Tunnel Boring Machine Market to Hit $ 9,434.24 Million by 2027 at 5.7% CAGR - Global Analysis by The Insight Partners

According to The Insight Partners research reports on Tunnel Boring Machine can help you gain crucial insights regarding the key drivers and opportunities.

NEW YORK, UNITED STATES, April 25, 2023 /EINPresswire.com/ -- According to our latest market study on “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),” The tunnel boring machine market was valued at US$ 6,236.13 million in 2019 and is projected to reach US$ 9,434.24 million by 2027; it is expected to grow at a CAGR of 5.7% from 2020 to 2027.

Tunnels are widely used for rail transportation in subways and metros across various APAC countries. Proper construction, management, and maintenance of tunnel systems comprise monitoring of multiple parameters such as ventilation, lighting, signaling, gas concentration, air velocity & direction, temperature, and emergency response. Several developed economies, such as Japan and Singapore and emerging economies—such as China, India, Vietnam, Malaysia, and Indonesia—are experiencing growth in the railway industry; thus, the demand for tunnel boring machines is increasing in the region. Governments across the region are investing in rail infrastructure that comprises various tunnels in the route and is well equipped with smart devices.

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Companies Profiled in this report includes: Herrenknecht AG, Kawasaki Heavy Industries, Ltd., Komatsu Ltd., China Railway Group Limited, and Hitachi Zosen Corporation

The overall tunnel boring machine market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. The process also serves the purpose of obtaining an overview and forecast for the tunnel boring machine market with respect to all the segments. It also provides the overview and forecast for the market based on all the segmentation provided with respect to five major regions—North America, Europe, Asia Pacific, Middle East & Africa, and South America. Also, primary interviews were conducted with industry participants and commentators to validate data, as well as to gain more analytical insights into the topic. The participants of this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants, such as valuation experts, research analysts, and key opinion leaders, specializing in the tunnel boring machine market.

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Key findings of study:

Technological developments are of greater use in tunnel construction since they allow easy access to construction in any ground conditions. Innovative monitors and sensors placed in the tunnel boring machines help in the smooth functioning of machines while excavating. Large diameter tunnel projects for transport infrastructures have influenced the research and development in tunnel boring machine design. Advanced machines can cope with mixed rock/ground conditions and change their operational mode depending on ground conditions. Large machines with diameters ranging from 14 to 17 meters have been manufactured and utilized across the world. Innovative technologies are being developed in various countries to treat the ground ahead of the machine and control the groundwater inflows.

Variable density tunnel boring machines is a next-gen multimodal machine used for soft soils. Without significant mechanical adaptations, variable density machines merge the basic technologies of enclosed soft ground tunnel boring machines, maintaining control of pressure on the face. These machines are used as a slurry pressure tunnel boring machine using an air bubble system in order to control face pressure and an earth balance pressure mode. Lately, these machines have been deployed for various major projects since they have the ability to work in different ground conditions. For instance, in May 2020, For the HS2 project, the UK’s variable density tunnel boring machines were used to help overcome the ground condition challenges. These advanced machines have been used on Ulm railway project, Germany; the Hallandsas rail tunnel, Sweden; and the Kland Valley MRT project, Malaysia.

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