This report on the global Tunnel Boring Machine Market from Reports and Data provides a comprehensive analysis of the current and emerging market trends along with key industry developments to assist users, readers and investors in understanding market scenarios fully. The report offers in-depth information about market share, market revenue growth, market size, drivers, restraints, growth opportunities, limitations, top companies and market segmentation. The global tunnel boring machine market size was USD 6 Billion in 2022 and is expected to reach USD 8.54 Billion in 2032, and register a revenue CAGR of 4% during the forecast period. The necessity to relieve traffic congestion and the rising need for underground transportation infrastructure are major factors driving the market revenue growth. Growing urbanization and population in emerging countries have increased the demand for dependable and efficient transportation, which has increased the need for tunnels. A thorough primary and secondary research was conducted to formulate the report, and the data was verified by experts and experts in the field. Diagrams, graphs, tables, figures, and other pictorial presentations were used to present the data in a professional manner.
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Market Overview:
The growing investment in projects for underground transportation infrastructure, particularly in emerging countries, is one of the major factors driving revenue growth of the tunnel boring machine market. To relieve traffic congestion and shorten travel times, governments across the globe are concentrating on building high-speed Rail networks, metros, and other underground transit systems.
Over the past few years, the manufacturing and construction industry has steadily expanded in terms of revenue, and during the forecast period, 2023-2032, it is expected to grow at a robust rate. A number of factors have contributed to this, including rapid growth in the construction and building industries, rapid industrialization and urbanization across the globe, and technological advancements in manufacturing. Due to growing awareness of environmental impact and carbon emissions in recent years, green construction and energy efficient buildings have become increasingly popular. The global market is expected to grow during the forecast period due to factors such as a rapidly growing global population, changing lifestyle preferences, the increasing demand for smart buildings, an increase in renovations and reconstructions worldwide, and an increase in eco-friendly construction activities. Other factors expected to boost global market growth include rising disposable income, government schemes, and private investments to support manufacturing and construction industries.
Competitive Landscape:
- The global market comprises various market players operating at regional and global levels. These key players are adopting various strategies such as license agreements, partnerships, merger and acquisitions, collaborations, R&D investments, and joint ventures to gain robust footing in the market. Some of the major key companies operating in the global Tunnel Boring Machine Market Report include Caterpillar Inc.
- Robbins Company
- Herrenknecht AG
- Komatsu Ltd.
- Mitsubishi Heavy Industries Ltd.
- Cimic Group Limited
- Terratec Pty Ltd
- NFM Technologies
- Akkerman Inc.
- Liugong Machinery Co., Ltd.
- China Railway Construction Corporation Limited
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Tunnel Boring Machine Market Segmentation:
By Type Outlook:
· Slurry TBM
· Earth Pressure Balance TBM
· Shielded TBM
· Others
By Application Outlook:
· Road and Railway
· Metro and Transit
· Utilities
· Mining
· Others
Regional Outlook:
· North America (U.S., Canada, Mexico)
· Europe (Germany, U.K., Italy, France, BENELUX, Rest of Europe)
· Asia Pacific (China, India, Japan, South Korea, Rest of Asia Pacific)
· Latin America (Brazil, Rest of LATAM)
· Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)
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