The global tunnel boring machine market size was USD 6.0 Billion in 2024 and is projected to reach USD 8.1 Billion by 2033, growing at a CAGR of 3.48% during the forecast period 2025-2033. Growth is driven by the increasing demand for underground infrastructure in urban areas, rising transportation investments, and technological advancements in tunneling equipment. Among machine types, slurry TBM leads due to its efficiency in soft ground conditions. The Asia-Pacific region dominates supported by major metro and infrastructure projects in countries like China, India, and Indonesia.
Study Assumption Years
- Base Year: 2024
- Historical Year/Period: 2019-2024
- Forecast Year/Period: 2025-2033
Tunnel Boring Machine Market Key Takeaways
- Current Market Size: USD 6.0 Billion in 2024
- CAGR: 3.48%
- Forecast Period: 2025-2033
- Major drivers include increasing use of TBMs in mining, innovations in rock-cutting technology, and government infrastructure investments particularly in water pipelines, hydropower, and oil and gas pipelines.
- Technological convergence with tunnel automation systems improves excavation workflows and safety.
- Asia-Pacific is the dominant regional market owing to extensive metro and infrastructure projects in China, India, Indonesia, and Southeast Asia.
- Metro and transit projects hold the largest end-user market share, supported by rapid metro expansions globally.
- Major manufacturers include Herrenknecht AG, Komatsu Ltd., Kawasaki Heavy Industries Ltd., Hitachi Zosen Corporation, and Akkerman Inc.
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Market Growth Factors
The increasing utilization of tunnel boring machines in mining is a primary factor driving market growth. Innovations in rock-cutting technology enhance TBM capabilities, enabling more efficient excavation. Recent cross-industry demand, especially in well drilling machinery, complements TBM expansion. Significant government investment in infrastructure, such as water pipelines, hydropower, and oil and gas pipeline projects, further augments TBM applications. These factors collectively contribute to the growing adoption of TBMs.
Technological progress is another growth catalyst. Integration of TBMs with tunnel automation systems streamlines excavation operations, improving safety and efficiency. Rising awareness of TBM advantages - including high specific gravity, viscosity, and stability under high pressure - fosters positive market sentiment. The growing trend of tunnel automation is also accelerating market growth by enhancing project speed and safety metrics.
Additionally, rising transportation development projects worldwide stimulate demand for TBMs. For example, India aims to develop a 200,000 km national highway network by 2025 with a capital investment of about Rs 17 trillion. Projects like the US Hampton Roads Bridge-Tunnel Expansion, valued at US$3.8 Billion, reinforce this growth trend. Increasing government funding for roadways and highways worldwide is expected to sustain heightened TBM demand.
Market Segmentation
Machine Type:
- Slurry TBM: Specialized TBMs for soft ground (clay, silt, sand, gravel) using bentonite or polymer slurry for tunnel face stability and excavation transport. Used in subway, sewer, and underwater tunnels.
- Earth Pressure Balance Shield TBM
- Shielded TBM
- Multi-Mode TBM
- Others
Product Type:
- Soft Ground TBM
- Hard Ground TBM: Designed for dense rocky formations like granite and basalt with robust cutterheads, offering increased efficiency and reduced wear. Used in transportation tunnels, water supply, and underground infrastructure.
Application:
- Traffic Tunneling: Excavation for vehicular traffic tunnels reducing surface disruption, minimizing congestion, and enhancing safety. Used in urban road tunnels, bypasses, and underground highways.
- Utility Tunneling
End User:
- Road Transport
- Railway Transport
- Metro and Transit: Largest market share; facilitates subway tunnels, stations, and transit corridors with minimal surface disruption.
- Utilities
- Mining
- Oil and Gas
- Others
Region:
- North America: United States, Canada
- Asia-Pacific: China, Japan, India, South Korea, Australia, Indonesia, Others
- Europe: Germany, France, United Kingdom, Italy, Spain, Russia, Others
- Latin America: Brazil, Mexico, Others
- Middle East and Africa
Regional Insights
Asia-Pacific is the dominant region in the tunnel boring machine market, driven by infrastructure booms in countries including India, China, Vietnam, Philippines, Malaysia, and Indonesia. Major projects such as the opening of new metro lines in China and the inauguration of Kolkata's underwater metro tunnel in India bolster growth. Expansion of metro rail networks and replacement of bus rapid transit systems with metro lines in the region further fuel market demand.
Recent Developments & News
- June 2025: HS2's TBM Emily completed a 3.4-mile drive in London's Northolt Tunnel, removing 775,000 tonnes of clay and installing 17,514 segments, marking progress in UK infrastructure.
- April 2025: Larsen & Toubro finished 10.4 km tunnelling using TBM Shakti for India's longest rail tunnel project, achieving 413 metres average monthly progress.
- March 2025: India's largest TBM cleared tests for Mumbai’s 11.84 km Thane-Borivali twin tunnel, built by Herrenknecht.
- February 2025: A 1,200-tonne TBM started work on a 5.6 km pressure tunnel for VERBUND’s power plant upgrade in Austria.
- January 2024: Chennai Metro Rail Ltd launched the Eagle TBM for a metro extension.
- February 2024: HS2 launched the third TBM Emily to build the London-Birmingham railway.
- July 2023: Chenab Valley Power Projects Limited launched a TBM for Head Race Tunnel-1 construction.
Key Players
- Akkerman Inc.
- China Railway Construction Heavy Industry Corporation Limited
- China Railway Engineering Equipment Group Co. Ltd. (China Railway Hi-Tech Industry Corporation Limited)
- Dalian Huarui Heavy Industry Group Co. Ltd.
- Herrenknecht AG
- Hitachi Zosen Corporation
- IHI Corporation
- Kawasaki Heavy Industries Ltd.
- Komatsu Ltd.
- Northern Heavy Industries Group Co. Ltd.
- Sika AG
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