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Tunnel Boring Machine Market

Global Tunnel Boring Machine Market Size, Share, Forecast: By Machine Type: Slurry TBM, Earth pressure balance shield TBM, Shielded TBM, Multi-mode TBM, Other Machines; By Geology Type: Soft Ground, Hard Rock Ground, Heterogenous Ground, Variable Ground; By End Use; Regional Analysis; Competitive Landscape; 2024-2032

Global Tunnel Boring Machine Market Outlook

The global tunnel boring machine market stood at a value of around USD 6,652.44 million in 2023. The market is further expected to grow at a CAGR of 6% in the forecast period of 2024-2032 to attain USD 11,239.16 million by 2032.

 

Global Tunnel Boring Machine Market

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Growing Awareness about the Advantages of Slurry Type TBM to Bolster the Growth of the Tunnel Boring Machine Industry

Based on machine type, slurry TBM accounts for a significant share in the market, owing to the growing awareness about the various advantages of this type, including high specific gravity and high viscosity, which pressure controls the cutting face, resulting in stability that is obtained even under high pressure. The diameter of slurry TBM is high, making it ideal for high-magnitude excavation. Meanwhile, the shielded TBM segment is anticipated to grow at a significant rate in the forecast period, owing to its suitability for a broad range of ground conditions. The shielded TBM can work efficiently in between tough rocks, soft strata, and fractured zones, among others. The product secures a large internal space, which enables safety maintenance and facilitates efficiency in operations.

 

The Asia Pacific Accounts for a Significant Share in the Market

The Asia Pacific is anticipated to be a significant region contributing to the growth of the market. This can be attributed to the increasing tunnel construction projects in countries like India, China, and South Korea, among others. Further, the market is expected to be aided by the increasing government investments towards the improvement of road and rail networks. A surge in government investments in tunnel projects to bolster the commutation between major cities is expected to aid the regional market.

 

Tunnel Boring Machine: Market Segmentation

A tunnel boring machine, also referred to as a mole, is a machine designed to excavate tunnels. The machine can carry out deep underground excavations, or can even excavate tunnels with a highly specific circular cross-section and sharp curves.

 

Global Tunnel Boring Machine Market by Segment

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Based on machine type, the market is divided into:

  • Slurry TBM
  • Earth Pressure Balance Shield TBM
  • Shielded TBM
  • Multi-mode TBM
  • Other Machines

On the basis of geology type, the industry is segmented into:

  • Soft Ground
  • Hard Rock Ground
  • Heterogenous Ground 
  • Variable Ground

The significant end use of the product include:

  • Road Transport
  • Railway Transport
  • Metro and Transit
  • Utilities
  • Mining 
  • Oil and Gas
  • Others

The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

 

Global Tunnel Boring Machine Market by Region

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Rapid Development of Road and Railway Tunnels, Particularly in Emerging Nations, to Boost the Growth of the Tunnel Boring Machine Industry

The global tunnel boring machine industry is driven by the rapid urbanisation and industrialisation and the growing use of the product to develop road and railway tunnels. The increasing government expenditure towards the development of road and railway networks in emerging economies to enhance the convenience of the working class is aiding the industry growth. In addition, the rising travel and tourism sector in various countries is expected to be a significant factor driving the market growth. Over the forecast period, the increasing underground mining operations in developing countries are expected to provide a further impetus to the market.

 

Key Industry Players in the Global Tunnel Boring Machine Market

The report gives a detailed analysis of the following key players in the global tunnel boring machine market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

  • Komatsu Ltd.
  • China Railway Engineering Equipment Group Co., Ltd.
  • Herrenknecht AG
  • Hitachi Zosen Corporation
  • Kawasaki Heavy Industries, Ltd.
  • Others

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.

 

Key Highlights of the Report

REPORT FEATURES DETAILS
Base Year 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:

  • Machine Type
  • Geology Type
  • End Use
  • Region
Breakup by Machine Type
  • Slurry TBM
  • Earth pressure balance shield TBM
  • Shielded TBM
  • Multi-mode TBM
  • Other Machines
Breakup by Geology Type
  • Soft Ground
  • Hard Rock Ground
  • Heterogenous Ground
  • Variable Ground
Breakup by End Use
  • Road Transport
  • Railway Transport
  • Metro and Transit
  • Utilities
  • Mining
  • Oil and Gas
  • Others
Breakup by Region
  • North America
    • United States of America 
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Italy
    • Others
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Australia
    • Others
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • United Arab Emirates
    • Nigeria
    • South Africa
    • Others
Market Dynamics
  • SWOT Analysis
  • Porter's Five Forces Analysis
  • Key Indicators for Demand
  • Key Indicators for Price
Competitive Landscape
  • Market Structure
  • Company Profiles
    • Company Overview
    • Product Portfolio
    • Demographic Reach and Achievements
    • Certifications
Companies Covered
  • Komatsu Ltd.
  • China Railway Engineering Equipment Group Co., Ltd.
  • Herrenknecht AG
  • Hitachi Zosen Corporation
  • Kawasaki Heavy Industries, Ltd.
  • Others
Report Price and Purchase Option Explore our purchase options that are best suited to your resources and industry needs.
Delivery Format Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option.

 

*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.

1    Preface
2    Report Coverage – Key Segmentation and Scope
3    Report Description

    3.1    Market Definition and Outlook
    3.2    Properties and Applications
    3.3    Market Analysis
    3.4    Key Players
4    Key Assumptions
5    Executive Summary

    5.1    Overview
    5.2    Key Drivers
    5.3    Key Developments
    5.4    Competitive Structure
    5.5    Key Industrial Trends
6    Snapshot
    6.1    Global
    6.2    Regional
7    Opportunities and Challenges in the Market
8    Global Tunnel Boring Machine Market Analysis

    8.1    Key Industry Highlights
    8.2    Global Tunnel Boring Machine Historical Market (2018-2023) 
    8.3    Global Tunnel Boring Machine Market Forecast (2024-2032)
    8.4    Global Tunnel Boring Machine Market by Machine Type
        8.4.1    Slurry TBM
            8.4.1.1    Historical Trend (2018-2023)
            8.4.1.2    Forecast Trend (2024-2032)
        8.4.2    Earth pressure balance shield TBM
            8.4.2.1    Historical Trend (2018-2023)
            8.4.2.2    Forecast Trend (2024-2032)
        8.4.3    Shielded TBM
            8.4.3.1    Historical Trend (2018-2023)
            8.4.3.2    Forecast Trend (2024-2032)
        8.4.4    Multi-mode TBM
            8.4.4.1    Historical Trend (2018-2023)
            8.4.4.2    Forecast Trend (2024-2032)
        8.4.5    Other Machines
    8.5    Global Tunnel Boring Machine Market by Geology Type
        8.5.1    Soft Ground
            8.5.1.1    Historical Trend (2018-2023)
            8.5.1.2    Forecast Trend (2024-2032)
        8.5.2    Hard Rock Ground
            8.5.2.1    Historical Trend (2018-2023)
            8.5.2.2    Forecast Trend (2024-2032)
        8.5.3    Heterogenous Ground
            8.5.3.1    Historical Trend (2018-2023)
            8.5.3.2    Forecast Trend (2024-2032)
        8.5.4    Variable Ground
            8.5.4.1    Historical Trend (2018-2023)
            8.5.4.2    Forecast Trend (2024-2032)
    8.6    Global Tunnel Boring Machine Market by End Use
        8.6.1    Road Transport
            8.6.1.1    Historical Trend (2018-2023)
            8.6.1.2    Forecast Trend (2024-2032)
        8.6.2    Railway Transport
            8.6.2.1    Historical Trend (2018-2023)
            8.6.2.2    Forecast Trend (2024-2032)
        8.6.3    Metro and Transit
            8.6.3.1    Historical Trend (2018-2023)
            8.6.3.2    Forecast Trend (2024-2032)
        8.6.4    Utilities
            8.6.4.1    Historical Trend (2018-2023)
            8.6.4.2    Forecast Trend (2024-2032)
        8.6.5    Mining
            8.6.5.1    Historical Trend (2018-2023)
            8.6.5.2    Forecast Trend (2024-2032)
        8.6.6    Oil and Gas
            8.6.6.1    Historical Trend (2018-2023)
            8.6.6.2    Forecast Trend (2024-2032)
        8.6.7    Others
    8.7    Global Tunnel Boring Machine Market by Region       
        8.7.1    North America
            8.7.1.1    Historical Trend (2018-2023) 
            8.7.1.2    Forecast Trend (2024-2032)
        8.7.2    Europe
            8.7.2.1    Historical Trend (2018-2023) 
            8.7.2.2    Forecast Trend (2024-2032)
        8.7.3    Asia Pacific
            8.7.3.1    Historical Trend (2018-2023) 
            8.7.3.2    Forecast Trend (2024-2032)
        8.7.4    Latin America
            8.7.4.1    Historical Trend (2018-2023) 
            8.7.4.2    Forecast Trend (2024-2032)
        8.7.5    Middle East and Africa
            8.7.5.1    Historical Trend (2018-2023) 
            8.7.5.2    Forecast Trend (2024-2032) 
9    North America Tunnel Boring Machine Market Analysis
    9.1    United States of America 
        9.1.1    Historical Trend (2018-2023) 
        9.1.2    Forecast Trend (2024-2032)
    9.2    Canada
        9.2.1    Historical Trend (2018-2023) 
        9.2.2    Forecast Trend (2024-2032)
10    Europe Tunnel Boring Machine Market  Analysis
    10.1    United Kingdom
        10.1.1    Historical Trend (2018-2023) 
        10.1.2    Forecast Trend (2024-2032)
    10.2    Germany
        10.2.1    Historical Trend (2018-2023) 
        10.2.2    Forecast Trend (2024-2032)
    10.3    France
        10.3.1    Historical Trend (2018-2023) 
        10.3.2    Forecast Trend (2024-2032)
    10.4    Italy
        10.4.1    Historical Trend (2018-2023) 
        10.4.2    Forecast Trend (2024-2032)
    10.5    Others
11    Asia Pacific Tunnel Boring Machine Market Analysis
    11.1    China
        11.1.1    Historical Trend (2018-2023) 
        11.1.2    Forecast Trend (2024-2032)
    11.2    Japan
        11.2.1    Historical Trend (2018-2023) 
        11.2.2    Forecast Trend (2024-2032)
    11.3    India
        11.3.1    Historical Trend (2018-2023) 
        11.3.2    Forecast Trend (2024-2032)
    11.4    ASEAN
        11.4.1    Historical Trend (2018-2023) 
        11.4.2    Forecast Trend (2024-2032)
    11.5    Australia
        11.5.1    Historical Trend (2018-2023) 
        11.5.2    Forecast Trend (2024-2032)
    11.6    Others
12    Latin America Tunnel Boring Machine Market Analysis
    12.1    Brazil
        12.1.1    Historical Trend (2018-2023) 
        12.1.2    Forecast Trend (2024-2032)
    12.2    Argentina
        12.2.1    Historical Trend (2018-2023) 
        12.2.2    Forecast Trend (2024-2032)
    12.3    Mexico
        12.3.1    Historical Trend (2018-2023) 
        12.3.2    Forecast Trend (2024-2032)
    12.4    Others
13    Middle East and Africa Tunnel Boring Machine Market Analysis
    13.1    Saudi Arabia
        13.1.1    Historical Trend (2018-2023) 
        13.1.2    Forecast Trend (2024-2032)
    13.2    United Arab Emirates
        13.2.1    Historical Trend (2018-2023) 
        13.2.2    Forecast Trend (2024-2032)
    13.3    Nigeria
        13.3.1    Historical Trend (2018-2023) 
        13.3.2    Forecast Trend (2024-2032)
    13.4    South Africa
        13.4.1    Historical Trend (2018-2023) 
        13.4.2    Forecast Trend (2024-2032)
    13.5    Others
14    Market Dynamics
    14.1    SWOT Analysis
        14.1.1    Strengths
        14.1.2    Weaknesses
        14.1.3    Opportunities
        14.1.4    Threats
    14.2    Porter’s Five Forces Analysis
        14.2.1    Supplier’s Power
        14.2.2    Buyer’s Power
        14.2.3    Threat of New Entrants
        14.2.4    Degree of Rivalry
        14.2.5    Threat of Substitutes
    14.3    Key Indicators for Demand
    14.4    Key Indicators for Price
15    Value Chain Analysis
16    Competitive Landscape

    16.1    Market Structure
    16.2    Company Profiles
        16.2.1    Komatsu Ltd.
            16.2.1.1    Company Overview
            16.2.1.2    Product Portfolio
            16.2.1.3    Demographic Reach and Achievements
            16.2.1.4    Certifications
        16.2.2    China Railway Engineering Equipment Group Co., Ltd.
            16.2.2.1    Company Overview
            16.2.2.2    Product Portfolio
            16.2.2.3    Demographic Reach and Achievements
            16.2.2.4    Certifications
        16.2.3    Herrenknecht AG
            16.2.3.1    Company Overview
            16.2.3.2    Product Portfolio
            16.2.3.3    Demographic Reach and Achievements
            16.2.3.4    Certifications
        16.2.4    Hitachi Zosen Corporation
            16.2.4.1    Company Overview
            16.2.4.2    Product Portfolio
            16.2.4.3    Demographic Reach and Achievements
            16.2.4.4    Certifications
        16.2.5    Kawasaki Heavy Industries, Ltd.
            16.2.5.1    Company Overview
            16.2.5.2    Product Portfolio
            16.2.5.3    Demographic Reach and Achievements
            16.2.5.4    Certifications
        16.2.6    Others
17    Key Trends and Developments in the Market

 

Additional Customisations Available

1    Manufacturing Process
    1.1    Overview
    1.2    Detailed Process Flow
    1.3    Operation Involved
2    Project Requirements and Cost Analysis
    2.1    Land, Location and Site Development
    2.2    Construction
    2.3    Plant Machinery
    2.4    Cost of Raw Material
    2.5    Packaging
    2.6    Transportation
    2.7    Utilities
    2.8    Manpower
    2.9    Other Capital Investment

 

List of Key Figures and Tables

1.    Global Tunnel Boring Machine Market: Key Industry Highlights, 2018 and 2032
2.    Global Tunnel Boring Machine Historical Market: Breakup by Machine Type (USD Million), 2018-2023
3.    Global Tunnel Boring Machine Market Forecast: Breakup by Machine Type (USD Million), 2024-2032
4.    Global Tunnel Boring Machine Historical Market: Breakup by Geology Type (USD Million), 2018-2023
5.    Global Tunnel Boring Machine Market Forecast: Breakup by Geology Type (USD Million), 2024-2032
6.    Global Tunnel Boring Machine Historical Market: Breakup by End Use (USD Million), 2018-2023
7.    Global Tunnel Boring Machine Market Forecast: Breakup by End Use (USD Million), 2024-2032
8.    Global Tunnel Boring Machine Historical Market: Breakup by Region (USD Million), 2018-2023
9.    Global Tunnel Boring Machine Market Forecast: Breakup by Region (USD Million), 2024-2032
10.    North America Tunnel Boring Machine Historical Market: Breakup by Country (USD Million), 2018-2023
11.    North America Tunnel Boring Machine Market Forecast: Breakup by Country (USD Million), 2024-2032
12.    Europe Tunnel Boring Machine Historical Market: Breakup by Country (USD Million), 2018-2023
13.    Europe Tunnel Boring Machine Market Forecast: Breakup by Country (USD Million), 2024-2032
14.    Asia Pacific Tunnel Boring Machine Historical Market: Breakup by Country (USD Million), 2018-2023
15.    Asia Pacific Tunnel Boring Machine Market Forecast: Breakup by Country (USD Million), 2024-2032
16.    Latin America Tunnel Boring Machine Historical Market: Breakup by Country (USD Million), 2018-2023
17.    Latin America Tunnel Boring Machine Market Forecast: Breakup by Country (USD Million), 2024-2032
18.    Middle East and Africa Tunnel Boring Machine Historical Market: Breakup by Country (USD Million), 2018-2023
19.    Middle East and Africa Tunnel Boring Machine Market Forecast: Breakup by Country (USD Million), 2024-2032
20.    Global Tunnel Boring Machine Market Structure

Key Questions Answered in the Report

In 2023, the global tunnel boring machine market attained a value of nearly USD 6,652.44 million.

The market is estimated to grow at a CAGR of 6% between 2024 and 2032.

The major drivers of the market include the rising awareness regarding the benefits of boring machines, the increasing government expenditure to develop road and railway networks, and the growing mining activities.

The key trends propelling the market demand include advancements in tunnelling technology, the increasing underground mining operations, and rapid urbanisation.

The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.

The major machine types considered in the market report are slurry TBM, earth pressure balance shield TBM, shielded TBM, and multi-mode TBM, among other machines.

Soft ground, hard rock ground, heterogenous ground, and variable ground are the various segments based on the geology types considered in the market report.

Road transport, railway transport, metro and transit, utilities, mining, and oil and gas, among others, are the significant end uses of the product.

The key players in the tunnel boring machine market are Komatsu Ltd., China Railway Engineering Equipment Group Co., Ltd., Herrenknecht AG, Hitachi Zosen Corporation, and Kawasaki Heavy Industries, Ltd., among others.

Analyst Review

The global tunnel boring machine market attained a value of about USD 6,652.44 million in 2023, driven by the growing awareness about the various advantages. Aided by technological advancements in the tunnelling technology, the market is expected to witness a further growth in the forecast period of 2024-2032, growing at a CAGR of 6%.

EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. Based on machine type, the tunnel boring machine industry is divided into slurry TBM, earth pressure balance shield TBM, shielded TBM, and multi-mode TBM, among other machines. On the basis of geology type, the market is divided into soft ground, hard rock ground, heterogenous ground, and variable ground. By end uses, the market is classified into road transport, railway transport, metro and transit, utilities, mining, and oil and gas, among others. The major regional markets for tunnel boring machine are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. The key players in the above market include Komatsu Ltd., China Railway Engineering Equipment Group Co., Ltd., Herrenknecht AG, Hitachi Zosen Corporation, and Kawasaki Heavy Industries, Ltd., among others.

EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.

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