According to the report, global hard rock tunnel boring machine market is projected to grow from USD 2,805.3 million in 2019 to USD 3,342.0 million by 2026, at a CAGR of 2.9% during the forecast period.
New York, NY, Oct. 27, 2020 (GLOBE NEWSWIRE) -- Facts and Factors has published a new research report titled “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”.
According to the research study, the global hard rock tunnel boring machine market is projected to grow from USD 2,805.3 million in 2019 to USD 3,342.0 million by 2026, at a CAGR of 2.9% during the forecast period.
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 through 47 Tables & 113 Figures spread over 180+ Pages and in-depth TOC on “Global Hard Rock Tunnel Boring Machine Market Size & Share 2020 Analysis by Applications and Types and Forecast to 2026”.
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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.
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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.
The report utilizes established industry analysis tools and models such as Porter’s Five Forces framework to analyze and recognize critical business strategies adopted by various stakeholders involved in the entire value chain of the hard rock tunnel boring machine industry. The hard rock tunnel boring machine market report additionally employs SWOT analysis and PESTLE analysis models for further in-depth analysis.
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The report study further includes an in-depth analysis of industry players' market shares and provides an overview of leading players' market position in the hard rock tunnel boring machine sector. Key strategic developments in the hard rock tunnel boring machine market competitive landscape such as acquisitions & mergers, inaugurations of different products and services, partnerships & joint ventures, MoU agreements, VC & funding activities, R&D activities, and geographic expansion among other noteworthy activities by key players of the hard rock tunnel boring machine market are appropriately highlighted in the report.
The tunnel boring machines are used for the manufacturing of the tunnels such as railroads, roads, etc. These machines are also known as mole. These machines are used to mine tunnels with a circular cross-section. Tunnel boring machines can bore through sand, hard rock, and almost anything in between. In rock, these machines are used as an alternative to the blasting and drilling method. These machines reduce the cost of tunnel lining and are suitable to use in a heavily urbanized area.
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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.
Top Market Players
Top key players operating in the Hard Rock Tunnel Boring Machine Market are Jim Technology Corporation, S.E.L.I. SPA, Qinhuangdao Tianye Tolian 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.
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This report segments the hard rock tunnel boring machine market as follows:
Global Hard Rock Tunnel Boring Machine Market: By Types Segmentation Analysis
· Negative Slope
· Positive Slope
Global Hard rock tunnel boring machine Market: By Application Segmentation Analysis
City Rail System
Railway and Highway
Others (Power and Energy, Underground Storage Facilities including Petroleum and Nuclear Waste Repositories)
Global Hard rock tunnel boring machine Market: Regional Segmentation Analysis
Rest of Europe
Rest of Asia Pacific
Rest of Latin America
Middle East & Africa
Rest of Middle East & Africa
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