Shield Tunnel Boring Machine Market Insights Video
According to Cognitive Market Research, The Global Shield Tunnel Boring Machine market size is USD 1.2 Billion in 2023 and will grow at a compound annual growth rate (CAGR) of 9.00% from 2023 to 2030.
The Shield Tunnel Boring Machine Market has witnessed substantial growth due to the increasing need for infrastructure development, environmental considerations, technological advancements, and the efficiency and safety benefits of using shield TBMs.
Demand for single shield TBM remains more elevated in the shield tunnel boring machine market by type.
The segmental lining category held the highest application of shield tunnel boring machine market share in 2023.
North America's dominance in the global shield TBM market in 2023 is a result of its robust economy, urbanization trends, traffic congestion challenges, commitment to environmental sustainability, and significant infrastructure investments.
