Global Tunnel Boring Machine (TBM) Market to Surpass USD 11.03 billion By 2031| Growth Market Reports

PUNE, India, June 12, 2023 /PRNewswire/ -- According to a recent market study published by Growth Market Reports, titled, "Global Tunnel Boring Machine (TBM) Market Segments - By Type (Soft Ground TBMs, Hard Rock TBMs, Others), Application (City Rail Systems, Railway and Highway, Municipal Engineering, and Others), Sales Channel (Direct Sales and Indirect Sales), and Region: Size, Share, Trends and Opportunity Analysis, 2023-2031", the market size was USD 6.99 billion in 2022 and is expected to surpass USD 11.03 billion expanding at a CAGR of 5.2% by the end of 2031. Growing popularity of micro tunneling is likely to propel the market during the forecast period.

Key Market Players Profiled in the Report

• China Railway Construction Heavy Industry Co., Ltd.
• DALIAN HUARUI HEAVY INDUSTRY GROUP CO., LTD
• Herrenknecht AG
• Liaoning Censcience Industry Co., Ltd
• Komatsu
• Robbins
• Normet
• E-Berk Tunneling & Foundation Technologies
• EM Korea
• China Railway Engineering Equipment Group Co., Ltd.
• Kawasaki Heavy Industries, Ltd
• IHI Corporation
• TERRATEC Ltd.
• Hitachi Zosen Corporation

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The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics. It provides an in-depth analysis of the market segments, which include type, application, sales channel, and competitor analysis.

This report also includes a complete analysis of industry players and covers their latest developments, product portfolio, pricing, mergers, acquisitions, and collaborations. Moreover, it provides crucial strategies that are helping market players to expand their market share.

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Highlights on the Segments of the Global Tunnel Boring Machine (TBM) Market

On the basis of region, the global Tunnel Boring Machine (TBM) market is classified as North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. North America is projected to dominate the global market due to the advancements in technology.

Europe is expected to be a rapidly growing region in the global market during the projected period due to the presence of key players.

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Key Takeaways from the Study:

• Tunnel boring machines provide services and solutions for excavation.
• These machines are used for micro tunneling, designed to bore through hard rock.
• Increasing disposable income supports various projects, which is expected to boost the market during the forecast period.
• Rising investments in road and railway infrastructure development is anticipated to fuel the market in the coming years.
• The city rail systems segment is projected to expand at the fastest CAGR during the forecast period. Tunnel boring machines are employed in the generation of connectivity for local stations.
• The municipal engineering segment is anticipated to hold a major share of the market as municipal engineers work on underground construction.
• The indirect sales segment is expected to dominate the market during the forecast period. Indirect sales allow business growth by using different channels.

Read 232 Pages Research Report with Detailed TOC on "Global Tunnel Boring Machine (TBM) Market Segments - by Type (Soft Ground TBMs, Hard Rock TBMs, Others), Application (City Rail Systems, Railway and Highway, Municipal Engineering, and Others), Sales Channel (Direct Sales and Indirect Sales), and Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast, 2023 – 2031"

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Key Segments Covered

Type

• Soft Ground TBMs
• Hard Rock TBMs
• Others

Application

• City Rail Systems
• Railway and Highway
• Municipal Engineering
• Others

Sales Channel

• Direct Sales
• Indirect Sales

Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

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