What is Global Tunneling Machinery Market?
The Global Tunneling Machinery Market is a vast and dynamic sector that encompasses a wide range of machinery and equipment used in the construction of tunnels. These machines, often referred to as Tunnel Boring Machines (TBMs) or Roadheaders, are specifically designed and built to excavate tunnels with circular cross sections through a variety of soil and rock strata. They can bore through anything from hard rock to sand and are widely used in projects such as railway and highway tunneling, water and sewage tunneling, and mining operations. The market for these machines is global, with demand driven by infrastructure development, urbanization, and mining activities worldwide.
TBMs, Roadheader in the Global Tunneling Machinery Market:
TBMs and Roadheaders are the two main types of tunneling machinery. TBMs are large, rotating, cylindrical machines that cut through rock with a circular shield. They are typically used for longer tunnels in hard rock. Roadheaders, on the other hand, are smaller, more flexible machines that use a powerful boom-mounted cutting head to excavate rock and soil. They are typically used for shorter tunnels and in softer rock or mixed ground conditions. The choice between a TBM and a Roadheader depends on a variety of factors, including the length and diameter of the tunnel, the type and condition of the ground, and the project budget.
Coal Mine and Rock, Municipal Engineering, Railway and Highway, Others in the Global Tunneling Machinery Market:
The Global Tunneling Machinery Market finds its application in a variety of sectors. In the coal mining and rock excavation industry, these machines are used to create access tunnels to reach the coal or rock deposits. In municipal engineering, they are used for the construction of water, sewage, and utility tunnels. In the railway and highway sector, they are used to build tunnels for new rail and road routes or to expand existing ones. Other applications include the construction of tunnels for hydroelectric projects, oil and gas pipelines, and other infrastructure projects. The use of tunneling machinery in these sectors is driven by the need for efficient, safe, and cost-effective tunnel construction.
Global Tunneling Machinery Market Outlook:
The Global Tunneling Machinery Market, which was valued at US$ 5430.8 million in 2022, is expected to grow to US$ 7417.6 million by 2029, with a Compound Annual Growth Rate (CAGR) of 4.5% during the forecast period of 2023-2029. This growth is primarily driven by the increasing demand for infrastructure development, urbanization, and mining activities worldwide. China has been the leading player in the global tunneling machinery industry for several years, and it is expected to maintain its dominance, accounting for over 50% of the market share in 2023.
| Report Metric | Details |
| Report Name | Tunneling Machinery Market |
| Accounted market size in 2022 | US$ 5430.8 million |
| Forecasted market size in 2029 | US$ 7417.6 million |
| CAGR | 4.5% |
| Base Year | 2022 |
| Forecasted years | 2023 - 2029 |
| Segment by Type |
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| Segment by Application |
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| Production by Region |
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| Consumption by Region |
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| By Company | CREG, CRCHI, Herrenknecht, NHI, LNSS, Tianhe, JIMT, Komatsu, Hitachi Zosen, Terratec, Kawasaki, STEC, LXCE, Sandvik, SANY GROUP, XCMG, Antraquip, Sunward, BBM Group, Famur, Mitsui Miike Machinery, Deilmann-Haniel Mining Systems (DHMS), MSB Schmittwerke |
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
