Shield Tunnel Boring Machine Market : Global Historical Growth (2012-2016) & Future Outlook (2017-2024) Demand Analysis & Opportunity Evaluation

Shield Tunnel Boring Machine Market Overview

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.

Market Size and Forecast

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.

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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.

Market Segmentation

Our in-depth analysis segmented the global shield tunnel boring machine market in the following segments:

By Type

• Single shield tunnel boring machine
• Double shield tunnel boring machine

By Application

• Railway
• Roads
• Pipeline
• Hydropower
• Mining and Exploration
• Others

By Region

Global shield tunnel boring machine market is further classified on the basis of region as follows:

• North America (United States, Canada), Market size, Y-O-Y growth Market size, Y-O-Y growth & Opportunity Analysis, Future forecast & Opportunity Analysis
• Latin America (Brazil, Mexico, Argentina, Rest of LATAM), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
• Europe (U.K., Germany, France, Italy, Spain, Hungary, BENELUX (Belgium, Netherlands, Luxembourg), NORDIC (Norway, Denmark, Sweden, Finland), Poland, Russia, Rest of Europe), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
• Asia-Pacific (China, India, Japan, South Korea, Malaysia, Indonesia, Taiwan, Hong Kong, Australia, New Zealand, Rest of Asia-Pacific), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
• Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis

Growth Drivers and Challenges

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.

Top Featured Companies Dominating The Market

The major key players for shield tunnel boring machine market are as follows

• Robbins Company Inc.
  • Company Overview
  • Key Product Offerings
  • Business Strategys
  • SWOT Analysis
  • Financials
• Nfm-Technologie SA
• Herrenknecht AG
• Hitachi Zosen Corporation
• Terratec Ltd.
• Bradshaw Company Corporation
• Mitsubishi Heavy Industries, Ltd.
• CaterpillarInc.
• Kawasaki Heavy Industries, Ltd
• Komatsu Ltd.

Scope and Context

Overview of the Parent Market

Analyst View

Segmentation

The global shield tunnel boring machine market is segmented as follows:

• By Type Market Size & Y-O-Y Growth Analysis
• By Application Market Size & Y-O-Y Growth Analysis
• By Region Market Size & Y-O-Y Growth Analysis

Market Dynamics

Supply & Demand Risk

Competitive Landscape

Porter’s Five Force Model

Geographical Economic Activity

Key Players (respective SWOT Analysis) and their Strategies and Product Portfolio

Recent Trends and Developments

Industry Growth Drivers and Challenges

Key Information for Players to establish themselves in current dynamic environment