Global Micro Tunnel Boring Machine Market Growth 2023-2029

Global Micro Tunnel Boring Machine Market Growth 2023-2029

The global Micro Tunnel Boring Machine market size is projected to grow from US$ 429.6 million in 2022 to US$ 748.6 million in 2029; it is expected to grow at a CAGR of 8.3% from 2023 to 2029.

Global key manufacturers of micro tunnel boring machine include Herrenknecht, CRHIC, CRCHI, Akkerman, Northeren Heavy, Industries Group, Terratec, Liaoning Censcience Industry and mts Microtunneling Systems GmbH, etc. Herrenknecht gains the highest market share over 20%.

China is the largest producer of micro tunnel boring machine, making up nearly 40%, followed by Europe (30%).

In terms of product type, earth pressure balance machine makes up most, with a share over 40%. Other dominant types include Slurry Shield (SS), Pilot Tube Microtunneling (PTMT), Auger Boring and Vacuum Extraction TBM.

In terms of application, urban rail system is the largest segment, holding a share over 50%.

With an increasing demand of urban underground space, market size of micro tunnel boring machine is also growing and the prospect is optimistic.

LPI (LP Information)' newest research report, the “Micro Tunnel Boring Machine Industry Forecast” looks at past sales and reviews total world Micro Tunnel Boring Machine sales in 2022, providing a comprehensive analysis by region and market sector of projected Micro Tunnel Boring Machine sales for 2023 through 2029. With Micro Tunnel Boring Machine sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world Micro Tunnel Boring Machine industry.

This Insight Report provides a comprehensive analysis of the global Micro Tunnel Boring Machine landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyzes the strategies of leading global companies with a focus on Micro Tunnel Boring Machine portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms' unique position in an accelerating global Micro Tunnel Boring Machine market.

This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Micro Tunnel Boring Machine and breaks down the forecast by type, by application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global Micro Tunnel Boring Machine.

This report presents a comprehensive overview, market shares, and growth opportunities of Micro Tunnel Boring Machine market by product type, application, key manufacturers and key regions and countries.

Market Segmentation:

Segmentation by type
Earth Pressure Balance Machines
Slurry Shield (SS)
Pilot Tube Microtunneling (PTMT)
Auger Boring
Vacuum Extraction TBM
Others

Segmentation by application
Urban Rail System
Rail and Road
Municipal Engineering
Others

This report also splits the market by region:
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries

The below companies that are profiled have been selected based on inputs gathered from primary experts and analyzing the company's coverage, product portfolio, its market penetration.
Herrenknecht
CRHIC
CRCHI
Akkerman
Northeren Heavy Industries Group
Terratec
Liaoning Censcience Industry
mts Microtunneling Systems GmbH

Key Questions Addressed in this Report

What is the 10-year outlook for the global Micro Tunnel Boring Machine market?

What factors are driving Micro Tunnel Boring Machine market growth, globally and by region?

Which technologies are poised for the fastest growth by market and region?

How do Micro Tunnel Boring Machine market opportunities vary by end market size?

How does Micro Tunnel Boring Machine break out type, application?

What are the influences of COVID-19 and Russia-Ukraine war?

Please note: The report will take approximately 2 business days to prepare and deliver.