Unleashing The Power Of Progress: Transforming Underground Construction With Tunnel Boring Machines X Herald

(MENAFN- Ameliorate Digital Consultancy) As per the study initiated by Evolve Business Intelligence, the global Tunnel Boring Machine market size accounted for USD 7.2 Billion in 2022, growing at a CAGR of 8.1% from 2023 to 2033. The tunnel boring machine (TBM) market refers to the industry involved in the manufacturing, distribution, and use of tunnel boring machines for tunnel excavation projects. Tunnel boring machines are large machines used to excavate tunnels in various underground construction projects, such as transportation tunnels, water supply tunnels, sewer tunnels, and mining tunnels. Tunnel boring machines are designed to excavate tunnels efficiently and safely by using a rotating cutting head and a system for removing the excavated material. They can bore through various ground conditions, including rock, soil, and mixed ground, with high precision and minimal disturbance to the surrounding environment. TBMs offer advantages such as faster excavation rates, reduced labor requirements, improved safety, and increased tunnel quality. The market for tunnel boring machines is driven by factors such as urbanization, infrastructure development, and the need for efficient transportation systems. The construction of transportation tunnels, such as metro systems and road tunnels, is increasing to address urban congestion and improve connectivity. Additionally, the demand for underground storage facilities, water supply systems, and mining tunnels is contributing to the market growth.

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Key Highlights:

  • The global Tunnel Boring Machine Market size was valued at USD 2 billion in 2022 growing at a CAGR of 8.1% from 2023 to 2033.
  • North America dominated the market in 2022
  • Asia Pacific is expected to fastest-growing at the highest CAGR from 2023 to 2033

Evolve Business Intelligence has published a new market research report on Global Tunnel Boring Machine Market focusing in various aspects including market size and forecast, market dynamics, competitors market share analysis, market size in terms of value and volume, SWOT analysis, product benchmarking, key players recent developments, and opportunities, among others. The market has also been analyzed based on 4 indicators in the market dynamic chapter which includes Drivers, Restraints, Key Trends, and Challenges. The overall sum of these sections will help to understand the best strategies to be adopted in order to prosper through this industry over short and long terms. The quantitative analysis includes our authentic findings out of this research study where we provided additional insight into what our readers can do to embrace new opportunities or plan against threats that might hinder the market.

In terms of COVID 19 impact, the Tunnel Boring Machine market report also includes the following data points:

  • COVID19 Impact on Tunnel Boring Machine market size
  • End-User/Industry/Application Trend, and Preferences
  • Government Policies/Regulatory Framework
  • Key Players Strategy to Tackle Negative Impact/Post-COVID Strategies
  • Opportunity in Tunnel Boring Machine market

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Key Players

Some of the major Tunnel Boring Machine players holding high market share include China Railway Construction Heavy Industry Co. Ltd., China Railway Engineering Equipment Group Co., Ltd., Dalian Huarui Heavy Industry Group Co., Ltd., and Herrenknecht AG. These players use partnership and collaboration as a key strategy to gain significant market share to compete with market leaders.

The key players profiled in the report are:

  • 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.

Segmental Analysis

Market Segment By Machine Type with focus on market share, consumption trend, and growth rate of Tunnel Boring Machine Market:

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

Market Segment By Geology Type with focus on market share, consumption trend, and growth rate of Tunnel Boring Machine Market:

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

Market Segment By end-user with a focus on market share, consumption trend, and growth rate of the Tunnel Boring Machine Market:

  • Road Transport
  • Railway Transport
  • Metro & Transit
  • Utilities
  • Mining
  • Oil & Gas
  • Others
Parameters Details
Market Size (2022) $ 7.2 Billion
CAGR (2023 to 2033) 8.1%
Market Segmentation Machine Type, Geology Type, End User
Country Covered US, Canada, Mexico, UK, Germany, France, Italy, Spain, Nordic Countries, BeNeLux, Rest of Europe, China, India, Japan, South Korea, Indonesia, Malaysia, Australia, Rest of Asia Pacific, Middle East & Africa, and South America

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Global Tunnel Boring Machine Geographic Coverage:

  • North America
    • US
    • Canada
    • Mexico
  • Europe
    • UK
    • Germany
    • France
    • Italy
    • Spain
    • Nordic Countries
    • Benelux
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Indonesia
    • Malaysia
    • Australia
    • Rest of Asia Pacific
  • Middle East and Africa
    • Saudi Arabia
    • UAE
    • Egypt
    • South Africa
    • Rest of MEA
  • Latin America
    • Mexico
    • Brazil
    • Argentina
    • Rest of Latin America

Reasons to Buy this Report:

  • Detail analysis of the impact of market drivers, restraints, and opportunities
  • Competitive Intelligence provides an understanding of the ecosystem
  • Details analysis of the Total Addressable Market (TAM) of your products
  • Investment Pockets and New Business Opportunities
  • Demand-supply gap analysis
  • Strategy Planning

About EvolveBI
Evolve Business Intelligence is a market research, business intelligence, and advisory firm providing innovative solutions to challenging pain points of a business. Our market research reports include data useful to micro, small, medium, and large-scale enterprises. We provide solutions ranging from mere data collection to business advisory.

Evolve Business Intelligence is built on account of technology advancement providing highly accurate data through our in-house AI-modelled data analysis and forecast tool – EvolveBI. This tool tracks real-time data including, quarter performance, annual performance, and recent developments from fortune's global 2000 companies.

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