August 10, 2022 11:50 ET | Source: Straits Research Straits Research

New York, United States, Aug. 10, 2022 (GLOBE NEWSWIRE) -- Tunnel Boring Machines (TBMs) are equipment that drill tunnels through various rocks and soils. Primarily, tunnel boring machines are utilized to excavate coal mines and tunnels. It is anticipated that an increase in railway and highway infrastructure projects will accelerate the expansion of the global tunnel boring machine market. As more machines are used for water supply and disposal, oil and gas pipelines, and hydropower projects, the tunnel boring machine market is predicted to increase. TBM decreased the operational time necessary for construction activities relative to other traditional technologies, increasing its popularity. In addition, higher spending on road infrastructure and railway projects is projected to propel the global tunnel boring machine market.

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Increased Adoption in Mining Industry Drives the Global Tunnel Boring Machine Market The tunnel boring machine industry players have an excellent opportunity to increase their market presence in the mining sector by developing technologically advanced, high-quality products. New developments are expected to make the operation of TBM in mining operations easier and more convenient. There is an increase in the need for TBM for underground mining operations, owing to the reduction of surface deposits globally and increased awareness of environmental impacts. In comparison with conventional methods, TBMs require fewer workers.

Technological Advancements through Automation and Rock Cutting Technology Create New Market Opportunities Technological advances in tunnel boring machines will drive market expansion in the coming years. Automation promotes productivity, enhances safety, optimizes resource utilization, and reduces labor expenses. In water jet and diamond wire technology, high-pressure waterjets and diamond wire cutting are utilized for rock extraction.

Similarly, ZigBee-based wireless sensor networks are utilized for data transfer during tunneling operations. The collection and processing of real-time data assists project managers and TBM operators. In April of 2019, for instance, Master Drilling provided Northam Platinum with a mobile tunnel boring machine. This tunnel boring machine used in mining is equipped with a wireless sensor network. The capacity of the cutter head on this tunnel-boring equipment is 17-inch disc cutters. This tunnel boring machine has a diameter of 5.5 meters.

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Regional Insights Asia-Pacific is the highest revenue contributor and is estimated to grow at a CAGR of 6.7% during the forecast period. Due to rising population, fast urbanization, and strong economic growth, countries such as China, India, and others are launching several measures to support large-scale tunneling projects for railways and highways in the region. Such factors drive the tunnel machine boring market forward. Furthermore, many ongoing metro project developments in India are expected to boost demand for tunnel boring machines in the near future. Also, several manufacturers in the Asia-Pacific area are concentrating on developing advanced tunnel boring machines to enhance the region's market growth. 

Europe is the second-largest region. The Europe tunnel boring machine market is projected to reach USD 2410 million by 2030, growing at a CAGR of 6%. Due to Europe's economic growth and considerable infrastructure investment, various prominent enterprises are producing tunnel boring machines for efficient and trustworthy operations. Furthermore, the tunnel boring machine market is expanding due to increased road infrastructure and railway pipeline projects in Eastern Europe. Eastern European countries like Bulgaria, Poland, and others are projected to improve transportation infrastructure spending, increasing the demand for TBMs.

North America is the third largest region. The increase in road construction activities increases the number of tunneling activities worldwide, fueling the expansion of the tunnel boring machine market. For example, in June 2017, the Indiana government authority began building a roughly 5-mile tunnel to prevent wastewater from overflowing into local waterways. This tunnel was constructed to convey sewage from the sewer system to the sewage treatment plant. Furthermore, there are numerous active tunnel projects in the United States to construct highways, railways, and water management systems. An increase in micro tunneling projects in Canada also drives the expansion of the small-diameter double shield TBM and direct pipe TBM markets.

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Competitive Analysis Key players in the global tunnel boring machine market are

Global Tunnel Boring Machine Market: Segmentation

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