Tunnel Boring Machine Market Size, Share, Trends & Forecast Report 2025-2033

The global tunnel boring machine market was valued at 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 2025-2033. Growth is driven by rising demand for underground infrastructure in urban areas, increasing transportation investments, and technological advancements in tunneling equipment. Asia-Pacific dominates, supported by major metro and infrastructure projects in countries like China, India, and Indonesia.

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Study Assumption Years

Base Year: 2024
Historical Year/Period: 2019-2024
Forecast Year/Period: 2025-2033

Tunnel Boring Machine Market Key Takeaways

The global tunnel boring machine market size reached USD 6.0 Billion in 2024.
The market is expected to reach USD 8.1 Billion by 2033.
The market exhibits a CAGR of 3.48% during the forecast period 2025-2033.
Rising use of TBMs in mining and innovations in rock-cutting technology are key growth drivers.
Government investments in infrastructure projects like water pipelines and oil & gas pipelines boost TBM applications.
Technological integration with tunnel automation systems enhances excavation efficiency and safety.
Asia-Pacific remains the dominant market region, driven by expanding metro and transit projects.

Market Growth Factors

The tunnel boring machine market is primarily propelled by the increasing utilization of TBMs in the mining industry, bolstered by innovations in rock-cutting technology. Expanding cross-industry demand, notably in well drilling machinery, complements TBM market growth. Significant government investments in infrastructural development amplify applications in water pipeline, hydropower, and oil and gas pipeline projects, enhancing the volume and scope of tunneling equipment deployment.

Technological convergence between TBMs and tunnel automation systems is streamlining excavation processes and improving safety metrics. This integration reduces operational risks and optimizes productivity, creating a positive outlook for the market. Additionally, rising awareness of TBMs' advantages, such as stability under high pressure, high specific gravity, and viscosity, encourages adoption across various infrastructure sectors.

The market also benefits from the expanding metro and transit networks, particularly in Asia-Pacific. Increasing transportation projects, including highways and urban rail expansions, propel demand. For example, the Government of India's goal to develop a 200,000 km national highway by 2025 with an estimated investment of Rs 17 trillion underscores significant infrastructure spending, supporting sustained market growth for TBMs.

Market Segmentation

Machine Type:

Slurry TBM: Dominates due to efficacy in soft ground conditions, stabilizing tunnel faces through slurry use. Used in subways, sewer, and underwater tunnels requiring additional ground support.
Earth Pressure Balance Shield TBM
Shielded TBM
Multi-Mode TBM
Others

Product Type:

Soft Ground TBM
Hard Ground TBM: Constitutes the majority market share. Designed for dense rocky formations, using reinforced cutterheads to efficiently excavate hard rocks in transportation and underground infrastructure projects.

Application:

Traffic Tunneling: Dominant segment; TBMs facilitate underground passages for vehicular traffic, reduce surface disruption, and support urban mobility projects such as road tunnels and underground highways.
Utility Tunneling

End User:

Road Transport
Railway Transport
Metro and Transit: Largest market share. TBMs are essential for subway tunnels, stations, and transit corridors, minimizing surface disruption and supporting urban infrastructure growth.
Utilities
Mining
Oil and Gas
Others

Regional Insights

Asia-Pacific currently dominates the tunnel boring machine market, driven by expansive infrastructure initiatives in India, China, Vietnam, the Philippines, Malaysia, and Indonesia. Significant metro expansions and new lines, such as Wuhan's 23.3 km Line 19 and Kolkata's underwater metro tunnel, highlight strong regional growth. The surge in metro and transit projects fuels demand for TBMs, positioning Asia-Pacific as the leading regional market globally.

Recent Developments & News

June 2025: HS2's TBM "Emily" completed a 3.4-mile drive in West London's Northolt Tunnel, marking key progress in the UK market.
April 2025: Larsen & Toubro achieved 10.4 km tunneling using TBM Shakti for India's Rishikesh-Karnaprayag rail line's Tunnel No. 8.
March 2025: India's largest TBM cleared factory acceptance for Mumbai's 11.84 km Thane-Borivali twin tunnel, set to begin construction before monsoon.
February 2025: TBM commenced work on a 5.6 km pressure tunnel for VERBUND's Kaprun-Hauptstufe power plant upgrade in Austria.
January 2024: Chennai Metro Rail Ltd launched TBM "Eagle" from Light House metro station towards Boat Club station.
February 2024: HS2 launched third TBM "Emily" weighing around 1,700 tons to build railway between London and Birmingham.
July 2023: Chenab Valley Power Projects Limited launched TBM for Head Race Tunnel-1.

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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