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Tunnel Boring Machine Market Report by Machine Type (Slurry TBM, Earth Pressure Balance Shield TBM, Shielded TBM, Multi-Mode TBM, and Others), Product Type (Soft Ground TBM, Hard Ground TBM), Application (Traffic Tunneling, Utility Tunneling), End User (Road Transport, Railway Transport, Metro and Transit, Utilities, Mining, Oil and Gas, and Others), and Region 2024-2032
Report Format: PDF+Excel | Report ID: SR112024A5698
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Market Overview:
The global tunnel boring machine market size reached US$ 5.8 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 8.0 Billion by 2032, exhibiting a growth rate (CAGR) of 3.62% during 2024-2032.
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Report Attribute
|
Key Statistics |
|---|---|
|
Base Year
|
2023
|
|
Forecast Years
|
2024-2032
|
|
Historical Years
|
2018-2023
|
| Market Size in 2023 | US$ 5.8 Billion |
| Market Forecast in 2032 | US$ 8.0 Billion |
| Market Growth Rate 2024-2032 | 3.62% |
A tunnel boring machine (TBM) is advanced equipment that helps excavate tunnels with a circular cross-section through various soil and rock strata. It is an alternative to the drilling and blasting (D&B) method and conventional hand mining of soil. It reduces the disturbance caused to the surrounding ground and produces a smooth tunnel wall. In addition, it minimizes the cost of lining the tunnel and makes the tunnel suitable for use in heavily urbanized areas. It also offers several advantages, including continuous operation, lesser rock damages, fewer support requirements, and higher efficiency and worker safety.
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Tunnel Boring Machine Market Trends:
The increasing utilization of TBMs in the mining industry, along with new innovations in rock cutting technology, represents one of the key factors driving the market. In addition, governments of several countries are extensively investing in infrastructural development like highways. This, along with the extensive application of TBMs in the water pipeline, hydropower, and oil and gas pipeline projects, is positively influencing the market. Besides this, the growing tunnel safety regulations and improving underground infrastructure around the world are contributing to the growth of the market. Additionally, rising awareness about the advantages of TBMs, such as high specific gravity and viscosity, and stability under high pressure, is propelling the overall sales of TBMs. Some of the other factors offering lucrative growth opportunities to market players are rapid urbanization, increasing development of smart cities, and the growing trend of tunnel automation. These players are also focusing on microtunnel activities to construct several kilometers of underground infrastructure worldwide to increase their overall sales and profitability, which is projected to strengthen the growth of the market.
Note: Information in the above chart consists of dummy data and is only shown here for representation purpose. Kindly contact us for the actual market size and trends.
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Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global tunnel boring machine market report, along with forecasts at the global, regional and country level from 2024-2032. Our report has categorized the market based on machine type, product type, application and end user.
Breakup by Machine Type:
Note: Information in the above chart consists of dummy data and is only shown here for representation purpose. Kindly contact us for the actual market size and trends.
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- Slurry TBM
- Earth Pressure Balance Shield TBM
- Shielded TBM
- Multi-Mode TBM
- Others
Breakup by Product Type:
- Soft Ground TBM
- Hard Ground TBM
Breakup by Application:
- Traffic Tunneling
- Utility Tunneling
Breakup by End User:
- Road Transport
- Railway Transport
- Metro and Transit
- Utilities
- Mining
- Oil and Gas
- Others
Breakup by Region:
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- North America
- United States
- Canada
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being Akkerman Inc., China Railway Construction Heavy Industry Corporation Limited, China Railway Engineering Equipment Group Co. Ltd. (China Railway Hi-Tech Industry Corporation Limited), Dalian Huarui Heavy Industry Group Co. Ltd., Herrenknecht AG, Hitachi Zosen Corporation, IHI Corporation, Kawasaki Heavy Industries Ltd., Komatsu Ltd., Northern Heavy Industries Group Co. Ltd. and Sika AG.
Report Coverage:
| Report Features | Details |
|---|---|
| Base Year of the Analysis | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Units | US$ Billion |
| Segment Coverage | Machine Type, Product Type, Application, End User, Region |
| Region Covered | Asia Pacific, Europe, North America, Latin America, Middle East and Africa |
| Countries Covered | United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico |
| Companies Covered | Akkerman Inc., China Railway Construction Heavy Industry Corporation Limited, China Railway Engineering Equipment Group Co. Ltd. (China Railway Hi-Tech Industry Corporation Limited), Dalian Huarui Heavy Industry Group Co. Ltd., Herrenknecht AG, Hitachi Zosen Corporation, IHI Corporation, Kawasaki Heavy Industries Ltd., Komatsu Ltd., Northern Heavy Industries Group Co. Ltd. and Sika AG |
| Customization Scope | 10% Free Customization |
| Report Price and Purchase Option | Single User License: US$ 3899 Five User License: US$ 4899 Corporate License: US$ 5899 |
| Post-Sale Analyst Support | 10-12 Weeks |
| Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
The global tunnel boring machine market was valued at US$ 5.8 Billion in 2023.
We expect the global tunnel boring machine market to exhibit a CAGR of 3.62% during2024-2032.
The rising utilization of tunnel boring machines in the water pipeline, hydropower, and oil and gas pipeline projects, as they offer several advantages, such as continuous operation, lesser rock damages, higher efficiency and worker safety, etc., is primarily driving the global tunnel boring machine market.
The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across several nations, resulting in the temporary closure of numerous end-use industries for tunnel boring machines.
Based on the machine type, the global tunnel boring machine market has been divided into slurry TBM, earth pressure balance shield TBM, shielded TBM, multi-mode TBM, and others. Among these, slurry TBM currently exhibits a clear dominance in the market.
Based on the product type, the global tunnel boring machine market can be categorized into soft ground TBM and hard ground TBM. Currently, hard ground TBM accounts for the majority of the global market share.
Based on the application, the global tunnel boring machine market has been segregated into traffic tunneling and utility tunneling, where traffic tunneling currently exhibits a clear dominance in the market.
Based on the end user, the global tunnel boring machine market can be bifurcated into road transport, railway transport, metro and transit, utilities, mining, oil and gas, and others. Currently, metro and transit holds the largest market share.
On a regional level, the market has been classified into North America, Asia-Pacific, Europe, Latin America, and Middle East and Africa, where Asia-Pacific currently dominates the global market.
Some of the major players in the global tunnel boring machine market include Akkerman Inc., China Railway Construction Heavy Industry Corporation Limited, China Railway Engineering Equipment Group Co. Ltd. (China Railway Hi-Tech Industry Corporation Limited), Dalian Huarui Heavy Industry Group Co. Ltd., Herrenknecht AG, Hitachi Zosen Corporation, IHI Corporation, Kawasaki Heavy Industries Ltd., Komatsu Ltd., Northern Heavy Industries Group Co. Ltd., and Sika AG.
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