Market Report | Shield Tunnel Boring Machine Market Quantitative and Qualitative Analysis: Global Industry Developments and Forecasts 2023-2030 | RationalStat
Rationalstat LLC
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Rationalstat LLC
The global shield tunnel boring machine market is expected to approach US$ 9.9 billion by 2030, with an annual growth rate of nearly 6% during the forecast period.
Wilmington, Delaware, Sept. 29, 2023 (GLOBE NEWSWIRE) -- Global Shield Tunnel Boring Machine Market is valued at US$ 6.2 billion in 2022 and is expected to grow at a significant CAGR of over 6% over the forecast period of 2023-2030, according to the latest market report by RationalStat
Market Definition, Market Scope, and Report Overview
A shield tunnel boring machine (TBM), often known as a tunnel boring machine, is a type of construction equipment used to excavate tunnels in various underground projects. TBMs are designed to bore through a variety of ground conditions, such as soil, rock, and other geological formations, in order to produce tunnels for transportation, infrastructure, and utilities.
The shield is a protective structure that surrounds and extends behind the cutting head. It supports the tunnel face and prevents ground collapse during excavation. The shield also houses numerous debris removal and ground support systems.
According to a deep-dive market assessment by RationalStat, the global Shield Tunnel Boring Machine market has been analyzed on the basis of market segments, including type, application and geography/regions (including North America, Latin America, Western Europe, Eastern Europe, Middle East & Africa, and Asia Pacific). The report also offers global and regional market sizing for the historical period of 2019-2022 and the forecast period of 2023-2030.
Market intelligence for the global Shield Tunnel Boring Machine market covers market sizes on the basis of market value (US$/EUR Million) and volume (Units) by various products/services/equipment, demand assessment across the key regions, customer sentiments, price points, cost structures, margin analysis across the value chain, financial assessments, historical and forecast data, key developments across the industry, import-export data, trade overview, components market by leading companies, etc.
In addition, the long-term sector and products/services 10-year outlook and its implications on the global Shield Tunnel Boring Machine market. It also includes the industry's current state – Production Levels, Capacity Utilization, Tech quotient, etc. Key information will be manufacturing capacity by country, installed base, import volumes, market size, key players, market size, dynamics, market data, insights, etc.
GlobalShield Tunnel Boring Machine Market: Segmental and Market Share Analysis
On the basis of type, demand for single and double shield TBMs was high, and these categories are likely to grow significantly throughout the forecast period.
On the basis of application, the global shield TBM market is dominated by the road transport segment. In developing countries, more investment in infrastructure and transportation is expected to improve demand.
Manufacturing and brands operating in the production and sales of shield tunnel boring machines adopt various strategies in order to reinforce their market share and gain a competitive edge over other competitors in the market. Mergers & acquisitions, partnerships and collaborations, and product launches are some of the strategies followed by industry players. Some of the key developments in the global shield tunnel boring machine market include,
In June 2023, Robbins Double Shield TBM ventured into uncharted terrain. The machine advanced 1,224.13 m in one month, setting a record for Himalayan geology and maybe a TBM record in the Indian Subcontinent.
In June 2023, TERRATEC is thrilled to announce the delivery of a 3.85m Rock Slurry Machine to Mumbai's Mumbai Sewer Disposal Project (MSDP) Stage-II - PST1. These TBMs include a Rock Slurry TBM and a Rock EPB TBM, which were used to build the Mumbai Priority Sewer Tunnel (PST-1) of 5.8 kilometers and the Priority Sewer Tunnel (PST-2) of 4.7 kilometers.
Some of the prominent players and suppliers operating and contributing significantly to the global shield tunnel boring machine market growth include The Boring Company, Hitachi Zosen Corporation, Kawasaki Heavy Industries, Ltd., Mitsubishi, The Robbins Company, Komatsu Ltd., and Herrenknecht AG,among others.
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Research Methodology
RationalStat has developed a state-of-the-art research methodology to crunch numbers and provide the best possible real-time insights to clients. We combine a varied range of industry experience, data analytics, and experts’ viewpoint to create a research methodology for market sizing and forecasting.
RationalStat combines a mix of secondary sources as well as primary research to assess the market size and develop a forecast. Key steps involved in accurately deriving the market numbers are:
Defining the problem by understanding the type of market and data required by the client.
Data gathering and collection through relevant paid databases, publicly available sources, company reports, annual reports, surveys, and interviews.
Formulating a hypothesis to create market numbers, forecasts, influencing factors, and their relevance.
Evaluating and analyzing the data by referring to data sources utilized and leveraged.
Validating, interpreting, and finalizing the data by combining the details gathered from primary and secondary sources with the help of experienced analysts.
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About RationalStat LLC
RationalStat is an end-to-end global market intelligence and consulting company that provides comprehensive market research reports, customized strategy, and consulting studies. The company has sales offices in India, Mexico, and the US to support global and diversified businesses. The company has over 80 consultants and industry experts, developing more than 850 market research and industry reports for its report store annually.
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