Shield Tunnel Boring Machine Market: Introduction
- Tunnel boring machine consists of a shield, which is a large metal cylinder, and trailing support mechanisms. The shield is a movable steel tube or framework that fits the excavation line of a tunnel. It provides support to the tunnel and protects workers during excavation.
- Shield tunnel boring machine (TBM) is utilized depending upon the kind of geography, i.e. delicate shake, hard shake, soil type, and water content. Assembling and upkeep of shield TBM is itself a test inferable from its gigantic size, weight, and nonstop progressing of innovation and its capacity. Tunnel boring is fundamentally accomplished for pipe jacking, and street and railroad tunnels.
Key Drivers and Restraints of Shield Tunnel Boring Machine Market
- Increase in investment in development of railways, roads, and metros is expected to drive the shield TBM market in the near future. For instance, the Government of India is spending more than US$ 1.5 Bn for the development of metros. This trend is expected to around the world. In turn, this is likely to boost the demand for shield TBM during the forecast period.
- The headway in innovation for overhauling the present transportation framework and future potential outcomes is driving the developing interest for shield TBM. Elon Musk, proprietor of Tesla and SpaceX, has ventured into the tunneling industry with cutting-edge perspective on Hyperloop innovation, a future mass transportation idea, which could help people travel in a unit through a fast vacuum tunnel.
- High initial investment is a major factor restraining the global shield TBM market. Furthermore, increase in prices of raw materials such as aluminum and steel is estimated to restrain the market during the forecast period.
Global Shield Tunnel Boring Machine Market Segmentation
- The global shield TBM market can be segmented based on type and application
- In terms of type, the shield TBM market can be divided into single shield TBM, double shield TBM, mix shield TBM, gripper TBM, and others. Single shield TBM and double shield TBM were lucrative segments of the global shield TBM market in 2020. In terms of demand, these segment are expected to expand significantly during the forecast period.
- In terms of application, the shield TBM market can be classified into road transport, railway transport, utility, mining, and others. Road transport and railway transport were key segments of the market in 2020. Increase in investment in infrastructure and transportation in developing countries is expected to boost the demand for shield TBM during the forecast period.
Global Shield Tunnel Boring Machine Market: Regional Segmentation
- Based on region, the global shield TBM market can be segregated into North America, Asia Pacific, Europe, Latin America, and Middle East & Africa
- North America dominated the global shield TBM market in 2020. This trend is projected to continue during the forecast period, due to increase in investment in road, railway, and metro projects in the U.S. and Canada.
- Asia Pacific district has high number of tunnel development projects, especially in China, India, Japan, Malaysia, Vietnam, the Philippines, Uzbekistan, and Kazakhstan. In 2016, China finished its first longest tunnel venture to Uzbekistan of 47.3 km length, thus advancing the development of the railroad in Uzbekistan and nearby economies.
- The market in Europe, Latin America, and Middle East & Africa is estimated to expand at a considerable pace during the forecast period. Increase in investment in the transportation industry is expected to drive the shield TBM market in these regions during the forecast period.
COVID-19 Impact on Shield Tunnel Boring Machine Market
- The COVID-19 pandemic has adversely impacted the global economy due to the stringent lockdowns imposed in all major countries. Investment in development of roads and railways has also been affected by these lockdowns. A few projects have been delayed, while some have been put on hold. However, governments of various countries across the world are easing lockdown restrictions. As a result, investment in road and railway projects is estimated to rise steadily. This, in turn, is projected to drive the demand for shield TBM market during the forecast period.
Key Players Operating in Market
- Herrenknecht AG
- The Robbins Company
- Komatsu Ltd
- Mitsubishi Heavy Industries Ltd.,
- Hitachi Zosen Corporation
- Kawasaki Heavy Industries, Ltd.
- The Boring Company
- ENERGY & MACHINERY KOREA CO., LTD.
- TERRATEC Ltd.
- Sika AG
Global Shield Tunnel Boring Machine Market: Research Scope
Global Shield Tunnel Boring Machine Market, by Type
- Single Shield TBM
- Double Shield TBM
- Mix Shield TBM
- Gripper TBM
Global Shield Tunnel Boring Machine Market, by Application
- Road Transport
- Railway Transport
Global Shield Tunnel Boring Machine Market, by Region
- North America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
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