Before we witness the stabilization of economic growth in Europe and North America, Asia Pacific is estimated to bounce back progressively with countries such as China, India, South Korea and Japan witnessing more opportunities to recover from the losses sustained during COVID-19.
Being the biggest market in Eastern Europe, Russia is estimated to take the lowest hit, offering a sigh of relief to the businesses operating in the country. Whereas, GCC is estimated to observe low investments due to the sliding prices of crude oil.
We evaluate the strategies and commitment of the Giant Players in the market towards creating products and services that customers value and rely on.
In an attempt to control and eliminate the surge of coronavirus cases and meet the demand for required medical devices along with providing efficient medical services, there is a drastic shift of investments from authoritative bodies towards the healthcare sector. Where the aftermath of this pandemic may take years to be measured, Research Nester estimates notable expansion of e-health, gaming, and media and entertainment industries till the whole situation is contained and the plan of action for the recovery process is determined. There is an estimated probability of the growth in businesses going back a year if the condition is controlled in the next 2-3 months. Request Insights
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
Overview of the Parent Market
Analyst View
Segmentation
The global shield tunnel boring machine market is segmented as follows:
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
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