The global tunnel boring machine market comprises tunnel boring machines that are used for excavating tunnels below the surface through soft ground and hard rock. Tunnel boring machines are used for constructing tunnels during transportation infrastructure projects such as railways, highways, metro rails, subways, and water supply infrastructure. The increasing need for developing transportation and utility infrastructure is driving the demand for tunnel boring machines globally. Tunnel boring machines offer advantages such as high accuracy of tunnel dimensions, minimized tunnel surface disturbances, and reduced project time over conventional drill-and-blast methods.

The Global Tunnel Boring Machine Market is estimated to be valued at US$ 6,705.8 Mn in 2024 and is expected to exhibit a CAGR of 4.9% over the forecast period 2024 to 2031.

Key Takeaways

Key players operating in the Global Tunnel Boring Machine Market Demand are Komatsu Ltd., SN Mercantile India Pvt. Ltd., High Speed Two Ltd., Amberg Engineering, Mammoet, Hitachi Zosen Sakai Works, China Railway Tunnel Group, Sika AG, Liaoning Censcience End-Use Co. Ltd., Kawasaki Heavy Industries, Ltd., Herrenknecht AG, The Robbins Company, TERRATEC Ltd., Japan Tunnel Systems Corp., Mitsubishi Heavy Industries, Ltd. Komatsu Ltd. and Herrenknecht AG hold a major market share in the global tunnel boring machine market.

Increasing investments in metro rail projects and transportation infrastructure development across major economies offer significant growth opportunities for manufacturers of tunnel boring machines. Some of the key upcoming infrastructure projects offering opportunities include Delhi- Meerut Regional Rapid Transit System, hyderabad Metro Rail Project Phase 2, Mumbai Metro Line 3, Bengaluru Metro Rail Project Phase 2A and Phase 2B.

The key players are focusing on global expansion through partnerships and contracts for major infrastructure projects worldwide. For instance, in August 2021, Herrenknecht received an order from Brazil's Metro Company to supply tunnel boring machines for Line 6 of the Sao Paulo Metro extension project.

Market Drivers

One of the key drivers for the global tunnel boring machine market is the increasing investments in infrastructure development projects worldwide. Major economies are focusing on developing transportation infrastructure such as rail networks, metros, roads etc. to reduce congestion and improve connectivity. This is driving the demand for tunnel boring machines.

Market Restrains

High initial costs associated with tunnel boring machines is a major challenge. The construction of tunnels requires specialized and expensive tunnel boring machines. This increases the project costs. Additionally, difficult geological conditions can slow down boring operations or damage tunnel boring machines, increasing project timelines and costs. This acts as a restrain for the market.

Segment Analysis

The global tunnel boring machine market is segmented into tunnel boring shield and tunnel boring roadheader by machine type. The tunnel boring shield segment dominates the market and accounts for around 60% share of the overall market. Shield tunneling provides high accuracy in tunnel construction and can be used in various ground conditions which has increased its adoption rate across major construction projects globally.

By geology, the market is segmented into soft ground, hard rock ground, heterogeneous ground, and heterogeneous ground conditions. The soft ground segment dominates the market currently due to large number of tunneling projects being carried out under urban infrastructure development.

Global Analysis

Europe dominates the global tunnel boring machine market with over 35% share, followed by Asia Pacific and North America. High focus on infrastructure development projects such as transportation and utility tunnels has driven the demand for tunnel boring machines in Europe. Countries such as Germany, United Kingdom, and France are major markets.

Asia Pacific is identified as the fastest growing regional market encouraged by the rising investment in transport infrastructures development in developing countries. China, India, and Japan are sawing higher adoption of tunnel boring machines for metros, highways, and hydroprojects. Supportive government policies and funding for smart city projects will continue to propel the APAC tunnel boring machine market during the forecast period.

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