[Research Report] The tunnel boring machine market was valued at US$ 6,236.13 million in 2019 and is projected to reach US$ 9,434.24 million by 2027; it is expected to grow at a CAGR of 5.7% from 2020 to 2027.
A tunnel boring machine is used to excavate tunnels. The machine can bore through numerous ground conditions such as soft ground, hard rock, variable, and heterogeneous ground. The tunnel diameters can range from 1 meter to ~16 meters. The machine is incorporated with an innovative navigation system to ensure that it digs precisely along the tunnel alignments. It is scrutinized 24 hours a day, seven days a week, and fully equipped with staff facilities. The machine is effective for catering smooth cut, together with constructing concrete shields around the bored tunnels. The largest diameter tunnel boring machine, at 15.43 meters, was designed by German-based Herrenknecht AG for a project in Shanghai, China. The machine consists of one or two shields and trailing support tools. At the front end of the shield is a rotating cutting wheel, whereas behind the cutting wheel is a chamber. Tunnel boring machines are deployed in several major industries. The successful application of this machine depends on selecting a suitable equipment and cutting tools for the ground conditions to be encountered.
Growth in road infrastructure is one of the significant factors propelling the growth of the tunnel boring machine market. Rising government investment in railway projects is anticipated to drive the global tunnel boring machine market during the forecast period. For instance, construction of the Fehmarnbelt tunnel between Denmark and Germany initiated on January 2021 in Denmark. The project will be completed by 2029. The project would allow the development of the longest combined road and rail immersed tube tunnel across the globe. In June 2019, China Railway Engineering Equipment Group Co., Ltd. introduced its tunnel boring machine, which exported to Italy for a railway project connecting Milan and Verona. The machine has a diameter of 10.03 meters and a length of 155 meters; it weighs 1,800 tons. Rising levels of industrialization and urbanization in developing countries due to population growth coupled with upgrade in tunnel infrastructure and rise in tunnel safety regulations are also expected to boost the growth of the tunnel boring machine market during 2020 to 2027.
Impact of COVID-19 Pandemic on Tunnel Boring Machine Market
North America has the highest adoption and growth rate of new technologies owing to favourable government policies to boost innovation and strengthen the infrastructure capabilities. Hence, any hindrance on industries hampers the economic growth of the region. Presently, the US is the world’s worst affected country due to the COVID-19 outbreak thereby influencing the sudden stands still across all industries such as manufacturing and automotive amongst others. It is becoming apparent with the COVID-19 pandemic spreading across the US that a few can escape its scope, presenting significant challenges to all industries. However, the major adoption of the technology across the region is noticed in the manufacturing sector where the same is applied for converting traditional manufacturing processes into smart ones. Thus, the closure of all manufacturing units across countries such as the US, Canada, and Mexico is expected to impact the growth of the tunnel boring machine market negatively.
Lucrative Regions for Tunnel Boring Machine Providers
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Tunnel Boring Machine Market Insights
Growth in Road Infrastructure Projects
The global road infrastructure and construction industry is growing at an impressive pace due to rising population and urbanization levels, especially in the developed and developing regions of the world. Rising government expenditure on infrastructure and swiftly growing road network expansions across all the countries are driving the global market. Spending on new transport infrastructure in various potential countries and upgrade of existing infrastructure are fueling the demand for tunnel boring machines. Infrastructure upgrading activities, development of smart cities, and rise in trend of tunnel automation are some of the major factors fueling the global market. Several governments of major countries are involved in designing tunnels for smooth road transport and reduced travel times.
Increased Focus toward Microtunneling
Tunnel boring machines usually have diameters from 5–17 meters. Microtunnel boring machines are smaller, with an excavation diameter of ~4 meters. At present, microtunnel activities are widely used to construct several kilometers of underground infrastructure globally. It is considered a fast alternative to traditional pipe installation systems. It is an automated process of boring and pipe installation used for excavation utility facilities, such as wastewater, freshwater, oil & gas, communications, and electricity. These machines are rising worldwide since they create less environmental impact compared to conventional excavation methods. Microtunnels have grown in North America to replace aging infrastructure in the US. The requirement for enhanced infrastructure across North America is robust and stronger as the existing utility systems are aging.
Tunnel Boring Machine Market, by Geology – 2019 and 2027
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Type-Based Market Insights
Based on type, the global tunnel boring machine market is bifurcated into Slurry TBM, Earth Pressure Balance Shield TBM, Open Gripper TBM, Shielded TBM, Multi-Mode TBM, and Other Types. The slurry TBM segment led the tunnel boring machine market. A slurry tunnel boring machine is used when the ground conditions are rough with high water pressure. It is ideal for digging soils with high water content. This machine is integrated with a slurry system that manages the pressure in the excavation face by inserting pressurized slurry into the cutter chamber. Further, slurry machines are highly installed in major projects across the world. For instance, in September 2017, Robbins’s slurry tunnel boring machine was installed for Mumbai metro line 3 with a diameter of 6.65 meters. The machine was deployed under contract UGC03 for the Dogus-Soma JV (DSJV) and started excavation in 2017.
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Tunnel Boring Machine Market: Strategic Insights
Market Size Value in US$ 6,236.13 Million in 2019 Market Size Value by US$ 9,434.24 Million by 2027 Growth rate CAGR of 5.7% from 2020-2027 Forecast Period 2020-2027 Base Year 2020
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Tunnel Boring Machine Market: Strategic Insights
| Market Size Value in | US$ 6,236.13 Million in 2019 |
| Market Size Value by | US$ 9,434.24 Million by 2027 |
| Growth rate | CAGR of 5.7% from 2020-2027 |
| Forecast Period | 2020-2027 |
| Base Year | 2020 |
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The players operating in the tunnel boring machine market focus on strategies such as mergers, acquisitions, product developments, and market initiatives to maintain their positions in the market. A few developments by key players are listed below:
- In 2020, the largest tunnel boring machine by Herrenknecht AG ever used in Europe successfully completed its drive in June. The supersize borer (Earth Pressure Balance Shield, diameter 15.87 meters) manufactured by Herrenknecht.
- In 2020, India’s largest diameter TBM was packed at China Railway Construction Heavy Industry Co., Ltd. The first industrial park in the Changsha city, central-south of China. It will pass through Shanghai Port to Mumbai for a coastal road project.
Tunnel Boring Machine Market – by Type
- Slurry TBM
- Earth Pressure Balance Shield TBM
- Open Gripper TBM
- Shielded TBM
- Multi-Mode TBM
- Other Types
Tunnel Boring Machine Market – by Geology
- Soft Ground
- Hard Rock Ground
- Variable Ground
- Heterogeneous Ground
Tunnel Boring Machine Market – by End-User
- Transportation,
- Metals & Mining
- Oil & Gas
- Other End-Users
Tunnel Boring Machine Market – by Geography
North America
- US
- Canada
- Mexico
Europe
- France
- Germany
- Italy
- UK
- Russia
- Rest of Europe
Asia Pacific (APAC)
- China
- India
- South Korea
- Japan
- Australia
- Rest of APAC
Middle East & Africa (MEA)
- South Africa
- Saudi Arabia
- UAE
- Rest of MEA
South America (SAM)
- Brazil
- Argentina
- Rest of SAM
Company Profiles
- China Railway Construction Heavy Industry Co., Ltd.
- CREG TBM Germany GmbH
- DALIAN HUARUI HEAVY INDUSTRY GROUP CO., LTD.
- Herrenknecht AG
- Hitachi Zosen corporation
- IHI Corporation
- Kawasaki Heavy Industries, Ltd.
- Komatsu Ltd.
- The Robbins Company
- TERRATEC Ltd.
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Type , Geology , and End-User
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States
Frequently Asked Questions
The tunnel boring machine market was dominated by APAC in 2019. China and Japan are the leading countries in the APAC tunnel boring machine market. The key reason behind significant demand in the aforementioned countries is the steep rise in government investment for the development of road and rail line infrastructure, including the construction of various tunnels in the route.
The global road infrastructure and construction industry is growing at an impressive pace due to rising population and urbanization levels, especially in the developed and developing regions of the world. Rising government expenditure on infrastructure and swiftly growing road network expansions across all the countries are driving the global market. Spending on new transport infrastructure in various potential countries and upgrade of existing infrastructure are fueling the demand for tunnel boring machines. Infrastructure upgrading activities, development of smart cities, and rise in trend of tunnel automation are some of the major factors fueling the global market.
The slurry TBM is the leading type in the market. A slurry tunnel boring machine is used when the ground conditions are rough with high water pressure. It is ideal for digging soils with high water content. This machine is integrated with a slurry system that manages the pressure in the excavation face by inserting pressurized slurry into the cutter chamber.
1. Introduction
1.1 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
1.3.1 Tunnel Boring Machine Market – By Type
1.3.2 Tunnel Boring Machine Market – By Geology
1.3.3 Tunnel Boring Machine Market – By End-User
1.3.4 Tunnel Boring Machine Market- By Region
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Tunnel Boring Machine Market Landscape
4.1 Market Overview
4.2 PEST Analysis
4.2.1 North America
4.2.2 Europe
4.2.3 Asia-Pacific
4.2.4 Middle East & Africa
4.2.5 South America
4.3 Ecosystem Analysis
4.4 Expert Opinion
5. Tunnel Boring Machine Market – Key Market Dynamics
5.1 Market Drivers
5.1.1 Growing Road Infrastructure Projects
5.1.2 Increasing Focus Toward Microtunneling
5.2 Market Restraints
5.2.1 High Financial Investment
5.3 Market Opportunities
5.3.1 Growing Rail Infrastructure Development Across APAC Countries
5.4 Future Trends
5.4.1 Technologically Advanced Tunnel Boring Machines
5.5 Impact Analysis of Drivers and Restraints
6. Tunnel Boring Machine Market – Global Analysis
6.1 Tunnel Boring Machine Market Global Overview
6.2 Tunnel Boring Machine Market – Revenue, and Forecast to 2027 (US$ Million)
6.3 Market Positioning – Five Key Players
7. Tunnel Boring Machine Market Analysis – By Type
7.1 Overview
7.2 Tunnel Boring Machine Market Breakdown, by Type, 2019 & 2027
7.3 Slurry TBM
7.3.1 Overview
7.3.2 Slurry TBM Market Revenue and Forecast to 2027 (US$ Million)
7.4 Earth Pressure Balance Shield TBM
7.4.1 Overview
7.4.2 Earth Pressure Balance Shield TBM Market Revenue and Forecast to 2027 (US$ Million)
7.5 Open Gripper TBM
7.5.1 Overview
7.5.2 Open Gripper TBM Market Revenue and Forecast to 2027 (US$ Million)
7.6 Shielded TBM
7.6.1 Overview
7.6.2 Shielded TBM Market Revenue and Forecast to 2027 (US$ Million)
7.7 Multi-Mode TBM
7.7.1 Overview
7.7.2 Multi-Mode TBM Market Revenue and Forecast to 2027 (US$ Million)
7.8 Other Types
7.8.1 Overview
7.8.2 Other Types Market Revenue and Forecast to 2027 (US$ Million)
8. Tunnel Boring Machine Market Analysis – By Geology
8.1 Overview
8.2 Tunnel Boring Machine Market Breakdown, by Geology, 2019 & 2027
8.3 Soft Ground
8.3.1 Overview
8.3.2 Soft Ground Market Revenue and Forecast to 2027 (US$ Million)
8.4 Hard Rock Ground
8.4.1 Overview
8.4.2 Hard Rock Ground Market Revenue and Forecast to 2027 (US$ Million)
8.5 Variable Ground
8.5.1 Overview
8.5.2 Variable Ground Market Revenue and Forecast to 2027 (US$ Million)
8.6 Heterogeneous Ground
8.6.1 Overview
8.6.2 Heterogeneous Ground Market Revenue and Forecast to 2027 (US$ Million)
9. Tunnel Boring Machine Market Analysis – By End-User
9.1 Overview
9.2 Tunnel Boring Machine Market Breakdown, by End-User, 2019 & 2027
9.3 Transportation
9.3.1 Overview
9.3.2 Transportation Market Revenue and Forecast to 2027 (US$ Million)
9.4 Metals & Mining
9.4.1 Overview
9.4.2 Metals & Mining Market Revenue and Forecast to 2027 (US$ Million)
9.5 Oil & Gas
9.5.1 Overview
9.5.2 Oil & Gas Market Revenue and Forecast to 2027 (US$ Million)
9.6 Other End-Users
9.6.1 Overview
9.6.2 Other End-Users Market Revenue and Forecast to 2027 (US$ Million)
10. Tunnel Boring Machine Market – Geographic Analysis
10.1 Overview
10.2 North America: Tunnel Boring Machine Market
10.2.1 North America: Tunnel Boring Machine Market – Revenue and Forecast to 2027 (US$ Million)
10.2.2 North America: Tunnel Boring Machine Market, By Type
10.2.3 North America: Tunnel Boring Machine Market, By Geology
10.2.4 North America: Tunnel Boring Machine Market, By End-User
10.2.5 North America: Tunnel Boring Machine Market, By Country
10.2.5.1 US: Tunnel Boring Machine Market – Revenue and Forecast to 2027 (US$ Million)
10.2.5.1.1 US: Tunnel Boring Machine Market, By Type
10.2.5.1.2 US: Tunnel Boring Machine Market, By Geology
10.2.5.1.3 US: Tunnel Boring Machine Market, By End-User
10.2.5.2 Canada: Tunnel Boring Machine Market – Revenue and Forecast to 2027 (US$ Million)
10.2.5.2.1 Canada: Tunnel Boring Machine Market, By Type
10.2.5.2.2 Canada: Tunnel Boring Machine Market, By Geology
10.2.5.2.3 Canada: Tunnel Boring Machine Market, By End-User
10.2.5.3 Mexico: Tunnel Boring Machine Market – Revenue and Forecast to 2027 (US$ Million)
10.2.5.3.1 Mexico: Tunnel Boring Machine Market, By Type
10.2.5.3.2 Mexico: Tunnel Boring Machine Market, By Geology
10.2.5.3.3 Mexico: Tunnel Boring Machine Market, By End-User
10.3 Europe: Tunnel Boring Machine Market
10.3.1 Europe: Tunnel Boring Machine Market – Revenue and Forecast to 2027 (US$ Million)
10.3.2 Europe: Tunnel Boring Machine Market, By Type
10.3.3 Europe: Tunnel Boring Machine Market, By Geology
10.3.4 Europe: Tunnel Boring Machine Market, By End-User
10.3.5 Europe: Tunnel Boring Machine Market, By Country
10.3.5.1 Germany: Tunnel Boring Machine Market – Revenue and Forecast to 2027 (US$ Million)
10.3.5.1.1 Germany: Tunnel Boring Machine Market, By Type
10.3.5.1.2 Germany: Tunnel Boring Machine Market, By Geology
10.3.5.1.3 Germany: Tunnel Boring Machine Market, By End-User
10.3.5.2 France: Tunnel Boring Machine Market – Revenue and Forecast to 2027 (US$ Million)
10.3.5.2.1 France: Tunnel Boring Machine Market, By Type
10.3.5.2.2 France: Tunnel Boring Machine Market, By Geology
10.3.5.2.3 France: Tunnel Boring Machine Market, By End-User
10.3.5.3 Italy: Tunnel Boring Machine Market – Revenue and Forecast to 2027 (US$ Million)
10.3.5.3.1 Italy: Tunnel Boring Machine Market, By Type
10.3.5.3.2 Italy: Tunnel Boring Machine Market, By Geology
10.3.5.3.3 Italy: Tunnel Boring Machine Market, By End-User
10.3.5.4 UK: Tunnel Boring Machine Market – Revenue and Forecast to 2027 (US$ Million)
10.3.5.4.1 UK: Tunnel Boring Machine Market, By Type
10.3.5.4.2 UK: Tunnel Boring Machine Market, By Geology
10.3.5.4.3 UK: Tunnel Boring Machine Market, By End-User
10.3.5.5 Russia: Tunnel Boring Machine Market – Revenue and Forecast to 2027 (US$ Million)
10.3.5.5.1 Russia: Tunnel Boring Machine Market, By Type
10.3.5.5.2 Russia: Tunnel Boring Machine Market, By Geology
10.3.5.5.3 Russia: Tunnel Boring Machine Market, By End-User
10.3.5.6 Rest of Europe: Tunnel Boring Machine Market – Revenue and Forecast to 2027 (US$ Million)
10.3.5.6.1 Rest of Europe: Tunnel Boring Machine Market, By Type
10.3.5.6.2 Rest of Europe: Tunnel Boring Machine Market, By Geology
10.3.5.6.3 Rest of Europe: Tunnel Boring Machine Market, By End-User
10.4 APAC: Tunnel Boring Machine Market
10.4.1 APAC: Tunnel Boring Machine Market – Revenue and Forecast to 2027 (US$ Million)
10.4.2 APAC: Tunnel Boring Machine Market, By Type
10.4.3 APAC: Tunnel Boring Machine Market, By Geology
10.4.4 APAC: Tunnel Boring Machine Market, By End-User
10.4.5 APAC: Tunnel Boring Machine Market, By Country
10.4.5.1 China: Tunnel Boring Machine Market – Revenue and Forecast to 2027 (US$ Million)
10.4.5.1.1 China: Tunnel Boring Machine Market, By Type
10.4.5.1.2 China: Tunnel Boring Machine Market, By Geology
10.4.5.1.3 China: Tunnel Boring Machine Market, By End-User
10.4.5.2 India: Tunnel Boring Machine Market – Revenue and Forecast to 2027 (US$ Million)
10.4.5.2.1 India: Tunnel Boring Machine Market, By Type
10.4.5.2.2 India: Tunnel Boring Machine Market, By Geology
10.4.5.2.3 India: Tunnel Boring Machine Market, By End-User
10.4.5.3 Japan: Tunnel Boring Machine Market – Revenue and Forecast to 2027 (US$ Million)
10.4.5.3.1 Japan: Tunnel Boring Machine Market, By Type
10.4.5.3.2 Japan: Tunnel Boring Machine Market, By Geology
10.4.5.3.3 Japan: Tunnel Boring Machine Market, By End-User
10.4.5.4 South Korea: Tunnel Boring Machine Market – Revenue and Forecast to 2027 (US$ Million)
10.4.5.4.1 South Korea: Tunnel Boring Machine Market, By Type
10.4.5.4.2 South Korea: Tunnel Boring Machine Market, By Geology
10.4.5.4.3 South Korea: Tunnel Boring Machine Market, By End-User
10.4.5.5 Australia: Tunnel Boring Machine Market – Revenue and Forecast to 2027 (US$ Million)
10.4.5.5.1 Australia: Tunnel Boring Machine Market, By Type
10.4.5.5.2 Australia: Tunnel Boring Machine Market, By Geology
10.4.5.5.3 Australia: Tunnel Boring Machine Market, By End-User
10.4.5.6 Rest of APAC: Tunnel Boring Machine Market – Revenue and Forecast to 2027 (US$ Million)
10.4.5.6.1 Rest of APAC: Tunnel Boring Machine Market, By Type
10.4.5.6.2 Rest of APAC: Tunnel Boring Machine Market, By Geology
10.4.5.6.3 Rest of APAC: Tunnel Boring Machine Market, By End-User
10.5 MEA: Tunnel Boring Machine Market
10.5.1 MEA: Tunnel Boring Machine Market – Revenue and Forecast to 2027 (US$ Million)
10.5.2 MEA: Tunnel Boring Machine Market, By Type
10.5.3 MEA: Tunnel Boring Machine Market, By Geology
10.5.4 MEA: Tunnel Boring Machine Market, By End-User
10.5.5 MEA: Tunnel Boring Machine Market, By Country
10.5.5.1 South Africa: Tunnel Boring Machine Market – Revenue and Forecast to 2027 (US$ Million)
10.5.5.1.1 South Africa: Tunnel Boring Machine Market, By Type
10.5.5.1.2 South Africa: Tunnel Boring Machine Market, By Geology
10.5.5.1.3 South Africa: Tunnel Boring Machine Market, By End-User
10.5.5.2 Saudi Arabia: Tunnel Boring Machine Market – Revenue and Forecast to 2027 (US$ Million)
10.5.5.2.1 Saudi Arabia: Tunnel Boring Machine Market, By Type
10.5.5.2.2 Saudi Arabia: Tunnel Boring Machine Market, By Geology
10.5.5.2.3 Saudi Arabia: Tunnel Boring Machine Market, By End-User
10.5.5.3 UAE: Tunnel Boring Machine Market – Revenue and Forecast to 2027 (US$ Million)
10.5.5.3.1 UAE: Tunnel Boring Machine Market, By Type
10.5.5.3.2 UAE: Tunnel Boring Machine Market, By Geology
10.5.5.3.3 UAE: Tunnel Boring Machine Market, By End-User
10.5.5.4 Rest of MEA: Tunnel Boring Machine Market – Revenue and Forecast to 2027 (US$ Million)
10.5.5.4.1 Rest of MEA: Tunnel Boring Machine Market, By Type
10.5.5.4.2 Rest of MEA: Tunnel Boring Machine Market, By Geology
10.5.5.4.3 Rest of MEA: Tunnel Boring Machine Market, By End-User
10.6 SAM: Tunnel Boring Machine Market
10.6.1 SAM: Tunnel Boring Machine Market – Revenue and Forecast to 2027 (US$ Million)
10.6.2 SAM: Tunnel Boring Machine Market, By Type
10.6.3 SAM: Tunnel Boring Machine Market, By Geology
10.6.4 SAM: Tunnel Boring Machine Market, By End-User
10.6.5 SAM: Tunnel Boring Machine Market, By Country
10.6.5.1 Brazil: Tunnel Boring Machine Market – Revenue and Forecast to 2027 (US$ Million)
10.6.5.1.1 Brazil: Tunnel Boring Machine Market, By Type
10.6.5.1.2 Brazil: Tunnel Boring Machine Market, By Geology
10.6.5.1.3 Brazil: Tunnel Boring Machine Market, By End-User
10.6.5.2 Argentina: Tunnel Boring Machine Market – Revenue and Forecast to 2027 (US$ Million)
10.6.5.2.1 Argentina: Tunnel Boring Machine Market, By Type
10.6.5.2.2 Argentina: Tunnel Boring Machine Market, By Geology
10.6.5.2.3 Argentina: Tunnel Boring Machine Market, By End-User
10.6.5.3 Rest of SAM: Tunnel Boring Machine Market – Revenue and Forecast to 2027 (US$ Million)
10.6.5.3.1 Rest of SAM: Tunnel Boring Machine Market, By Type
10.6.5.3.2 Rest of SAM: Tunnel Boring Machine Market, By Geology
10.6.5.3.3 Rest of SAM: Tunnel Boring Machine Market, By End-User
11. Tunnel Boring Machine Market-Impact of COVID-19 Pandemic
11.1 Overview
11.2 North America
11.3 Europe
11.4 Asia-Pacific
11.5 MEA
11.6 SAM
12. Industry Landscape
12.1 Overview
13. Company Profiles
13.1 China Railway Construction Heavy Industry Co., Ltd.
13.1.1 Key Facts
13.1.2 Business Description
13.1.3 Products and Services
13.1.4 Financial Overview
13.1.5 SWOT Analysis
13.1.6 Key Developments
13.2 CREG TBM Germany GmbH
13.2.1 Key Facts
13.2.2 Business Description
13.2.3 Products and Services
13.2.4 Financial Overview
13.2.5 SWOT Analysis
13.2.6 Key Developments
13.3 DALIAN HUARUI HEAVY INDUSTRY GROUP CO., LTD.
13.3.1 Key Facts
13.3.2 Business Description
13.3.3 Products and Services
13.3.4 Financial Overview
13.3.5 SWOT Analysis
13.3.6 Key Developments
13.4 Herrenknecht AG
13.4.1 Key Facts
13.4.2 Business Description
13.4.3 Products and Services
13.4.4 Financial Overview
13.4.5 SWOT Analysis
13.4.6 Key Developments
13.5 Hitachi Zosen corporation
13.5.1 Key Facts
13.5.2 Business Description
13.5.3 Products and Services
13.5.4 Financial Overview
13.5.5 SWOT Analysis
13.5.6 Key Developments
13.6 IHI Corporation
13.6.1 Key Facts
13.6.2 Business Description
13.6.3 Products and Services
13.6.4 Financial Overview
13.6.5 SWOT Analysis
13.6.6 Key Developments
13.7 Kawasaki Heavy Industries, Ltd.
13.7.1 Key Facts
13.7.2 Business Description
13.7.3 Products and Services
13.7.4 Financial Overview
13.7.5 SWOT Analysis
13.7.6 Key Developments
13.8 Komatsu Ltd.
13.8.1 Key Facts
13.8.2 Business Description
13.8.3 Products and Services
13.8.4 Financial Overview
13.8.5 SWOT Analysis
13.8.6 Key Developments
13.9 The Robbins Company
13.9.1 Key Facts
13.9.2 Business Description
13.9.3 Products and Services
13.9.4 Financial Overview
13.9.5 SWOT Analysis
13.9.6 Key Developments
13.10 TERRATEC Ltd.
13.10.1 Key Facts
13.10.2 Business Description
13.10.3 Products and Services
13.10.4 Financial Overview
13.10.5 SWOT Analysis
13.10.6 Key Developments
14. Appendix
14.1 About The Insight Partners
14.2 Word Index
LIST OF TABLES
Table 1. Tunnel Boring Machine Market – Revenue, and Forecast to 2027 (US$ Million)
Table 2. North America Tunnel Boring Machine Market, By Type – Revenue and Forecast to 2027 (US$ Million)
Table 3. North America Tunnel Boring Machine Market, By Geology – Revenue and Forecast to 2027 (US$ Million)
Table 4. North America Tunnel Boring Machine Market, By End-User – Revenue and Forecast to 2027 (US$ Million)
Table 5. US Tunnel Boring Machine Market, By Type – Revenue and Forecast to 2027 (US$ Million)
Table 6. US Tunnel Boring Machine Market, By Geology – Revenue and Forecast to 2027 (US$ Million)
Table 7. US Tunnel Boring Machine Market, By End-User – Revenue and Forecast to 2027 (US$ Million)
Table 8. Canada Tunnel Boring Machine Market, By Type – Revenue and Forecast to 2027 (US$ Million)
Table 9. Canada Tunnel Boring Machine Market, By Geology – Revenue and Forecast to 2027 (US$ Million)
Table 10. Canada Tunnel Boring Machine Market, By End-User – Revenue and Forecast to 2027 (US$ Million)
Table 11. Mexico Tunnel Boring Machine Market, By Type – Revenue and Forecast to 2027 (US$ Million)
Table 12. Mexico Tunnel Boring Machine Market, By Geology – Revenue and Forecast to 2027 (US$ Million)
Table 13. Mexico Tunnel Boring Machine Market, By Geology – Revenue and Forecast to 2027 (US$ Million)
Table 14. Europe Tunnel Boring Machine Market, By Type – Revenue and Forecast to 2027 (US$ Million)
Table 15. Europe Tunnel Boring Machine Market, By Geology – Revenue and Forecast to 2027 (US$ Million)
Table 16. Europe Tunnel Boring Machine Market, By End-User – Revenue and Forecast to 2027 (US$ Million)
Table 17. Germany Tunnel Boring Machine Market, By Type – Revenue and Forecast to 2027 (US$ Million)
Table 18. Germany Tunnel Boring Machine Market, By Geology – Revenue and Forecast to 2027 (US$ Million)
Table 19. Germany Tunnel Boring Machine Market, By End-User – Revenue and Forecast to 2027 (US$ Million)
Table 20. France Tunnel Boring Machine Market, By Type – Revenue and Forecast to 2027 (US$ Million)
Table 21. France Tunnel Boring Machine Market, By Geology – Revenue and Forecast to 2027 (US$ Million)
Table 22. France Tunnel Boring Machine Market, By End-User – Revenue and Forecast to 2027 (US$ Million)
Table 23. Italy Tunnel Boring Machine Market, By Type – Revenue and Forecast to 2027 (US$ Million)
Table 24. Italy Tunnel Boring Machine Market, By Geology – Revenue and Forecast to 2027 (US$ Million)
Table 25. Italy Tunnel Boring Machine Market, By End-User – Revenue and Forecast to 2027 (US$ Million)
Table 26. UK Tunnel Boring Machine Market, By Type – Revenue and Forecast to 2027 (US$ Million)
Table 27. UK Tunnel Boring Machine Market, By Geology – Revenue and Forecast to 2027 (US$ Million)
Table 28. UK Tunnel Boring Machine Market, By End-User – Revenue and Forecast to 2027 (US$ Million)
Table 29. Russia Tunnel Boring Machine Market, By Type – Revenue and Forecast to 2027 (US$ Million)
Table 30. Russia Tunnel Boring Machine Market, By Geology – Revenue and Forecast to 2027 (US$ Million)
Table 31. Russia Tunnel Boring Machine Market, By End-User – Revenue and Forecast to 2027 (US$ Million)
Table 32. Rest of Europe Tunnel Boring Machine Market, By Type – Revenue and Forecast to 2027 (US$ Million)
Table 33. Rest of Europe Tunnel Boring Machine Market, By Geology – Revenue and Forecast to 2027 (US$ Million)
Table 34. Rest of Europe Tunnel Boring Machine Market, By End-User – Revenue and Forecast to 2027 (US$ Million)
Table 35. APAC Tunnel Boring Machine Market, By Type – Revenue and Forecast to 2027 (US$ Million)
Table 36. APAC Tunnel Boring Machine Market, By Geology – Revenue and Forecast to 2027 (US$ Million)
Table 37. APAC Tunnel Boring Machine Market, By End-User– Revenue and Forecast to 2027 (US$ Million)
Table 38. China Tunnel Boring Machine Market, By Type – Revenue and Forecast to 2027 (US$ Million)
Table 39. China Tunnel Boring Machine Market, By Geology – Revenue and Forecast to 2027 (US$ Million)
Table 40. China Tunnel Boring Machine Market, By End-User – Revenue and Forecast to 2027 (US$ Million)
Table 41. India Tunnel Boring Machine Market, By Type – Revenue and Forecast to 2027 (US$ Million)
Table 42. India Tunnel Boring Machine Market, By Geology – Revenue and Forecast to 2027 (US$ Million)
Table 43. India Tunnel Boring Machine Market, By End-User – Revenue and Forecast to 2027 (US$ Million)
Table 44. Japan Tunnel Boring Machine Market, By Type – Revenue and Forecast to 2027 (US$ Million)
Table 45. Japan Tunnel Boring Machine Market, By Geology – Revenue and Forecast to 2027 (US$ Million)
Table 46. Japan Tunnel Boring Machine Market, By End-User – Revenue and Forecast to 2027 (US$ Million)
Table 47. South Korea Tunnel Boring Machine Market, By Type – Revenue and Forecast to 2027 (US$ Million)
Table 48. South Korea Tunnel Boring Machine Market, By Geology – Revenue and Forecast to 2027 (US$ Million)
Table 49. South Korea Tunnel Boring Machine Market, By End-User – Revenue and Forecast to 2027 (US$ Million)
Table 50. Australia Tunnel Boring Machine Market, By Type – Revenue and Forecast to 2027 (US$ Million)
Table 51. Australia Tunnel Boring Machine Market, By Geology – Revenue and Forecast to 2027 (US$ Million)
Table 52. Australia Tunnel Boring Machine Market, By End-User – Revenue and Forecast to 2027 (US$ Million)
Table 53. Rest of APAC Tunnel Boring Machine Market, By Type – Revenue and Forecast to 2027 (US$ Million)
Table 54. Rest of APAC Tunnel Boring Machine Market, By Geology – Revenue and Forecast to 2027 (US$ Million)
Table 55. Rest of APAC Tunnel Boring Machine Market, By End-User – Revenue and Forecast to 2027 (US$ Million)
Table 56. MEA Tunnel Boring Machine Market, By Type – Revenue and Forecast to 2027 (US$ Million)
Table 57. MEA Tunnel Boring Machine Market, By Geology – Revenue and Forecast to 2027 (US$ Million)
Table 58. MEA Tunnel Boring Machine Market, By End-User – Revenue and Forecast to 2027 (US$ Million)
Table 59. South Africa Tunnel Boring Machine Market, By Type – Revenue and Forecast to 2027 (US$ Million)
Table 60. South Africa Tunnel Boring Machine Market, By Geology – Revenue and Forecast to 2027 (US$ Million)
Table 61. South Africa Tunnel Boring Machine Market, By End-User – Revenue and Forecast to 2027 (US$ Million)
Table 62. Saudi Arabia Tunnel Boring Machine Market, By Type – Revenue and Forecast to 2027 (US$ Million)
Table 63. Saudi Arabia Tunnel Boring Machine Market, By Geology – Revenue and Forecast to 2027 (US$ Million)
Table 64. Saudi Arabia Tunnel Boring Machine Market, By End-User – Revenue and Forecast to 2027 (US$ Million)
Table 65. UAE Tunnel Boring Machine Market, By Type – Revenue and Forecast to 2027 (US$ Million)
Table 66. UAE Tunnel Boring Machine Market, By Geology – Revenue and Forecast to 2027 (US$ Million)
Table 67. UAE Tunnel Boring Machine Market, By End-User – Revenue and Forecast to 2027 (US$ Million)
Table 68. Rest of MEA Tunnel Boring Machine Market, By Type – Revenue and Forecast to 2027 (US$ Million)
Table 69. Rest of MEA Tunnel Boring Machine Market, By Geology – Revenue and Forecast to 2027 (US$ Million)
Table 70. Rest of MEA Tunnel Boring Machine Market, By End-User – Revenue and Forecast to 2027 (US$ Million)
Table 71. SAM Tunnel Boring Machine Market, By Type – Revenue and Forecast to 2027 (US$ Million)
Table 72. SAM Tunnel Boring Machine Market, By Geology – Revenue and Forecast to 2027 (US$ Million)
Table 73. SAM Tunnel Boring Machine Market, By End-User – Revenue and Forecast to 2027 (US$ Million)
Table 74. Brazil Tunnel Boring Machine Market, By Type – Revenue and Forecast to 2027 (US$ Million)
Table 75. Brazil Tunnel Boring Machine Market, By Geology – Revenue and Forecast to 2027 (US$ Million)
Table 76. Brazil Tunnel Boring Machine Market, By End-User – Revenue and Forecast to 2027 (US$ Million)
Table 77. Argentina Tunnel Boring Machine Market, By Type – Revenue and Forecast to 2027 (US$ Million)
Table 78. Argentina Tunnel Boring Machine Market, By Geology – Revenue and Forecast to 2027 (US$ Million)
Table 79. Argentina Tunnel Boring Machine Market, By End-User – Revenue and Forecast to 2027 (US$ Million)
Table 80. Rest of SAM Tunnel Boring Machine Market, By Type – Revenue and Forecast to 2027 (US$ Million)
Table 81. Rest of SAM Tunnel Boring Machine Market, By Geology – Revenue and Forecast to 2027 (US$ Million)
Table 82. Rest of SAM Tunnel Boring Machine Market, By End-User – Revenue and Forecast to 2027 (US$ Million)
Table 83. List of Abbreviation
LIST OF FIGURES
Figure 1. Tunnel Boring Machine Market Segmentation
Figure 2. Tunnel Boring Machine Market Segmentation – By Geography
Figure 3. Global Tunnel Boring Machine Market Overview
Figure 4. Slurry TBM Segment Held the Largest Market Share in 2019
Figure 5. Soft Ground Segment Held the Largest Market Share in 2019
Figure 6. Transportation Segment Held the Largest Market Share in 2019
Figure 7. Asia Pacific to Show Great Traction During Forecast Period
Figure 8. North America
Figure 9. Europe
Figure 10. Asia-Pacific
Figure 11. Middle East & Africa
Figure 12. South America
Figure 13. Tunnel Boring Machine Market– Ecosystem Analysis
Figure 14. Expert Opinion
Figure 15. Tunnel Boring Machine Market Impact Analysis of Drivers and Restraints
Figure 16. Geographic Overview of Tunnel Boring Machine Market
Figure 17. Global: Tunnel Boring Machine Market – Revenue and Forecast to 2027 (US$ Million)
Figure 18. Tunnel Boring Machine Market Breakdown, by Type (2019 and 2027)
Figure 19. Slurry TBM Market Revenue and Forecast to 2027 (US$ Million)
Figure 20. Earth Pressure Balance Shield TBM Market Revenue and Forecast To 2027 (US$ Million)
Figure 21. Open Gripper TBM Market Revenue and Forecast To 2027 (US$ Million)
Figure 22. Shielded TBM Market Revenue and Forecast To 2027 (US$ Million)
Figure 23. Multi-Mode TBM Market Revenue and Forecast To 2027 (US$ Million)
Figure 24. Other Types Market Revenue and Forecast To 2027 (US$ Million)
Figure 25. Tunnel Boring Machine Market Breakdown, by Geology (2019 and 2027)
Figure 26. Soft Ground Market Revenue and Forecast to 2027 (US$ Million)
Figure 27. Hard Rock Ground Market Revenue and Forecast To 2027 (US$ Million)
Figure 28. Variable Ground Market Revenue and Forecast To 2027 (US$ Million)
Figure 29. Heterogeneous Ground Market Revenue and Forecast To 2027 (US$ Million)
Figure 30. Tunnel Boring Machine Market Breakdown, by End-User (2019 and 2027)
Figure 31. Transportation Market Revenue and Forecast to 2027 (US$ Million)
Figure 32. Metals & Mining Market Revenue and Forecast To 2027 (US$ Million)
Figure 33. Oil & Gas Market Revenue and Forecast To 2027 (US$ Million)
Figure 34. Other End-Users Market Revenue and Forecast To 2027 (US$ Million)
Figure 35. Global Tunnel Boring Machine Market Revenue Share, By Region (2019 and 2027)
Figure 36. North America: Tunnel Boring Machine Market – Revenue and Forecast to 2027 (US$ Million)
Figure 37. North America Tunnel Boring Machine Market Revenue Share, By Type (2019 and 2027)
Figure 38. North America Tunnel Boring Machine Market Revenue Share, By Geology (2019 and 2027)
Figure 39. North America Tunnel Boring Machine Market Revenue Share, By End-User (2019 and 2027)
Figure 40. North America Tunnel Boring Machine Market Revenue Share, By Country (2019 and 2027)
Figure 41. US: Tunnel Boring Machine Market – Revenue and Forecast to 2027 (US$ Million)
Figure 42. Canada: Tunnel Boring Machine Market – Revenue and Forecast to 2027 (US$ Million)
Figure 43. Mexico: Tunnel Boring Machine Market – Revenue and Forecast to 2027 (US$ Million)
Figure 44. Europe: Tunnel Boring Machine Market – Revenue and Forecast to 2027 (US$ Million)
Figure 45. Europe: Tunnel Boring Machine Market Revenue Share, By Type (2019 and 2027)
Figure 46. Europe: Tunnel Boring Machine Market Revenue Share, By Geology (2019 and 2027)
Figure 47. Europe: Tunnel Boring Machine Market Revenue Share, By End-User (2019 and 2027)
Figure 48. Europe: Tunnel Boring Machine Market Revenue Share, By Country (2019 and 2027)
Figure 49. Germany: Tunnel Boring Machine Market – Revenue and Forecast to 2027 (US$ Million)
Figure 50. France: Tunnel Boring Machine Market – Revenue and Forecast to 2027 (US$ Million)
Figure 51. Italy: Tunnel Boring Machine Market – Revenue and Forecast to 2027 (US$ Million)
Figure 52. UK: Tunnel Boring Machine Market – Revenue and Forecast to 2027 (US$ Million)
Figure 53. Russia: Tunnel Boring Machine Market – Revenue and Forecast to 2027 (US$ Million)
Figure 54. Rest of Europe: Tunnel Boring Machine Market – Revenue and Forecast to 2027 (US$ Million)
Figure 55. APAC: Tunnel Boring Machine Market – Revenue and Forecast to 2027 (US$ Million)
Figure 56. APAC: Tunnel Boring Machine Market Revenue Share, By Type (2019 and 2027)
Figure 57. APAC: Tunnel Boring Machine Market Revenue Share, By Geology (2019 and 2027)
Figure 58. APAC: Tunnel Boring Machine Market Revenue Share, By End-User (2019 and 2027)
Figure 59. APAC: Tunnel Boring Machine Market Revenue Share, By Country (2019 and 2027)
Figure 60. China: Tunnel Boring Machine Market – Revenue and Forecast to 2027 (US$ Million)
Figure 61. India: Tunnel Boring Machine Market – Revenue and Forecast to 2027 (US$ Million)
Figure 62. Japan: Tunnel Boring Machine Market – Revenue and Forecast to 2027 (US$ Million)
Figure 63. South Korea: Tunnel Boring Machine Market – Revenue and Forecast to 2027 (US$ Million)
Figure 64. Australia: Tunnel Boring Machine Market – Revenue and Forecast to 2027 (US$ Million)
Figure 65. Rest of APAC: Tunnel Boring Machine Market – Revenue and Forecast to 2027 (US$ Million)
Figure 66. MEA: Tunnel Boring Machine Market – Revenue and Forecast to 2027 (US$ Million)
Figure 67. MEA: Tunnel Boring Machine Market Revenue Share, By Type (2019 and 2027)
Figure 68. MEA: Tunnel Boring Machine Market Revenue Share, By Geology (2019 and 2027)
Figure 69. MEA: Tunnel Boring Machine Market Revenue Share, By End-User (2019 and 2027)
Figure 70. MEA: Tunnel Boring Machine Market Revenue Share, By Country (2019 and 2027)
Figure 71. South Africa: Tunnel Boring Machine Market – Revenue and Forecast to 2027 (US$ Million)
Figure 72. Saudi Arabia: Tunnel Boring Machine Market – Revenue and Forecast to 2027 (US$ Million)
Figure 73. UAE: Tunnel Boring Machine Market – Revenue and Forecast to 2027 (US$ Million)
Figure 74. Rest of MEA: Tunnel Boring Machine Market – Revenue and Forecast to 2027 (US$ Million)
Figure 75. SAM: Tunnel Boring Machine Market – Revenue and Forecast to 2027 (US$ Million)
Figure 76. SAM: Tunnel Boring Machine Market Revenue Share, By Type (2019 and 2027)
Figure 77. SAM: Tunnel Boring Machine Market Revenue Share, By Geology (2019 and 2027)
Figure 78. SAM: Tunnel Boring Machine Market Revenue Share, By End-User (2019 and 2027)
Figure 79. SAM: Tunnel Boring Machine Market Revenue Share, By Country (2019 and 2027)
Figure 80. Brazil: Tunnel Boring Machine Market – Revenue and Forecast to 2027 (US$ Million)
Figure 81. Argentina: Tunnel Boring Machine Market – Revenue and Forecast to 2027 (US$ Million)
Figure 82. Rest of SAM: Tunnel Boring Machine Market – Revenue and Forecast to 2027 (US$ Million)
Figure 83. Impact of COVID-19 Pandemic in North American Country Markets
Figure 84. Impact of COVID-19 Pandemic in Europe Country Markets
Figure 85. Impact of COVID-19 Pandemic in Asia Pacific Country Markets
Figure 86. Impact of COVID-19 Pandemic in MEA Country Markets
Figure 87. Impact of COVID-19 Pandemic in SAM Country Markets
The List of Companies - Tunnel Boring Machine Market
- China Railway Construction Heavy Industry Co., Ltd.
- CREG TBM Germany GmbH
- DALIAN HUARUI HEAVY INDUSTRY GROUP CO., LTD.
- Herrenknecht AG
- Hitachi Zosen corporation
- IHI Corporation
- Kawasaki Heavy Industries, Ltd.
- Komatsu Ltd.
- The Robbins Company
- TERRATEC Ltd.
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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