Tunnel Boring Machine Market Research Report - Global Forecast till 2027

Global Tunnel Boring Machine Market Research Report: Information By Machine Type (Slurry TBM, Earth Pressure Balance Shield TBM, Shielded TBM, Multi-Mode TBM and Other Machines), Geology Type (Soft Ground, Hard Rock Ground, Heterogeneous Ground and Variable Ground), End Users (Road Transport, Railway Transport, Utilities, Metro and Transit, Mining, Oil and Gas and Others) and Region - Forecast till 2027

ID: MRFR/AM/8740-CR | August 2020 | Region: Global | 166 pages

Please note that the assessment period of report has been updated from (2018-2025) to 2020-2027. Cordially fill the sample form for updated data.

Market Overview


The machines which are mainly used for creating tunnels for pipelines, roads, and railways are generally by the name tunnel boring machines. They are also known as massive specific-function machines. They are generally used for assisting in boring round holes with circular cross-sections in any kind of rocks and soil. These machines are assembled with a complicated system that works in the combination with each other. There are various kinds of tunnel boring machines with varying diameters ranging from three feet to sixty-five feet. In the modern era, these are commonly used for finishing through rocks and for catering smooth cuts which further helps in constructing concrete shields.


The tunnel boring machine market in the global market is expected to grow at a high CAGR of 5.6% to account for a high market value by the end of the forecasted period from 2017 to 2025.


COVID 19 Analysis


This situation of the global pandemic of COVID 19 has affected the lives of the people along with their businesses in the worst case possible. Now, one has to deal with health issues and handle the financial crises simultaneously. This global pandemic situation has pushed the economies into forced recession. Owing to the lockdown period and post lockdown period, various manufacturing units of tunnel boring machines were shut down which results in a steep downfall of revenue and hence fewer profit margins.


It is expected that the tunnel boring machine market will recover from this global pandemic situation by the end of the first quarter and the beginning of the second quarter in the coming year during the forecasted period.


Market Dynamics


Drivers


The tunnel boring machine market is increasing at a high pace in the global market owing to increasing regulations and rules enforced by governments of various emerging companies regarding the construction of networked rail and road infrastructure and their related projects and hence driving the tunnel boring machine industry. Another factor that drives the tunnel boring machine market is the increasing focus towards micro tunneling, where the large tunnels cannot be constructed.


Opportunities


The tunnel boring machine market has a highly bifurcated market owing to the presence of a higher number of competitive market players all across the globe which provides growth opportunities to the market in the global market during the forecasted period. Also, the growing rail infrastructure development all across the Asia-Pacific region provides growth opportunities during the forecasted period.


Restraints


The tunnel boring machine market is increasing its market share at an alarming rate but some factors restrain its growth like the high initial cost that occurs in the tunnel boring process and hence restricts the growth of tunnel boring machine. Also, these kinds of huge costs are usually done by the government as an investment which is not done repeatedly as a result restricts the growth of the tunnel boring machine industry. The lack of advanced technology in many underdeveloped countries also restrains the growth of the market in the global market.


Value Chain Analysis


The market is growing at a tremendous rate owing to various benefits associated with it which creates the value for tunnel boring machine in the society as tunnel boring machines helps in continuous operations for giant work plans which further increases the advance rate. Boring done with these tunnel boring machines leads to fewer rock damages when compared with drilling machines. It also ensures higher worker safety of workers at the working sites. Also, it doesn’t require any huge support system for its operations.


Market Segmentation


The market for tunnel boring machine has been divided based on the machine type, geology type, and end-users.


Based on the Machine Type


The market has been divided based on the machine type into earth pressure balance shield tunnel boring machine, slurry tunnel boring machine, shielded tunnel boring machine, multi-mode tunnel boring machine, and many other machines. The slurry tunnel boring machine has the largest market share in the global market.


Based on the Geology Type


The tunnel boring machine industry has been divided based on the geology type into hard rock ground, soft ground, variable ground, and heterogeneous ground. The soft ground holds the largest market share in the global market.


Based on the End-Users


The tunnel boring machine industry has been divided based on the end-users into railway transport, utility sector, metro and transit sector, mining sector, road transport sector, oil, and gas sector, and many others. The road transport sector holds the largest market share in the global market.


Regional Analysis


The tunnel boring machine market in the global market has been divided based on the regions into Europe region, Asia-Pacific region, North America region, South America region, the Middle East and the Africa region, and the rest of the world. The largest share in the tunnel boring market is held by the Asia-Pacific region owing to an increase in tunnel projects and increasing expenditure on the infrastructure mainly in road and rail networks in the country like China and India. South Korea is another country that has the largest tunnel roads.


The second-largest share in the tunnel boring machine market is held by the Europe region owing to the presence of  Lee and Thames Tideway tunnels along with the Crossrail which is amongst the eight tunnel boring machines in London. These machines can dig up to 50 meters with an external diameter of about 7 meters and weighing about 1000 tons underground factories on rails.


Competitive Landscape


The most prominent market key players in the market are following:



  • China Railway Group Limited (CRGL)

  • China Railway Construction Heavy Industry Co. Ltd.

  • China Railway Engineering Equipment Group Co. Ltd.

  • Dalian Huarui Heavy Industry Group Co. Ltd

  • Herrenknecht AG

  • Komatsu Ltd.

  • IHI Corporation

  • Northern Heavy Industries Group Co. Ltd. (The Robbins Company, Inc.)

  • Qinhuangdao Tianye Tolian Heavy Industry Co. Ltd.

  • Kawasaki Heavy Industries Ltd.

  • Hitachi Zosen Corporation

  • Bosch Rexroth AG


These most prominent market players use various strategies and policies for increasing the customer base in the potential market all across the globe by doing mergers and acquisitions, collaborations, product development, innovation in the production process, partnership, and many other innovative techniques that further helps in sustaining the position in the global market.


Recent Developments



  • In July 2019, for increasing the infrastructure of railways and roadways, the Italian government decided to do an expenditure of USD 33.79 billion for the railway infrastructure project.

  • In 2017, China has become the world’s largest tunnel boring machine as all the other tunnel boring machine manufacturers of the international market has incorporated Chinese companies and has a total production of about 64% in the total production.

  • The tunnel boring machine industry is expected to grow more during the forecasted period owing to increasing expenditure on pipelines for oils and gas, water supply and disposal, and hydropower projects and hence growing adoption of the tunnel boring machine market.

  • In 2019, it is expected that the Asia-Pacific region will be the highest contributor and hence holds the leading position in the tunnel boring machine market during the forecasted period.

  • In June 2018, in India, along Mumbai Metro-III corridor of about 33.50 km has been constructed in Mumbai which is the first tunnel boring machine industry in Mumbai, India.


Report Overview


This global tunnel boring machine market research report consists of the following elements:



  • Market Overview

  • COVID 19 Analysis

  • Market Dynamics

  • Value Chain Analysis

  • Market Segmentation

  • Regional Analysis

  • Competitive Landscape

  • Recent Developments


This global tunnel boring machine market research report contains various factors that drive the tunnel boring machine industry along with some factors that restrain the growth of the tunnel boring machine market in the global market. This report also contains various growth opportunities in the global market during the forecasted period. The impact of COVID 19 is also mentioned along with the regional diversification of the market. The future growth rate is also estimated and mentioned. An in-depth market study was done to make this report and all the forecasted data can be used to access the market.



Report Scope:
Report Attribute/Metric Details
  Market Size   2027: Significant Value
  CAGR   5.6% (2020-2027)
  Base Year   2019
  Forecast Period   2020-2027
  Historical Data   2018
  Forecast Units   Value (USD Million)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   Machine Type, Geology Type, End Users
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   China Railway Group Limited (CRGL), IHI Corporation, Kawasaki Heavy Industries Ltd, Hitachi Zosen Corporation, Bosch Rexroth AG
  Key Market Opportunities   • Lack of Advanced Technology in Many Underdeveloped Countries
  Key Market Drivers

  • Increasing Regulations and Rules Enforced by Governments of Various Emerging Companies Regarding the Construction of Networked Rail and Road Infrastructure and Their Related Projects
  • Increasing Focus Towards Micro Tunneling\r\n


  • Frequently Asked Questions (FAQ) :


    The global tunnel boring machine market is expected to grow at 5.6% CAGR from 2019 to 2025.

    The slurry tunnel boring machine can dominate the global tunnel boring machine market.

    The road transport segment can lead in the global tunnel boring machine market.

    Asia Pacific can lead in the global tunnel boring machine market.

    IHI CORP., Northern Heavy Industries Group Co., Ltd, Hitachi Zosen Corporation, Dalian Huarui Heavy Industry Group Co., Ltd, Komatsu Ltd, BOSCH REXROTH AG, HERRENKNECHT AG, Kawasaki Heavy Indutries Ltd, and China Railway Group Limited are prominent players of the global tunnel boring machine market.

    Road transport holds the largest share in the tunnel boring machine market in the global market.