Market Overview :
According to MRFR analysis, Global Tunnel Boring Machine market is expected to register a CAGR of ~ 5.60% from 2022 to 2030 and hold a value of over USD 9.43 billion by 2030. The global tunnel boring machine (TBM) market is a segment of the construction equipment industry that specializes in manufacturing and supplying tunnel boring machines.
These machines are used for excavating tunnels in various applications such as transportation (railways, roads, and metros), mining, oil and gas, and utilities. The tunnel boring machine market has witnessed significant growth over the years due to the increasing demand for efficient and cost-effective tunneling solutions. The market size is influenced by factors such as urbanization, the need for better transportation infrastructure, and the expansion of mining and oil and gas sectors.
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Key Companies in the tunnel boring machine market includes.
• China Railway Group Limited (CRGL)
• IHI Corporation
• Kawasaki Heavy Industries Ltd
• Hitachi Zosen Corporation
• Bosch Rexroth AG, among others
Regional Analysis
The North American region, particularly the United States and Canada, has a well-established infrastructure development sector, including transportation and underground construction projects. The demand for TBMs in North America is driven by the expansion of subway systems, road and rail tunnels, and the need for underground utility networks. Major cities like New York, Los Angeles, Toronto, and Vancouver have ongoing or planned large-scale tunneling projects, creating a significant market for TBMs.
Europe has a mature tunneling and underground construction market, with countries like Germany, France, and the United Kingdom being the major contributors. Urbanization, the need for improved transportation infrastructure, and the renovation of existing tunnels drive the demand for TBMs in the region. European countries have a strong focus on technological advancements in TBMs, promoting the development of innovative solutions.
The Asia Pacific region is witnessing significant growth in the tunneling sector due to rapid urbanization, increasing infrastructure investments, and the expansion of transportation networks. China is a major market for TBMs, driven by the country’s extensive high-speed rail network construction, urban subway systems, and water diversion projects..
Market Segmentation
Tunnel Boring Machine Market Segmentation:
Tunnel Boring Machine Component Outlook
Tunnel Boring Machine Product Type Outlook
Tunnel Boring Machine Technology Outlook
Tunnel Boring Machine Fuel Type Outlook
TABLE OF CONTENTS
1 Executive Summary
2 Market Introduction
2.1 Definition
2.2 Scope Of The Study
2.3 Market Structure
2.4 Key Buying Criteria
3 Research Methodology
3.1 Research Process
3.2 Primary Research
3.3 Secondary Research
3.4 Market Size Estimation
3.5 Top-Down And Bottom-Up Approach
3.6 Forecast Model
3.7 List Of Assumptions
4 Market Dynamics
4.1 Introduction
4.2 Drivers
4.2.1 Growing Investments For Urban Transportation
4.2.2 Growing Adoption Of Tunnel Boring Machines In Mining And Construction Industry
4.2.3 Drivers Impact Analysis ……
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