Global Tunnel Boring Machine Market Overview 2023-2028

IMARC Group, a leading market research company, has recently releases report titled “Tunnel Boring Machine Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global tunnel boring machine market growth, size, share, trends, and forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

The global tunnel boring machine market size reached US$ 5.5 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 7.1 Billion by 2028, exhibiting a growth rate (CAGR) of 3.9% during 2023-2028.

A tunnel boring machine (TBM) is a specialized equipment used to excavate tunnels through various soil and rock strata. It consists of a rotating cutter head equipped with disc cutters that break the rock or soil, which is then removed through a conveyor system. It assembles precast concrete segments to form the tunnel lining behind the cutter head, which effectively supports the excavated ground. It allows for a more controlled and continuous tunneling process, which makes them ideal for projects that require high precision and safety, such as urban infrastructure development or sensitive geological areas. 

Global Tunnel Boring Machine Market Trends and Drivers:

The increasing use of TBMs for constructing underground railways, highways, and roadways represents one of the primary factors strengthening the market growth around the world. They also allow for rapid, efficient excavation and tunnel construction, which reduces the impact on surface-level traffic and neighborhoods. In addition, the rising adoption of TBMs for installing utilities like water supply lines, sewage systems, and gas pipelines is favoring the growth of the market. Apart from this, the growing utilization of TBMs in the mining industry for creating access tunnels to reach mineral deposits and offer a safer and more efficient way to achieve these resources is influencing the market positively.

Global Tunnel Boring Machine Market 2023-2028 Analysis and Segmentation:

Top Key Players covered in this report are: 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

The report segmented the market on the basis machine type, product type, application and end user.

Breakup by Machine Type:

• 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:

• 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

Key highlights of the report:

• Market Performance (2017-2022)
• Market Outlook (2023- 2028)
• Porter’s Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape

If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

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