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Market Overview
Global Market for Tunnel Boring Machines is anticipated to exhibit a 5.6% CAGR during the review period. The equipment used for excavating tunnels for railways, roads, and pipelines is known as tunnel boring machines. These are very heavy, lengthy, and large machines having circular cross-sections and help to dig circular holes irrespective of rocks and soil. Tunnel boring machines are complex equipment of different systems working in combination with each other. The diameter of these machines ranges from 3 feet to 65 feet intended to provide a smooth cut and finishing tough rocks for constructing concrete shields around the bored tunnels.
Global Tunnel Boring Machine Market is expected to witness a healthy market growth owing to the existence of a higher number of market players worldwide. The growth of market competitors relies on market conditions, government support, and industry development. Additionally, the manufacturers/service providers operating worldwide are adopting strategies such as mergers & acquisitions, product development, partnerships, joint ventures, and expansion to improve their position in the market, both regionally and globally.
Market segmentation
Global Tunnel Boring Machine Market has been classified into Machine Type, Geology Type, End Users, and Region.
In terms of Machine Type, the global market has been divided into slurry TBM, earth pressure balance shield TBM, shielded TBM, multi-mode TBM, and other machines. The slurry TBM segment valued for the largest market share of 32.7%, with a market value of USD 1,713.54 million in2018. It is likely to register a 6.0% CAGR during the review period.
By geology segment, the global market has been categorized into soft ground, hard rock ground, heterogeneous ground, and variable ground. The soft ground segment evaluated for a considerable market contribution of 38.3%, with a market value of USD 2,003.98 million in 2018. It is estimated to exhibit a significant CAGR of 4.9% over the assessment period.
depending on the end-users’ segment, the global market has been segregated into road transport, railway transport, utilities, metro and transit, mining, oil and gas, and others. In 2018, the road transport segment was valued at USD 1,667.22 million and it is expected to register a 5.9% CAGR during the assessment period.

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Regional Analysis
The region-specific analysis of the global tunnel boring machine market has been categorized into North America, Europe, Asia-Pacific, South America, and the Middle East & Africa.
Asia-Pacific is expected to register the largest tunnel boring machine market with significant CAGR during the research period. India and China are expected to contribute to the largest regional market owing to the expanded tunnel projects across the countries. Furthermore, the increasing government expenditure on infrastructure and rapidly increasing rail and road network expansions in countries in Asia are anticipated to fuel the regional market.
The tunnel machines market in Europe is expected to register the second largest share owing to increasing digging activities in Europe.
Major Players
Some of the major competitors in global boring machine market are China Railway Group Limited (CRGL), IHI Corporation, Kawasaki Heavy Industries Ltd, Hitachi Zosen Corporation, Bosch Rexroth AG.
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