Summary

Tunnel Boring Machine Market Growth & Trends

The global tunnel boring machine market size is anticipated to reach USD 9,400.0 million by 2030, registering a CAGR of 4.9% from 2023 to 2030, according to a new report by Grand View Research, Inc. The increasing need for tunnel boring machines (TBMs) can be attributed to the rapid growth of transportation infrastructure projects. This expansion in transportation infrastructure is driven by strong economic development, urbanization, and global smart city initiatives.To meet the growing demands for improved connectivity, governments are allocating significant investments into a wide range of construction projects, including subway systems (metro), light rail transit, subterranean freight transportation, and utility tunnels. In addition, the increasing mining operations worldwide are anticipated to be a significant driver for market growth.

The International Tunneling and Underground Space Association (ITA-AITES) serves as the global authority in establishing standards for tunneling and underground construction. In addition, robust safety regulations from regional bodies, such as the Ministry of Road Transport and Highways (MoRTH) in India, have played a regulatory role in shaping the market. The outlook for the TBM market is intricately linked to the evolving global infrastructure development scene. As nations worldwide continue to engage in public-private partnerships, revamp existing infrastructure, and establish underground data centers, the market prospects for TBMs appear promising. Furthermore, the ability of these machines to effectively tackle complex geological conditions, including hard rock, soft soil, and heterogeneous ground, is anticipated to sustain their high growth rate in the foreseeable future.

Tunnel boring machines provide a range of environmental advantages when compared to traditional tunneling techniques. Their capacity to minimize surface disturbance, reduce noise pollution and carbon emissions, enhance groundwater management, and deliver superior alignment precision makes them a more favorable choice.Companies in the global market are proactively directing their investments toward R&D endeavors. This strategic approach not only allows them to sustain their market presence but also facilitates deeper penetration into the market.The market competition is primarily fueled by technological advancements, project-tailored bids, post-sale support, and the capacity to cater to the unique requirements of tunneling projects. In addition, the integration of artificial intelligence (AI) into these machines has empowered companies to introduce inventive products to the market.

Tunnel Boring Machine Market Report Highlights

• The hard rock TBM segment held the highest market share in 2022 due to their widespread utilization in a diverse range of construction and infrastructure ventures that encompass tunnel excavation within exceedingly tough and abrasive rock environments

• The soft ground product segment is expected to witness the highest growth over the forecast period owing to their application in creating tunnels for housing utility infrastructure, such as electrical cables, water pipelines, and telecommunications networks & tunneling in coastal regions

• The transport segment held the highest market share of 32.3% in 2022as TBMs are deployed in the construction of tunnels and underground passages, including road tunnels, rail tunnels, and subway systems with accurate alignment

• The oil & gas segment is expected to witness the highest CAGR over the forecast period due to the creation of fewer distribution zones, less time for tunneling, and improved operational feasibility

• Asia Pacific is anticipated to grow at the fastest CAGR from 2023 to 2030 owing to the rising mining activities and huge capital expenditure to improve the transportation infrastructure

• In October 2023, Schnabel Engineering, a prominent infrastructure engineering firm, unveiled its acquisition of JCK Underground, a renowned player in tunnel engineering

• This strategic amalgamation of industry leaders is anticipated to deliver substantial benefits to their clients by harnessing the collective resources, expertise, and track records of these two companies, both of which are dedicated to delivering exceptional services and solutions

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Table of Contents

Table of Contents

Chapter 1. Methodology and Scope
1.1. Research Methodology
1.2. Research Scope & Assumption
1.3. Information Procurement
1.3.1. Purchased Database
1.3.2. GVR’s Internal Database
1.3.3. Secondary Sources & Third-Party Perspectives
1.3.4. Primary Research
1.4. Information Analysis
1.4.1. Data Analysis Models
1.5. Market Formulation & Data Visualization
1.6. Data Validation & Publishing
Chapter 2. Executive Summary
2.1. Market Outlook
2.2. Segmental Outlook
2.3. Competitive Insights
Chapter 3. Tunnel Boring Machine Market Variables, Trends & Scope
3.1. Market Lineage Outlook
3.2. Market Segmentation & Scope
3.3. Penetration & Growth Prospect Mapping
3.4. Industry Value Chain Analysis
3.5. Vendor Matrix
3.6. Regulatory Framework
3.7. Tunnel Boring Machine Market - Market dynamics
3.7.1. Market Driver Analysis
3.7.2. Market Restraint Analysis
3.7.3. Market Opportunity Analysis
3.7.4. Market Challenges Analysis
3.8. Industry Analysis Tools: Tunnel Boring Machine Market
3.8.1. Porter’s Analysis
3.8.2. Macroeconomic Analysis
3.9. Economic Mega Trend Analysis
Chapter 4. Tunnel Boring Machine Market: Product Type Estimates & Trend Analysis
4.1. Product Type Movement Analysis & Market Share, 2022 & 2030
4.1.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
4.1.2. Hard Rock TBM
4.1.2.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
4.1.2.1.1. Shielded TBM
4.1.2.1.2. Market estimates and forecasts, 2018 - 2030 (USD Million)
4.1.2.1.3. Open Type TBM
4.1.2.1.4. Market estimates and forecasts, 2018 - 2030 (USD Million)
4.1.3. Soft Ground TBM
4.1.3.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
4.1.3.1.1. Slurry Shield TBM
4.1.3.1.2. Market estimates and forecasts, 2018 - 2030 (USD Million)
4.1.3.1.3. Earth Pressure TBM
4.1.3.1.4. Market estimates and forecasts, 2018 - 2030 (USD Million)
4.1.3.1.5. Open Face Type TBM
4.1.3.1.6. Market estimates and forecasts, 2018 - 2030 (USD Million)
4.1.3.1.7. Others
4.1.3.1.8. Market estimates and forecasts, 2018 - 2030 (USD Million)
4.1.4. Heterogeneous Ground TBM
4.1.4.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
Chapter 5. Tunnel Boring Machine Market: End-Use Estimates & Trend Analysis
5.1. End-Use Movement Analysis & Market Share, 2022 & 2030
5.1.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
5.2. Mining
5.2.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
5.3. Oil & Gas
5.3.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
5.4. Transport
5.4.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
5.5. Utility
5.5.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
5.6. Others
5.6.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
Chapter 6. Tunnel Boring Machine Market: Regional Estimates & Trend Analysis
6.1. Regional Movement Analysis & Market Share, 2022 & 2030
6.2. North America
6.2.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
6.2.2. U.S.
6.2.2.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
6.2.3. Canada
6.2.3.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
6.2.4. Mexico
6.2.4.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
6.3. Europe
6.3.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
6.3.2. Germany
6.3.2.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
6.3.3. UK
6.3.3.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
6.3.4. France
6.3.4.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
6.3.5. Spain
6.3.5.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
6.3.6. Italy
6.3.6.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
6.4. Asia Pacific
6.4.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
6.4.2. China
6.4.2.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
6.4.3. Japan
6.4.3.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
6.4.4. India
6.4.4.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
6.4.5. South Korea
6.4.5.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
6.4.6. Australia
6.4.6.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
6.5. Latin America
6.5.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
6.5.2. Brazil
6.5.2.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
6.5.3. Argentina
6.5.3.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
6.6. Middle East & Africa
6.6.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
6.6.2. UAE
6.6.2.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
6.6.3. South Africa
6.6.3.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
6.6.4. Saudi Arabia
6.6.4.1. Market estimates and forecasts, 2018 - 2030 (USD Million)
Chapter 7. Tunnel Boring Machine Market - Competitive Analysis
7.1. Recent Developments & Impact Analysis, By Key Market Participants
7.2. Key Company/Competition Categorization
7.3. Participant’s Overview
7.4. Financial Overview
7.5. Product Type Benchmarking
7.6. Company Market Positioning
7.7. Competitive Dashboard Analysis
7.8. Company Market Share Analysis, 2022
7.9. Company Heat Map Analysis
7.10. Strategy Mapping
Chapter 8. Company Profiles
8.1. Kawasaki Heavy Industries, Ltd.
8.2. Herrenknecht AG
8.3. The Robbins Company
8.4. TERRATEC Ltd.
8.5. Japan Tunnel Systems Corporation
8.6. Mitsubishi Heavy Industries, Ltd.
8.7. Komatsu Ltd.
8.8. SN Mercantile India Pvt. Ltd.
8.9. High Speed Two Ltd
8.10. Amberg Engineering
8.11. Mammoet
8.12. Hitachi Zosen Sakai Works
8.13. China Railway Tunnel Group
8.14. Sika AG
8.15. Liaoning Censcience End-Use Co. Ltd.