Tunneling Machinery Market Size, Share, Growth, and Industry Growth by Type (TBMsand Road header) By Application (Coal Mine and Rock, Municipal Engineering, Railway and Highway, and Others), Regional Forecast To 2031

Updated On: 15 April 2024

Tunneling Machinery Market REPORT OVERVIEW

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global tunneling machinery market size was USD 5430.8 Million in 2021 and market is projected to touch 8433.87 Million by 2031, exhibiting a CAGR of 4.5% during the forecast period.

A tunnel boring machines are machines which is used to excavate tunnels. The machines are used for micro tunneling. They are usually excavating tunnels with a circular cross section through a several of rock strata and soil.

High demand for underground construction and rise in demand for rock mining sector is predicted to expand market progress. Huge need for micro-tunneling for water management system in urban areas is predicted to fuel market growth. Further, rise in spending on railways and road infrastructure and growing urbanization is anticipated to drive market growth. Several advantages offer by the machine such as lower cost, improved safety, better efficiency, and others. Growing adoption of the equipment in the coal sector is estimated to flourish market growth. Rapid technology advancement and increased investment by market players is predicted to surge market growth in the upcoming years. On the contrary, high installment costs and lack of flexibility is estimated to limit market growth. Also, presence of alternative tunneling methods and fluctuation of raw material prices are predicted to restrain market progress in the upcoming years.

COVID-19 Impact: Shutting of End-User Sector and Continues Fluctuation of Raw Material Prices to Halt Market Progress

Rapid spread of COVID-19 pandemic across the globe impacted several countries economic growth. Closure of boring machines manufacturer and lower demand for the machines to reduce market growth. Shutting of end-user sector and continues fluctuation of raw material prices is estimated to halt market progress. Supply and chain disruptions and lower requirement for infrastructural development. These factors are responsible to harm market growth during the pandemic period.

LATEST TRENDS

"High Adoption of the Machine in Mining Industry to Improve Market Growth"

The growing demand for the product in mining sector. The machines which is used to excavate tunnels. The machines are used for micro tunneling. They are usually excavating tunnels with a circular cross section through a several of rock strata and soil. High need for mining activities for industrial purpose is anticipated to propel tunneling machinery market growth in the upcoming years. rise in demand for rock mining sector is predicted to expand market progress. Increased industrialization and rise in disposable income is predicted to expand market progress.

Tunneling Machinery Market SEGMENTATION

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• By Type

Based on type, the market is divided into TBMs and road header.

Road header is expected to be the top part of the type segmentation

• By Application

Based on the application, the market is divided into coal mine and rock, municipal engineering, railway and highway, and others.

Coal mine and rock is expected to be the top part of application segmentation.

DRIVING FACTORS

"Growing Demand from Railway and Road Sectors to Boost Tunneling Machinery Adoption"

The rise in spending on railways and road infrastructure and growing urbanization is anticipated to drive market growth. Several advantages offer by the machine such as lower cost, improved safety, better efficiency, and others. Growing adoption of the equipment in the coal sector is estimated to flourish market growth. Rapid technology advancement and increased investment by market players is predicted to surge market growth in the upcoming years. The machines are used for excavation of tunnels and coal mines. Huge investment for railway projects and adoption of modern technology. In addition, growing number of railways projects are estimated to fuel market growth in the forthcoming years.

"Huge Need for Micro-Tunneling for Water Management System to Push Market Growth"

Huge need for micro-tunneling for water management system in urban areas is predicted to fuel market growth. High need for improve water-management systems and rapid urbanization is predicted to push market growth. High scale tunnel projects and high innovation in equipment’s are forecast to fuel market growth in the upcoming years.

RESTRAINING FACTORS

"High Installment Costs and Lack of Flexibility to Restrict Market Progress"

The high installment costs and lack of flexibility is estimated to limit market growth. Also, presence of alternative tunneling methods and fluctuation of raw material prices are predicted to restrain market progress in the upcoming years.  

Tunneling Machinery Market REGIONAL INSIGHTS

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"Major Manufacturer in The Asia Pacific to Drive Market Share "

Asia Pacific is anticipated to hold significant tunneling machinery market share owing to major manufacturer in the region. Leading revenue-generating and low cost machines availability is expected to boost market growth. Huge need for micro-tunneling for water management system in urban areas is predicted to fuel market growth. Further, rise in spending on railways and road infrastructure and growing urbanization is anticipated to drive market growth. Several advantages offer by the machine such as lower cost, improved safety, better efficiency, and others. Growing adoption of the equipment in the coal sector is estimated to flourish market growth. Rapid technology advancement and increased investment by market players is predicted to surge market growth in the upcoming years.

KEY INDUSTRY PLAYERS

"Leading Players Adopt New Strategies to Stay Competitive"

The report covers information about the list of market players and their latest development in the industry. The information includes mergers, partnerships, acquisitions, technological developments, and production lines. Other aspects examined for this market include complete research on companies producing and introducing the latest products, regions they conduct their operations in, automation, technology adoption, generating the most revenue, and making a difference with their products.

List of Market Players Profiled

• CREG (China)
• CRCHI (China)
• Herrenknecht (Germany)
• NHI (China)
• LNSS (China)
• Tianhe (China)
• JIMT (China)
• Komatsu (China)
• Hitachi Zosen (Japan)
• Terratec (China)
• Kawasaki (Japan)
• STEC (China)
• LXCE (China)
• Sandvik (China)
• SANY GROUP (China)
• XCMG (China)
• Antraquip (U.S.)
• Sunward (Belgium)
• BBM Group (U.S.)
• Famur (Poland)
• Mitsui Miike Machinery (Japan)
• Deilmann-Haniel Mining Systems (DHMS) (Germany)
• MSB Schmittwerke (Germany)

REPORT COVERAGE

This research profiles a report with general studies that explain the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by examining the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, restraints, and others. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.