Tunnel Boring Machine Market Share, Growth Analysis, Revenue, Industry Size and Forecast 2032

06 Nov Tunnel Boring Machine Market Share, Growth Analysis, Revenue, Industry Size and Forecast 2032

Tunnel Boring Machine Industry Outlook 2024-2032

Summary:

• The global tunnel boring machine market size reached USD 5.8 Billion in 2023.
• The market is expected to reach USD 8.0 Billion by 2032, exhibiting a growth rate (CAGR) of 3.62% during 2024-2032.
• Asia Pacific leads the market, accounting for the largest tunnel boring machine market share.
• Slurry TBM accounts for the majority of the market share in the machine type segment as they efficiently manage groundwater and soil pressure, making them ideal for tunneling in challenging, waterlogged, or unstable ground conditions.
• Hard ground TBM holds the largest share in the tunnel boring machine industry.
• Traffic tunneling remain a dominant segment in the market, due to the high demand for underground infrastructure to alleviate congestion and improve transportation efficiency in densely populated urban areas.
• Metro and transit represent the leading end user segment.
• The increasing demand for underground utility installations in urban planning is a primary driver of the tunnel boring machine market.
• The tunnel boring machine market growth and forecast highlight a significant rise due to the government initiatives and funding for sustainable infrastructure development and expanding mining activities.

Request a sample copy of the report: https://www.imarcgroup.com/tunnel-boring-machine-market/requestsample

Industry Trends and Drivers:

• Urbanization and infrastructure development:

The rapid urbanization across numerous parts of the world is one of the major factors boosting the tunnel boring machine market share. TBMs provide a faster and more environmentally controlled method for creating tunnels in densely populated areas where disruption to surface activities must be minimized. As cities expand, the need for efficient and less invasive construction methods has pushed for TBM adoption, especially for subway expansions, underground roads, and utility tunnels. Major cities in Asia-Pacific, Europe, and North America are investing in tunnel infrastructure as they upgrade transportation and utility networks, thereby creating strong demand for TBMs. With increased focus on urban planning and sustainability, these machines align well with the need for low-impact excavation and reduced noise pollution.

• Advancements in TBM technology:

The tunnel boring machine market trends indicate that the recent innovations in TBM technology are making these machines more effective, adaptable, and safer, driving market growth as a result. For instance, new-generation TBMs now come equipped with advanced monitoring and navigation systems that allow for real-time adjustments to tunnel direction and diameter, which ensures precision in excavation and reduces the risk of structural failures. TBMs can now navigate different soil and rock conditions more efficiently, making them suitable for a broader range of projects. Integration of automation and IoT-enabled sensors has enhanced data gathering and machine performance, resulting in fewer disruptions during tunneling projects. This advancement is further increasing the tunnel boring machine demand.

• Rising investments in renewable energy and hydroelectric projects:

Global investments in renewable energy, especially hydropower, require extensive tunneling for water conveyance, access to powerhouses, and other infrastructure elements. TBMs play a key role in the construction of tunnels in challenging geological conditions commonly encountered in hydropower projects. Countries with high potential for renewable energy, such as China, India, and Canada, are advancing their hydropower projects, which require robust tunneling solutions. TBMs offer a more efficient, safe, and cost-effective means of excavation compared to traditional blasting techniques, which is particularly beneficial in environmentally sensitive regions. As governments worldwide push for sustainable energy sources, TBM demand in renewable energy infrastructure continues to rise, the tunnel boring machine market size continues to grow.

Tunnel Boring Machine Market Report Segmentation:

Breakup By Machine Type:

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

Slurry TBM dominates the market due to its ability to handle high water pressure and unstable soil conditions effectively, making it ideal for complex urban and underwater tunneling projects.

Breakup By Product Type:

• Soft Ground TBM
• Hard Ground TBM

Hard ground TBM holds the maximum number of shares as they are specifically designed to handle challenging geological conditions, making them essential for projects in areas with dense or abrasive rock formations.

Breakup By Application:

• Traffic Tunneling
• Utility Tunneling

Traffic tunneling represent the largest segment on account of the increasing demand for efficient, underground transportation solutions in densely populated urban areas to alleviate surface congestion.

Breakup By End User:

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

Metro and transit dominate the market due to increasing urbanization and the growing need for efficient public transportation systems in densely populated cities.

Breakup By Region:

• 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

Asia Pacific holds the leading position owing to a large market for tunnel boring machine driven by its high infrastructure investment, rapid urbanization, and extensive tunnel construction projects in countries such as China, India, and Japan.

Top Tunnel Boring Machine Market Leaders:

The tunnel boring machine market research report outlines a detailed analysis of the competitive landscape, offering in-depth profiles of major companies. Some of the key players in the market are:

• 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.
• Sika AG.

If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.

About Us:

IMARC Group is a global management consulting firm that helps the world’s most ambitious changemakers to create a lasting impact. The company provides a comprehensive suite of market entry and expansion services. IMARC offerings include a thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape, and benchmarking analyses, pricing and cost research, and procurement research.