Tunnel Boring Machine Market Extends at a Healthy CAGR of 6.2% by 2030

Introduction

Tunnel boring machines (TBMs) are equipment that drill tunnels through various rocks and soils. Primarily, tunnel boring machines are utilized to excavate coal mines and tunnels. It is anticipated that an increase in railway and highway infrastructure projects will accelerate the expansion of the global tunnel boring machine market. As more machines are used for water supply and disposal, oil and gas pipelines, and hydropower projects, the tunnel boring machine market is predicted to increase. TBM decreased the operational time necessary for construction activities relative to other traditional technologies, increasing its popularity. In addition, higher spending on road infrastructure and railway projects is projected to propel the global tunnel boring machine market.

Market Dynamics

Increased Adoption in Mining Industry Drives the Global Tunnel Boring Machine Market

The tunnel boring machine industry players have an excellent opportunity to increase their market presence in the mining sector by developing technologically advanced, high-quality products. New developments are expected to make the operation of TBM in mining operations easier and more convenient. There is an increase in the need for TBM for underground mining operations, owing to the reduction of surface deposits globally and increased awareness of environmental impacts. In comparison with conventional methods, TBMs require fewer workers.

Technological Advancements through Automation and Rock Cutting Technology Create New Market Opportunities

Technological advances in tunnel boring machines will drive market expansion in the coming years. Automation promotes productivity, enhances safety, optimizes resource utilization, and reduces labor expenses. In water jet and diamond wire technology, high-pressure waterjets and diamond wire cutting are utilized for rock extraction.

Similarly, ZigBee-based wireless sensor networks are utilized for data transfer during tunneling operations. The collection and processing of real-time data assists project managers and TBM operators. In April of 2019, for instance, Master Drilling provided Northam Platinum with a mobile tunnel boring machine. This tunnel boring machine used in mining is equipped with a wireless sensor network. The capacity of the cutter head on this tunnel-boring equipment is 17-inch disc cutters. This tunnel boring machine has a diameter of 5.5 meters.

Regional Insights

Asia-Pacific is the highest revenue contributor and is estimated to grow at a CAGR of 6.7% during the forecast period. Due to rising population, fast urbanization, and strong economic growth, countries such as China, India, and others are launching several measures to support large-scale tunneling projects for railways and highways in the region. Such factors drive the tunnel machine boring market forward. Furthermore, many ongoing metro project developments in India are expected to boost demand for tunnel boring machines in the near future. Also, several manufacturers in the Asia-Pacific area are concentrating on developing advanced tunnel boring machines to enhance the region's market growth. 

Europe is the second-largest region. The Europe tunnel boring machine market is projected to reach USD 2410 million by 2030, growing at a CAGR of 6%. Due to Europe's economic growth and considerable infrastructure investment, various prominent enterprises are producing tunnel boring machines for efficient and trustworthy operations. Furthermore, the tunnel boring machine market is expanding due to increased road infrastructure and railway pipeline projects in Eastern Europe. Eastern European countries like Bulgaria, Poland, and others are projected to improve transportation infrastructure spending, increasing the demand for TBMs.

North America is the third largest region. The increase in road construction activities increases the number of tunneling activities worldwide, fueling the expansion of the tunnel boring machine market. For example, in June 2017, the Indiana government authority began building a roughly 5-mile tunnel to prevent wastewater from overflowing into local waterways. This tunnel was constructed to convey sewage from the sewer system to the sewage treatment plant. Furthermore, there are numerous active tunnel projects in the United States to construct highways, railways, and water management systems. An increase in micro tunneling projects in Canada also drives the expansion of the small-diameter double shield TBM and direct pipe TBM markets.

Key Highlights

• The global tunnel boring machine market was worth USD 5,995 million in 2021. It is estimated to reach USD 10,300 million by 2030, growing at a CAGR of 6.2% during the forecast period (2022–2030). 

• By machine type, the global tunnel boring machine market is categorized into Slurry TBM, Shielded TBM, Multi-Mode TBM, Earth Pressure Balance Shield TBM, and Others. The Slurry TBM segment is the highest contributor to the market and is estimated to grow at a CAGR of 5.9% during the forecast period.
• By geology type, the global tunnel boring machine market is classified Into Soft Ground, Hard Rock Ground, Heterogeneous Ground, and Uneven Ground. The Heterogeneous Ground segment is the highest contributor to the market and is estimated to grow at a CAGR of 5.3% during the forecast period.
• By end-user, the global tunnel boring machine market is divided into Road Transport, Metro & Transit, Utilities, Mining, Railway Transport, Oil & Gas, and Others. The Metro & Transit segment is the highest contributor to the market and is estimated to grow at a CAGR of 7.1% during the forecast period.
• By region, the global tunnel boring machine market analysis is conducted across North America, Europe, Asia-Pacific, and LAMEA. Asia-Pacific leads the global market.

Competitive Players

1. Akkerman inc.
2. Amberg Engineering
3. Dalian huarui heavy industry group co., ltd
4. Herrenknecht AG
5. Hitachi Zosen Corporation
6. IHI Corporation
7. Kawasaki Heavy Industries, Ltd.
8. Komatsu Ltd.
9. Northern Heavy Industries Group Co., ltd (The Robbins Company, inc.)
10. Qinhuangdao Tianye Tolian Heavy Industry & Technology Co., Ltd.
11. Sika AG
12. TERRATEC LTD
13. Tunnel Engineering Services (UK) Ltd
14. XCMG Group

Recent Developments

• June 2022 - Kawasaki Heavy Industries, Ltd. announced the delivery of the 84,000 m3 LPG carrier CRYSTAL OASIS (Kawasaki hull No. 1752) to KUMIAI NAVIGATION (PTE) LTD. The business has built its 67th LPG transporter.
• June 2022 - Kawasaki Heavy Industries, Ltd. announced the delivery of the bulk carrier PHILHOKUSAI (Kawasaki hull No. 8083, DACKS hull No. 117) at the Dalian COSCO KHI Ship Engineering Co., Ltd. (DACKS), which is located in Dalian City, China and is operated in collaboration with China COSCO Shipping Corporation Limited (China COSCO Shipping).

Segmentation

1. By Machine Type
   1. Slurry TBM
   2. Earth Pressure Balance Shield TBM
   3. Shielded TBM
   4. Multi-mode TBM
   5. Others
2. By Geology Type
   1. Soft Ground
   2. Hard Rock Ground
   3. Heterogenous Ground
   4. Variable Ground
3. By End-User
   1. Road Transport
   2. Railway Transport
   3. Metro & Transit
   4. Utilities
   5. Mining
   6. Oil & Gas
   7. Others