Global Tunnel Boring Machine Market is estimated to be valued at USD 6,712.6 Mn in 2025 and is expected to reach USD 9,508.5 Mn by 2032, growing at a compound annual growth rate (CAGR) of 5.1% from 2025 to 2032.
Report Coverage
Report Details
Base Year:
2024
Market Size in 2025:
USD 6,712.6 Mn
Historical Data for:
2020 To 2024
Forecast Period:
2025 To 2032
Forecast Period 2025 to 2032 CAGR:
5.10%
2032 Value Projection:
USD 9,508.5 Mn
Figure. Global Tunnel Boring Machine Market Share (%), By Region 2025
Tunnel Boring Machine (TBM) is a as complex piece of heavy machinery used for underground bored tunnels with a circular cross-section. TBMs can bore through any type of soil or rock and are capable of creating large circular tunnels for infrastructure projects, including transportation systems like subways, highways, and water conveyance projects. Recent years have seen a rise in mega infrastructure projects across the world involving long railway and metro lines, which has augmented the demand for powerful TBMs that can accelerate the process of underground boring. Growing investments in modernizing urban transit systems is a key factor positively impacting the tunnel boring machine market. Tunnel boring machines are engineering marvels used for underground excavation during the construction of road and railway tunnels. These machines cut through various rock and soil strata using a circular rotating cutting tool mounted on the front and simultaneously line the tunnel with precast concrete segments. Technological advancement over the years have made tunnel boring more efficient, safer, and cost-effective. The growing preference for underground infrastructure to decongest traffic and protect the environment is a key factor driving the demand for tunnel boring machines worldwide.
Market Dynamics:
The global tunnel boring machine market is driven by rising urbanization and growing investments in public infrastructure projects. The demand for efficient public transport systems is increasing with expanding city populations, which has boosted the use of tunnels and TBMs. However, the high initial costs of TBMs and challenging ground conditions can impede their uptake. On the positive side, technological advances are making TBMs more capable of handling harder rocks and variable geology. Growing demand in emerging economies presents lucrative opportunities for manufacturers to expand in new markets. Governments across regions are focused on improving connectivity through ambitious tunneling projects.
Key features of the study:
This report provides in-depth analysis of the global tunnel boring machine market, and provides market size (US$ Million) and compound annual growth rate (CAGR%) for the forecast period (2025-2032), considering 2024 as the base year.
It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players
It profiles key players in the global tunnel boring machine market based on the following parameters - company highlights, products portfolio, key highlights, financial performance, and strategies
Key companies covered as a part of this study include Komatsu Ltd., SN Mercantile India Pvt. Ltd., High Speed Two Ltd., Amberg Engineering, Mammoet, Hitachi Zosen Sakai Works, China Railway Tunnel Group, Sika AG, Liaoning Censcience End-Use Co. Ltd., Kawasaki Heavy Industries, Ltd., Herrenknecht AG, The Robbins Company, TERRATEC Ltd., Japan Tunnel Systems Corp., Mitsubishi Heavy Industries, Ltd.
Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
The global tunnel boring machine market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
Tunnel Boring Machine Market Segmentation:
Tunnel Boring Machine Market By Product Type
Hard Rock TBM
Shielded TBM
Open Type TBM
Soft Ground TBM
Slurry Shield TBM
Earth Pressure TBM
Open Face Type TBM
Others
Heterogeneous Ground TBM
Tunnel Boring Machine Market By End-use
Mining
Oil & Gas
Transport
Utility
Others
Tunnel Boring Machine Market By Region
North America
Europe
Asia Pacific
Latin America
Middle East & Africa
Company Profiles
Komatsu Ltd.,
SN Mercantile India Pvt. Ltd.,
High Speed Two Ltd.,
Amberg Engineering,
Mammoet,
Hitachi Zosen Sakai Works,
China Railway Tunnel Group,
Sika AG,
Liaoning Censcience End-Use Co. Ltd.,
Kawasaki Heavy Industries, Ltd.,
Herrenknecht AG,
The Robbins Company,
TERRATEC Ltd.,
Japan Tunnel Systems Corp.,
Mitsubishi Heavy Industries, Ltd.
Table of Contents
1. Research Objectives and Assumptions
Research Objectives
Assumptions
Abbreviations
2. Market Purview
Report Description
Market Definition and Scope
Executive Summary
Tunnel Boring Machine Market, By Product Type
Tunnel Boring Machine Market, By End-use
Tunnel Boring Machine Market, By Region
Coherent Opportunity Map (COM)
3. Market Dynamics, Regulations, and Trends Analysis
Market Dynamics
Drivers
Growing infrastructure development worldwide
Need for improved transportation connectivity
Restraints
High initial investment cost
Risk of tunnel collapse during construction
Opportunities
Growing demand in Asia Pacific region
Adoption of technologically advanced machines
Key Highlights
Regulatory Scenario
Recent Trends
Product Launches/Approvals
PEST Analysis
PORTER's Analysis
Mergers, Acquisitions, and Collaborations
4. Global Tunnel Boring Machine Market - Impact of Coronavirus (COVID-19) Pandemic
COVID-19 Epidemiology
Supply Side and Demand Side Analysis
Economic Impact
5. Global Tunnel Boring Machine Market, By Product Type, 2020-2032, (US$ Million)
Introduction
Market Share Analysis, 2025 and 2032 (%)
Y-o-Y Growth Analysis, 2021 - 2032
Segment Trends
Hard Rock TBM
Introduction
Market Size and Forecast, and Y-o-Y Growth, 2020-2032,(US$ Million)
Sub- Segment (Shielded TBM, Open Type TBM)
Soft Ground TBM
Introduction
Market Size and Forecast, and Y-o-Y Growth, 2020-2032,(US$ Million)
Sub- Segment (Slurry Shield TBM , Earth Pressure TBM, Open Face Type TBM, Others)
Heterogeneous Ground TBM
Introduction
Market Size and Forecast, and Y-o-Y Growth, 2020-2032,(US$ Million)
6. Global Tunnel Boring Machine Market, By End-use, 2020-2032, (US$ Million)
Introduction
Market Share Analysis, 2025 and 2032 (%)
Y-o-Y Growth Analysis, 2021 - 2032
Segment Trends
Mining
Introduction
Market Size and Forecast, and Y-o-Y Growth, 2020-2032,(US$ Million)
Oil & Gas
Introduction
Market Size and Forecast, and Y-o-Y Growth, 2020-2032,(US$ Million)
Transport
Introduction
Market Size and Forecast, and Y-o-Y Growth, 2020-2032,(US$ Million)
Utility
Introduction
Market Size and Forecast, and Y-o-Y Growth, 2020-2032,(US$ Million)
Others
Introduction
Market Size and Forecast, and Y-o-Y Growth, 2020-2032,(US$ Million)
7. Global Tunnel Boring Machine Market, By Region, 2020-2032, (US$ Million)
Introduction
Market Share Analysis, By Region, 2025 and 2032 (%)
Y-o-Y Growth Analysis, For Region, 2021 - 2032
Country Trends
North America
Introduction
Market Size and Forecast, and Y-o-Y Growth, By Product Type, 2020-2032,(US$ Million)
Market Size and Forecast, and Y-o-Y Growth, By End-use, 2020-2032,(US$ Million)
Market Size and Forecast, and Y-o-Y Growth, By Country, 2020-2032,(US$ Million)
U.S.
Canada
Europe
Introduction
Market Size and Forecast, and Y-o-Y Growth, By Product Type, 2020-2032,(US$ Million)
Market Size and Forecast, and Y-o-Y Growth, By End-use, 2020-2032,(US$ Million)
Market Size and Forecast, and Y-o-Y Growth, By Country, 2020-2032,(US$ Million)
Germany
U.K.
Spain
France
Italy
Russia
Rest of Europe
Asia Pacific
Introduction
Market Size and Forecast, and Y-o-Y Growth, By Product Type, 2020-2032,(US$ Million)
Market Size and Forecast, and Y-o-Y Growth, By End-use, 2020-2032,(US$ Million)
Market Size and Forecast, and Y-o-Y Growth, By Country, 2020-2032,(US$ Million)
China
India
Japan
Australia
South Korea
ASEAN
Rest of Asia Pacific
Latin America
Introduction
Market Size and Forecast, and Y-o-Y Growth, By Product Type, 2020-2032,(US$ Million)
Market Size and Forecast, and Y-o-Y Growth, By End-use, 2020-2032,(US$ Million)
Market Size and Forecast, and Y-o-Y Growth, By Country, 2020-2032,(US$ Million)
Brazil
Argentina
Mexico
Rest of Latin America
Middle East
Introduction
Market Size and Forecast, and Y-o-Y Growth, By Product Type, 2020-2032,(US$ Million)
Market Size and Forecast, and Y-o-Y Growth, By End-use, 2020-2032,(US$ Million)
Market Size and Forecast, and Y-o-Y Growth, By Country, 2020-2032,(US$ Million)
GCC Countries
Israel
Rest of Middle East
Africa
Introduction
Market Size and Forecast, and Y-o-Y Growth, By Product Type, 2020-2032,(US$ Million)
Market Size and Forecast, and Y-o-Y Growth, By End-use, 2020-2032,(US$ Million)
Market Size and Forecast, and Y-o-Y Growth, By Country, 2020-2032,(US$ Million)