Tunnel Boring Machines Market Size [2022-2029] | Industry Share, Trends, and Growth Forecast Analysis

Global Tunnel Boring Machines Market to Grow with Rising Adoption of Mechanical Boring Machines for Coal Mining Operations: Fortune Business Insights™

Pune, India, Dec. 12, 2022 (GLOBE NEWSWIRE) — The global Tunnel Boring Machines Market size is slated to swell considerably as major economies ramp up their spending on infrastructure. Investment in infrastructural development provides indications about a nation’s economic health as these investments are considered vital to create employment opportunities. Emerging economies are intensely formulating policies and plans of action to attract investment in infrastructure projects.

For instance, in December 2019, the Finance Minister of India announced that the government will be investing $1.5 trillion for infrastructure development in the country. The plan will include ongoing as well as pipeline projects in the road, railway, and energy sectors and the private sector is expected to account for around 23% of these investments. The other Asian behemoth, China, also announced plans to energize its infrastructure through an injection USD 163.2 billion. Successful completion of large infrastructure projects requires employment of huge machines for operations such as tunnel boring, which bodes well for this market.

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Fortune Business Insights™ shares the above information in its recent report, titled “Tunnel Boring Machines Market Size, Share & Industry Analysis, By Machine Type (Slurry-Type Shield Tunnel Boring machine, Boulder or Hard Rock Tunnel Boring machine, Specialized Shield Tunnel Boring Machines), By Application (Traffic Tunnelling, Utility Tunnelling), By End Users (Road Transport, Railway/Metro Transport, Utilities) and Regional Forecast, 2022-2029”. The other highlights of the report include:

  • Precise computation of market values;
  • 360-degree analysis of the regional and competitive dynamics shaping the market;
  • Exhaustive study of the all the possible market segments; and
  • Meticulous research into the different factors driving and restraining the market.

Key Industry Developments:

  • September 2019- Terratec Ltd. has entered into an agreement with Maharashtra Metro Rail Corporation Ltd. to ship four tunnel boring machines to India for Pune metro.
  •  May 2019: The Hague’s largest infrastructure project, Rotterdamsebaan, successfully reused the Mixshield tunnel boring machine made by Herrenknecht AG, the German construction equipment maker. The TBM was used in excavating the Victoria Boogie Woogie Tunnel in Netherlands.

Drivers & Restraints –

Steep Initial Costs May Stymie Market Growth

Tunnel boring machines (TBM), or “moles”, are machines deployed for excavation of tunnels. They are cylindrical in shape, which enables to perform circular cross section motions to cut through layers of rocks and sand. These machines have emerged as more efficient alternative to the conventional drilling and blasting, known for causing large disturbances in the regions surrounding the mined area. However, despite these advantages, TBMs suffer from a few drawbacks. For instance, the upfront cost of building a TBM is quite high and transporting these heavy machines to the project site only compounds this cost. These machines also consume massive amounts of power and are not energy-efficient. Furthermore, TBMs are not disaster-proof and considering their size and weight, any accidents caused by them would be severely damaging. For instance, in 2013, Bertha, the Hitachi Zosen-made TBM, collapsed while working on the Seattle Tunnel and its repairs delayed the $3.2 billion project by 2 years. Thus, these shortcomings can impede the smooth growth of this market.  

Asia-Pacific to Emerge as a Major Revenue-generating Region; Growth in Europe to Remain Steady

Asia-Pacific is expected to lead the tunnel boring machine market share during the forecast period as India and China launch new infrastructure development projects. Moreover, many Chinese manufacturers are providing TBMs at competitive prices which is augmenting the potential of this market. In Europe, large scale tunnelling projects are underway, especially in hilly countries such as Italy and Spain, which are fuelling the market in the region. Presence of global players will be the key growth driver for the market in North America.

Excavation of Challenging Terrains to be the Focus Area for Market Players

One of the top tunnel boring machines market trends is the increasing focus of companies to explore and excavate challenging topographies in different countries. This is aiding companies to expand their global footprint and provide innovative solutions to customers.

COVID-19 Impact –                                                   

COVID-19 had a Potential Impact On Market:

The economic impact of the COVID-19 pandemic had the potential to shock Tunnel Boring Machines Market . On the other hand, markets demonstrated remarkable resilience, first reacting rationally to lower demand by lowering prices and then returning to near-normal functioning. While the increase in emissions is concerning, many of the world’s largest carbon-emitting countries have recently announced long-term environmental policies to assist their economies in recovering from the COVID-19 pandemic and eventually achieving net-zero carbon emissions.

To get to know more about the short-term and long-term impact of COVID-19 on this market, please visit: https://www.fortunebusinessinsights.com/industry-reports/tunnel-boring-machines-market-101674


By Machine Type
  • Slurry-Type Shield Tunnel Boring machine
  • Earth Pressure Balance (EPB) Tunnel Boring Machine
  • Boulder or Hard Rock Tunnel Boring machine
  • Specialized Shield Tunnel Boring Machines
  • Hard Rock Tunnel Boring Machines
By Application
  • Traffic Tunnelling
    • Road Tunnelling
    • Railway/Metro Tunnelling
  • Utility Tunnelling
    • Water
    • Sewage
    • Hydropower
    • Pipelines
By End Users
  • Road Transport
  • Railway/Metro Transport
  • Utilities
  • Mining
  • Oil & Gas
  • Others
By Geography
  • North America (USA and Canada)
  • Europe (UK, Germany, France, Italy, Spain, Scandinavia and Rest of Europe)
  • Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
  • Middle East & Africa (South Africa, GCC and Rest of Middle East & Africa)
  • Latin America (Brazil, Mexico and Rest of Latin America)

Report Coverage –

The report covers an in-depth analysis on the Tunnel Boring Machines Market. The report comprises details on the growth opportunities, challenges, driving, and restraining factors. Furthermore, the report covers detail about the key market players adopting several growth strategies to sustain in the market.

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Prominent Players Covered in the Tunnel Boring Machines Market Report:

  • The Robbins Company  
  • Komatsu
  • Ishikawajima-Harima
  • Herrenknecht AG
  • Qinhuangdao Tianye Tolian Heavy Industry Co. Ltd.
  • Mitsubishi Heavy Industries, Ltd.
  • Kawasaki Heavy Industries, Ltd.
  • Hitachi Zosen Corporation
  • Terratec Ltd.

Regional Analysis:

The demand for tunnel boring machines is high in the hilly terrains such as Italy, Spain, and France, etc. Also, countries such as India, Brazil, and South Africa have started expanding the expenditure on roads and railways infrastructure. This increasing demand is anticipated to create new opportunities for manufacturers of tunnel boring machines globally.

Table of Content:

1. Introduction

1.1. Research Scope

1.2. Market Segmentation

1.3. Research Methodology

1.4. Definitions and Assumptions

2. Executive Summary

3. Market Dynamics

3.1. Market Drivers

3.2. Market Restraints

3.3. Market Opportunities

4. Key Insights

4.1 Key Industry Developments – Merger, Acquisitions, and Partnerships

4.2 Distribution Analysis

4.3 Porter’s Five Forces Analysis

4.4 PEST Analysis

4.5 Technological Developments

4.6 Impact of COVID-19


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