Tunnel Boring Machine Market Soars High, Fairfield Market Research Expects a US$ 9.8 Billion Revolution by 2030


The tunnel boring machine market is driven by different factors, with ongoing innovations in TBM designs enhancing productivity and safety.

London, March 05, 2024 (GLOBE NEWSWIRE) — With significant growth projection given by a newly published report of Fairfield Market Research, the global market for the tunnel boring machine is all set to skyrocket, leaping from US$ 6.3 billion recorded in 2022, to an astounding US$ 9.8 billion by the end of 2030. The market, as the report suggests, is likely to witness a CAGR of 6.5% from 2023 and 2030.

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Report Attributes Details
Base Year 2022  
Forecast Year 2023 – 2030
Market Size in 2022 US$ 6.3.Billion
Estimated Market Size in 2030 US$ 9.8 Billion
CAGR 6.5%  
Growth Drivers
  • Advancements in Automation, and Growing AI Integration
  • Modular and Customisable TBM Designs
  • Sustainability in Tunneling Practices
  • By Machine (Slurry TBM, Earth Pressure Balance Shield TBM, Shielded TBM, Multi-mode TBM, and Others)
  • By End-use Industry (Automotive, Energy & Power, Industrial, Utilities, Mining, Oil & Gas)
  • By Geology Type (Soft Ground, Hard Ground, Heterogeneous Ground, and Variable Ground)
Regional Coverage
  • North America (US, Canada)
  • Europe (Germany, UK, France, Italy, Turkey, Russia, Rest of Europe)
  • Asia Pacific (China, Japan, South Korea, India, Southeast Asia, Rest of Asia Pacific)
  • Latin America (Brazil, Mexico, Rest of Latin America)
  • The Middle East & Africa (GCC, South Africa, Rest of Middle East & Africa)

Collaborations between international construction firms and TBM manufacturers are on the rise. Strategic partnerships facilitate knowledge exchange and technology transfer, fostering a competitive global market landscape. Automation, precision engineering, and environmentally friendly features characterise the latest trends in tunnel boring machines, ensuring market competitiveness.

The accelerating pace of urbanisation globally is a significant driver for the tunnel boring machine (TBM) market. As cities expand to accommodate growing populations, the demand for efficient transportation networks, including tunnels for roads and railways, surges. TBMs play a crucial role in these projects, enabling the construction of underground passages swiftly and safely.

This trend is particularly evident in developing economies where new cities are emerging and existing urban centers are undergoing extensive redevelopment. Governments and private investors, recognising the necessity of robust infrastructure, continue to invest substantially in TBMs, ensuring sustained growth for the market.

Key Research Insights

  1. Slurry-type TBMs lead the market by machine type due to their adaptability and efficiency, catering to both road transport and railway tunneling projects.
  2. Soft ground conditions dominate geology type segment, ensuring enhanced safety and stability, particularly in railway transport projects, driving market growth in this segment.
  3. Road transport emerges as the primary end-use sector, demanding customised TBMs. Increasing infrastructural projects worldwide boost the need for efficient tunnelling solutions in this sector.
  4. Companies are developing innovative modular components, allowing customisation. Brands are leveraging this trend to cater to niche market demands, ensuring flexibility and competitiveness.

Insights into Segmentation Analysis

Soft Ground Segment to Surge Ahead through 2030

  • The soft ground category dominated the industry in 2022 and accounted for around 70% of the market share. The dominance of soft-ground TBMs can be attributed to the widespread urbanisation and the need for underground infrastructure in densely populated areas.
  • Soft ground TBMs are highly efficient in excavating through soil, clay, and other less compacted materials, making them indispensable for projects such as subways, sewage systems, and utility tunnels in urban environments.
  • Soft-ground projects often require continuous tunneling, leading to a consistent demand for TBMs. Furthermore, this category also represents the fastest-growing segment due to ongoing urban development initiatives, environmental concerns, and the need to optimise space in crowded cities.

For More Industry Insights Read: https://www.fairfieldmarketresearch.com/report/tunnel-boring-machine-market

Road Transport Remains the Largest End-use Sector

  • The road transport segment dominated the market in 2022 constituting around 60% of the market share. This is due to the increasing demand for road infrastructure globally, driven by urbanisation and population growth. Road transport projects require extensive tunneling for highways, bridges, and urban road networks, making TBMs indispensable.
  • The railway transport category is expected to experience the fastest growth within the forecast time frame, with a growth rate of around 8-10% annually. This rapid growth is due to various governments’ initiatives to enhance rail connectivity, reduce traffic congestion, and promote eco-friendly modes of transport.
  • Investments in high-speed rail networks and metro systems across different regions are fuelling the demand for TBMs in railway transport projects, making it the fastest-growing segment in the market.

Slurry Category Continues to Dominate over Shielded Segments

  • The slurry segment dominated the market in 2022 due to their adaptability in soft ground conditions.
  • In 2022, slurry TBMs held the largest market share, contributing to 60% of the total sales. Their efficient excavation capabilities and versatility in various geological settings make them the preferred choice, ensuring steady growth.
  • The shielded category is projected to experience the notable market growth. Witnessing a growth rate of 8% annually. In 2022, it accounted for 30% of the market share. Its rising popularity is attributed to increased urbanisation, requiring stable tunnels for transportation networks. The demand for shielded TBMs is notably high in densely populated regions, driving their rapid market expansion.

Key Report Highlights

  • Sustainable tunneling practices are gaining momentum globally, driven by environmental concerns.
  • Automation and AI integration in TBMs are revolutionising tunnel construction. Enhanced precision, reduced operational errors, and improved safety characterise this trend.
  • Modular and customisable TBM designs are becoming prevalent, offering adaptability to various geological conditions and project requirements

Insights into Regional Analysis

Asia Pacific stands out as the dominating region. Rapid urbanisation extensive road, and rail projects, coupled with governmental support, make this region the epicentre of TBM market expansion.

North America witnesses substantial growth, driven by increased demands in road transport infrastructure, particularly in soft ground regions. Investments in modernising ageing tunnels and bridges further boost the market in this region

Asia Pacific Expects Gains from Rapidly Improving Transportation Networks

Asia Pacific stood as the largest regional market, capturing 45% share of the global market for tunnel boring machines in 2022. Rapid urbanisation in countries like China, and India propelled the demand for TBMs, primarily for metro and road projects.

Technological advancements and increased infrastructure spending contributed to Asia Pacific’s dominance, with a diverse range of projects sustaining the market’s growth trajectory.

Additionally, the region’s favourable government policies and initiatives aimed at improving transportation networks have further fuelled the demand for TBMs. As a result, Asia Pacific is expected to continue leading the global TBM market in the coming years.

North America Emerges Lucrative as Enhanced Commuter Experience Takes Centre Stage

The surge in North America is fuelled by substantial investments in updating ageing transportation networks, including tunnels for roads, and railways. Market growth in North America is further catalysed by a growing emphasis on sustainable practices and a focus on enhancing commuter experiences.

The region’s swift adoption of innovative TBMs and a robust consumer base drove this significant expansion. The transportation sector in North America has experienced significant growth due to the implementation of government initiatives aimed at promoting infrastructure development.

Such initiatives have not only attracted domestic and international players to contribute to the modernisation efforts but have also created a favourable investment environment. As a result, North America has witnessed a surge in construction projects and an increased demand for advanced tunneling technologies.

Key Companies in the Global Tunnel Boring Machine Market

  • China Railway Construction Heavy Industry Co. Ltd.
  • China Railway Engineering Equipment Group Co. Ltd.
  • 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.
  • Qinhuangdao TianyeTolian Heavy Industry Co. Ltd.
  • Robert Bosch GmbH
  • Continental AG
  • Panasonic Corporation
  • Garmin Ltd
  • AkkermanInc 

Global Tunnel Boring Machine Industry Analysis, Size, Share, Growth, Trends, and Forecast 2023-2030 – (By Machine Coverage, By Geology Coverage, By End-use Sector Channel Coverage, By Geographic Coverage and By Company): https://www.fairfieldmarketresearch.com/report/tunnel-boring-machine-market

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