DUBLIN--(BUSINESS WIRE)--The "Tunnel Boring Machine Market Forecast to 2027 - COVID-19 Impact and Global Analysis by Type, Geology, and End-User" report has been added to ResearchAndMarkets.com's offering.

According to this report the global 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.

APAC led the global tunnel boring machine market with decent revenue share in 2019. The market in APAC has been analyzed based on historical, current, and future trends across the region. It is the fastest-growing region as the market players are experiencing significant demand for their products due to constant development in transportation infrastructure, and road and rail infrastructure across the region. China and Japan are the leading countries in the APAC tunnel boring machine market owing to the rapidly rising government investments in the development of road and rail line infrastructure, including the construction of various tunnels in the route. In India, Delhi Metro Rail Corporation entrusted offering a Mass Rapid Transportation System (MRTS) network to Delhi City. For the underground network, the tunnels were constructed by slurry type shield machine. In the next phase of the project, the railway station used 14 tunnel boring machines to construct a tunnel with a diameter of 5.8 meters. During the project, as per geology parameters, the tunnel boring machines of Mitsubishi, M/s Herenknecht, and Kawasaki were selected.

In June 2018, the first tunnel boring machine for the 33.50 km long Mumbai Metro-III corridor package arrived in Mumbai, India. It is one of the longest metro lines in Mumbai, valued at US$ 3.17 billion, partly funded by Japan International Cooperation Agency. The machine was imported from the Robbins Company and manufactured at its China facility. In September 2018, CCCC Tianhe Mechanical Equipment Manufacturing Co, a China-based company, introduced the tunnel boring machine. The machine is built with a diameter of 13.19 meters and advanced technology. It is said that this tunnel boring machine is the largest and most innovative machine any China-based company has ever designed for a project. This machine would be used in rail projects in Indonesia, with a budget of US$ 5 billion. The project would link Jakarta with the city of Bandung.

Impact of COVID-19 Pandemic on Tunnel Boring Machine Market

The COVID-19 pandemic has substantially impacted infrastructure advancement and the global economy. The sharp decline in the construction and infrastructure industry impacts the growth of the global tunnel boring machine market. Unavailability of human resources and shortage of construction materials, caused by the lockdown, are the challenges encountered by the major transportation and mining projects. The delay in manufacturing and producing tunnel boring machines for the construction of road, rail, and other tunnels also somewhat hindered the market growth in 2020. Additionally, the factory shutdowns, travel bans, trade bans, and border lockdowns to combat and contain the outbreak have impacted manufacturing, supply, and sales of various components that are required for the manufacturing of tunnel boring machines.

Reasons to Buy

• Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the global Tunnel Boring Machine market.
• Highlights key business priorities in order to assist companies to realign their business strategies.
• The key findings and recommendations highlight crucial progressive industry trends in the global Tunnel Boring Machine market, thereby allowing players across the value chain to develop effective long-term strategies.
• Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
• Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it.
• Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution.

Market Dynamics

Drivers

• Growing Road Infrastructure Projects
• Increasing Focus Toward Microtunneling

Restraints

• High Financial Investment

Opportunities

• Growing Rail Infrastructure Development Across APAC Countries

Future Trends

• Technologically Advanced Tunnel Boring Machines

Companies Mentioned

• China Railway Construction Heavy Industry Co., Ltd.
• CREG TBM Germany GmbH
• DALIAN HUARUI HEAVY INDUSTRY GROUP CO., LTD.
• Herrenknecht AG
• Hitachi Zosen corporation
• IHI Corporation
• Kawasaki Heavy Industries, Ltd.
• Komatsu Ltd.
• The Robbins Company
• TERRATEC Ltd.

For more information about this report visit https://www.researchandmarkets.com/r/tyvrll

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