Forecast of Global Tunnel Boring Machine Market 2023

Global Tunnel Boring Machine market will register a 2.1% CAGR in terms of revenue, reach US$ 3680 million by 2023, from US$ 3240 million in 2017. A tunnel boring machine (TBM) is a machine used to excavate tunnels with a circular cross section through a variety of soil and rock strata. They may also be used for micro tunneling. In Japan and China, The machines used for soil are called shield tunneling machines and machines used for hard rock are called tunnel boring machine.