portland, March 21, 2019 (GLOBE NEWSWIRE) -- 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, Heterogenous Ground, and Variable Ground), and End-Users (Road Transport, Railway Transport, Metro & Transit, Utilities, Mining, Oil & Gas, and Others): Global Opportunity Analysis and Industry Forecast, 2018 - 2025. According to the report, the global tunnel boring machine market garnered $5.18 billion in 2017 and is expected to reach $8.38 billion by 2025, registering a CAGR of 6.4% from 2018 to 2025.
The report provides an in-depth analysis of the global tunnel boring machine market, covering aspects such as current market size and share, market classification, market drivers, restraints and opportunities, and competitive landscape.
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The report discusses the drivers, restraints, and opportunities of the tunnel boring machine market in detail. Increasing traffic infrastructure projects and rising focus towards micro-tunneling drive the market growth. Nonetheless, high investment cost & lack of flexibility restrict the market growth. On the other hand, technological advancement through automation and rock cutting technology as well as increased adoption in the mining industry offer new opportunities for the growth of the market.
A detailed analysis of the market classification is offered in the study. The market is segmented into machine type, geology type, end-users, and region. Based on machine type, it is divided into slurry TBM, earth pressure balance shield TBM, shielded TBM, multi-mode TBM, and others. The shielded TBM segment generated a market share of 31.2% in 2017 and would dominate the market through 2025. Based on geology type, the market is bifurcated into soft ground, hard rock ground, heterogenous ground, and variable ground. The soft ground segment would grow at the fastest CAGR of 6.8% from 2018 to 2025. The end-user segment is divided into road transport, railway transport, metro & transit, utilities, mining, oil & gas, and others. The mining segment would achieve the fastest growth of 6.9% through 2025. Geographically, the market analysis covers North America, Europe, Asia-Pacific, and LAMEA. Asia-Pacific is expected to dominate in terms of revenue as well as grow at the fastest CAGR of 6.8% through the forecast period.
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The report also includes an analysis of the leading players operating in the tunnel boring machine market. They include CRCHI, CREG, Dalian Huarui Heavy Industry Group Co., Ltd., Herrenknecht AG, Hitachi Zosen Corporation, IHI Corporation, Kawasaki Heavy Industries Limited, Komatsu Ltd.,Northern Heavy Industries Group Co., Ltd., and Qinhuangdao Tianye Tolian Heavy Industry Co., Ltd.