Tunnel Boring Machine Market Size, Share, Trends, Analysis To 2032

Tunnel Boring Machine Market Insights

According to the report published by Zion Market Research, The Global Tunnel Boring Machine Market was valued at USD 5.93 Billion in 2023 and is predicted to reach USD 9.21 Billion by the end of 2032. The market is expected to grow with a CAGR of 5.14% during the forecast period.

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This study provides an analysis of the growth drivers, growth restrictions, and influence on demand that are associated with the Global Tunnel Boring Machine Market over the time of forecasting. Additionally, it will assist in navigating and investigating the possibilities that are becoming available in the Tunnel Boring Machine Market market.

Global Tunnel Boring Machine Market: Overview

Tunnel boring machines (TBM), also known as moles, are primarily used for tunnel digging through numerous rocks and soil layers with a circular cross-section. Tunnel boring machines offer a better alternative to blasting and drilling methods for rock as well as conventional soil mining. Tunnel boring machine are getting more attention due to its advantages over other mining techniques,

The ground disturbance level produced by TBM is comparatively low, and it also produces precise and smooth tunnel wall in less time. With the rise in the global construction and mining sector, the demand for efficient mining techniques is increasing at a significant rate.

Global Tunnel Boring Machine Market: Growth Factors

The global tunnel boring machine market is growing at a healthy rate. Factors contributing to the growth of the market include a rise in the global construction sector, an increase in highway construction, the mining sector, and microtunnel works. Tunnel boring with the drilling and blasting technique can disturb the surrounding ground surface by damaging the soil base during the blast. Furthermore, the debris generated during the blasting adds more cost and time to the project to remove it; this is where the importance of TBM increases.

TBM is efficient enough to perform mining work with precision and produce smooth tunnels; this factor significantly reduces the cost and shortens the time required to complete the project. On the other hand, TBMs are difficult to build. Additionally, the high cost associated with the instruments and maintenance may hamper the growth of the global tunnel boring machine market over the forecast period. However, growing urbanization and rise in government mining project in developing nations are expected to provide ample growth opportunities for market growth during the forecast period.

COVID-19 pandemic situation has severely hampered the growth of the global tunnel boring machine market. Strict lockdowns imposed by several governments to control the spread of the infection has halted many projects around the world. Additionally, restrictions on personnel movement reduced the number of workers at product units.

This has majorly impacted the manufacturing of new tunnel boring machines. Moreover, disruption of the supply chain is also observed to play a major role in restricting market growth, as it causes a shortage of raw materials in the market that are required for the manufacturing of TBMs. However, to stop the economic fall, many governments have permitted the manufacturing process to resume, so the demand for TBMs is expected to rise over the forecast period.

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Global Tunnel Boring Machine Market: Segmentation

The global tunnel boring machine market is bifurcated based on geology type, machine type, end-users, and region.

Based on the geology type, the global tunnel boring machine market is split into soft ground, heterogeneous ground, hard rock ground, and variable ground.

Based on machine type, the global tunnel boring machine market is categorized into slurry TBM, shielded TBM, multi-mode TBM, earth pressure balance shield TBM, and others.

The end-user segment is bifurcated into road transport, metro & transit, railway transport, utilities, oil & gas, and others.

With the rapid urbanization and growing demand for the expansion of national highways, the road transport segment is expected to register the highest growth during the forecast period.

Tunnel Boring Machine Market: Report Scope

Global Tunnel Boring Machine Market: Regional Analysis

Asia Pacific is expected to dominate the global tunnel boring machine market over the forecast period. Factors such as growing investments in infrastructure, rapid expansion of rail, road network, & varied geographic conditions in this region are contributing to the growth of the tunnel boring machine market in this region. Countries such as China, India, and Japan are expected to generate the largest revenue in the Asia Pacific region. Europe is expected to remain the second-highest market over the forecast period. The high demand for TBMs in the hilly terrain in France, Spain, and Italy is expected to contribute to the growth of the market in Europe.

Global Tunnel Boring Machine Market: Competitive Players

Some of the strategic players operating in the global tunnel boring machine market are

• Herrenknecht AG
• IHI Corporation
• Mitsubishi Heavy Industries, Ltd.
• Komatsu Ltd.
• The Robbins Company
• Hitachi Zosen Corporation
• Kawasaki Heavy Industries, Ltd.
• Terratec Ltd.
• among others.

The Global Tunnel Boring Machine Market is segmented as follows:

By Geology Type 

• soft ground
• heterogeneous ground
• hard rock ground
• variable ground.

Machine Type

• slurry TBM
• shielded TBM
• multi-mode TBM
• earth pressure balance shield TBM
• others.

By End-User

• road transport
• metro & transit
• railway transport
• utilities
• oil & gas
• others.

Global Tunnel Boring Machine Market: Regional Segment Analysis

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa

What Reports Provide

• Full in-depth analysis of the parent market
• Important changes in market dynamics
• Segmentation details of the market
• Former, on-going, and projected market analysis in terms of volume and value
• Assessment of niche industry developments
• Market share analysis
• Key strategies of major players
• Emerging segments and regional markets
• Testimonies to companies in order to fortify their foothold in the market.