Shield Tunnel Boring Machine Market
Shield Tunnel Boring Machine Market : Global Historical Growth (2012-2016) & Future Outlook (2017-2024) Demand Analysis & Opportunity Evaluation
Buy Now
Shield Tunnel Boring Machine Market : Global Historical Growth (2012-2016) & Future Outlook (2017-2024) Demand Analysis & Opportunity Evaluation
Buy Now
In 2023, market players might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain.
Controlling Inflation has become the first priority for global economies from last quarter of 2022 and to be followed in 2023. With skewed economic situations, rise in interest rate by governments to control spending and inflation, spiked oil and gas prices, high inflation, geo-political issues including U.S. & China trade war, Russia-Ukraine conflict to intensify the global economic issues.
The interest rates in the U.S. may be less sensitive in 2023 as compared to 2022; sigh of relief for businesses. Positive business sentiments, healthy business balance sheets, growth in construction spending (private construction value in 2022 stood at $1,429.2 billion, 11.7 percent (±1.0 percent) above the $1,279.5 billion spent in 2021, Residential construction in 2022 was $899.1 billion, up by 13.3 percent (±2.1 percent) from $793.7 billion in 2021, non-residential construction touched $530.1 billion, 9.1 percent (±1.0 percent) above the $485.8 billion in 2021.) showcases minimal impact of recession in the country.
Similarly, spiked spending in the European and major Asia economics including, India, China & Japan to showcase less impact on the global demand.
Shield tunnel boring machine is referred to a tunnel boring machine (TBM) which is used for making tunnels. Shield tunnel boring machine is widely used in the construction of subways, railways, roads and others. Shield tunnel boring machine are used as an alternative for drilling and blasting methods in rocks. Shield tunnel boring machine reduces the cost of lining the tunnel and makes them suitable to use in heavily urbanized areas.
The global shield tunnel boring machine market is expected to grow at a robust growth over the forecast period i.e. 2017-2024. Further, the factors propelling the growth of global shield tunnel boring machine market includes rising urbanization and rapid growth of industrialization sector.
In terms of regional platform, Asia-Pacific accounted for the largest market of shield tunnel boring machine in terms of revenue in 2016. Further, Asia-Pacific is expected to continue its dominance by the end of 2024 owing to growing research and development activities. Further, growing demand for rock tunnel boring machine for making railways tunnel is expected to foster the growth of shield tunnel boring machine market. Additionally, the major countries witnessing the augmented demand for shield tunnel boring machine includes China, India and Japan. Furthermore, India is believed to grow at a robust growth owing to initiatives taken by government to build infrastructure such as metro.
North America captured the second largest market of shield tunnel boring machine in 2016 aided by U.S. Moreover, the growth in this region is attributed various factors such as growing innovation in the tunnel dismantling machines and growing demand for effective and time saving tunneling machines. Furthermore, presence of major key players of shield tunnel boring machine such as Robbins Company, Inc. is also envisioned to flourish the growth of shield tunnel boring machine market by the end of 2024.CLICK TO DOWNLOAD FREE SAMPLE
Europe region is also projected to show a tremendous growth during the forecast period. Likely, the growth of Europe shield tunnel boring machine market is riding on the back of growing infrastructure activities. In addition to this, Western Europe countries such as U.K., France, Germany and others are believed to be the major countries witnessing the augmented demand for shield tunnel boring machine for rock tunneling process.
Our in-depth analysis segmented the global shield tunnel boring machine market in the following segments:
Global shield tunnel boring machine market is further classified on the basis of region as follows:
Factors such as growing adoption of shield tunnel boring machine owing to its various properties such as its limiting noise and vibration and surface disruption is envisioned to foster the growth of shield tunnel boring machine market. Further, rising technological advancement in the field of tunneling process to make it effective for tunneling in urban areas is believed to be the dynamic factor behind the rapid growth of shield tunnel boring machine market across the globe. Moreover, increasing demand for safe machinery for tunnels is envisioned to bolster the growth of shield tunnel boring machine market by the end of 2024.
Furthermore, growing research and development activities by major key players for making effective boring machine and rising industrialization sector are predicted to fuel the growth of shield tunnel boring machine market. Additionally, favorable initiatives taken by government to build infrastructure and rising demand for shield tunnel boring machine from mining and exploration sector are projected to flourish the growth of shield tunnel boring machine market.
However, high cost associated with shield tunnel boring machines is anticipated to dampen the growth of shield tunnel boring machine market during the forecast period. Moreover, high maintenance cost is also believed to hinder the growth of shield tunnel boring machine market.
The major key players for shield tunnel boring machine market are as follows
Submit Your Request For Proposal (RFP)
Submit RFP Buy Now Download Research Report Sample
