Global Tunnel Boring Machine Market to Grow at a CAGR of 6.00% During 2026-2035, Aided by the Growing Application of TBM in the Mining Industry

The tunnel boring machine industry is being driven by the growing application of tunnel boring machines in the mining sector. This can be attributed to the numerous advantages of TBMs over drilling and blasting that pose challenges to the safety of workers. In this regard, with the use of TBM during the excavation process, the ground disturbance can be drastically reduced, resulting in a stable opening. Over the forecast period, the technological advancements in TBMs aimed at enhancing their efficiency and facilitating cost savings, are likely to provide impetus to the market growth. The market is expected to be further augmented by the thriving end use industries of the product including oil and gas, road transport, and rail transport, among others.

In Q1 2021, Hitachi Zosen Corporation and Kawasaki Heavy Industries, Ltd. (OTCMKTS: KWHIY) signed an agreement to start detailed studies for the establishment of a new company in the tunnel boring machine business, likely to open in October 2021. This will allow both the companies to expand their presence in the TBM industry in Europe, North America, and the Asia Pacific.

In terms of region, the Asia Pacific is estimated to account for a significant share in the market, owing to the rising government expenditure on tunnel development to bolster the rail and road networks. This factor is likely to propel the demand for TBM in the forecast period. Further, the growing mergers and acquisitions by major market players to expand their market presence are likely to contribute to the market growth in the forecast period.

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Market Breakup by Machine Type, Geology Type, End Use, and Region:

• The market is segmented, based on machine type, into slurry TBM, earth pressure balance shield TBM, shielded TBM, multi-mode TBM, and other machines.

• Based on geology type, the market can be segmented into soft ground, hard rock ground, heterogenous ground, and variable ground.

• The significant end uses of the product include road transport, railway transport, metro and transit, utilities, mining, and oil and gas, among others.

• Region-wise, the global market for TBM can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

• The global market for TBM is being driven by the rising application of the product in mining operations, owing to the enhanced safety offered by TBM as compared to conventional methods.

• The heightened government expenditure in the expansion of public infrastructure including roadway networks is anticipated to prove beneficial for the market growth.

• The growing research and development activities by the key manufacturers aimed at enhancing the efficiency of these machines and facilitate cost savings are likely to propel the market growth.

• The market is expected to be supported by the thriving end use industries of the product such as oil and gas, and road and rail transport, among others.

Key Offerings of the Report:

• The EMR report gives an overview of the global market for tunnel boring machine for the periods (2019-2025) and (2026-2035). 

• The report also offers historical (2019-2025) and forecast (2026-2035) market information for the machine types, geology types, end uses, and regions of tunnel boring machine.

• The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global tunnel boring machine market are Komatsu Ltd., China Railway Engineering Equipment Group Co., Ltd., Herrenknecht AG, Hitachi Zosen Corporation, and Kawasaki Heavy Industries, Ltd., among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

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