Europe Tunnel Boring Machine Market to Grow at a CAGR of 5.5% to reach US$ 2,370.81 million from 2020 to 2027

Europe Tunnel Boring Machine Market Forecast to 2027 - COVID-19 Impact and Regional Analysis By Type (Slurry TBM, Earth Pressure Balance Shield TBM, Open Gripper TBM, Shielded TBM, Multi-Mode TBM, and Other Types), Geology (Soft Ground, Hard Rock Ground, Variable Ground, and Heterogeneous Ground), and End-User (Transportation, Metals & Mining, Oil & Gas, and Other End-Users)

Report Code : TIPRE00020537
Category : Manufacturing and Construction

Status : Published
No. of Pages : 142

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Europe Tunnel Boring Machine Market to Grow at a CAGR of 5.5% to reach US$ 2,370.81 million from 2020 to 2027

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The tunnel boring machine market in Europe is expected to grow from US$ 1,592.71 million in 2019 to US$ 2,370.81 million by 2027; it is estimated to grow at a CAGR of 5.5% from 2020 to 2027.

The UK, France, Germany, Italy, and Russia are major economies in Europe. Microtunneling projects coming to focus is driving the Europe tunnel boring machine market. Tunnel boring machines usually have diameters from 5–17 meters. Microtunnel boring machines are smaller, with an excavation diameter of ~4 meters. At present, microtunnel activities are widely used to construct several kilometers of underground infrastructure. It is considered a fast alternative to traditional pipe installation systems. It is an automated process of boring and pipe installation used for excavation utility facilities, such as wastewater, freshwater, oil & gas, communications, and electricity. These machines are rising worldwide since they create less environmental impact compared to conventional excavation methods. Microtunnels have grown in Europe to replace aging infrastructure in the UK. The requirement for enhanced infrastructure across Europe is robust and stronger as the existing utility systems are aging. Thus, the region is highly focused on investing in microtunneling projects to meet the growing requirements of infrastructure. For example, feeder No 2 at Westminster Boulevard project for the West Orange County Water Board includes a 345-lf microtunnel drive of 42 inches. It was valued at US$ 737,000. The microtunnel was deployed in soils consisting of weak silt with clay and the potential for peat. It was ~8 ft below the groundwater table. The project was completed in July 2018.

In Europe, several countries suffered an economic hit due to a lack of revenue from various industries. Many of these member states have implemented drastic measures and travel restrictions, including partially closing their borders. This impacted market growth in Europe in 2020. The impact of COVID-19 varied from country to country across the European region as selected countries witnessed a surge in the number of confirmed cases and subsequently attracted stringent and more extended lockdown periods of social isolation resulting in disruption of business. European countries represent a significant market for tunnel boring machine adoption and growth due to rising investment by the government in railway and road infrastructure and tunnel automation initiatives in various countries. The lockdown has affected the tunnel infrastructure development in European countries and affected tunnel up-gradation activities, thus impacting the growth of the tunnel boring machine market in this region. In addition to this, the disruptions in raw materials and component supply from China aggravated the problems faced by tunnel boring machine manufacturers in this region. All these factors are expected to have a direct impact on the market growth in European countries. Russia, UK, Italy, Spain, and France markets witnessed worst impact in 2020 and likely till Mid-2021 also.

With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the Europe tunnel boring machine market. The Europe tunnel boring machine market is expected to grow at a good CAGR during the forecast period.