Consumer Insights
Uncover trends and behaviors shaping consumer choices today
Procurement Insights
Optimize your sourcing strategy with key market data
Industry Stats
Stay ahead with the latest trends and market analysis.
Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Global Tunnel Boring Machine Market Outlook
The global tunnel boring machine market stood at a value of around USD 6,652.44 million in 2023. The market is further expected to grow at a CAGR of 6% in the forecast period of 2024-2032 to attain USD 11,239.16 million by 2032.
Read more about this report - REQUEST FREE SAMPLE COPY IN PDF
Growing Awareness about the Advantages of Slurry Type TBM to Bolster the Growth of the Tunnel Boring Machine Industry
Based on machine type, slurry TBM accounts for a significant share in the market, owing to the growing awareness about the various advantages of this type, including high specific gravity and high viscosity, which pressure controls the cutting face, resulting in stability that is obtained even under high pressure. The diameter of slurry TBM is high, making it ideal for high-magnitude excavation. Meanwhile, the shielded TBM segment is anticipated to grow at a significant rate in the forecast period, owing to its suitability for a broad range of ground conditions. The shielded TBM can work efficiently in between tough rocks, soft strata, and fractured zones, among others. The product secures a large internal space, which enables safety maintenance and facilitates efficiency in operations.
The Asia Pacific Accounts for a Significant Share in the Market
The Asia Pacific is anticipated to be a significant region contributing to the growth of the market. This can be attributed to the increasing tunnel construction projects in countries like India, China, and South Korea, among others. Further, the market is expected to be aided by the increasing government investments towards the improvement of road and rail networks. A surge in government investments in tunnel projects to bolster the commutation between major cities is expected to aid the regional market.
Tunnel Boring Machine: Market Segmentation
A tunnel boring machine, also referred to as a mole, is a machine designed to excavate tunnels. The machine can carry out deep underground excavations, or can even excavate tunnels with a highly specific circular cross-section and sharp curves.
Read more about this report - REQUEST FREE SAMPLE COPY IN PDF
Based on machine type, the market is divided into:
- Slurry TBM
- Earth Pressure Balance Shield TBM
- Shielded TBM
- Multi-mode TBM
- Other Machines
On the basis of geology type, the industry is segmented into:
- Soft Ground
- Hard Rock Ground
- Heterogenous Ground
- Variable Ground
The significant end use of the product include:
- Road Transport
- Railway Transport
- Metro and Transit
- Utilities
- Mining
- Oil and Gas
- Others
The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
Read more about this report - REQUEST FREE SAMPLE COPY IN PDF
Rapid Development of Road and Railway Tunnels, Particularly in Emerging Nations, to Boost the Growth of the Tunnel Boring Machine Industry
The global tunnel boring machine industry is driven by the rapid urbanisation and industrialisation and the growing use of the product to develop road and railway tunnels. The increasing government expenditure towards the development of road and railway networks in emerging economies to enhance the convenience of the working class is aiding the industry growth. In addition, the rising travel and tourism sector in various countries is expected to be a significant factor driving the market growth. Over the forecast period, the increasing underground mining operations in developing countries are expected to provide a further impetus to the market.
Key Industry Players in the Global Tunnel Boring Machine Market
The report gives a detailed analysis of the following key players in the global tunnel boring machine market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
- Komatsu Ltd.
- China Railway Engineering Equipment Group Co., Ltd.
- Herrenknecht AG
- Hitachi Zosen Corporation
- Kawasaki Heavy Industries, Ltd.
- Others
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
|
| Breakup by Machine Type |
|
| Breakup by Geology Type |
|
| Breakup by End Use |
|
| Breakup by Region |
|
| Market Dynamics |
|
| Competitive Landscape |
|
| Companies Covered |
|
| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
Looking for specific insights?
Get in touch with us for a customized solution tailored to your unique requirements and save upto 35%!
Key Questions Answered in the Report
In 2023, the global tunnel boring machine market attained a value of nearly USD 6,652.44 million.
The market is estimated to grow at a CAGR of 6% between 2024 and 2032.
The major drivers of the market include the rising awareness regarding the benefits of boring machines, the increasing government expenditure to develop road and railway networks, and the growing mining activities.
The key trends propelling the market demand include advancements in tunnelling technology, the increasing underground mining operations, and rapid urbanisation.
The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The major machine types considered in the market report are slurry TBM, earth pressure balance shield TBM, shielded TBM, and multi-mode TBM, among other machines.
Soft ground, hard rock ground, heterogenous ground, and variable ground are the various segments based on the geology types considered in the market report.
Road transport, railway transport, metro and transit, utilities, mining, and oil and gas, among others, are the significant end uses of the product.
The key players in the tunnel boring machine market are Komatsu Ltd., China Railway Engineering Equipment Group Co., Ltd., Herrenknecht AG, Hitachi Zosen Corporation, and Kawasaki Heavy Industries, Ltd., among others.
Purchase Full Report
Datasheet
- Selected Sections, One User
- Printing Not Allowed
- Email Delivery in PDF
Free Limited CustomisationPost Sales Analyst Support50% Discount on Next Update
Single User License
One User
- All Sections, One User
- One Print Allowed
- Email Delivery in PDF
Free Limited CustomisationPost Sales Analyst Support50% Discount on Next Update
Five User License
Five Users
- All Sections, Five Users
- Five Prints Allowed
- Email Delivery in PDF
- Free Limited Customisation
- Post Sales Analyst Support
50% Discount on Next Update
Corporate License
Unlimited Users
- All Sections, Unlimited Users
- Unlimited Prints Allowed
- Email Delivery in PDF + Excel
- Free Limited Customisation
- Post Sales Analyst Support
- 50% Discount on Next Update
How To Order
Our step-by-step guide will help you select, purchase, and access your reports swiftly, ensuring you get the information that drives your decisions, right when you need it.
Select License Type
Choose the right license for your needs and access rights.
Click on ‘Buy Now’
Add the report to your cart with one click and proceed to register.
Select Mode of Payment
Choose a payment option for a secure checkout. You will be redirected accordingly.
Gain insights to stay ahead and seize opportunities.
Get insights & trends for a competitive edge.
Track prices with detailed trend reports.
Analyse trade data for supply chain insights.
Leverage cost reports for smart savings
Enhance supply chain with partnerships.
Connect For More Information
Our expert team of analysts will offer full support and resolve any queries regarding the report, before and after the purchase.
Our expert team of analysts will offer full support and resolve any queries regarding the report, before and after the purchase.
We employ meticulous research methods, blending advanced analytics and expert insights to deliver accurate, actionable industry intelligence, staying ahead of competitors.
Our skilled analysts offer unparalleled competitive advantage with detailed insights on current and emerging markets, ensuring your strategic edge.
We offer an in-depth yet simplified presentation of industry insights and analysis to meet your specific requirements effectively.
Subscribe to our Newsletter
By subscribing you agree to with our privacy policy and provide
consent to
receive
updates
from our company.
Our Offices
United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61 448 06 17 27
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City,1226.
+63 287899028, +63 967 048 3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84865399124