Tunnel Boring Machine Market Size Worth $9,434.24 Mn, Globally, by 2027 at 5.7% CAGR - Exclusive Report by The Insight Partners

NEW YORK, Dec. 9, 2021 /PRNewswire/ -- According to the new market research report "Tunnel Boring Machine Market Forecast to 2027 - COVID-19 Impact and Global Analysis By Type (Slurry TBM, Earth Pressure Balance Shield TBM, Open Gripper TBM, Shielded TBM, Multi-Mode TBM, and Other Types), Geology (Soft Ground, Hard Rock Ground, Variable Ground, and Heterogeneous Ground), and End-User (Transportation, Metals & Mining, Oil & Gas, and Other End-Users)", published by The Insight Partners, the global tunnel boring machine market size is projected to reach US$ 9,434.24 million by 2027 from US$ 6,236.13 million in 2019 to grow at a CAGR of 5.7% from 2020 to 2027.

Get Exclusive Sample Pages of Tunnel Boring Machine Market Size - COVID-19 Impact and Global Analysis with Strategic Insights at https://www.theinsightpartners.com/sample/TIPRE00005808/

Tunnel Boring Machine Market: Competition Landscape and Key Developments

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; Northern Heavy Industries Group Co., Ltd. (The Robbins Company); and Qinhuangdao Tianye Tolian Heavy Industry Co. Ltd. are among the key players that were profiled during this market study. The market players are focusing on product developments, partnerships, mergers and acquisitions, and collaborations for sustaining the competitive edge.

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 2019, CREG and METALLIANCE declared a strategic partnership in which all-round and in-depth cooperation in global tunnel projects and underground space development.

Tunnels are also widely preferred for facilitating rail transportation in subways and metros, especially in APAC countries. The construction, management, and maintenance of tunnels involves continuous monitoring of parameters such as ventilation, lighting, signaling, gas concentration, air velocity and direction, temperature, and emergency response. Developed economies such as Japan and Singapore, and emerging economies such as China, India, Vietnam, Malaysia, and Indonesia have widespread railway industries; thus, the demand for tunnel boring machines in the region is high. Governments are encouraging investments in rail infrastructure that comprises various tunnels in the route. In May 2019, a tunnel boring machine was deployed in the Bandung high-speed train project, Jakarta. The speed train is equipped with transit-oriented development to create new economic centers. The project is likely to be finished in 2021. The tunnel boring machine has been imported from China. Similarly, in February 2018, the S776 tunnel boring machine was installed in Malaysia.  An advanced variable density tunnel boring machine was deployed for excavated the 9.5-Km-long twin tunnels of the Sungai Buloh-Kajang Metro Rail Transit (MRT) Line, Malaysia, which serves ~120,000 travelers each day. The machine was designed by Herrenknecht, Germany, which has a manufacturing factory in China.

Download Sample PDF Brochure of Tunnel Boring Machine Market Size and Growth Research Report at https://www.theinsightpartners.com/sample/TIPRE00005808/

Growing Number of Rail Infrastructure Development Projects across APAC Drives Tunnel Boring Machine Market Growth:

Surge in rail projects in developed and developing countries and increasing investments in new infrastructure development are expected to offer ample growth opportunities to market players operating in the global tunnel boring machine market during the forecast period. A few examples of such projects in APAC countries are mentioned below:

In July 2019, Land Transport Authority, Singapore, rolled out a tunnel boring machine at Keppel MRT station to commence the first stage of tunneling for the Circle Line Stage 6 (CCL6) to complete the Circle Line Loop (CCL). The machine would tunnel from Keppel station to Harbour Front station by 2025. ~66% of the retaining and stabilizing structures of this project have been finished, and excavation works and structures are in progress.

Tunnel Boring Machine Market: Segmental Overview

Based on type, the tunnel boring machine market is segmented 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 in 2019. A slurry tunnel boring machine is used when the ground is in rough conditions such as high water pressure. It is ideal for digging soils with high water content. The slurry tunnel boring machine is integrated with a slurry system that manages the pressure in the excavation face by inserting pressurized slurry into the cutter chamber. 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 the excavation was started in 2017.

Buy Premium Copy of Tunnel Boring Machine Market Size, Share, Revenue, Strategic Insights and Forecasts 2020-2027 Research Report at https://www.theinsightpartners.com/buy/TIPRE00005808/ 

About Us:

The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.

Contact Us:

If you have any queries about this report or if you would like further information, please contact us:
Contact Person: Sameer Joshi
E-mail: [email protected] 
Phone: +1-646-491-9876
Press Release: https://www.theinsightpartners.com/pr/tunnel-boring-machine-market
More Research: https://www.openpr.com/news/archive/139407/The-Insight-Partners.html

SOURCE The Insight Partners