machine (TBM) Analysis and Forecast
   10.1 Introduction
   10.2 North America Tunnel Boring Machine (TBM) Market Size Forecast by Country
      10.2.1 U.S.
      10.2.2 Canada
   10.3 Basis Point Share (BPS) Analysis by Country
   10.4 Absolute $ Opportunity Assessment by Country
   10.5 Market Attractiveness Analysis by Country
   10.6 North America Tunnel Boring Machine (TBM) Market Size Forecast By Type
      10.6.1 Soft Ground TBMs
      10.6.2 Hard Rock TBMs
      10.6.3 Others
   10.7 Basis Point Share (BPS) Analysis By Type
   10.8 Absolute $ Opportunity Assessment By Type
   10.9 Market Attractiveness Analysis By Type
   10.10 North America Tunnel Boring Machine (TBM) Market Size Forecast By Application
      10.10.1 City Rail Systems
      10.10.2 Railway and Highway
      10.10.3 Municipal Engineering
      10.10.4 Others
   10.11 Basis Point Share (BPS) Analysis By Application
   10.12 Absolute $ Opportunity Assessment By Application
   10.13 Market Attractiveness Analysis By Application
   10.14 North America Tunnel Boring Machine (TBM) Market Size Forecast By Sales channel
      10.14.1 Direct Sales
      10.14.2 Indirect Sales
   10.15 Basis Point Share (BPS) Analysis By Sales channel
   10.16 Absolute $ Opportunity Assessment By Sales channel
   10.17 Market Attractiveness Analysis By Sales channel
Chapter 11 Europe Tunnel Boring Machine (TBM) Analysis and Forecast
   11.1 Introduction
   11.2 Europe Tunnel Boring Machine (TBM) Market Size Forecast by Country
      11.2.1 Germany
      11.2.2 France
      11.2.3 Italy
      11.2.4 U.K.
      11.2.5 Spain
      11.2.6 Russia
      11.2.7 Rest of Europe
   11.3 Basis Point Share (BPS) Analysis by Country
   11.4 Absolute $ Opportunity Assessment by Country
   11.5 Market Attractiveness Analysis by Country
   11.6 Europe Tunnel Boring Machine (TBM) Market Size Forecast By Type
      11.6.1 Soft Ground TBMs
      11.6.2 Hard Rock TBMs
      11.6.3 Others
   11.7 Basis Point Share (BPS) Analysis By Type
   11.8 Absolute $ Opportunity Assessment By Type
   11.9 Market Attractiveness Analysis By Type
   11.10 Europe Tunnel Boring Machine (TBM) Market Size Forecast By Application
      11.10.1 City Rail Systems
      11.10.2 Railway and Highway
      11.10.3 Municipal Engineering
      11.10.4 Others
   11.11 Basis Point Share (BPS) Analysis By Application
   11.12 Absolute $ Opportunity Assessment By Application
   11.13 Market Attractiveness Analysis By Application
   11.14 Europe Tunnel Boring Machine (TBM) Market Size Forecast By Sales channel
      11.14.1 Direct Sales
      11.14.2 Indirect Sales
   11.15 Basis Point Share (BPS) Analysis By Sales channel
   11.16 Absolute $ Opportunity Assessment By Sales channel
   11.17 Market Attractiveness Analysis By Sales channel
Chapter 12 Asia Pacific Tunnel Boring Machine (TBM) Analysis and Forecast
   12.1 Introduction
   12.2 Asia Pacific Tunnel Boring Machine (TBM) Market Size Forecast by Country
      12.2.1 China
      12.2.2 Japan
      12.2.3 South Korea
      12.2.4 India
      12.2.5 Australia
      12.2.6 South East Asia (SEA)
      12.2.7 Rest of Asia Pacific (APAC)
   12.3 Basis Point Share (BPS) Analysis by Country
   12.4 Absolute $ Opportunity Assessment by Country
   12.5 Market Attractiveness Analysis by Country
   12.6 Asia Pacific Tunnel Boring Machine (TBM) Market Size Forecast By Type
      12.6.1 Soft Ground TBMs
      12.6.2 Hard Rock TBMs
      12.6.3 Others
   12.7 Basis Point Share (BPS) Analysis By Type
   12.8 Absolute $ Opportunity Assessment By Type
   12.9 Market Attractiveness Analysis By Type
   12.10 Asia Pacific Tunnel Boring Machine (TBM) Market Size Forecast By Application
      12.10.1 City Rail Systems
      12.10.2 Railway and Highway
      12.10.3 Municipal Engineering
      12.10.4 Others
   12.11 Basis Point Share (BPS) Analysis By Application
   12.12 Absolute $ Opportunity Assessment By Application
   12.13 Market Attractiveness Analysis By Application
   12.14 Asia Pacific Tunnel Boring Machine (TBM) Market Size Forecast By Sales channel
      12.14.1 Direct Sales
      12.14.2 Indirect Sales
   12.15 Basis Point Share (BPS) Analysis By Sales channel
   12.16 Absolute $ Opportunity Assessment By Sales channel
   12.17 Market Attractiveness Analysis By Sales channel
Chapter 13 Latin America Tunnel Boring Machine (TBM) Analysis and Forecast
   13.1 Introduction
   13.2 Latin America Tunnel Boring Machine (TBM) Market Size Forecast by Country
      13.2.1 Brazil
      13.2.2 Mexico
      13.2.3 Rest of Latin America (LATAM)
   13.3 Basis Point Share (BPS) Analysis by Country
   13.4 Absolute $ Opportunity Assessment by Country
   13.5 Market Attractiveness Analysis by Country
   13.6 Latin America Tunnel Boring Machine (TBM) Market Size Forecast By Type
      13.6.1 Soft Ground TBMs
      13.6.2 Hard Rock TBMs
      13.6.3 Others
   13.7 Basis Point Share (BPS) Analysis By Type
   13.8 Absolute $ Opportunity Assessment By Type
   13.9 Market Attractiveness Analysis By Type
   13.10 Latin America Tunnel Boring Machine (TBM) Market Size Forecast By Application
      13.10.1 City Rail Systems
      13.10.2 Railway and Highway
      13.10.3 Municipal Engineering
      13.10.4 Others
   13.11 Basis Point Share (BPS) Analysis By Application
   13.12 Absolute $ Opportunity Assessment By Application
   13.13 Market Attractiveness Analysis By Application
   13.14 Latin America Tunnel Boring Machine (TBM) Market Size Forecast By Sales channel
      13.14.1 Direct Sales
      13.14.2 Indirect Sales
   13.15 Basis Point Share (BPS) Analysis By Sales channel
   13.16 Absolute $ Opportunity Assessment By Sales channel
   13.17 Market Attractiveness Analysis By Sales channel
Chapter 14 Middle East & Africa (MEA) Tunnel Boring Machine (TBM) Analysis and Forecast
   14.1 Introduction
   14.2 Middle East & Africa (MEA) Tunnel Boring Machine (TBM) Market Size Forecast by Country
      14.2.1 Saudi Arabia
      14.2.2 South Africa
      14.2.3 UAE
      14.2.4 Rest of Middle East & Africa (MEA)
   14.3 Basis Point Share (BPS) Analysis by Country
   14.4 Absolute $ Opportunity Assessment by Country
   14.5 Market Attractiveness Analysis by Country
   14.6 Middle East & Africa (MEA) Tunnel Boring Machine (TBM) Market Size Forecast By Type
      14.6.1 Soft Ground TBMs
      14.6.2 Hard Rock TBMs
      14.6.3 Others
   14.7 Basis Point Share (BPS) Analysis By Type
   14.8 Absolute $ Opportunity Assessment By Type
   14.9 Market Attractiveness Analysis By Type
   14.10 Middle East & Africa (MEA) Tunnel Boring Machine (TBM) Market Size Forecast By Application
      14.10.1 City Rail Systems
      14.10.2 Railway and Highway
      14.10.3 Municipal Engineering
      14.10.4 Others
   14.11 Basis Point Share (BPS) Analysis By Application
   14.12 Absolute $ Opportunity Assessment By Application
   14.13 Market Attractiveness Analysis By Application
   14.14 Middle East & Africa (MEA) Tunnel Boring Machine (TBM) Market Size Forecast By Sales channel
      14.14.1 Direct Sales
      14.14.2 Indirect Sales
   14.15 Basis Point Share (BPS) Analysis By Sales channel
   14.16 Absolute $ Opportunity Assessment By Sales channel
   14.17 Market Attractiveness Analysis By Sales channel
Chapter 15 Competition Landscape
   15.1 Tunnel Boring Machine (TBM) Market: Competitive Dashboard
   15.2 Global Tunnel Boring Machine (TBM) Market: Market Share Analysis, 2020
   15.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
      15.3.1 China Railway Construction Heavy Industry Co., Ltd.
      15.3.2 DALIAN HUARUI HEAVY INDUSTRY GROUP CO., LTD
      15.3.3 Herrenknecht AG
      15.3.4 Liaoning Censcience Industry Co., Ltd
      15.3.5 Komatsu
      15.3.6 Robbins
      15.3.7 Normet
      15.3.8 E-Berk Tunneling & Foundation Technologies
      15.3.9 EM Korea
      15.3.10 China Railway Engineering Equipment Group Co., Ltd.
      15.3.11 Kawasaki Heavy Industries, Ltd
      15.3.12 IHI Corporation
      15.3.13 TERRATEC Ltd.
      15.3.14 Hitachi Zosen Corporation
      15.3.15 JIM TECHNOLOGY CORPORATION
      15.3.16 Xiamen Xiagong Machinery Co., Ltd.

Key Segments Covered

By Types

  • Soft Ground TBMs
  • Hard Rock TBMs
  • Others
By Application
  • City Rail Systems
  • Railway and Highway
  • Municipal Engineering
  • Others
By Sales Channel
  • Direct Sales
  • Indirect Sales
By Regions
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa
Key Market Players Profiled in the Report
  • China Railway Construction Heavy Industry Co., Ltd.
  • DALIAN HUARUI HEAVY INDUSTRY GROUP CO., LTD
  • Herrenknecht AG
  • Liaoning Censcience Industry Co., Ltd
  • Komatsu
  • Robbins
  • Normet
  • E-Berk Tunneling & Foundation Technologies
  • EM Korea
  • China Railway Engineering Equipment Group Co., Ltd.
  • Kawasaki Heavy Industries, Ltd
  • IHI Corporation
  • TERRATEC Ltd.
  • Hitachi Zosen Corporation
  • JIM TECHNOLOGY CORPORATION
  • Xiamen Xiagong Machinery Co., Ltd.
  • Tunnel Engineering Services (UK) Ltd
  • Akkerman
  • Sika AG
  • Yangzhou Dilong Machinery Co., Ltd.
  • Top players in the market include 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, and Others.
  • These companies are considered as key manufacturers of piezoelectric element based on their revenue, product offerings, regional presence, and supply chain management system.
  • The players are adopting key strategies such as acquisition, collaborations, and geographical expansion where potential opportunity for the Tunnel Boring Machine (TBM) market.
Tunnel Boring Machine (TBM) Market by key players

Buy Report

FAQ Section

Some frequently asked quetions about this report!

Additional company profiles can be provided on request

According to this Growth Market Reports report, the Tunnel Boring Machine (TBM) market is likely to register a CAGR of 5.2% during forecast period 2020-2027, with an anticipated valuation of USD 9,337.8 Mn by the end of the 2028.

In addition to market size (in US$ Million), Company Market Share (in % for base year 2019), and quality parameter overview is provided.

Factors such as competitive strength and market positioning are key areas considered while selecting top companies to be profiled.

Increasing Expenditure on Road And Railway Infrastructure and Rising Disposable Income Across the World Supports Various Projects are expected to act as a driving force for the market during forecast period.

The major applications of Tunnel Boring Machine (TBM) are City Rail Systems, Railway and Highway, Municipal Engineering, and Others.

The market is expected to witness a significant decrease in growth between 2019 and 2020 owing to the COVID 19 pandemic on the Tunnel Boring Machine (TBM) market.

The base year considered for the global Tunnel Boring Machine (TBM) market report is 2020. The complete analysis period is 2018 to 2028, wherein, 2018, and 2019 are the historic years, and the forecast is provided from 2021 to 2028.

Factors such as growth of Construction Industry, R&D Activities in Various Industries, Industrial Outlook, Technological Innovations, and Economic Growth are expected to act as a driving force for the market.

Major Manufacturers 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, and Others.