Tunnel Boring Machine Market size is estimated to be USD 6.5 Billion in 2024 and is expected to reach USD 10.2 Billion by 2033 at a CAGR of 5.3% from 2026 to 2033.
The global Tunnel Boring Machine (TBM) market was valued at approximately USD 5.85 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of around 6.5% during the forecast period from 2023 to 2030. North America accounted for a significant share in the TBM market in 2022, with a market size estimated at USD 1.35 billion. The region is expected to continue its dominance due to substantial investments in infrastructure projects, including transportation and water supply systems. Europe is also a key player, contributing a market value of USD 1.2 billion in 2022, driven by advancements in tunneling technology and increasing demand for underground transportation systems. In the Asia Pacific region, the market was valued at USD 2.3 billion in 2022, reflecting the rapid urbanization and major infrastructure projects in countries like China and India, which are expected to propel the demand for TBMs in the coming years.
The Middle East and Africa region accounted for a market size of around USD 0.6 billion in 2022, primarily driven by large scale infrastructure projects in countries like the UAE and Saudi Arabia. The Latin American region represented a relatively smaller share of the market, with a value of USD 0.3 billion in 2022. However, with rising urbanization and transportation developments, the region is anticipated to experience steady growth over the forecast period. The overall market is witnessing ample opportunities due to the growing need for efficient and cost effective tunneling solutions in both developed and developing regions. The rising trend of smart cities and sustainability initiatives across the globe is expected to further enhance TBM market prospects.
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Herrenknecht
CREC
CRCHI
Robbins
Tianhe
Wirth
Komatsu
Mitsubishi
NHI
Kawasaki
Ishikawajima - Harima
Terratec
SELI
Tianye Tolian
Hitachi Zosen Corporation
Xugong Kaigong
STEC
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By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global Tunnel Boring Machine Market
Earth Pressure Balance Tunnel Boring Machines (EPB-TBM)
Slurry Tunnel Boring Machines (Slurry TBM)
Open Face Tunnel Boring Machines (OF-TBM)
Double Shield Tunnel Boring Machines (DS-TBM)
Single Shield Tunnel Boring Machines (SS-TBM)
Mining
Transportation
Water & Sewage
Energy & Utilities
Urban Infrastructure
Small Tunnel Boring Machines
Medium Tunnel Boring Machines
Large Tunnel Boring Machines
Construction Companies
Mining Companies
Government Agencies
Engineering & Design Firms
Equipment Rental & Leasing Companies
Automated Tunnel Boring Machines
Conventional Tunnel Boring Machines
Robotic Tunnel Boring Machines
US (United States, US and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global Tunnel Boring Machine Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global Tunnel Boring Machine Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Tunnel Boring Machine Market, By Type
6. Global Tunnel Boring Machine Market, By Application
7. Global Tunnel Boring Machine Market, By Geography
US
Europe
Asia Pacific
Rest of the World
8. Global Tunnel Boring Machine Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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