Global Tunnel Boring Machine Market Analysis & Outlook 2030

In 2021, the global tunnel boring machine market is estimated to be worth USD 7 billion and is expected to expand at a compound annual growth rate of 7% from 2022 to 2030. Tunnel drilling is used for digging in various rocks and soils. These machines are mainly used for coal mine excavation and tunnel construction. The increase in railway and highway infrastructure is expected to drive the growth of the TBM market. In addition, government investment in railway pipeline projects is expected to meet the growth of the TBM market. For example, in July 2019, the Italian government spent $33.79 billion on a railway infrastructure project.

Tunnel boring machines are used in water pipeline projects, hydropower projects, oil and gas pipelines and other projects, which in turn increase the demand for tunnel boring machines. The rapid urbanization and industrialization of developing countries such as India and China are expected to promote the growth of the TBM market. The tunnel boring machine manufacturer specializes in micro-tunneling activities. It is expected that this will increase the demand for TBM, thereby driving the growth of the TBM market. In addition, the increase in the use of tunnel boring machines in the mining industry is expected to be in line with the growth of the tunnel boring machine market. However, high investment costs and lack of flexibility are expected to hinder the growth of the TBM market. In addition, fluctuations in raw material prices are expected to hinder the growth of the global tunnel boring machine market. For example, in February 2020, the US government increased variable import tariffs on steel and aluminum. This increase included a 10% increase in aluminum imports and a 25% increase in steel imports, which had a negative impact on the U.S. manufacturing industry, which in turn had a negative impact on the overall U.S. economy. In addition, technological advancements in automated TBM and rock cutting technology are expected to provide lucrative opportunities for the growth of the TBM market.

The new type of coronavirus has spread rapidly and continues to spread in various countries and regions, and has a huge impact on the lives of wider communities and people. It originated from the human health crisis and now poses a major threat to commerce, economy and finance around the world. In addition, due to the COVID-19 pandemic, major players are facing growing business concerns related to the coronavirus outbreak, supply chain disruption, and possible decline in consumer spending. In addition, in 2017, according to the statistics of international TBM manufacturers, Chinese companies have joined one after another.

China has become the world's largest TBM, accounting for about 65% of the total output. The global tunnel boring machine market is divided by machine type, geological type, end user and region. According to the type of machine, the market is divided into sludge tunnel boring machine, earth pressure balance protection tunnel boring machine, armored tunnel boring machine, multi-mode tunnel boring machine, etc. In 2019, TBM in the pulp industry had the highest revenue. According to the geological type, the TBM market is divided into soft topography, hard rock topography, heterogeneous topography and variable topography. The heterogeneous land portion generated the highest income in 2019. According to the end user, the market is divided into road transportation, railway transportation, subway and transportation, utilities, mining, oil and gas, etc. The subway and transportation sectors generated the highest revenue in 2020. Regarding this region, the analysis of the global tunnel boring machinery market was conducted in North America (the United States, Canada and Mexico), Europe (the Kingdom, the Netherlands, Russia, France, Germany), Italy and the rest of Europe), the Asia-Pacific region (China, Japan, Australia, Indonesia, India and the rest of the Asia-Pacific region) and LAMEA (Latin America, Middle East and Africa). In 2019, the Asia-Pacific region is the largest contributor to the TBM market share and is expected to maintain its leading position during the forecast period.

Geography Analysis:

The report further discusses the market opportunity, compound annual growth rate (CAGR) growth rate, competition, new technology innovations, market players analysis, government guidelines, export and import (EXIM) analysis, historical revenues, future forecasts etc. in the following regions and/or countries:

• North America (U.S. & Canada) Market Size, Y-O-Y Growth, Market Players Analysis & Opportunity Outlook
• Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
• Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC(Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market Size, Y-O-Y Growth Market Players Analys  & Opportunity Outlook
• Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
• Middle East and Africa  (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market Size, Y-O-Y Growth Market Players Analysis & Opportunity Outlook

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