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 the forecast period from 2025 to 2033. The growth is driven by increasing demand for underground infrastructure in urban areas, substantial transportation-related investments, and advances in tunneling equipment technology. The market is currently dominated by slurry TBM types, with Asia-Pacific region leading due to extensive metro and infrastructure projects in countries such as 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

• The global tunnel boring machine market size was valued at USD 6.0 Billion in 2024.
• The market is expected to grow at a CAGR of 3.48% during 2025-2033.
• The forecast period is from 2025 to 2033.
• Growth is fueled by increasing underground infrastructure needs and transportation investments.
• Slurry TBM currently dominates among machine types.
• Asia-Pacific is the leading region, supported by metro and infrastructure projects in countries including China, India, and Indonesia.
• Key players include Herrenknecht AG, Komatsu Ltd., Kawasaki Heavy Industries Ltd., Hitachi Zosen Corporation, and Akkerman Inc.

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Market Growth Factors

The increasing use of tunnel boring machines in the mining industry, driven by innovations in rock-cutting technology, is a primary market growth factor. Cross-industry demand, especially in well drilling machinery, complements the expansion of tunnel boring equipment. Governments across several countries are investing heavily in infrastructural projects, particularly in water pipeline, hydropower, and oil and gas pipeline projects, contributing to the market expansion.

Technological convergence between TBMs and tunnel automation systems is enhancing excavation workflows and safety, making TBMs more favorable for large-scale projects. Rising awareness of TBMs' advantages like stability under high pressure, high specific gravity, and viscosity create a positive market outlook. The growing trend of tunnel automation further reinforces the market growth.

The rising number of transportation and infrastructure projects significantly propels the tunnel boring machine market. For instance, India's government plans to develop a national highway network of 200,000 km by 2025 with expected investments around Rs 17 trillion. Other major projects, like the Hampton Roads Bridge-Tunnel Expansion Project in the US valued at US$ 3.8 Billion, highlight the scaling investments in roadway infrastructure, boosting demand for TBMs globally.

Market Segmentation

By Machine Type:

• Slurry TBM: Dominates due to effectiveness in soft ground conditions such as clay, silt, sand, and gravel. Utilizes bentonite or polymer-based slurry for soil stabilization and continuous operation. Commonly applied in subway, sewer, and underwater tunnel projects.
• Earth Pressure Balance Shield TBM
• Shielded TBM
• Multi-Mode TBM
• Others

By Product Type:

• Soft Ground TBM
• Hard Ground TBM: Represents the majority market share; designed to excavate dense rocky formations like granite, basalt, and hard limestone using robust cutterheads reinforced with hard materials, enhancing efficiency and tool durability. Widely used for transportation tunnels, water tunnels, and underground infrastructure.

By Application:

• Traffic Tunneling: Clearly dominant segment; used for creating underground vehicular passages with minimal surface disruption and enhanced safety. Applied in road tunnels, bypasses, and underground highways, improving urban mobility. Growing highway and railway projects further drive this segment.
• Utility Tunneling

By End User:

• Road Transport
• Railway Transport
• Metro and Transit: Holds the largest market share; essential TBMs in constructing subways and transit corridors with minimal disruption, supporting sustainable urban development. Metro expansions globally contribute significantly to this segment.
• Utilities
• Mining
• Oil and Gas
• Others

By Region:

• North America (United States and Canada)
• Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others): Currently dominates globally, fueled by infrastructure booms in India, China, Vietnam, the Philippines, Malaysia, and Indonesia. Key projects include new metro lines in China and India’s underwater metro tunnels.
• Europe (Germany, France, United Kingdom, Italy, Spain, Russia, and others)
• Latin America (Brazil, Mexico, and others)
• Middle East and Africa

Regional Insights

Asia-Pacific is the dominant region in the global tunnel boring machine market, driven by a surge in infrastructure projects across Southeast Asia. Major metro and infrastructure projects in China, India, Vietnam, the Philippines, Malaysia, and Indonesia are propelling market growth. Recent expansions like multiple metro line openings in China and India’s underwater metro tunnel inauguration in 2024 emphasize this regional leadership. The region benefits from government initiatives promoting sustainable urban transit development.

Recent Developments & News

• June 2025: HS2’s TBM Emily completed a 3.4-mile drive in West London’s Northolt Tunnel, marking significant progress in the UK market.
• April 2025: Larsen & Toubro completed 10.4 km tunneling with TBM Shakti for India’s Rishikesh–Karnaprayag rail line.
• March 2025: India’s largest TBM cleared acceptance tests for Mumbai’s Thane-Borivali twin tunnel project, marking a major milestone.
• February 2025: A TBM started 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 the TBM named Eagle.
• February 2024: HS2 launched the TBM Emily for a new rail line between London and Birmingham.
• 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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