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Tunnel Boring Machine Market Forecast to 2027 - COVID-19 Impact and Global Analysis By Type, Geology, and End-User

·3-min read

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.

New York, March 23, 2021 (GLOBE NEWSWIRE) -- announces the release of the report "Tunnel Boring Machine Market Forecast to 2027 - COVID-19 Impact and Global Analysis By Type, Geology, and End-User" -
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, signalling, 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.

Herrenknecht AG, Kawasaki Heavy Industries, Ltd., Komatsu Ltd., China Railway Group Limited, and Hitachi Zosen Corporation are the five key market players operating in the global tunnel boring machine market. The listing of key players is derived by considering multiple parameters such as overall revenue, segmental revenue, brand image, current tunnel boring machines portfolio, technology integration & product enhancements, geographical reach, new product/feature launches, market initiatives, mergers & acquisitions, and other market-related activities. China Railway Construction Heavy Industry Co., Ltd.; CREG TBM Germany GmbH; DALIAN HUARUI HEAVY INDUSTRY GROUP CO., LTD. (DHHI); IHI Corporation; The Robbins Company; and TERRATEC Ltd. are several other notable market players operating in the market ecosystem that were also studied and profiled during the course of this market study.

In addition to these players, multiple other leading global and regional market players, emerging companies, market disruptors, and niche market players operating in the market ecosystem were also studied and analyzed during the course of this study to gain a holistic view of the global tunnel boring machine market.

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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