The global tunnel boring machine market was worth USD 7.01 billion in 2024 and is estimated to grow to USD 11.09 billion by 2032, with a CAGR of approximately 5.9 percent from 2024 to 2032.
Coal mines and tunnels are usually excavated using tunnel boring machines. The development of the global tunnel boring machine business is anticipated to be boosted by an expansion in highway and railroad infrastructure construction. As more machines are utilized for hydropower projects, oil and gas pipelines, and water supply and disposal, the market for tunnel boring machines is anticipated to grow. TBM was more widely accepted since it took less time to operate for construction tasks than traditional technologies. The global tunnel boring machine market would likely advance due to rising spending on railway and road infrastructure projects. The tunnel boring machine market is expected to expand during the forecast period due to an increase in the global construction industry, highway construction, the mining industry, and micro tunnel work. The drilling and blasting method used for tunnel boring might affect the surrounding ground surface by destroying the soil base during the explosion. When the project’s removal of blast-related debris requires greater time and money, TBMs become more crucial. Building a tunnel-boring machine is challenging. The high cost of the necessary equipment and upkeep will hamper the market expansion for tunnel boring machines. During the forecast period, the market is anticipated to have strong growth due to rising government mining projects and growing urbanization.
Tunnel Boring Machine Market Drivers:
Over the past ten years, the field of digital health has grown as more and more healthcare authorities look to technological innovations for answers to challenging market issues. Including all other expanding industries, the market for tunnel boring machines is being pushed by technical advancements like machine learning, cloud-based services, artificial intelligence, and big data. COVID-19 has changed the global healthcare landscape, and as a result, there has been a significant shift in the desire for technology-driven healthcare, which has fuelled the growth of the global tunnel-boring machine market.
Tunnel Boring Machine Market: Restraints
Several factors, including a lack of workers, site accessibility, a shortage of construction materials, and inappropriate prevention measures at construction sites due to pandemic-related mobility restrictions, panic, and operational halts, have slowed the global tunnel boring machine (TBM) Market’s growth. Contrarily, the epidemic is being sustained by market actors’ risk response strategies for budget, design, supply chain, and project management.
Tunnel Boring Machine Market: Segmentation
The global tunnel boring machine market has been segmented into machine type, geology type, and end user.
Based on machine type, the slurry type, earth pressure balance shield TBM, shielded TBM, multi-mode TBM, and others are segments of the global tunnel boring machine market. The demand for tunnel boring machines is expected to rise due to an increase in tunnel construction activity, the slurry-type segment for these facilities accounted for a sizeable market share in 2024. However, Due to a high level of work safety and steady operation under various geological circumstances, EPBMs are increasingly being used in the building of rail tunnels, highways, metro & transit projects, and other such road tunnels; the earth pressure balance shield TBM category is expected to increase significantly over the projected period.
Based on application, the worldwide tunnel boring machine market is segmented into soft ground, hard rock ground, heterogeneous ground, and variable ground. The heterogeneous ground is anticipated to have the highest share in this market in 2024. When glacier increases and reshapes the landscape, diverse ground surfaces are produced. These tunnels, which combine rock portions with uneven lost terrain, are becoming more common in the tunnel regions of Switzerland. The segment with the fastest growth rate was soft ground. Slurry-type tunnel boring machines and earth pressure balance shield boring machines are primarily utilized in soft ground geology types. Innovations in soft ground TBMs center on enhancing the machines’ capacity to maintain face stability and prevent surface settlements even in the most critical soils and circumstances.
Tunnel Boring Machine Market: Regional Landscape
In 2021, Asia Pacific dominated the global tunnel boring machine market due to the increase in population, fast urbanization, and robust economic growth, nations like China, India, and others are promoting large-scale tunneling projects for highways and railways in the region. These elements contribute to the market for tunnel-boring machines expanding. In addition, it is projected that the need for tunnel-boring machines will soon increase due to a large number of metro projects now under construction in India; Asia Pacific dominates the market for tunnel-boring machines.
Tunnel Boring Machine Market: Competitive Landscape
Some of the main competitors dominating the global tunnel boring machine market include- China Railway Engineering Equipment Group Co., Ltd, Dalian Huarui Heavy Industry Group Co., Ltd, China Railway Construction Heavy Industry Co., Ltd., Herrenknecht AG, Hitachi Zosen Corporation, IHI Corporation, Kawasaki Heavy Industries Ltd, Northern Heavy Industries Group Co., Ltd, Komatsu Ltd, Robbins, Bosch Rexroth AG, Qinhuangdao Tianye Tolian Heavy Industry Co., Ltd, Mitsubishi Heavy Industries, Ltd., and The Boring Company.
COVID-19 Impact on Tunnel Boring Machine Market
The COVID-19 outbreak impacted the market for tunnel boring machines. The constraints that limit the market include a lack of labor, accessibility issues, a scarcity of building supplies, and ineffective preventative measures at construction sites. Mobility constraints, fear, and operational halts—three of the most well-known difficulties faced by tunneling projects worldwide—were brought on by the pandemic, which inhibited the market growth for tunnel boring machines. However, market participants can contribute to the industry’s expansion throughout the pandemic thanks to the risk response methods they have specified for design, budget, supply chain, and project management.
Recent Developments
- June 2022: The delivery of the 84,000 m3 LPG carrier CRYSTAL OASIS (Kawasaki hull No. 1752) to KUMIAI NAVIGATION (PTE) LTD. was announced by Kawasaki Heavy Industries, Ltd. The company recently constructed its 67th LPG transporter.
- June 2022: The Dalian COSCO KHI Ship Engineering Co., Ltd. (DACKS), a facility run in cooperation with China COSCO Shipping Corporation Limited and based in Dalian City, China, announced the delivery of the bulk carrier PHIL HOKUSAI (Kawasaki hull No. 8083, DACK hull No. 117) (China COSCO Shipping).
Global Tunnel Boring Machine Market is segmented as follows:
Tunnel Boring Machine Market by Machine Type Outlook (Revenue, USD Billion, 2018 – 2032)
- Slurry TBM
- Earth Pressure Balance Shield TBM
- Shielded TBM
- Multi-Mode TBM
- Others
Tunnel Boring Machine Market by Geology Type Outlook (Revenue, USD Billion, 2018 – 2032)
- Soft Ground
- Hard Rock Ground
- Heterogenous Ground
- Variable Ground
Tunnel Boring Machine Market by End-users Outlook (Revenue, USD Billion, 2018 – 2032)
- Road Transport
- Railway Transport
- Metro & Transit
- Utilities
- Mining
- Oil & Gas
- Others
Tunnel Boring Machine Market by Region Outlook (Revenue, USD Billion, 2018 – 2032)
- North America
- Europe
- France
- The UK
- Spain
- Germany
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- New Zealand
- Australia
- South Korea
- Southeast Asia
- Rest of Southeast Asia
- The Middle East & Africa
- Saudi Arabia
- UAE
- Egypt
- Kuwait
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Brazil
- Argentina
- Rest of Latin America
| Tunnel Boring Machine Market Report Scope |
| Report Attribute | Details |
| Market Size Value in 2024 | USD 7.01 billion |
| Revenue Forecast in 2032 | USD 11.09 billion |
| Growth Rate: | CAGR of 5.9 % from 2024 to 2032 |
| Base Year for Estimation: | 2024 |
| Historical Data: | 2018 – 2023 |
| Forecast Years: | 2024 – 2032 |
| Quantitative Units: | Revenue in USD million and CAGR from 2024 to 2032 |
| Report Coverage: | Revenue forecast, company ranking, Trends
competitive landscape, and growth factors |
| Segments Covered: | Machine Type, Geology Type, End User, and Region |
| Regional Scope: | North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
| Country Scope: | U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico and Others |
| Key Companies Profiled: | China Railway Engineering Equipment Group Co., Ltd, Dalian Huarui Heavy Industry Group Co., Ltd, China Railway Construction Heavy Industry Co., Ltd., Herrenknecht AG, Hitachi Zosen Corporation, IHI Corporation, Kawasaki Heavy Industries Ltd and Others |
Table of Content
Tunnel Boring Machine Market Size, Share, Growth, and Forecast Report
1. Introduction
1.1. Report Description
1.1.1. Aim of the Report
1.1.2. Prospective Audience
1.1.3. Unique Selling Prepositions and Key Takeaways from the Report
1.2. Scope of the Research Study
1.3. Approach/Research Methodology
1.3.1. Secondary Research
1.3.2. Primary Research
1.3.3. Expert Panel Review
1.3.4. Market Data Breakdown and Data Triangulation
1.3.5. Research Approach for Market Size Estimation
1.3.5.1. Top-Down Approach
1.3.5.2. Bottom-Up Approach
1.3.6. Key Assumptions
1.4. Market Segmentation
1.4.1. Machine Type
1.4.2. Geology Type
1.4.3. End-users
2. Tunnel Boring Machine Market Overview
2.1. Introduction
2.2. Analysis by Machine Type, 2018-2032 (US$ Billion)
2.3. Analysis by Geology Type, 2018-2032 (US$ Billion)
2.4. Analysis by End-users, 2018-2032 (US$ Billion)
2.5. Market Analysis by Region, 2018-2032 (US$ Billion)
3. Tunnel Boring Machine Market Dynamics
3.1. Introduction
3.2. Growth Drivers
3.3. Growth Restraints
3.4. Growth Opportunities
3.5. Porter’s Five Forces Analysis
3.5.1. Threat of New Entrants
3.5.2. Bargaining Power of Buyers/Consumers
3.5.3. Bargaining Power of Suppliers
3.5.4. Threat of Substitute Machine Types
3.5.5. Intensity of Competitive Rivalry
3.6. Attractiveness Analysis
3.6.1. Machine Type
3.6.2. Geology Type
3.6.3. End-users
3.6.4. Region
3.7. Value Chain Analysis
4. Tunnel Boring Machine Market Competition Analysis
4.1. Tunnel Boring Machine Market Share Analysis by Company, 2019 – 2023
4.1.1. Top 3 Players, 2019 – 2023
4.1.2. Top 6 Players, 2019 – 2023
4.2. Strategic Initiatives
4.2.1. New Products Launch
4.2.2. Mergers/Acquisitions
4.2.3. Agreement and Collaborations
4.2.4. Partnerships, Joint Ventures, Expansion, and Distribution
5. Global Tunnel Boring Machine Market Analysis by Machine Type, Geology Type and End-users, 2018-2032 (US$ Billion)
5.1. Machine Type
5.1.1. Global Tunnel Boring Machine Market Share, by Machine Type, 2023 and 2032
5.1.2. Global Tunnel Boring Machine Market Revenue, by Machine Type, 2018-2032 (US$ Billion)
5.1.3. By Slurry TBM Market Analysis 2018-2032 (US$ Billion)
5.1.4. By Earth Pressure Balance Shield TBM Market Analysis 2018-2032 (US$ Billion)
5.1.5. By Shielded TBM Market Analysis 2018-2032 (US$ Billion)
5.1.6. By Multi-Mode TBM Market Analysis 2018-2032 (US$ Billion)
5.2. Geology Type
5.2.1. Market Share, by Geology Type, 2023 and 2032
5.2.2. Market Revenue, by Geology Type, 2018-2032 (US$ Billion)
5.2.3. By Soft Ground Market Analysis 2018-2032 (US$ Billion)
5.2.4. By Hard Rock Ground Market Analysis 2018-2032 (US$ Billion)
5.2.5. By Heterogenous Ground Market Analysis 2018-2032 (US$ Billion)
5.2.6. By Variable Ground Market Analysis 2018-2032 (US$ Billion)
5.3. End-users
5.3.1. Market Share, by End-users, 2023 and 2032
5.3.2. Market Revenue, by End-users, 2018-2032 (US$ Billion)
5.3.3. By Road Transport Market Analysis 2018-2032 (US$ Billion)
5.3.4. By Railway Transport Market Analysis 2018-2032 (US$ Billion)
5.3.5. By Metro & Transit Market Analysis 2018-2032 (US$ Billion)
5.3.6. By Utilities Market Analysis 2018-2032 (US$ Billion)
5.3.7. By Mining Market Analysis 2018-2032 (US$ Billion)
5.3.8. By Oil & Gas Market Analysis 2018-2032 (US$ Billion)
6. Global Tunnel Boring Machine Market Machine Type Analysis by Region, 2018-2032 (US$ Billion)
6.1. Slurry TBM Market Analysis 2018-2032 (US$ Billion)
6.1.1. North America
6.1.2. Europe
6.1.3. Asia Pacific
6.1.4. Latin America
6.1.5. Middle East & Africa
6.2. Earth Pressure Balance Shield TBM Market Analysis 2018-2032 (US$ Billion)
6.3. Shielded TBM Market Analysis 2018-2032 (US$ Billion)
6.4. Multi-Mode TBM Market Analysis 2018-2032 (US$ Billion)
6.5. Other Machine Types Market Analysis 2018-2032 (US$ Billion)
7. Global Tunnel Boring Machine Market Geology Type Analysis by Region, 2018-2032 (US$ Billion)
7.1. Soft Ground Market Analysis 2018-2032 (US$ Billion)
7.1.1. North America
7.1.2. Europe
7.1.3. Asia Pacific
7.1.4. Latin America
7.1.5. Middle East & Africa
7.2. Hard Rock Ground Market Analysis 2018-2032 (US$ Billion)
7.3. Heterogenous Ground Market Analysis 2018-2032 (US$ Billion)
7.4. Variable Ground Market Analysis 2018-2032 (US$ Billion)
8. Global Tunnel Boring Machine Market End-users Analysis by Region, 2018-2032 (US$ Billion)
8.1. Road Transport Market Analysis 2018-2032 (US$ Billion)
8.1.1. North America
8.1.2. Europe
8.1.3. Asia Pacific
8.1.4. Latin America
8.1.5. Middle East & Africa
8.2. Railway Transport Market Analysis 2018-2032 (US$ Billion)
8.3. Metro & Transit Market Analysis 2018-2032 (US$ Billion)
8.4. Utilities Market Analysis 2018-2032 (US$ Billion)
8.5. Mining Market Analysis 2018-2032 (US$ Billion)
8.6. Oil & Gas Market Analysis 2018-2032 (US$ Billion)
9. Tunnel Boring Machine Market Analysis by Geography, 2018-2032 (US$ Billion)
9.1. North America Tunnel Boring Machine Market Analysis 2018-2032 (US$ Billion)
9.1.1. U.S. Tunnel Boring Machine Market Analysis 2018-2032 (US$ Billion)
9.1.1.1. Machine Type
9.1.1.2. Geology Type
9.1.1.3. End-users
9.1.2. Canada Tunnel Boring Machine Market Analysis 2018-2032 (US$ Billion)
9.1.3. Mexico Tunnel Boring Machine Market Analysis 2018-2032 (US$ Billion)
9.2. Europe Tunnel Boring Machine Market Analysis 2018-2032 (US$ Billion)
9.2.1. UK Tunnel Boring Machine Market Analysis 2018-2032 (US$ Billion)
9.2.1.1. Machine Type
9.2.1.2. Geology Type
9.2.1.3. End-users
9.2.2. France Tunnel Boring Machine Market Analysis 2018-2032 (US$ Billion)
9.2.3. Germany Tunnel Boring Machine Market Analysis 2018-2032 (US$ Billion)
9.2.4. Spain Tunnel Boring Machine Market Analysis 2018-2032 (US$ Billion)
9.2.5. Russia Tunnel Boring Machine Market Analysis 2018-2032 (US$ Billion)
9.2.6. Italy Tunnel Boring Machine Market Analysis 2018-2032 (US$ Billion)
9.2.7. Rest of Europe Tunnel Boring Machine Market Analysis 2018-2032 (US$ Billion)
9.3. Asia Pacific Tunnel Boring Machine Market Analysis 2018-2032 (US$ Billion)
9.3.1. China Tunnel Boring Machine Market Analysis 2018-2032 (US$ Billion)
9.3.1.1. Machine Type
9.3.1.2. Geology Type
9.3.1.3. End-users
9.3.2. Japan Tunnel Boring Machine Market Analysis 2018-2032 (US$ Billion)
9.3.3. South Korea Tunnel Boring Machine Market Analysis 2018-2032 (US$ Billion)
9.3.4. India Tunnel Boring Machine Market Analysis 2018-2032 (US$ Billion)
9.3.5. Australia Tunnel Boring Machine Market Analysis 2018-2032 (US$ Billion)
9.3.6. Southeast Asia Tunnel Boring Machine Market Analysis 2018-2032 (US$ Billion)
9.3.7. Taiwan Tunnel Boring Machine Market Analysis 2018-2032 (US$ Billion)
9.3.8. Rest of Asia Pacific Tunnel Boring Machine Market Analysis 2018-2032 (US$ Billion)
9.4. Latin America Tunnel Boring Machine Market Analysis 2018-2032 (US$ Billion)
9.4.1. Brazil Tunnel Boring Machine Market Analysis 2018-2032 (US$ Billion)
9.4.1.1. Machine Type
9.4.1.2. Geology Type
9.4.1.3. End-users
9.4.2. Argentina Tunnel Boring Machine Market Analysis 2018-2032 (US$ Billion)
9.4.3. Rest of Latin America Tunnel Boring Machine Market Analysis 2018-2032 (US$ Billion)
9.5. Middle East Tunnel Boring Machine Market Analysis 2018-2032 (US$ Billion)
9.5.1. Israel Tunnel Boring Machine Market Analysis 2018-2032 (US$ Billion)
9.5.1.1. Machine Type
9.5.1.2. Geology Type
9.5.1.3. End-users
9.5.2. Turkey Tunnel Boring Machine Market Analysis 2018-2032 (US$ Billion)
9.5.3. Saudi Arabia Tunnel Boring Machine Market Analysis 2018-2032 (US$ Billion)
9.5.4. UAE Tunnel Boring Machine Market Analysis 2018-2032 (US$ Billion)
9.5.5. Rest of Middle East Tunnel Boring Machine Market Analysis 2018-2032 (US$ Billion)
9.6. Africa Tunnel Boring Machine Market Analysis 2018-2032 (US$ Billion)
9.6.1. Egypt Tunnel Boring Machine Market Analysis 2018-2032 (US$ Billion)
9.6.1.1. Machine Type
9.6.1.2. Geology Type
9.6.1.3. End-users
9.6.2. South Africa Tunnel Boring Machine Market Analysis 2018-2032 (US$ Billion)
9.6.3. Rest of Africa Tunnel Boring Machine Market Analysis 2018-2032 (US$ Billion)
10. Company Profiles
10.1. China Railway Engineering Equipment Group Co Ltd
10.1.1. Company Overview
10.1.2. Financial Performance
10.1.3. Product Benchmarking
10.1.4. Strategic Initiatives
10.2. Dalian Huarui Heavy Industry Group Co Ltd
10.3. China Railway Construction Heavy Industry Co Ltd
10.4. Herrenknecht AG
10.5. Hitachi Zosen Corporation
10.6. IHI Corporation
10.7. Kawasaki Heavy Industries Ltd
10.8. Northern Heavy Industries Group Co Ltd
10.9. Komatsu Ltd
10.10. Robbins
10.11. Bosch Rexroth AG
10.12. Qinhuangdao Tianye Tolian Heavy Industry Co Ltd
10.13. Mitsubishi Heavy Industries Ltd
10.14. The Boring Company
11. COVID-19 Impact Analysis
11.1. Global Tunnel Boring Machine Market, 2023 – 2032, Pre-V/S Post COVID 19
11.2. Estimated Impact of The Coronavirus (Covid-19) Epidemic on the Tunnel Boring Machine Market Size In 2023, By Scenario
11.3. Impact on Supply Chain and Production in Tunnel Boring Machine Market
11.4. Impact on Import and Export
12. Import-Export Analysis
12.1. North America Tunnel Boring Machine Import-Export, 2018 – 2023
12.2. Europe Tunnel Boring Machine Import-Export, 2018 – 2023
12.3. Asia Pacific Tunnel Boring Machine Import-Export, 2018 – 2023
12.4. Latin America Tunnel Boring Machine Import-Export, 2018 – 2023
12.5. Middle East America Tunnel Boring Machine Import-Export, 2018 – 2023
12.6. Africa Tunnel Boring Machine Import-Export, 2018 – 2023
13. Tunnel Boring Machine Marketing Channel Analysis
13.1. Marketing Channel
13.1.1. Direct Marketing
13.1.2. Indirect Marketing
13.1.3. Development Trend
13.2. Market Positioning
14. Tunnel Boring Machine Manufacturing Cost Analysis
14.1. Key Raw Materials
14.2. Key Raw Material Suppliers
14.3. Market Concentration Rate
14.4. Manufacturing Cost Structure
14.5. Process Analysis
15. Conclusion
Tunnel Boring Machine Market by Machine Type Outlook (Revenue, USD Billion, 2018 – 2032)
- Slurry TBM
- Earth Pressure Balance Shield TBM
- Shielded TBM
- Multi-Mode TBM
- Others
Tunnel Boring Machine Market by Geology Type Outlook (Revenue, USD Billion, 2018 – 2032)
- Soft Ground
- Hard Rock Ground
- Heterogenous Ground
- Variable Ground
Tunnel Boring Machine Market by End-users Outlook (Revenue, USD Billion, 2018 – 2032)
- Road Transport
- Railway Transport
- Metro & Transit
- Utilities
- Mining
- Oil & Gas
- Others
