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 device employed to dig tunnels through diverse soil and rock formations. Its core comprises a spinning cutter head furnished with disc cutters designed to fracture the rock or soil, subsequently extracted via a conveyor system. This equipment also assembles precast concrete segments, creating the tunnel lining at the rear of the cutter head, providing crucial support to the excavated ground. TBMs facilitate a meticulously managed and uninterrupted tunneling process, making them well-suited for ventures demanding high precision and safety, such as urban infrastructure development or delicate geological regions.
Global Tunnel Boring Machine Market Trends and Drivers:
The burgeoning utilization of Tunnel Boring Machines (TBMs) in the construction of underground railways, highways, and roads is a pivotal factor augmenting market growth on a global scale. TBMs facilitate swift and efficient excavation, streamlining tunnel construction and minimizing disruptions to surface-level traffic and surrounding communities. Additionally, the increasing adoption of TBMs for laying utilities such as water supply lines, sewage systems, and gas pipelines is propelling market expansion. Furthermore, the escalating integration of TBMs within the mining sector to construct access tunnels for reaching mineral deposits, ensuring a safer and more efficient resource extraction process, is positively impacting the market.
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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