Pune, India, Oct. 31, 2023 (GLOBE NEWSWIRE) — The global tunnel boring machines market size is slated to swell considerably as major economies ramp up their spending on infrastructure. Investment in infrastructural development provides indications about a nation’s economic health as these investments are considered vital to create employment opportunities. Emerging economies are intensely formulating policies and plans of action to attract investment in infrastructure projects. For instance, in December 2019, the Finance Minister of India announced that the government will be investing $1.5 trillion for infrastructure development in the country. The plan will include ongoing as well as pipeline projects in the road, railway, and energy sectors and the private sector is expected to account for around 23% of these investments. The other Asian behemoth, China, also announced plans to energize its infrastructure through an injection USD 163.2 billion. Successful completion of large infrastructure projects requires employment of huge machines for operations such as tunnel boring, which bodes well for this market.
Fortune Business Insights™ shares the above information in its recent report, titled “Tunnel Boring Machines Market Size, Share & Industry Analysis, By Machine Type (Slurry-Type Shield Tunnel Boring machine, Boulder or Hard Rock Tunnel Boring machine, Specialized Shield Tunnel Boring Machines), By Application (Traffic Tunnelling, Utility Tunnelling), By End Users (Road Transport, Railway/Metro Transport, Utilities) and Regional Forecast, 2023-2030”.
The other highlights of the report include:
- Precise computation of market values;
- 360-degree analysis of the regional and competitive dynamics shaping the market;
- Exhaustive study of the all the possible market segments; and
- Meticulous research into the different factors driving and restraining the market.
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Steep Initial Costs May Stymie Market Growth
Tunnel boring machines (TBM), or “moles”, are machines deployed for excavation of tunnels. They are cylindrical in shape, which enables to perform circular cross section motions to cut through layers of rocks and sand. These machines have emerged as more efficient alternative to the conventional drilling and blasting, known for causing large disturbances in the regions surrounding the mined area. However, despite these advantages, TBMs suffer from a few drawbacks. For instance, the upfront cost of building a TBM is quite high and transporting these heavy machines to the project site only compounds this cost. These machines also consume massive amounts of power and are not energy-efficient. Furthermore, TBMs are not disaster-proof and considering their size and weight, any accidents caused by them would be severely damaging. For instance, in 2013, Bertha, the Hitachi Zosen-made TBM, collapsed while working on the Seattle Tunnel and its repairs delayed the $3.2 billion project by 2 years. Thus, these shortcomings can impede the smooth growth of this market.
Industry Developments:
- The US-based boring specialist, The Robbins Company, managed to break through the treacherous Himalayan terrain in Nepal using the Robbins Double Shield TBM, Nepal’s first boring machine. The excavation is part of Nepal government’s Bheri Babai Diversion Multipurpose Project which is slated for completion by March 2020.
- The Hague’s largest infrastructure project, Rotterdamsebaan, successfully reused the Mixshield tunnel boring machine made by Herrenknecht AG, the German construction equipment maker. The TBM was used in excavating the Victoria Boogie Woogie Tunnel in Netherlands.
Browse Complete Report Details: https://www.fortunebusinessinsights.com/industry-reports/tunnel-boring-machines-market-101674
List of the Companies Operating in the Market:
- The Robbins Company
- Komatsu
- Ishikawajima-Harima
- Herrenknecht AG
- Qinhuangdao Tianye Tolian Heavy Industry Co. Ltd.
- Mitsubishi Heavy Industries, Ltd.
- Kawasaki Heavy Industries, Ltd.
- Hitachi Zosen Corporation
- Terratec Ltd.
Asia-Pacific to Emerge as a Major Revenue-generating Region; Growth in Europe to Remain Steady
Asia-Pacific is expected to lead the tunnel boring machine market share during the forecast period as India and China launch new infrastructure development projects. Moreover, many Chinese manufacturers are providing TBMs at competitive prices which is augmenting the potential of this market. In Europe, large scale tunnelling projects are underway, especially in hilly countries such as Italy and Spain, which are fuelling the market in the region. Presence of global players will be the key growth driver for the market in North America.
Excavation of Challenging Terrains to be the Focus Area for Market Players
One of the top tunnel boring machines market trends is the increasing focus of companies to explore and excavate challenging topographies in different countries. This is aiding companies to expand their global footprint and provide innovative solutions to customers.
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