Tunnel Boring Machine Market to Reach $7.55 Bn, Globally, by 2027 at 6.0% CAGR

Tunnel Boring Machine Market to Reach $7.55 Bn, Globally, by 2027 at 6.0% CAGR

PR Newswire

PORTLAND, Ore., Feb. 9, 2021

- Rise in traffic infrastructure projects, growing focus toward micro-tunneling, and surge in its adoption in mining industry fuel the growth of the global tunnel boring machine market.

PORTLAND, Ore., Feb. 9, 2021 /PRNewswire/ -- Allied Market Research published a report, titled, "Tunnel Boring Machine Market by Machine Type (Slurry TBM, Earth Pressure Balance Shield TBM, Shielded TBM, Multi-Mode TBM, and Others), Geology Type (Soft Ground, Hard Rock Ground, Heterogeneous Ground, and Variable Ground), and End User (Road Transport, Railway Transport, Metro & Transit, Utilities, Mining, Oil & Gas, and Others): Global Opportunity Analysis and Industry Forecast, 2020–2027." According to the report, the global tunnel boring machine industry was estimated at $5.47 billion in 2019 and is anticipated to hit $7.55 billion by 2027, registering a CAGR of 6.0% from 2020 to 2027.

Allied_Market_Research_Logo

Drivers, restraints, and opportunities-

Rise in traffic infrastructure projects, growing focus toward micro-tunneling, and surge in its adoption in mining industry fuel the growth of the global tunnel boring machine market. On the other hand, high cost for investments, lack of flexibility, and fluctuation in raw material prices restrain the growth to some extent. However, advancements in technology via automation and rock cutting technology are anticipated to pave the way for lucrative opportunities in the industry.

Download Sample PDF: https://www.alliedmarketresearch.com/request-sample/5200

Covid-19 Scenario-

The metro and transit segment to dominate by 2027-

Based on end user, the metro and transit segment contributed to nearly one-third of the global tunnel boring machine market share in 2019, and is expected to lead the trail by 2027. Furthermore, the same segment would also portray the fastest CAGR of 6.9% during the forecast period. Increase in metro transport projects and investments by major metro pipeline companies on infrastructure projects are the major factors drive the growth of the segment.

The slurry TBM segment to maintain the dominant share-

Based on machine type, the slurry TBM segment accounted for more than two-fifths of the global tunnel boring machine market revenue in 2019, and is projected to rule the roost till 2027. An increase in tunnel construction activities augment the growth of the segment. The earth pressure shield segment would also manifest the fastest CAGR of 6.9% by 2027. This is attributed to increasing adoption of machines for the construction of rail tunnels, metro & transit projects, highway, and other such road tunnels and other projects owing to high level of work safety, and stable operation under different geological conditions.

Get detailed COVID-19 impact analysis on the Tunnel Boring Machine Market: https://www.alliedmarketresearch.com/request-for-customization/5200?reqfor=covid

Asia-Pacific held the largest share in 2019, North America to maintain a significant CAGR by 2027-

Based on region, Asia-Pacific held the major share in 2019, garnering nearly half of the global tunnel boring machine market. Also, the region would portray the fastest CAGR of 6.5% from 2020 to 2027. Countries in this province are taking several initiatives to promote large-scale tunneling projects for railways and highways in the region, owing to the rise in population, rapid urbanization, and strong economic growth. However, North America is projected to exhibit a CAGR of 5.2% throughout the forecast period.

Key players in the industry-

Interested in Procure Data? Visit: https://www.alliedmarketresearch.com/purchase-enquiry/5200

Access AVENUE- A Subscription-Based Library (Premium on-demand, subscription-based pricing model) at: https://www.alliedmarketresearch.com/library-access

Avenue is a user-based library of global market report database, provides comprehensive reports pertaining to the world's largest emerging markets. It further offers e-access to all the available industry reports just in a jiffy. By offering core business insights on the varied industries, economies, and end users worldwide, Avenue ensures that the registered members get an easy as well as single gateway to their all-inclusive requirements.

Avenue Library Subscription | Request for 14 days free trial of before buying:

https://www.alliedmarketresearch.com/avenue/trial/starter

Similar Reports We Have:

Plumbing Components Market - Global plumbing components market is projected to reach $78,218.9million in 2027, growing at a CAGR of 5.6% from 2020 to 2027.

Mining Equipment Market - Global mining equipment market is expected to reach $165,827.8 million by 2027, growing at a CAGR of 5.7% from 2020 to 2027.

Hydraulic Equipment Market - Global hydraulic equipment market is expected to reach $51,653.1 million in 2027, growing at a CAGR of 3.8% from 2020 to 2027.

Floor Grinding Machine Market - Global floor grinding machines market is projected to reach $344.6 million by 2027, registering a CAGR of 3.1% from 2020 to 2027.


Mining Drills and Breakers Market - Global mining drills and breakers is expected to reach $2,172.8 million by 2025, growing at a CAGR of 7.4% from 2018 to 2025.

Drilling Machine Market - Global drilling machine market was valued at $16.54 Billion in 2017, and is expected to reach $28.76 Billion by 2025, growing at a CAGR of 7.1%.

Pre-Book Now with 10% Discount:

Tunneling and Rock Drilling Equipment Market - Global Opportunity Analysis and Industry Forecast, 2020-2027.

Oil and gas drilling automation Market - Global opportunity analysis and industry forecast, 2020-2027

About us:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

Contact us:
David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
Toll Free: 1-800-792-5285
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060

Logo: https://mma.prnewswire.com/media/636519/Allied_Market_Research_Logo.jpg  

Voltar noticias em Inglês