The global Tunnel Boring Machine Market size reached 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 of 2025-2033. This growth is driven by the expanding need for underground infrastructure in urban areas, increasing transportation investments, and advancements in tunneling technologies. The slurry TBM segment leads owing to its efficiency in managing soft ground conditions. Asia-Pacific dominates the market, led by infrastructure projects in countries like 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

• Current Market Size: USD 6.0 Billion in 2024
• CAGR: 3.48%
• Forecast Period: 2025-2033
• Major drivers include increased use of TBMs in mining and advancements in rock-cutting technology.
• Governments are investing heavily in infrastructure projects like water pipelines, hydropower, and oil and gas pipelines.
• Technological convergence with tunnel automation systems is improving excavation workflows and safety.
• Asia-Pacific leads the market due to major metro and transit expansions.
• Challenges include high initial investment costs and technical complexities in varied geological conditions.

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Market Growth Factors

The tunnel boring machine (TBM) market is propelled by increasing adoption in the mining sector alongside continuous innovations in rock-cutting technologies. This has led to enhanced efficiency and safety in excavation processes. Furthermore, growing demand in well drilling machinery complements the expansion of TBM applications. Governments worldwide are making significant investments in infrastructure development, such as water pipelines, hydropower projects, and oil and gas pipelines, thus driving the demand for TBMs.

Technological advancements have led to the convergence of TBMs with tunnel automation systems, streamlining excavation workflows and substantially improving safety metrics. Awareness about TBMs’ advantages — including high specific gravity, viscosity, and stability under high pressure — has increased, creating a positive outlook in the market. Additionally, the rising trend of tunnel automation is bolstering growth prospects by improving operational efficiencies and reducing risk.

The growth in transportation projects globally, such as extensive highway and metro developments, is accelerating the TBM market. For example, the Government of India plans a 200,000 km national highway network by 2025 with investments worth Rs 17 trillion toward highway development, while the Hampton Roads Bridge-Tunnel Expansion Project in the U.S. budgeted at US$ 3.8 Billion is ongoing. These extensive transportation projects are fueling TBM demand by necessitating underground infrastructure development to alleviate surface disruptions.

Market Segmentation

Machine Type:

• Slurry TBM: Specialized for excavating tunnels in soft ground conditions like clay and sand; stabilizes tunnel face with bentonite or polymer slurry; used in subways, sewer, and underwater tunnels.
• Earth Pressure Balance Shield TBM
• Shielded TBM
• Multi-Mode TBM
• Others

Product Type:

• Soft Ground TBM
• Hard Ground TBM: Designed for dense rocky formations such as granite and basalt; uses cutterheads reinforced with tungsten carbide; widely used in transportation tunnels and underground infrastructure for faster, cost-effective excavation.

Application:

• Traffic Tunneling: Excavation for underground vehicular passages that reduce surface disruption and traffic congestion; used in urban road tunnels and underground highways.
• Utility Tunneling

End User:

• Road Transport
• Railway Transport
• Metro and Transit: Largest market share; essential for efficient excavation of subway tunnels, underground stations, and transit corridors with minimal surface disruption; supports sustainable urban development.
• Utilities
• Mining
• Oil and Gas
• Others

Regional Insights

Asia-Pacific dominates the global tunnel boring machine market due to a surge in infrastructure projects across countries such as China, India, Vietnam, the Philippines, Malaysia, and Indonesia. Major metro and transit expansion activities, including the opening of new metro lines in Chinese cities and the inauguration of Kolkata’s underwater metro tunnel in India in March 2024, are propelling market growth. Government initiatives replacing bus rapid transit systems with metro rail lines, as in Hanoi, further underpin this dominance.

Recent Developements & News

• June 2025: HS2's TBM Emily completed a 3.4-mile tunnel drive in West London’s Northolt Tunnel, marking significant UK market progress.
• April 2025: Larsen & Toubro used TBM Shakti to finish 10.4 km tunneling for India’s longest rail tunnel in the Rishikesh–Karnaprayag project.
• March 2025: Herrenknecht-built TBM cleared factory tests for Mumbai's 11.84 km Thane-Borivali twin tunnel, India’s longest urban tunnel.
• February 2025: TBM commenced work on a 5.6 km tunnel for VERBUND’s Kaprun-Hauptstufe power plant upgrade in Austria.
• January 2024: Chennai Metro Rail Ltd launched the Eagle TBM for metro extension.
• February 2024: HS2 launched the third TBM, Emily, for the London-Birmingham railway.
• July 2023: Chenab Valley Power Projects Limited launched 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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