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2020

Tunnel Boring Machine Market

Tunnel Boring Machine Market Size, Share, Competitive Landscape and Trend Analysis Report by Machine Type, Geology Type and End User : Global Opportunity Analysis and Industry Forecast, 2020-2027

CM : Engineering, Equipment and Machinery

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Author's: Amol Phoke| Amar Chinchane | Sonia Mutreja
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Tunnel Boring Machine Market Outlook - 2027

The global tunnel boring machine market size was valued $5,476.0 million in 2019 and is expected to reach $7,552.1 million by 2027, growing at a CAGR of 6.0% from 2020 to 2027. Tunnel boring machine is used for tunnel excavation through a various range of rocks and soils. These machines are majorly used for the construction of excavation of coal mines and tunnels.

An increase in infrastructure in the railway and road highways is projected to drives the growth of the tunnel boring machine market. In addition, government investment in railway pipeline projects is projected to cater the tunnel boring machine market growth. For instance, in July 2019, the Italian government spent $33.79 billion on a railway infrastructure project. Tunnel boring machine is used for the water pipeline project, hydropower project, and pipelines for oil & gas, and other projects, which in turn increases the demand for tunnel boring machine. An increase in rapid urbanization and industrialization among developing countries such as India, China, and others are projected to boost the tunnel boring machine market growth. 

Tunnel-Boring-Machine-Market-2020-2027

Tunnel boring machine manufacturers focus on micro-tunneling activities. This is projected to surge the demand for tunnel boring machines, which is anticipated to drive the growth of the tunnel boring machine market. Moreover, the increase in adoption of tunnel boring machines, in the mining industry, is projected to cater to the growth of the tunnel boring machine market. 

However, high investment cost and lack of flexibility are the factors anticipated to hamper the growth of the tunnel boring machine market. In addition, fluctuation in raw material prices is projected to hamper the growth of the global tunnel boring machine market. For instance, in February 2020, the U.S. administration increased tariffs on variable steel and aluminum imports. This range increase includes 10% surge in aluminum imports, and a 25% rise in steel imports, which have negatively affected the U.S. manufacturing sector, and, in turn, the overall economy of the country. Furthermore, technological advancements in the tunnel boring machine with automation, and rock cutting technology are projected to provide lucrative opportunities for the growth of the tunnel boring machine market. 

Tunnel Boring Machine Market
By Machine Type
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Slurry TBM segment holds dominant position in 2019

The novel coronavirus has rapidly spread across various countries and regions and continues to spread, causing an enormous impact on the overall community, and lives of people. Originating as a crisis to human health, it now poses a significant threat to worldwide trade, economy, and finance. In addition, owing to the COVID-19 pandemic, major players are facing growing business concerns associated with coronavirus outbreaks, supply chain disruption, and a possible less in consumer spending. Further, in 2017, according to international manufacturers of the tunnel boring machines have incorporated Chinese companies, and China has become the world’s largest tunnel boring machine, which occupied around 64% of the total production.  

The global tunnel boring machine market is segmented on the basis of machine type, geology type, end user, and region. By machine type, the market is divided into slurry TBM, earth pressure balance shield TBM, shielded TBM, Multi-Mode TBM, and others. Slurry TBM segment generated the highest revenue in 2019. By geology type, the tunnel boring machine market is divided into soft ground, hard rock ground, heterogeneous ground, and variable ground. The heterogenous ground segment generated the highest revenue in 2019. By end user, the market is categorized into road transport, railway transport, metro & transit, utilities, mining, oil & gas, and others. metro & transit segment generated the highest revenue in 2019. 

Tunnel Boring Machine Market
By End-users
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Metro & Transit segment holds dominant position in 2019

Region wise, the global tunnel boring machine market analysis is conducted across North America (U.S., Canada, and Mexico), Europe (UK, Netherland, Russia, France, Germany, Italy, and rest of Europe), Asia-Pacific (China, Japan, Australia, Indonesia, India, and rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa). In 2019, Asia-Pacific was the highest contributor to the tunnel boring machine market share, and is anticipated to secure a leading position during the forecast period.

Competition Analysis

Key companies profiled in the tunnel boring machine market report include China Railway Construction Heavy Industry Co. Ltd., China Railway Engineering Equipment Group Co., Ltd., 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. (The Robbins Company, Inc.), Qinhuangdao Tianye Tolian Heavy Industry Co., Ltd. 

Tunnel Boring Machine Market
By Region
2027
Asia-pacific 
North America
Europe
LAMEA

Asia-Pacific is expected to grow at a highest rate during the forecast period.

Key Benefits For Stakeholders

  • The report provides an extensive analysis of the current and emerging tunnel boring machine market trends and dynamics.  
  • In-depth market analysis is conducted by a tunnel boring machine market estimations for the key market segments between 2019 and 2027. 
  • Extensive analysis of the tunnel boring machine market is conducted by following key product positioning and monitoring of the top competitors within the market framework.
  • A comprehensive analysis of all the regions is provided to determine the prevailing opportunities.
  • The global tunnel boring machine market forecast analysis from 2020 to 2027 is included in the report.
  • The key market players within tunnel boring machine market are profiled in this report and their strategies are analyzed thoroughly, which help understand the competitive outlook of the tunnel boring machine market.

Global Tunnel Boring Machine Market Segments

By Machine Type

  • Slurry TBM
  • Earth Pressure Balance Shield TBM
  • Shielded TBM
  • Multi-Mode TBM
  • Others

By Geology Type

  • Soft Ground
  • Hard Rock Ground
  • Heterogenous Ground
  • Variable Ground

By End-users

  • Road Transport
  • Railway Transport
  • Metro & Transit
  • Utilities
  • Mining
  • Oil & Gas
  • Others

By Region

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • UK
    • France
    • Italy
    • Russia
    • Netherlands
    • Rest of Europe
  • Asia-Pacific
    • China
    • Indonesia
    • India
    • Japan
    • Australia
    • Rest of Asia-Pacific
  • LAMEA
    • Latin America
    • Middle East 
    • Africa

Key Players

  • China Railway Construction Heavy Industry Co. Ltd.
  • China Railway Engineering Equipment Group Co., Ltd.
  • 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. (The Robbins Company, Inc.)
  • Qinhuangdao Tianye Tolian Heavy Industry Co., Ltd. 

Tunnel Boring Machine Market Report Highlights

Aspects Details
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By Machine Type
  • Slurry TBM
  • Earth Pressure Balance Shield TBM
  • Shielded TBM
  • Multi-Mode TBM
  • Others
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By Geology Type
  • Soft Ground
  • Hard Rock Ground
  • Heterogenous Ground
  • Variable Ground
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By End-users
  • Road Transport
  • Railway Transport
  • Metro & Transit
  • Utilities
  • Mining
  • Oil & Gas
  • Others
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By Region
  • North America  (U.S., Canada, Mexico)
  • Europe  (France, Germany, Italy, Spain, UK, Russia, Rest of Europe)
  • Asia-Pacific  (China, Japan, India, South Korea, Australia, Thailand, Malaysia, Indonesia, Rest of Asia-Pacific)
  • LAMEA  (Brazil, South Africa, Saudi Arabia, UAE, Argentina, Rest of LAMEA)
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Key Market Players

Dalian Huarui Heavy Industry Group Co., Ltd., China Railway Engineering Equipment Group Co., Ltd., Herrenknecht AG, Northern Heavy Industries Group Co., Ltd. (The Robbins Company, Inc.), Hitachi Zosen Corporation, Qinhuangdao Tianye Tolian Heavy Industry Co., Ltd., China Railway Construction Heavy Industry Co. Ltd., Komatsu Ltd., IHI Corporation, Kawasaki Heavy Industries Ltd

Analyst Review

The global tunnel boring machine market possesses significant growth potential during the forecast period. The global tunnel boring machine market has significant growth, owing to an increase in the development in emerging countries such as China, Japan, India, and others. Furthermore, growth in the adoption of tunnel boring machines in various end users, owing to an increase in investment in the traffic infrastructure projects, is projected to caters the growth of the global tunnel boring machine market. Moreover, reduced operational time, labor cost, and high precision of work are major factors that boost the growth of the global tunnel boring machine market. However, the presence of another method for tunnel construction, such as NATM method, hinder the market growth. 

In addition, an increase in spending on road and railway infrastructure is expected to boost the growth of the market. Moreover, the government of developed or developing countries plan to   invest in railway infrastructure, and transportation infrastructure is anticipated to drive the growth of the market. Furthermore, an increase in technological advancement in the tunnel boring machine is anticipated to provide lucrative opportunities for the growth of the tunnel boring machine market during the forecast period.
 

Author Name(s) : Amol Phoke| Amar Chinchane | Sonia Mutreja
Frequently Asked Questions?

The global tunnel boring machine market size was $5,476.0 million in 2019 and is projected to reach $7,552.1 million in 2027, growing at a CAGR of 6.0% from 2020 to 2027.

The forecast period considered for the tunnel boring machine market is 2020 to 2027, wherein, 2019 is the base year, 2020 is the estimated year, and 2027 is the forecast year.

The base year considered in the global tunnel boring machine market is 2019.

The report for the global tunnel boring machine market doesn’t provide Value Chain Analysis, but if there is a requirement for the same, it could be added as additional customization.

On the basis of end-user, the metro & transit segment is expected to be the most influencing segment growing in the global tunnel boring machine market report.

Based on the machine type in 2019, the slurry TBM segment generated the highest revenue, accounting for 45.8% of the market, and is projected to grow at a CAGR of 5.7% from 2020 to 2027.

The report contains an exclusive company profile section, where leading 10 companies in the market are profiled. These profiles typically cover company overview, geographical presence, and market dominance (in terms of revenue and volume sales).

The market value of the global tunnel boring machine market is $5,032.4 million in 2020.

The key trending markets based on the geology type, in the global tunnel boring machine market, are the heterogeneous ground segment.

Countries such as China, India, and others, are taking several initiatives to promote large-scale tunneling projects for railways and highways in the region, owing to the rise in population, rapid urbanization, and strong economic growth. Such factors fuel the growth of the tunnel machine boring market. Moreover, a significant number of ongoing developments of metro projects in India is anticipated to fuel the demand for tunnel boring machines soon. For instance, Mumbai Metro Rail Corporation (MMRC) has deployed tunnel boring machines for the 33.5 Metro III corridor project. The tunnel boring machine was purchased from the manufacturing facility of Herrenknecht AG in China.

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Tunnel Boring Machine Market

Global Opportunity Analysis and Industry Forecast, 2020-2027