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.
Sample Request Link:
https://www.imarcgroup.com/tunnel-boring-machine-market/requestsample
Market Growth Factors
The primary catalyst for TBM market growth is the global surge in high-capacity underground transportation projects. As urban populations swell, governments are heavily investing in metro, light rail, and high-speed railway systems to alleviate surface congestion and reduce carbon emissions. Regions such as Asia-Pacific, particularly China and India, are leading this trend with multi-billion-dollar investments in sprawling subway networks. Unlike traditional "drill-and-blast" methods, TBMs allow for continuous excavation deep beneath densely populated cities without disrupting existing surface infrastructure or buildings. This capability makes them an indispensable tool for modern transit expansion, as urban planners prioritize subterranean corridors to enhance city-wide mobility and international cross-border connectivity.
Technological innovation is radically improving the efficiency and economic viability of tunneling operations. The integration of Industry 4.0 tools, such as AI-driven geological sensors and IoT-enabled remote monitoring, allows operators to adjust boring parameters in real-time to match changing ground conditions. This reduces the risk of "face collapse" and minimizes cutterhead wear, which historically led to expensive project delays. Furthermore, the development of Multi-Mode TBMs - which can switch between Slurry and Earth Pressure Balance (EPB) modes - enables a single machine to navigate diverse soil and rock types. These advancements significantly lower the total cost of ownership and project timelines, making complex underground projects more attractive to private developers and municipal utility agencies alike.
Beyond transportation, the market is fueled by a critical need for modern utility tunnels and renewable energy infrastructure. Rapid urbanization has strained aging sewerage and water management systems, prompting massive "deep tunnel" projects for wastewater conveyance and flood mitigation. Additionally, the global transition to renewable energy is creating a niche for TBMs in constructing headrace tunnels for hydropower and underground conduits for high-voltage power transmission. There is also a growing shift toward "green tunneling," with manufacturers launching electric-powered TBMs and low-emission excavation systems to comply with stricter environmental regulations. This focus on sustainability ensures a steady demand for specialized boring machines in projects aimed at improving climate resilience and resource management.
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
Get Custom Market Research Report for Your Business:
https://www.imarcgroup.com/request?type=report&id=5698&flag=E
If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.
About Us
IMARC Group is a global management consulting firm that helps the world’s most ambitious changemakers to create a lasting impact. The company provide a comprehensive suite of market entry and expansion services. IMARC offerings include thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape and benchmarking analyses, pricing and cost research, and procurement research.
Contact Us
IMARC Group,
134 N 4th St. Brooklyn, NY 11249, USA,
Email: sales@imarcgroup.com,
Tel No: (D) +91 120 433 0800,
United States: +1-201971-6302
