Tunnel boring machines (TBMs) are mechanized excavating machines used to excavate tunnels with a circular cross-section through a variety of soil and rock strata. They can bore through anything from hard bedrock to sand and gravel. TBMs find extensive usage for railway and highway construction along with infrastructure development projects related to water supply & sewage, metro & light rail networks, and hydroelectric projects. The advantages of using TBMs include consistency in tunnel shape and size, minimization of muck transportation, and application in hard rock conditions. Growing infrastructure spending around the world has created substantial demand for TBMs in recent years.

The Global Tunnel Boring Machine Market is estimated to be valued at US$ 6,705.8 MN in 2024 and is expected to exhibit a CAGR of 4.9% over the forecast period from 2024 to 2031.

Key Takeaways

Key players operating in the Global Tunnel Boring Machine are 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. The key players are focusing on new product development and strategic collaborations to gain a competitive advantage in the market.

The rapidly growing infrastructure sector across both developed and emerging nations provides substantial opportunities for TBM manufacturers. Countries are pouring large investments into metro and transport infrastructure projects which bodes well for tunneling activity.

The Global Tunnel Boring Machine Market Size projects in Asia Pacific and Middle East & Africa will facilitate the worldwide demand for TBMs during the forecast period. China, India, Indonesia are emerging as major markets owing to urbanization and infrastructure development initiatives.

Market Driver

The steadily growing government investments for transportation and public infrastructure projects is a major factor propelling the demand for TBMs. Rapid urbanization worldwide has necessitated efficient transportation networks which has translated to strong pipeline of tunneling projects. Furthermore, the infrastructure stimulus packages announced by various nations in the post-COVID era will further support the TBM market growth over the next few years.

PEST Analysis

Political: Tunnel projects face approval challenges from government agencies and public stakeholders due to land acquisition and environmental concerns. Regulations aim to ensure worker and public safety during construction.
Economic: Tunnel construction business is sensitive to economic conditions as projects are often large capital investments that may be deferred during downturns. Demand largely depends on infrastructure spending by governments and businesses.
Social: Bored tunnels help reduce traffic congestion, pollution and travel time between locations. They also face social opposition from those concerned about land use impacts, noise and vibrations during construction.
Technological: State-of-the-art tunnel boring machines have enabled construction of longer tunnels in hard and soft ground conditions. Automation and remote monitoring technologies assist operations and ensure worker safety in challenging underground environments. Sensors and structural analysis aid stability during construction.

Asia Pacific currently accounts for over 50% of the global tunnel boring machine market value, driven by extensive infrastructure development and urbanization across countries like China, India and Japan. Major ongoing projects include the Minsk–Moscow high-speed railway in Russia, Kuala Lumpur-Singapore high-speed rail, Delhi-Mumbai industrial corridor and bullet train projects in India. The fastest growing regional market is expected to be North America on account of revamped infrastructure spending approved under the 2021 Infrastructure Investment and Jobs Act. Planned projects span road, rail and water transport networks across USA and Canada.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it