29-Oct-2020 | Facts and Factors
Findings from Facts and Factors report “Hard Rock Tunnel Boring Machine Market By Type (Negative Slope, Positive Slope), and By Application (City Rail System, Railway and Highway, Municipal Engineering, Others (Power and Energy, Underground Storage Facilities including Petroleum and Nuclear Waste Repositories)): Global Industry Outlook, Market Size, Business Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends, and Forecasts, 2020–2026” states that the global hard rock tunnel boring machine market in 2019 was above USD 2,805.3million. The market is expected to grow above a CAGR of 2.9% and is anticipated to reach over USD 3,342.0 million by 2026.
Tunnel boring machines are special purpose machines, especially used in the construction of tunnels for pipelines, roads, and railroads. These devices are long with circular cross-sections and help with boring round holes in any rock. These machines may cut through rocks, often with the construction of concrete shields around the boring tunnels. Tunnel boring machines are complex structures with many devices operating in conjunction with each other. The diameter of tunnel boring machines varies from 1 meter to 20 meters.
Browse the full “Hard Rock Tunnel Boring Machine Market By Type (Negative Slope, Positive Slope), and By Application (City Rail System, Railway and Highway, Municipal Engineering, Others (Power and Energy, Underground Storage Facilities including Petroleum and Nuclear Waste Repositories)): Global Industry Outlook, Market Size, Business Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends, and Forecasts, 2020–2026" report at https://www.fnfresearch.com/hard-rock-tunnel-boring-machine-market
An increase in spending on road and railway infrastructure may foster the growth of the hard rock tunnel boring machine market. Increasing infrastructural activities in the emerging economy such as Japan, China, Italy, South Korea, Germany, and Norway have vast tunnel networks. Tunnel Boring Machine (TBM) can be used in the process of subway, tunnel, water conservancy project, mine, etc. Additionally, rising urbanization and technological innovations in shield tunnel boring machines are expected to boost the market in the future years. Moreover, governments of developing and developed countries are spending huge capital to enhance transportation infrastructure. Increasing the construction of new tunnels or underground passageways is envisioned to increase the use of shield tunnel boring machines in the future. However, the manufacturing of tunnel boring machines requires high cost as well as it is difficult to transport. Additionally, it requires a highly skilled and experienced team to operate these machines, these factors may restraint market growth. Nonetheless, innovations in advanced technology such as diamond wire as rock cutting technology, and high performance of the machine is expected to create lucrative opportunities in the market.
Key Segment Analysis: Hard Rock Tunnel Boring Machine Market
By type segment, the market is divided into a negative slope and a positive slope. Among these, the negative slope segment-headed the market with more than USD 1,500 million, in 2019 and it is expected to grow over the forecast period.
By the application segment, the market is classified into the city rail system, railway, and highway, municipal engineering, and others. In these, municipal engineering led the market with USD 1,189 million in 2019 and it is expected to increase during the forthcoming years. Additionally, the railway and highway segment is expected to boost the market in the future years owing to increased urbanization.
Regional Analysis: Hard Rock Tunnel Boring Machine Market
By geography, North America is experiencing massive demand for tunnel boring machines owing to significantly high tunnel construction operations. North American government is majorly focused on water pollution, sanitation, and improved water conveyance. The European region is expected to boost the market owing to the huge investment in transportation projects in these regions. Moreover, the Asia Pacific region is anticipated to boom the market over the forecast period attributed to the growing infrastructural development in the emerging economy of this region such as China, Japan, and India, etc.
Major Market Players
Top key players operating in the market are Jim Technology Corporation, S.E.L.I. SPA, Qinhuangdao TianyeTolian Heavy Industry Co., Ltd., Hitachi Zosen Corporation, Shanghai Tunnel Engineering Co., Ltd., Kawasaki Heavy Industries, Ltd., Herrenknecht AG, China Railway Engineering Equipment Group Co., Ltd., Tianhe Mechanical Equipment Manufacturing Co., Ltd., Lovsuns Tunneling Canada Ltd., Komatsu Ltd., Northern Heavy Industries Group Co., Ltd., and others.
This report segments the hard rock tunnel boring machine market as follows:
Global Hard Rock Tunnel Boring Machine Market: By Types Segmentation Analysis
Global Hard rock tunnel boring machine Market: By Application Segmentation Analysis
Global Hard rock tunnel boring machine Market: Regional Segmentation Analysis
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